Well, now I’ve seen it all, when it comes to left wing financial lunacy. In France, a major candidate for President (Jean-Luc Melenchon) is calling for a 100% tax on earnings over £300,000.
Gee, I wonder what the Frenchies who are smart, productive soles earning a good wage are going to do? Ummmm, I’m betting they either pack their bags and go someplace else where they can continue to be productive and be compensated for it, ooorrrrr, they will simply stop earning more than £300,000. And what effect will that have on the French society? How many jobs will be created by having their productive folks leave the country? How many jobs will be generated by folks who intentionally earn less than £300,000 because there is no point, it will be taken from them euro by euro.
Let’s just think about this for a second. All the new expensive purchases that would have been made with the over £300,000 of income will evaporate. The jobs for those folks who make these items will evaporate with them. For the productive folks who leave the country, they will continue to make the purchases, but they will be made in other countries by other folks. This is a lose lose proposition.
This plan is monumentally STUPID! Only from the mind of a LPSC (liberal/progressive/socialist/communist) could an idea like this be put forth without realizing that it would be an unmitigated disaster. The real money makers in France would be leaving there so fast there would be a vapor trail behind them. When was the last time anyone got a job paying anything close to a decent wage from a poor person? I can answer that for you…….NEVER!!!!!
The French economy, like the majority of Europe, has been destroyed by the LPSCs over the past 50 years. As we are seeing in Greece, Spain and Italy, and to a lesser degree the rest of Europe, they are on the edge of collapse. Their heels are over the edge of the precipice and they are grasping at straws to save themselves. Then you get some legwarmer wearing LPSC like Melenchon come along and play to the indolent class with a concept like this and it’s like trying to put out a fire by throwing gas on it.
One of the major reasons these socialistic economies are headed down the porcelain appliance is because their governments have been either promising “freebies” to their citizens, or they’ve been forcing companies into giving their populace “freebies”, which of course are NOT free. NOTHING is free! Everything must be paid for.
The LPSCs have controlled the education system in most of Europe for a very long time. They have, in my opinion, intentionally not taught their citizenry how economics actually work (remind you of any other country?). This lack of education means that when LPSCs like Melenchon talk about people having too much money and they should confiscate through taxation everything over X amount, these ignorant folks don’t realize the rippling impact of such plans. They sell the idea that these punitive taxes will generate millions in revenue for the governments so they can give more and more to the indolent, when in fact these gains will be a onetime thing.
Pavlov proved there is learned stimulus response. You can believe me when I tell you that the folks these punitive taxes are aimed at are some of the best at learning their environments and responding in a way that will be best for them. If you think that they will work hard at being creative and productive so that someone else will receive the benefits, then clearly, you’ve never been the victim of any such scheme. The very first thing the creative and productive folks will do is put that creative and productive talent to work hiding or moving funds that would be put at risk or the processes whereby they generate those funds. And what does that mean for those who are looking to the largess of a LPSC government for their existence? It means there will be even less money available for the indolent class.
And what does recent history tell us those who have been trained to suckle at the central government teat for their existence do when they can no longer get what they want? Why I believe Greece has shown you exactly what will happen.
Abraham Lincoln said “You cannot help the poor by destroying the rich.” It is as true today as the day he said it.
November is coming. Choose wisely, as we have our own LPSCs like France’s Melenchon.
well said kurt. 'better to give than to receive' is what the book mentions. it does not say 'better to have it all taken away from you without your permision than to give freely'. charity has to be a decision of the giver, not a mandate by the receiver or by a 3rd party gvmt body? stupid is as stupid does with these people with these ideas?
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