French president François Hollande is famous—or infamous—for wanting to impose a 75% tax on French millionaires. But the French Constitutional Court ruled that the tax is unconstitutional because it does not guarantee taxpayer equality. The ruling comes as a stunning political blow to the Hollande government, which made the tax a centerpiece of its economic and fiscal policies, but even more embarrassing than the ruling is the revelation—contained within the story—that when it comes to actually raising revenue, the tax “is truly negligible.”
This of course indicates that Hollande imposed the tax not because he thought that it would improve France’s fiscal situation, but rather because he wanted to engage in class warfare for purely political reasons. I suppose that the day may come when I grow numb to this kind of massive cynicism, but that day has not yet arrived.
One can only imagine how many class warriors in the United States—some of them as cynical as the people who staff Hollande’s government—are disappointed with the decision of the French Constitutional Court. And one can only imagine how many of those people work at 1600 Pennsylvania Avenue.