Tax Fairness: Thinking the Rich Should Pay More Tax is Ludicrous
TAX FAIRNESS: THINKING THE RICH SHOULD PAY MORE TAX IS LUDICROUS – How many times have you heard a socialist call for higher tax rates to be imposed on the rich? Yes whenever a socialist government comes to power the first thing they talk about is increasing the tax levels for the wealthiest members of society.
Well does it work? The video below dispels this as a myth; in fact historically when the rich are taxed too much government tax revenues plummet and that’s simply because the rich either leave or engage in greater levels of tax avoidance; a perfectly legal way to ensuring the tax man isn’t able to take too much.
One of the most recent cases of this in history can be seen in France. After the socialist government came to power under the leadership of Francios Hollande he ramped up tax for the wealthy to a staggering 75%.
Within two years countless numbers of the wealthy members of society packed up and left, foreign investment was stifled and the result was that the French economy has stagnated for nearly three years.
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