Tuesday, April 25, 2017

100% income tax proposed in France by Melenchon

Mr. Melenchon has gone out of his way to prove his far-left-of-centre bona fides by announcing that he wishes to increase the marginal tax rate on the wealthy in France violently, and has proposed a rate of 100% on incomes above €400,000, or approximately $425,000 at the current EUR/US$ exchange rate.

What is disconcerting is that no one in France is laughing at the stupidity of this proposal and many are actually applauding.