French Socialists Approve 75% Tax Rate for High Earners

Slavery to the state. Atlas will shrug in France.

France Raises Taxes on Wealthy, Companies to Narrow Budget Gap

France’s two-week-old Socialist government unveiled 7.2 billion euros ($9 billion) of tax increases to meet deficit-reduction goals and avoid bond-market punishment.

The 2012 measures, approved at a Cabinet meeting today, presage even larger tax increases and spending cuts next year in an economy that’s barely expanding.

The largest new levy will be a one-time surcharge on wealthy individuals’ assets to raise 2.3 billion euros. Another 898 million euros will be reaped by ending a payroll-tax holiday. Other steps include surcharges for oil and financial companies, each raising an additional 550 million euros, and a levy on dividends and stock options.

Check it out ... pure insanity ..

Among the measures that will be in the 2013 budget will be a 75-percent tax rate for income of more than 1 million euros.

So if you dare to make a lot of money and/or be productive ... the French government will steal 75% of your earnings. Slavery to the State. Atlas will shrug in France.

Because its not like corporate welfare hasn't raped this world for trillions.

How dare they ask for a small % back.

If France has positive growth after these policies are implemented, it will be a big wake-up call to how much people are lying about the so called "job creators" worth.

However, if it falls apart at the seams then yes they should dismantle such policies as rapidly as they can.

reply to post by FlyersFan


Slavery to the state?

If anything, it will reign in those who think they can get away with paying little or no taxes.

Why do you always defend people with money? Please answer me because it's illogical when they're the very ones keeping us all down.

Welcome to London then our new French residents and just in time for the olympics

but 75% thats taking the ooh-la-la but then again when theres no rich people to tax as they've all gone they'll start to tax the poor more and more until the system goes boom

Mean old France for taxing the people who caused the financial crisis. The middle class and poor bail these scumbags out when they cry we are about to fail and now that they want to tax them in a attempt to get their money back it's slavery to the state.

I can see it now.

The French asking where the money is only to realize all the rich people left Dodge.

Originally posted by nuclear12346
Because its not like corporate welfare hasn't raped this world for trillions.

How dare they ask for a small % back.

If France has positive growth after these policies are implemented, it will be a big wake-up call to how much people are lying about the so called "job creators" worth.

However, if it falls apart at the seams then yes they should dismantle such policies as rapidly as they can.

edit on 4-7-2012 by nuclear12346 because: (no reason given)

Seems like France has thought of something America has forgotten. Here in the states the wealthy paid upwards to 90% in taxes and people still became very wealthy. Also the economy exploded as a result. There was more than enough good paying jobs to go around and the wealthy invested money back into the companies instead of hiding money overseas while begging the government for tax breaks.

for France for making sure everyone feels the pain of taxes.

I'm not sure how the French tax code works, but if it is like the US, 50 percent of people, all lower and middle class either don't pay taxes or get their taxes refunded. Imagine if everyone paid a fair share of taxes, how much the governments would have.

What this is all about is those that don't pay tax now, and really don't want to in the future, want people to tow the line for them. The few pay for the many.

So are suggesting that someone who earns over 1 million euros actually works more than 50 times harder as some one who is on 20, 000 euros a year?

reply to post by FlyersFan


Does Jimmy Carter run France now? I seem to remember a time when our economy had double digit inflation, double digit interest rates and double digit unemployment. The Misery Index and Stagflation were new terms coined on Jimmy's watch and he had the same tax rate.

This is why they don't teach real history in schools any longer. The socialists would be called out on their BS if the truth was taught. Those who don't know history are doomed to repeat it.

Good Luck France! You'll need it just like we did.

welcome to the US, french rich people

please spend some money while you are here

Its fair but i think all the rich french people will get away...

reply to post by buster2010


Our economy exploded alright and there was nothing left. Check the numbers for yourself.

Stagflation means a stagnant economy couple with inflation. It is not a good scenario.

The Misery Index was highest under Carter. I thought it was created then but I was wrong. It has been around a while but he really screwed things up when he had that high tax. That's why he only had one term.

en.wikipedia.org...

If someone took some of my money to fix something that was broken I would think I would be entitled to own it once it got fixed.
Likewise the rich should be entitled to own the country if things get better.

If not,
first they came for the rich,...

reply to post by sasquatch5100


Real history doesn't begin with Jimmy Carter's presidency.

If you look back further, taxes were much higher yet we had some of the most explosive growth in our country's history.

We really should take a lesson from the French on this one. The wealthy and corporations have had the wealth redistributed to them for far too long. It's time for all of us to benefit from the work done in this country instead of the elite benefiting while the worker is uncompensated.

Over the last 30 years, CEO Pay Grew 127 Times Faster than Workers' Pay

That's purposeful redistribution of wealth! From the people to the CEOs and wealthy!

CEO pay spiked 725 percent between 1978 and 2011, while worker pay rose just 5.7 percent, according to a study by the Economic Policy Institute released on Wednesday.

I don't care how it happened or which party was in power during what time. The facts speak for themselves.

reply to post by kwakakev


I'm suggesting that EVERYONE should foot the bill.

If you want to go that route, why are the people only making 20,000 euros? What have they done to improve their situation? What kind of investment of time do they put into their situation? Same question for those that are making 1,000,000 euros. What have they done to get into the situation they are in?

If you are only making 20,000 euros or dollars, you can be doing things to make more. If you aren't, you are simply relying on others to make your ends meet. I feel leaching off of society is wrong.

reply to post by FlyersFan


Who they gonna tax when all the rich people are gone?

reply to post by nuclear12346


The "most" explosive growth was when? The 80's and 90's. The longest bull run in U.S. History was 18yrs long. from 1982 to 2000. What was the tax rate?

Here's the thing. Consumer spending is 70% of our economy so if consumers have more money to spend, which means the govt takes less than 70% of our economy benefits immediately. So explain to me how the rich having less money for their boats, houses, vacation homes, etc.. does us all better? Working class people make those things and work in those factories. When those factories have less orders the working class suffers.

Or is it more complicated than that like politicians would have us think?

It is not complicated, it is not rocket science. Just like when libs say we can't drill our way out of high oil prices but they ask Saudi Arabia to increase production to help us.

Yet in the US the super wealthy continue to get away with fleecing the average joe. Here in the US, everyone has to pay for this economic downfall one way or another, but not the corporations. Oh no, we can't touch the record profits these corps are making during these times.