“It was reported that more than 8,000 French households had tax bills that exceeded 100% of their income in 2012. This occurred due to a so-called ‘one-off levy’ imposed by the socialist president in an attempt to ‘offset’ previous tax breaks. Ouch. Contrast France with these 18 countries that have no personal income tax. When it comes to confiscating wealth, desperate governments know no limit – other than ‘what they can get away with.’ In other words, it is only pragmatic to assume that anything within a desperate government’s immediate reach becomes fair game.”
http://www.caseyresearch.com/articles/what-level-of-taxation-is-too-much
