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The war between expropriators and producers has taken a wholly expected turn in France. The recently-elected socialist government announced plans to slap a 75 percent tax rate on the dwindling number of its citizens who make more than a million euros (about $1.2 million). Obamanomics on the Continent!
French voters guillotined the reelection hopes of center-right President Nicolas Sarkozy in favor of Socialist François Hollande, putting France on a faster road to national collapse.
The welfare states of Western Europe have practiced milder forms of the statist economics and spiritual collectivism that were found in the former Soviet bloc. They have thus been experiencing a slow-motion version—now accelerating—of the collapse that occurred two decades ago in the East.