Confiscatory \Con*fis"ca*to*ry\, a. Effecting confiscation; characterized by confiscations. ``Confiscatory and exterminatory periods.'' --Burke.
In conjunction with lower marginal rates that would effectively dispel the present perception of almost confiscatory taxation of interest income.
Now, particularly for gains recognized on investments held for many years, the tax results in a confiscatory tax on capital as well as a tax upon income.
Countries with confiscatory rates at the top generally also tax those in the middle and the bottom more heavily.
Things began to heat up late last year, with the turnout of more than 30,000 people at a demonstration in Turin opposing the current level of confiscatory taxation.
Postcommunist social democracy turns out to mean exactly what social democracy has always meant: fiscal irresponsibility, truckling to unions, pandering to specialinterest groups, and confiscatory taxation.