Day By Day

Thursday, March 29, 2012

Loons across the ocean

While we have our own leadership election this year to keep our attention, the French are also in the process of selecting a president.  Two of the leading candidates from the left have truly redistributionist views.  First, there is Francois Hollande, the main Socialist candidate.  He advocates a tax rate of 75% on income over €1,000,000 ($1,327,000).  Talk about a disincentive to success.

But that's a piker in the world of European left-wing thought.  Jean-Luc M√©lenchon is a hard left, anti-capitalist activist who is rising in the presidential election polls.  He advocates capping "fat-cat" salaries at €360,000 ($477,000), after which income tax would be set at 100%.  Think about that.  The government says, "You have earned enough.  Anything more you make goes to us."

The scary part - there are many who think this is a good idea.  The even scarier part - many in the Democratic Party think that the USA needs to be more like Europe.

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