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France Unveils Temporary 75 Percent Super-Rich Tax Rate

4
lostlakehiker9/29/2012 7:50:26 am PDT

The rich are more mobile than the post author thinks. Many are bilingual. For those who speak only French, there is still Belgium and Quebec.

For those who speak only French and would never consider moving, there is the option to scale back ambition and effort and smell the roses.

There is, finally, the option to soldier on and pay the taxes. But even that option is a revenue-loser for the government in the long run. With far less to work with after taxes, an entrepreneur cannot hope to rapidly build his or her business. The Socialist leadership will be blind to this, but reality will not be. France won’t have as much of what little entrepreneurial ardor she now has.

Taxing wisdom is to settle for 50% or less. Do not bind the mouth of the cattle that tread out the grain.