French President François Hollande is committing to tax income above one million euros at 75%, which has already produced results:

“Many companies are studying contingency plans to move high-paid executives outside of France, according to consultants, lawyers, accountants and real estate agents. They say some executives and wealthy people have already packed up for destinations like Britain, Belgium, Switzerland and the United States, taking their taxable income with them. They also know of companies — start-ups and multinationals alike — that are delaying plans to invest in France or to move employees or new hires here.”

What would you do if you faced an income tax rate of 75%, then of course had to pay all the other taxes you are subject to?

Meanwhile, here in the United States, of the 314 million residents, over 100 million receive some form of government welfare (this number excluded Social Security and Medicare). Do nearly one-third of Americans truly need government handouts? Is a culture of dependency being created? Or is there something more nefarious happening here as politicians have discovered it is much easier to be reelected when they are handing out “free” money?