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Posted: 8:53 a.m. Monday, Oct. 25, 2010

TAXING WEALTH 

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By Neal Boortz

It is particularly fitting that France is currently paralyzed by union workers and communist students upset over reforms of their pension systems, at the same time that America is voting for its future path. If we keep Democrats in charge, you can rest assured that these current scenes is France will be taking place in your backyard. Maybe not today or tomorrow, but your grandchildren will be forced deal with the situation. France is an example of a country drowning in entitlement culture, validated by its generations of socialist policies. An American Democrat utopia.

There are two battles currently being waged in France. The first is over pension reform. Remember that in France, where the official debt level is 76% of economic output, total debt rises to 549% once all of its current pension promises are taken into account. In light of that news, Nicolas Sarkozy has proposed extending the retirement age from 60 to 62. Because of this proposal, Sarkozy has been called anything but a child of God. Workers are protesting that they are being "unjustly penalized for the failures of global finance." Their solution is to call for increased taxes on banks and rich people. That leads to the second battle being waged in France: the tax shield. Years ago, pre-Sarkozy, France imposed what is called the "tax shield," which puts a tax cap of 50% on income earned in France. A 50% cap! But these protestors are calling for the removal of this cap, saying that it has become a "symbol of injustice." An injustice to the person who earned the money that is being taken away at the point of a gun a redistributed to union government workers and moochers? Nope. An injustice to the union government workers and moochers who are entitled to more of that money!

Are you ready to wage that battle here in the United States? It is coming if you don't put a stop to things on November 2nd. 

 
 

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