Black Friday Sale! Get 25% Savings When You Subscribe to PLUS Today!

France's Socialist Government Proving Economic Laws Correct

Cal Thomas | Syndicated Columnist | Monday, October 15, 2012

France's Socialist Government Proving Economic Laws Correct

There are all sorts of laws -- moral, physical and economic among them.

France's new socialist government is proving an economic law correct. If you overtax businesses and individuals, they will find someplace else to go. A flood of top-end properties are being listed by real estate agents as businessmen seek to leave France before stiff new tax increases -- up to 75 percent -- take effect. One broker calls it nearly a "general panic."

While the exodus is not yet on the scale of 1981 when France's last socialist president, Francois Mitterand, was elected, it's starting to build.

This is the point of the film Atlas Shrugged. The second part opened last Friday. Go see it. Yes, Ayn Rand, the book's author, was an atheist and other things, but her central point was that overtaxing and over-regulating government stifles incentive. The wealth and job creators won't stand up for it and will leave.

Is France on the verge of proving her point? Is America? The signs aren't good, and a lot will depend on our election, coming soon.

I'm Cal Thomas in Washington.

Publication date: October 15, 2012