Tuesday, November 19, 2019

The Wealth Tax in Action

In 2012 French socialist prez Hollande imposed a 75% tax on millionaires. What happened next: 1. 10,000 millionaires fled the country 2. Real estate prices and Capex collapsed, budget deficit soared 3. GDP did not print above 0.8% for 8 quarters 4. Tax was overturned in 2015
9:06 PM · Nov 18, 2019Twitter for iPhone


art.the.nerd said...

"GDP did not print ..."

Can anyonyone offer a reasonable explanation? Rise, perhaps?

UbuMaccabee said...

But that was in 2012, this is 2019. We should try it again.

Socialism will always seek to control the exits. They always start at the largest scale of government, not the smallest, because they know it will fail unless they block all the exists first.

Socialism is like Jonestown, you have to put gunmen all around the compound first before you introduce your vision for the new man.

Sam L. said...

The reactions were SO OBVIOUS. Governments are not intelligent.