Tax hikes proposed on "the rich" in France (75% rate on income over about US$1M) are making "the rich" feel hunted down. Consider the following quote: “There is a real growing feeling that ‘the rich’ are being hunted down in France at the moment,” said Bernard Grinspan, managing partner of the Paris office of Gibson Dunn, the law firm. “They are being stigmatized and this is encouraged from the top. A number of people left before the election and more since, especially people in the private equity world. Entrepreneurs are very worried.” (Here's the link to the full article on CNBC.)
Most working Americans are at risk from this sentiment. All you need to do to be at risk from this dangerous mentality is to be perceived as having more than the next guy. Or, as some of the horrible rhetoric claimed, you just need to be perceived as not having earned what you have.
When your ability to keep what is yours depends on the acknowledgment and acceptance by someone else -- someone else who envies you and covets everything you have (i.e., the typical mugger or criminal) -- you will lose what you have when the first greedy, selfish person crosses your path. This class warfare was echoed here recently at the Democratic National Convention.
If you have a job -- for the moment -- and a house, the Democrats have some terms for you. A sucker. A patsy. A mark.
Eric Dixon is a New York lawyer and political strategist.