Alternate Headline: France now joins the U.S. in electing fully socialist President.
Move over, America. Barack Obama isn’t the only elected President to hold the label of socialist. Not in this day and time.
Francois Hollande is the first socialist to run France in 17 years and from his campaign promises we learn he intends to further run the nation into the ground. This via a whopping 75% tax rate on those making more than a million euros a year, and 45% on those at over just 150,000 euros.
“Above € 1-million [$1.34-million], the tax rate should be 75 percent because it’s not possible to have that level of income,” Hollande told the TF1 television station.
Previously, Hollande has proposed a 45 percent tax rate on French citizens earning in excess of €150,000 ($202,000) annually.
“It’s a signal that has been sent, a message of social cohesion, there is an effort to be made,” he added.