Posted on 02/29/2012 7:33:58 PM PST by Olog-hai
François Hollande, the Socialist Party frontrunner for the French presidency, announced a tax plan Monday that would see taxes on the wealthy rise dramatically if he is elected this spring.
Speaking on TF1 television, Hollande proposed a 75 percent tax on income over €1 million ($1.34 million), a huge jump from the current top rate of 40 percent.
"I can announce here that above €1 million (per year), the tax rate should be 75 percent, because it's not possible to have that level of income," said Hollande, who added that he did not accept "excessive wealth."
Hollande has consistently held a commanding lead over incumbent President Nicolas Sarkozy among French voters, who will take to the polls for a first round of voting on April 22 and a runoff on May 6. …
(Excerpt) Read more at spiegel.de ...
“Why stop at 75%? Why not 100%?”
They have no intention of stopping at 75%. That is just the jumping off point for 100% which is the ultimate goal. You can’t have slaves if they are making money.
Another staid, impoverished era of French history... coming right up
“because it’s not possible to have that level of income...”
So he’s calling them thieves and nobody “corrects” (b-slaps) him.
It’s part of the normal socialist repertoire. Moral codes mean nothing to them; only power does.
IIRC, America had a 91% top federal income tax rate in the late 1950’s.
And the UK had a 95% top income tax rate in the 60’s.
Check out the words to the Beatles song “The Taxman”...:^)
Hollande’s demands of a 75% tax rate is ONLY possible due to the Act of the US Congress and signature of the US President.
Foreign Account Tax Compliance Act (FATCA), passed in 2009, with a Republican House majority, is the root mechanism being used by EUropean governments to put the clamp on their domestic populations.
In turn, the same taxation levels will be available to the US Congress by this time next year.
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