France's new president Socialist Francois Hollande said his new tax rate (75%) would target those earning more than 1 million euros per year and apply not just to work income but also on capital gains. Immediate polls show that the idea is supported by nearly two-thirds of the (we want something for nothing) public.
So if you make a million a year you're going to give the government $750,000!
Look for the wealthy to be leaving France in droves.
We also have a Socialist president the public thinks is Robin Hood. Stealing from one to give to another calling it "fair share" is nothing more then Socialism. The problem is magnified when supported by nearly half of the (we want something for nothing) public which is the direction we are headed.
Margaret Thatcher's comment which has been used so often it's almost a cliché, "The problem with Socialism is sooner or later you run out of other people's money." was never more clearly evident then it is now.
Lets face it, Obama and Hollande are both Socialist's. But only one admits it.
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