Over the last four years, slowly and without abatement, the economic outlook across the globe has worsened significantly.
In France, a new 75% income tax on individuals earning over a million Euro ($1.2 million) per year was announced today. Incomes of $150,000 will be taxed at 40%. French business owners and citizens are scrambling to leave the country to avoid the new legislation. This has been done to offset the billions being used to bail out failing banks and reckless government spending.
Similarly, in the United States next year, individuals and small business owners will be hit with massive tax increases as universal health care is implemented across America.
Last week the Spanish Congress had to literally barricade themselves behind police and locked doors as thousands of protesters stormed their Congressional hall demanding the resignations of every representative.
The austerity sledgehammer is coming down hard, and everyone is starting to feel it. Read more....