French Socialists Approve 75% Tax Rate for High Earners

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posted on Jul, 4 2012 @ 11:34 PM
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Originally posted by Stormdancer777
reply to post by FlyersFan
 


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



You took the words right out of my mouth! Once the wealthy have all ben fleeced, the upper middle class, then the middle class, then the poor will get hit.

C'est la via!




posted on Jul, 5 2012 @ 01:46 AM
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1 Million Euros a year is about 1.25 Million Dollars a year. Or put another way a 75 percent tax would leave the person with the equivalent of $312,000 Dollars a year after taxes. Doesn't that seem like more than enough money to live really well on each year?

That said, honestly what is the rest of the money that they collect really going to be used on? I don't know too many people that mind seeing the strong helping the weak, but I really don't know anyone that thinks that the hard worker should support the lazy. One of the basic reasons that communism fell in eastern Europe was because no one wanted to work their buns off to gain the same result as a person that did significantly less work. So the productive people just put in their time and the system slowly rotted. So too will any tax rate that is so high that industrious people just give up. In the end it just counter productive to building a thriving society.

I can't speak on what France should do, but in the US I don't see why we don't just go with a flat federal tax rate. One rate that is the same for everyone with no deductions except for a home or school loan. That way if you work hard you will not have a disincentive to continuing to do so, and because there are no loopholes everyone pays. Also because it is a percentage inflation is automatically taken care of.



posted on Jul, 5 2012 @ 01:52 AM
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reply to post by SubTruth
 


Do you watch a lot of Fox News?

Just wondering.



posted on Jul, 5 2012 @ 06:14 AM
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Originally posted by caterpillage
Not much incentive then to risk your time, energy and capital starting a business and building into something. Much easier to just stay on the low end and live off the system.

There ya' go. Exactly.


Originally posted by jlfose
Or put another way a 75 percent tax would leave the person with the equivalent of $312,000 Dollars a year after taxes. Doesn't that seem like more than enough money to live really well on each year?

No one has a right to limit how much a person makes. If a person is smart and/or hard working, then why should they be limited in their prosperity simply because someone else arbitrarily picks a number for a 'livable wage' cap?

If someone has the ability to earn a million dollars or a million euros .. then they should be able to do so and they should be able to keep what they earn. It's THEIR brainpower and THEIR effort that makes that wealth. No one has a right to steal it from them.

Oh excuse me .... apparently France now feels it has a right to theft simply because someone makes a good living. The idiots there have never read Atlas Shrugged .... :shk:



posted on Jul, 5 2012 @ 06:28 AM
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reply to post by FlyersFan
 





It's THEIR brainpower and THEIR effort that makes that wealth. No one has a right to steal it from them.


I agree that people should be able to make a million, if they have the ability to do so. But as i keep pointing out. That wealth can only be created in a country where the conditions allow people to become wealthy. The infrastructure of a nation, the defense of a nation, the legal and governance of a nation. If these things hadn't been paid for by generations of tax payer then, there would be no America in which one could become rich.

I would like to make a million, but if I did I would not begrudge paying my taxes back into a pot that has provided the nation with things that only tax can pay for. I don't have kids but still want there to be good public education, for the benefit of the nation as a whole, so there maybe more millionaires.



posted on Jul, 5 2012 @ 06:34 AM
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Originally posted by woodwardjnr
I would like to make a million, but if I did I would not begrudge paying my taxes back into a pot that has provided the nation with things that only tax can pay for.


I never said that they should stop paying taxes. I'm saying that everyone should pay a fair share. And charging someone 75% simply because they earn more is nothing more than THEFT. A 'fair share' would be a flat tax across the board. Example - let's say everyone pays 10%. (pick a number) No one is penalized for knowing how to make a better living. No one is the victim of theft from jealous people who make less. No one gets a free ride off the wealthy. And there is no unending entitlement pot of money for slugs to leech off of. Those that are able to work can no longer freeload and yet there will be money there for those who can't.

75% of someones income going to a government that is just wasting it ... that's theft and insanity.



posted on Jul, 5 2012 @ 07:21 AM
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Originally posted by Submarines
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.


Explain why the poor and middle class either don't pay taxes or get their taxes refunded. It's because they are living beneath the poverty level. This is something all of the people who cry they don't pay taxes fails to point out. So shame on the poor and middle class for not living on the street and starving so people who only has a fraction of their income taxed could pay less taxes.



posted on Jul, 5 2012 @ 07:37 AM
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reply to post by jlfose
 




1 Million Euros a year is about 1.25 Million Dollars a year.


Ok we'll take that.



Or put another way a 75 percent tax would leave the person with the equivalent of $312,000 Dollars a year after taxes


No they wouldn't.

Given the current US tax brackets if someone was to earn $1,250,000 p.a. then they would clear approximately $843,362 p.a. giving an overall tax rate of around 32.5%.

If a similar tax bracket of 75% for earnings over $1,000,000 was introduced then the new earnings would be approximately $743,563 p.a. with an overall tax rate of about 40.5%.



. Doesn't that seem like more than enough money to live really well on each year?


