But it makes little sense to impose confiscatory tax rates which would collect little revenue while discouraging economic activity.

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Simply stated, it is very difficult for governments to impose and enforce confiscatory tax rates when investors and entrepreneurs can shift their economic activity to jurisdictions with better tax policy.

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Along the lines of the above, a more confiscatory estate tax is often trotted out as a way of equalizing wealth inequalities.

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For instance, the hefty estate tax suffered by Miss Windsor is best rectified by eliminating confiscatory estate taxes, not redefining marriage.

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Too high tax rates are an economic killer because they create a confiscatory feeling that kills off any incentive for work, gain or risk.

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But he hinted that the rate would be lower than 75 per cent, pointing out that the constitutional council had indicated that a total tax burden above that level, including other levies, "could be judged as a confiscatory rate" by the council.

CNN: France hints at lowering 75% tax rate