From Zero Hedge
With the Great June Socialist Revolution spilling over into July, here are some details as they become available from France:
But... FRANCE TO ANNUL PLANNED VAT INCREASE PLANNED BY SARKOZY
After all, it's only fair. In other news, we are rotating our secular long thesis away from Belgian caterers and into tax offshoring advisors, now that nobody in the 1% will pay any taxes ever again.
Politicians believe the path to prosperity is only through confiscation and redistribution. They also believe that growth comes with subtraction and division and not from addition and multiplication
They further think that the wealthy are dingbats whose actions are limited by the dictates of politicians.
Professor Ludwig von Mises was right…
Nothing is more calculated to make a demagogue popular than a constantly reiterated demand for heavy taxes on the rich…
Confiscations of capital through the legal form of taxation are neither socialistic nor a means to Socialism. They lead, not to socialization of the means of production, but to consumption of capital. Only when they are set within a socialist system, which retains the name and form of private property, are they a part of Socialism.
So the French government will spend MORE and get LESSER revenues as productive segments of society either reduces productive activities and or flee to other havens. Capital will be consumed at a more faster rate.
After all, money goes where it is best treated.
Yet under the sustainment of such political conditions, the Euro’s death warrant has been sealed.
Asia should welcome with open arms the prospective diaspora of French capital by implementing policies opposite to those embraced by the French politicians. Yes, such policy is known as economic freedom.
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