Wednesday, August 8, 2012

Careful what you ask for mon ami...

Do you like working? Earning a paycheck? Seriously. Do you work for the private sector? Would you like to keep your job? Get a raise? A 401(k) match? Medical Insurance? Want your employer to pay into your social insurance program? Let me guess; yes, yes, yes, yes, yes, yes, yes and yes.

Now let me ask you; do you feel there's too great a divide between the top say 10 or 20%, in terms of personal income and wealth, and the rest of us? Do you think those top earners should pay yet more (they provide the lion's share of government revenue already) of their income to Uncle Sam? Do you suppose you'd benefit somehow in the process. Let me guess (for the sake of my argument); yes, yes and yes.

If you happen to live in France, mon ami, you're about to get your wish. Your new president, socialist Francois Holland, has vowed to raise the income tax for those earning more than a million euro a year (that would be yours and/or many of your amis' employers) to 75%.

Now let me ask you; who you gonna blame when your boss packs up and heads to Singapore, and you have to pack up your desk?

From this morning's NY Times articleIndigestion for 'les Riches' in a Plan for Higher Taxes:

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