BBC News - French election: Hollande wants 75% tax on top earners
François Hollande, the Socialist Party and Left Radical Party candidate in the 2012 French presidential election, who is likely to become France's next president, has said top earners should pay 75% of their income in tax.
This is what he said:
Next to the idea that this is just theft, it is also a horrible idea. Lots of rich French are living in foreign countries to avoid ridiculous income taxes, guess what happens when the tax goes up even higher?Above 1m euros [£847,000; $1.3m], the tax rate should be 75% because it's not possible to have that level of income.
The Socialist Party in The Netherlands, which is now the biggest party in the polls, wants to drastically increase the income tax in The Netherlands as well. It is currently 52% for incomes higher than €56,491/year. He wants the 52% to become 55% and 65% for incomes above €150,000/year.
What is happening to Europe? Communism is slowly taking over Europe and people don't even notice it. Politicians are introducing new taxes and excises one by one so people don't notice, even though health care is great and things like welfares are given out quite easily. The gas prices here in Western Europe is 2.5x as much as in the USA for lots of countries (including France, The Netherlands, Belgium, Germany and the United Kingdom), and the entire difference goes to the government. People who don't care about money or people who are too lazy to get a job make richer people pay everything for them and lots of politicians don't see it or even participate. Communism is coming for Europe.