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

>>4
It's not about whether or not the outcome is enough to live on comfortably, it's about what gives anyone the right to take such a disproportionally huge chunk of a person's income in the name of "fairness"?

What incentive to achieve a booming business do you have when HALF to THREE QUARTERS of your profit is just taken away from you with nothing in exchange?

Hollande's France is not the environment that allows a first world nation to form or continue to exist. The first thing that's going to happen, in the next couple of months, you're going to see most of the large companies that provide huge numbers of jobs and tax leave the country as soon as they can. Next you will see new legislation to prevent people from leaving, some kind of tax that makes it impossible to move assets or money out of the country without losing 90% of it. Then the debt will catch up and the food shortages will begin.

If none of this happens I will be very surprised. In fact, I will buy a hat and eat it if none of this has happened before Hollande leaves government.