In France a 3% tax hike on the wealthy comes at the behest of the wealthy.
He said the new tax would remain in place until France reduces its budget deficit back under the EU’s intended limit of 3% of GDP, which should occur in 2013.
France plans to trim its public deficit to 5.7 % this year, 4.6 % next year and 3% in 2013.
“This is a rigorous policy that will allow France to remain relaxed,” Mr Fillon said. “Our country must stick to its [deficit] commitments. It’s in the interest of all French people.”
What’s going to be just amazing is when France’s deficit manages to cut down, despite their litany of social programs, whereas the United States with its “if I have money that means I’m better than you” attitude will do just the opposite: the GOP wants to hike taxes on people making less than $100,000 a year.
There’s an inescapable conclusion looming over the horizon, and that is that if you don’t already have vast wealth and power, you aren’t gonna be getting into the club any time soon. This isn’t about rewarding success, it’s about making sure those who are successful don’t have to be burdened with the concern that anyone else will catch up.