More than enough - I'd gladly pay more tax if it was genuinely being put to constructive use within the country.

I personally find it obscene that individuals can amass so much wealth with the sole intention of hoarding it and not to put it to any sort of beneficial use other than their own personal aggrandisement - and the vast majority of it on the back other people's blood, sweat and at times misery.



I can't speak on what France should do, but in the US I don't see why we don't just go with a flat federal tax rate. One rate that is the same for everyone with no deductions except for a home or school loan. That way if you work hard you will not have a disincentive to continuing to do so, and because there are no loopholes everyone pays.


And as an Englishman I can't really speak on what the US should do but what you propose means that those with the least proportionally pay more than the most wealthy - that seems a bit cockeyed to me.
edit on 5/7/12 by Freeborn because: Spelling, grammar, clarity etc



posted on Jul, 5 2012 @ 08:29 AM
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Originally posted by FlyersFan

Originally posted by Wertdagf
LOL yeah because we all all know people with desk jobs deserve to live in mansions.
the work is sooooo hard it took so much education..

People deserve to get paid for what they do.
Go to college ... earn an engineering degree ... get paid for your brain power.

Seriously .. you just sound jealous.



Originally posted by randomname
if the rich are just going to store their wealth in a computer database, what good is it doing anybody.

It's THEIR money. They earned it. It's THEIRS.
It's NONE OF OUR BUSINESS if they want to save it or spend it or invest it.




Do I not have something to say when they bribe poleticians to create new pension law systems where they force us to set aside money each month to be played by bankers on the stockmarket and get no pensions? The ones who really make money do not earn money they parasite the money by changing the system against the middle to lower class. I have seen the manipulation up close where the owner backstab his partners and his company always have a rought time and never made any profits and could afford any increase in salery while the profit was moved to another company and the purchasing power of the employes went downhill. These employes even had a profitshare clause that they had given from the company that they never got anything from.

I do not say the persons are not smart. But they are clearly imoral. There is a reason the bible say the chance for the rich to enter heaven is less than a camel going thru a pin.

Frankly my problem is just that. People deserve to get paid for what they do. Go to college ... earn an engineering degree ... get paid for your brain power. You do not get that anymore. The system is screwed up. Now it is just a game och chance where the most ruthless liars/manipulator win. Nowdays it is more important to tell people about what a god job you do for your career instead of doing the work that needs to be done.

Just like the carsalesman in Sweden buying up all cars in the auction sites and making sure the prize is overly high to be able to make more money since all cars are sold by carsalesmen. This is clearly creating a demand that do not exist and there is not enought competion since there is no drive for competion since it is better to keep high prices for the sellers and be a big parasite on the working class/middle class. And of course the goverment helps the manipulation since they put out costs for importing cars. And they keep complaining that we dont buy the overprised cars and keep pushing the enviroment card to make it illegal to have old cars.

You gotta love groups of people cornering a market and making sure it becomes parasitic instead of a service to the community because of their greed.
edit on 5-7-2012 by apushforenlightment because: spellchecking



posted on Jul, 5 2012 @ 09:04 AM
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Since this law will actually effect very few people, it looks like political theater to me. Most of the wealthy get there money from investments wich appear to be exempt from this law.



posted on Jul, 5 2012 @ 09:08 AM
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Originally posted by Stormdancer777
reply to post by DaRAGE
 

Do you pay taxes?

I would like to have a million.

If you just won a million would you want to give up seventy five percent of it?

I would like to decide who got the other 75%, not where the government spent it.



That's because you're greedy. You're everything that is wrong with capitalists, so thanks for highlighting that.

You're saying you wouldn't be content with winning 250k is what you're saying. Poor you. Perfect example of a greedy capitalist, you always want more more more more more more more, there is no end in sight when it comes to your greed

Most people would be lucky to came away with $75k before tax, and you're talking about earning 250k after tax isn't enough.



posted on Jul, 5 2012 @ 09:38 AM
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i'am going to laugh so hard when millions of french are starving in the streets, because they ran out of other peoples money.

the poor and middle class don't bail anyone out.

the socialists in government bail them out, and FORCE the poor to pay for it.

will you idiots ever realize, that it's your government who is the tyrants..



posted on Jul, 5 2012 @ 09:40 AM
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reply to post by JailTales
 


i say your greedy
you always want more more more more of my money.
stop stealing my money



posted on Jul, 5 2012 @ 10:42 AM
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reply to post by FlyersFan
 


YOu need to buy a clue or shake off that brainwashing.

The reason why the "rich" need to be taxed more is not because they work "harder" or are more "productive" it is because they know how to take from everyone else for themselves.

My company for example cut the work force this year because we are experiencing tough times in this economy.. next thing we know the CEO is getting a big bonus and an increase in salary.....

GEE WONDER WHERE THE MONEY FOR THAT RAISE CAME FROM IN THIS "TOUGH" ECONOMY!

why not tax them. they are in the works to slash our wages to stack at the top..that is sure working hard.. and being more productive... why work when you can steal. God forbid they innovate our product/service to make more money to earn a raise.. we can just cut from the bottom they don't need it to live.


