Socialist France Abandons 75% "Super Tax"

by JASmius



Well, it was either that, or rebuild the Maginot Line around the entire country to keep well-to-do Frenchies in:

Once a flagship policy of French President Francois Hollande, the 75% “supertax” on top earners limps into its final weeks this month having sparked plenty of controversy but few economic results.

Anybody who's surprised by that, come look at the bridges I'm selling.

It was no surprise that the policy, which expires on February 1st, would be quietly dropped: it was only ever slated to last two years and the Socialist government has for months declared it would not be renewed.

Which begs the question of whether "democratic" socialists, as opposed to communist revolutionaries, really have the courage of their tyrannical convictions.  Did Francois Hollande only ever intend his "[BLEEP] the rich" measure - which was the crown jewel of his presidential campaign - to be a campaign stunt?  I always credit lefties with being a lot more hardcore than that, but then, if Hollande had really been serious, he would have rebuilt the Maginot Line around his entire country before he imposed his "super tax".

The tax had also been watered down until it was barely a shadow of the “exceptional contribution to solidarity” proclaimed by Hollande when he came to power in 2012.
France’s top court had declared as unconstitutional the original plan to levy the tax on all individuals earning one million euros ($1.2 million).

The government came back with a version that made companies pay the 75% rate only for the portion of employees’ salaries above the million-euro ceiling.

Stop the tape.  A socialist president actually obeyed his country's constitution?  Hollande didn't just decree his "super tax" as originally formulated anyway and tell France's top court to go take a bath?  Geez, what a wimp.

But by then, it had already become a symbol of France’s opposition to big business and attracted high-profile derision.

Which begs the question of why the French electorate elected Francois Hollande in the first place.  Maybe it's a Gaullist genetic disorder.  Or maybe the eternal search for the "right socialist" still "labors" on.

I'd ask whether or not Barack Obama is paying heed and taking notes on this development, but I think we all know better.