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Rich in France Plan to Flee as 75% Income Tax Looms

Ted in California Wrote: Aug 08, 2012 11:00 AM
You know what is scary is that you can replace France with California and President Hollande with Governor Jerry Brown and its basically the same story.

When France elected Socialist President Francois Hollande earlier this year, most of America looked over and said, "Good luck, idiots." Now, France's richest people are making plans to flee the country as Hollande plans to implement a 75 percent "rich" tax. Those so called rich people also happen to be the economic engine that drives the French economy through business and job creation. If the rich go, so does the economy.

“We’re getting a lot of calls from high earners who are asking whether they should get out of France,” said Mr. Grandil, a partner at Altexis,...