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  The wealthiest men and women in France are already moving out. The wealthiest man applied for Belgian citizenship last week and he was not alone. The threat of higher taxes on the wealthiest French Nationals is already resulting in a lower tax take as they 'off-shore' their assets and take up residence in other nearby countries with lower taxation rates. That's the reality. The French government will struggle to implement austerity measures due to the nature and militancy of labour relations and will, in conjunction with this failure, find that they are collecting significantly less tax - perfect storm for failure on both fronts in their battle against their national deficit.
  
  Squeezing the rich until the pips squeak only results in lower tax revenue over all and the targets of the squeeze remain largely unaffected. Its us poor sods who do not have the wherewithal to move out but who work a 90 hour week to support our families and look after our elderly relatives who then get reclassified as 'wealthy' and end up making up the shortfall from our businesses and already meagre disposable income.
  
  I'm of no particular political persuasion (I tend towards voting tactically or for the local candidate who has made the best impression, depending on how much of a mess the incumbant government is making/has made of the economy), but sensible taxation would see anyone earning £10k or less per annum taken out of the tax system, anyone earning between £10 and £45k paying 20% on all income over £10k and everyone earning more than £45k paying 40% on all income over £45k. This would most likely increase the overall tax take, there is certainly plenty of evidence that this would happen here, just as it has happenned elsewhere in the world where similar logic has been applied in conjunction with closing off agressive tax avoidance schemes.

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