Not surprisingly, wealthy French people are not waiting for their money to be nationalized by the new, incoming socialist regime.
The problem with over-taxing the rich is that the rich decide to take their income, intellectual captial and businesses elsewhere. So, it ends up that other (lower) classes of income earners get taxed more to make up for the revenue shortfalls. Duh!
As Margaret Thatcher once said-the problem with socialism is that eventually, you run out of other people's money.
Some rich "other" people have already learned this less and are quickly and wisely shifting assets toward the continent. They would be better off here in Canada, as well.
Gauging the rich in France will just speed up its economic, social and cultural deterioration.
UPDATE: How do you say, "party's over, baby" in Greek"?
Drachma dreaming?
UPDATE 2: Don't do any California Dreaming-that's for damned sure.
