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Indigestion for ‘les Riches’ in a Plan for Higher Taxes

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posted on Aug, 8 2012 @ 06:35 AM
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Linky

Coming Soon To The USA


The call to Vincent Grandil’s Paris law firm began like many others that have rolled in recently. On the line was the well-paid chief executive of one of France’s most profitable companies, and he was feeling nervous. President François Hollande is vowing to impose a 75 percent tax on the portion of anyone’s income above a million euros ($1.24 million) a year. “Should I be preparing to leave the country?” the executive asked Mr. Grandil.



...there are relatively few people in France whose income would incur such a tax — an estimated 7,000 to 30,000 in a country of 65 million — the gains might contribute but a small fraction of the 33 billion euros in new revenue the government wants to raise next year to help balance the budget.
As the "occupiers" and others like to point out, the "rich" are only 1% of the population(actually less than 1% are the really rich). We could take every single penny they have and it would not be nearly enough.


the tax could have enormous symbolic value as a blow for egalité, coming from a new president who has proclaimed, “I don’t like the rich.”

Reminds me of bammy. He projects a hatred for the rich which seems to make the sheeple ignore the fact that he is also rich.


“French people have an uncomfortable relationship with money,” Mr. Grandil said. “Here, someone who is a self-made man, creating jobs and ending up as a millionaire, is viewed with suspicion. This is big cultural difference between France and the United States.”
That is beginning to be the case here as well. Bammy has really worked hard to drum up a hatred for those who have succeeded here.


Many companies are studying contingency plans to move high-paid executives outside of France, according to consultants, lawyers, accountants and real estate agents — who are highly protective of their clients and decline to identify them by name. They say some executives and wealthy people have already packed up for destinations like Britain, Belgium, Switzerland and the United States, taking their taxable income with them.

They also know of companies — start-ups and multinationals alike — that are delaying plans to invest in France or to move employees or new hires here.
This is what the sheeple cannot seem to get through their thick skulls. People will only pay "so much" of their hard earned money, then they will just move. The rich are more mobile than the rest of us. Money gives them the freedom to relocate to more friendly environs. If they all continue to leave, so will the remaining jobs. We need to stop punishing work, productivity, and success. We need to punish consumption. The "fair tax" is the way to go. Income taxes are a failure. Either way, we must cut spending. Just cutting military spending won't help. Look at the "PIIGS", they don't spend much on their military yet they are still going broke. The common denominator is....


Taxes are high in France for a reason: they pay for one of Europe’s most generous social welfare systems and a large government. As Mr. Hollande has described it, the tax plan is about “justice,” and “sending out a signal, a message of social cohesion.”




posted on Aug, 8 2012 @ 06:54 AM
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Coming Soon To The USA


Really? Because Mitt Romney wants to increase taxes on anyone that makes under 200k a year. Small business owners included.

I guess "redistributing wealth" doesn't matter if it is siphoning money from the poor/middle class to favor the rich.




edit on 8-8-2012 by RealSpoke because: (no reason given)



posted on Aug, 8 2012 @ 06:55 AM
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It really doesn't matter what bommey has planned, bammy is going to win anyway.



posted on Aug, 8 2012 @ 07:04 AM
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reply to post by DarthMuerte
 


Verses the Republicans that have nothing to do with Romney that want to raise taxes on the poor and middle class?




posted on Aug, 8 2012 @ 07:08 AM
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They both have the wrong idea anyway. Raising taxes, especially income taxes is just a bad idea altogether. We need to get rid of the income tax entirely.



posted on Aug, 8 2012 @ 07:08 AM
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reply to post by DarthMuerte
 

I see the right wing economic brain cells are getting agitated. It will get worse because the logic of a capitalist economy is so flawed that even people who don't like politics are beginning to open their eyes. The only sheep are those who fail to see the inevitable conclusion of failed capitalist economic theory.....like yourself.

I suspect you know this deep down but are coming up against cognitive dissonance when admitting it.

Myth1 : freeing up capital at the top allows it to flow down - it doesn't it accumulates in ever greater quantities at the top.......you may have noticed!
Myth2 : Losing top earners (through high taxes) results in lower performing companies - Name me one company in the history of mankind that has gone down the tubes within a couple of months of the top man dying or moving to a.n.other company. Utter utter nonsense. Let the greedy buggers go and there will 10 people below him/her that can fill their shoes.
Fact1 : workers cooperatives perform above average. I can hear the howls of right wing despair already.



posted on Aug, 8 2012 @ 07:15 AM
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reply to post by DarthMuerte
 


If you hated income tax truly then you wouldn't just focus on Obama, nor the "hate of the rich".

This isn't left vs right. It's rich vs everyone else.


edit on 8-8-2012 by RealSpoke because: (no reason given)



posted on Aug, 8 2012 @ 07:16 AM
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they need to adopt a flat tax...period....one that cannot be raised...a flat out 20% of income....and thats it on everyone no matter how much they make....if they make 1000000 a year, thats a 200000 tax bill....pretty simple no? While we're at it..do the same for corporations....make 1 billion in a year, thats 200 mill....and we take checks.

This would solve many problems...as would cutting the amount paid out to other countries amd stupid ideas that become money pits....Bammy knows all about that dont he?



posted on Aug, 8 2012 @ 07:51 AM
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reply to post by Kastogere
 


Agreed, but the loop holes also need to be closed. It should be a flat tax, but with no deductions. Capital gains and investment income also need to be looked at too and included in the flat tax.

I also agree with the OP, that you can only tax the wealthy so much before they have enough and leave the US and that even taxing them at extreme rates will only put a minuscule dent in the problem. What will people gripe about when there's no more 1%'s? Who will they then target as the oppressors of the low and middle class? My guess will then be the 2%, then the 3%, etc.

People also have varying definitions about what differentiates the middle class and wealthy. A commonly used figure is an income of $250,000 a year. A married professional couple in their mid to late 30's can certainly earn this, and I doubt anyone would call them wealthy. What if they are entrepreneurs, who built a successful business through hard work over 15 or 20 years and make one or more million dollars per year? Should we really penalize them for the fruits of their labor through excessive taxes to subsidize bloated and wasteful social programs?



posted on Aug, 8 2012 @ 10:46 AM
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The thing that Socialists never seem to understand is that if you impose a high tax on high earners, they will leave your country.

In our modern age, you can host many businesses anywhere. Why would you want to live and work somewhere where they take 75% of what you earn, when you can live other places that let you keep a much higher percentage of your earnings?

You hear people saying that the rich don't pay their fair share of taxes. I'd like to know what a fair share is. Is it 20% or 30% or would you have them pay 90%?

What is a fair share?

I live in California and have watched a number of businesses incorporate in Nevada because they have a more favorable business climate. Yet our esteemed political representatives don't seem to get it. The more businesses that leave the state, the less income they have to play with. It's all catching up with them now that the state is in so much debt.




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