Oh boy, we will soon have another example of why socialist policies and their ignorant economic models do not work. The problem with socialism is that eventually you run out of other people’s money. Capitalism is not an ism, because it’s what people do if they are left alone. Socialism is the true myth because it must be imposed on individuals, at any cost. Let the exodus out of France begin. Check out the excerpt below….
PARIS AP — The French government presented a budget Friday that was heavy on taxes — including a controversial 75 percent income rate on high earners — but which critics said lacked fundamental reforms that could jumpstart economic growth… The French economy, the second largest among the 17 countries that use the euro, has not grown for three straight quarters, the national statistics agency confirmed Friday. Unemployment has been on the rise for more than a year and stands at 10.2 percent….
Among the other measures included are: a new income tax level at 45 percent for those making more than $200,000, an increase of capital gains taxes to bring them more in line with how salaries are taxed, and a cap on certain deductions for large companies on their income taxes.
Read the Rest, France unveils a budget heavy on taxes – Yahoo! News.