And if you say if you don't like work for yourself. . well let me tell you. It is not like the olden days when you could just get up and work for yourself. You can if you want to break a few laws but most industries are setup for go big or get out.. plus all the certifications and licensing you need to get just to do almost any kind of contracting.. not to mention liability insurance and insurance if you have employees. it is a nightmare. Little by little they plug all the holes so they funnel you into their slave shops.

what really grinds my gears is how many believe that tax breaks on big money creates jobs... sure it creates jobs. I will tell you what kind of jobs you get. ALl the jobs that have been lost they hire them back on at half wages so they hire two for one. yep they double the job creation and people have to work 1 or 2 jobs to get back to where they were.

BUT no you are absolutely correct these people work soo hard.


tax them to hell

they will just cut more at the bottom in response and raise prices in response anyways



edit on 5-7-2012 by votan because: (no reason given)
edit on 5-7-2012 by votan because: (no reason given)
edit on 5-7-2012 by votan because: (no reason given)
edit on 5-7-2012 by votan because: (no reason given)



posted on Jul, 5 2012 @ 10:48 AM
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Taxing the rich is not the answer. It means less jobs, lower wages, and less production.

People need to understand that we need less regulations and taxes, but in a new monetary system based on something rare.

This can only be done by a total system crash, which is coming. Buy gold and silver to save your wealth. And food, ammo...



posted on Jul, 5 2012 @ 10:50 AM
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This French Socialist Government must be a glitch in the Matrix


I applaud their efforts to redistribute wealth. If the rich want to piss off and trade in another country then fine, GO! and take your bloody ball with you!

I have no problem with rich people. I have no problem with people who work hard to live well. Thats the way it should be. However, when these people earning a stupid amount of money they'll never spend in 6 life times at the expense the majority of people in the world then im sorry but something has to be done.

The world produce's 4x's the amount of food it needs yet half of the world is starving? Cmon, this is 2012 for god's sake. No need for it.



posted on Jul, 5 2012 @ 10:51 AM
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It's still lower than the tax rates under every Republican's God on Earth, Ronald Reagan:

Tax Rates - Historical Chart



No evidence the rich make jobs. Folks making $1.24 million a year usually invest their money ANYWHERE, not in small sandwich shops, car washes, or tech startups.



posted on Jul, 5 2012 @ 10:58 AM
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Originally posted by StarBoy
Taxing the rich is not the answer. It means less jobs, lower wages, and less production.

People need to understand that we need less regulations and taxes, but in a new monetary system based on something rare.

This can only be done by a total system crash, which is coming. Buy gold and silver to save your wealth. And food, ammo...



Less regulation and tax's are what gave us the "Boom & Bust" economics. Of the many multinational corporations out there i dont think i can even name a handful that have done poorly through out this recession. However, i can tell you that there are a lot of unemployed people, pensioner's who cannot afford to feed themselves, people losing their house's, homelessness is on the rise, cuts in public services such as the police, fire and ambulance service.
I can tell you the people bearing the brunt of this recession are the working and middle-classes. For the rich? Well, its just another day in paradise



posted on Jul, 5 2012 @ 10:58 AM
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Originally posted by StarBoy
Taxing the rich is not the answer. It means less jobs, lower wages, and less production.

People need to understand that we need less regulations and taxes, but in a new monetary system based on something rare.

This can only be done by a total system crash, which is coming. Buy gold and silver to save your wealth. And food, ammo...


It means less jobs and lower wages because we put the "rich" on this pedestal where they cannot be hit by hard economic times. YOur mind set is one where they can't suffer at all... even if they did have to take a hit on income they will in no way be impacted like the common laborer.

If you want to continue to egg on this feudal/slave type of system go ahead you are not really changing anything at all.

If you give tax breaks to the rich there is no guarantee they will create good paying jobs because they really don't have to . Especially if they do not even live in your city, state or country. If your city state or country go to hell what do they care they do not live there and they don' t have to live with the consequences.
edit on 5-7-2012 by votan because: (no reason given)
edit on 5-7-2012 by votan because: (no reason given)



posted on Jul, 5 2012 @ 11:03 AM
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Originally posted by jlfose
1 Million Euros a year is about 1.25 Million Dollars a year. Or put another way a 75 percent tax would leave the person with the equivalent of $312,000 Dollars a year after taxes. Doesn't that seem like more than enough money to live really well on each year?


It doesn't work like that ...
The 75% tax is applied on all your income beyond 1 000 000. I will show you an example :

Year's income for a single person : 1 200 000 € (= 1,486,091.14 $)
Taxes : - 0 % of 6088 € = 0 €
- 5,5 % of (12 146-6 088) € = 333,19 €
- 14 % of (26 975-12 146) € = 2 076,06 €
- 30 % of (72 317-26 975) € = 13 602,6 €
- 41% of (150 000 - 72 317) € = 31 850 €
- 45% of (1 000 000 - 150 000) € = 382 500 €
- AND 75% of (1 200 000 - 1 000 000) € = 150 000 €

Total = 580 361,85 € (= 718,791.61 $) out of 1 200 000 (48%, and it's about 39% actually for the same annual income).

I hope it's more understandable this way.





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