75% Tax Rate

http://www.bbc.co.uk/news/world-europe-19754016

Well, it's gone through. Hollande's vision of a socialist utopia where profit is severely punished. Luckily I'm not in France, so I'm in a position to watch it all go to shit and see Rand proven complete right with a modern day example.

-A new 75% tax on the richest earning more than 1m euros
-A 45% income tax rate on incomes over 150,000 euros a year
-A freeze in government spending, excluding debt repayments and pensions
-The elimination of a ceiling on "l'impot de solidarite sur la fortune", or wealth taxes, so that assets of more than 1.3m euros will be taxed at 1.5%
-The reduction of tax exemptions for loan payments by large corporations
-Capital gains and dividends will now be subject to the income tax regime

>>31
Can the average street sweeper place a million Euros in a foreign tax haven at the drop of a hat?

If taken to court on trumped-up charges (I'm oh-so-not looking at you, MAFIAA), can the ordinary checkout girl ever afford a 100$/hour lawyer on a case that could draw out for weeks, even months? Where the opponent's lawyer can fast-talk the jury into fucking up? (Last I heard, the gummint only provides free lawyers in penal cases)


There's a bunch of cases like this, where «equality», and «equal» opportunity, actually really means «might (read: money) makes right». Like it or not, the deck is actually stacked rather solidly against the poor.

This would stack the deck just a little the other way, to balance the scores a bit. It's an equaliser of sorts.