Coming to a neighborhood near you in the near future. If Barack Obama is re-elected and Pelosi and Reid have their way, the battles of socialist class warfare will be furthered in the streets of America.
Never mind that the math of their grand scheme of taxation simply doesn't work. Nothing about socialism works or ever has worked for that matter, but it doesn't stop the Marxist among us from continuing to beat the drum. For they know that socialism is the first major step to their dream of a Marxist state.
The simple reality is, that half of the people cannot long remain the parasites of the productive half of any society. The economics simply do not work. Punishing the producers in the belief that this will somehow sustain those who refuse to work will always fail. A simple tour of history will clearly demonstrate the reality.
Thomas Jefferson and out founding fathers realized this over two hundred years ago. They realized then and they warned us then, to not allow the people to vote themselves more and more until ultimately the system collapses.
Indigestion for ‘les Riches’ in a Plan for Higher Taxes
The call to Vincent Grandil’s Paris law firm began like many others that have rolled in recently. On the line was the well-paid chief executive of one of France’s most profitable companies, and he was feeling nervous.
President François Hollande is vowing to impose a 75 percent tax on the portion of anyone’s income above a million euros ($1.24 million) a year. “Should I be preparing to leave the country?” the executive asked Mr. Grandil.
The lawyer’s counsel: Wait and see. For now, at least.
“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, which specializes in tax matters for corporations and the wealthy. “Even young, dynamic people pulling in 200,000 euros are wondering whether to remain in a country where making money is not considered a good thing.”
A chill is wafting over France’s business class as Mr. Hollande, the country’s first Socialist president since François Mitterrand in the 1980s, presses a manifesto of patriotism to “pay extra tax to get the country back on its feet again.” The 75 percent tax proposal, which Parliament plans to take up in September, is ostensibly aimed at bolstering French finances as Europe’s long-running debt crisis intensifies.
But because there are relatively few people in France whose income would incur such a tax — an estimated 7,000 to 30,000 in a country of 65 million — the gains might contribute but a small fraction of the 33 billion euros in new revenue the government wants to raise next year to help balance the budget.
The French finance ministry did not respond to requests for an estimate of the revenue the tax might raise. Though the amount would be low, some analysts note that a tax hit on the rich would provide political cover for painful cuts Mr. Hollande may need to make next year in social and welfare programs that are likely to be far less popular with the rank and file.
No comments:
Post a Comment