French Follies Continue to Entertain

France is fascinating: a wonderful place to visit, with beauty, style, and culture.  But it has a statists welfare economy of an especially paralyzing nature -- and one that keeps playing out in some amusing ways. Certainly the Socialist government's income tax kerfuffle continues to be worth laughs.  After it raised the income tax on the wealthy to 75% (and jacked up other taxes across the board), a number of prominent French fled, including most prominently the iconic actor Gerard Depardieu.  After a Gallic brouhaha of prodigious proportion, the French Supreme Court ruled the income tax unconstitutional. Well, the latest news is that the French government admitted partial defeat.  The Socialist French finance minister, Pierre Moscovici, announced that the top rate on earned income would not exceed 60%, following the French Supreme Court's recent ruling.  This was no doubt a bitter decision for Socialist Prime Minister Hollande, who in true socialist...(Read Full Article)