France's prime minister has slammed wealthy citizens fleeing the country's punitive tax on high incomes as greedy profiteers seeking to "become even richer"...A bit of generosity, indeed:
"We cannot fight poverty if those with the most, and sometimes with a lot, do not show solidarity and a bit of generosity," he added.
France's Socialist President Francois Hollande, who famously once declared "I don't like the rich", has pledged to tax annual income of more than one million euros per year at 75 percent.The faster the Socialist government of France collapses, the better, and the fact that the rich are very publicly escaping high-tax jurisdictions for (slightly) lower ones is to be applauded by citizens rather than scorned. Only by setting governments in this kind of competition against one another will rates be minimized for everyone.* Giving 10% of your income to the government for the protection of your property** is a bit of generosity. Giving 75% of it is stupid and ought to be reserved for people who voted for the current government.
But I'm not at all sure what the French government is complaining about. As I mentioned two weeks ago, and as was proven in California this week, higher tax rates never deliver the promised revenue. Quite often they result in less overall revenue than do lower rates. That leftists constantly demand higher rates even if it means less revenue proves that they actually care more about the rates than the revenue anyway. So let the leftists have their rates, and let those who earned the revenue keep it - by moving to a place where bitter, avaricious leftists can't get at it. Everyone wins.
* Eventually we'll get past this "I'm going to vote for others to pay more taxes so I can have free stuff" mentality - but the fastest way is for "others" to simply not pay the demanded taxes.
** You can bloody well bet that the rich do not avail themselves of many more of the government's "free" services, like public schools.