The first European settlement in Mississippi, Fort Maurepas, was established by French explorateur Pierre Le Moyne d’Iberville in 1799. With the recent announcement by France’s Socialist president, François Hollande, of a tax plan to soak the rich, should Americans and others get ready for another French emigration, not of explorers but of entrepreneurs and other employers?
Because that’s what may be about to happen — and it could happen to the United States if Barack Obama and the Democrats follow in Hollande’s footsteps.
You might think that the purpose of the new and higher French taxes was to significantly affect the deficit. But it wasn’t. Rather, writes Michael Birnbaum of the Washington Post, who notes that the higher income tax “raises too little money to make a dent in France’s funding needs,” the Socialist tax plan “is more of a political symbol than an economic measure. It will help give Hollande political cover.”