How did we go from those rates in 1965 to what we have today and still provide infrastructure support and services - wait I remember - back then our economy used to be solvent!
edit on 5-1-2013 by ganjoa because: spelling
Originally posted by Bluesma
I thought this might come up here, but it never did. I kind of expected the more conservative crowd to grab it and ride it as another example of "how Europe sucks". - and the Ayn Rand fans a chance to call her prophetic...
The newly elected Socialist President François Hollande promised he'd place a 75% income tax on the richest in the country, and got ready to implement it.
Even during the elections, it was expected that this would cause the most wealthy to leave the country, and to invest elsewhere, and the Brit's got ready to welcome them. Frankly, I don't understand those who ignored that perfectly evident outcome.... apparently they were betting on the pure nationalistic spirit and desire to aid ones country
So the first big publicized action came from Gerard Depardieu, famed french actor and one of the richest men in France. Besides his successful acting career, he owns restaurants, hotels, vineyards.....
He decided he would pack up and move to Belgium and change nationalities.
This made an uproar of criticism from the political arena, which he reacted strongly against.
Putin heard all this and took the opportunity to grab some press- he offered Russian citizenship to Depardieu, inviting him to move to Russia (where the income taxes are a flat 13% rate. )
This seems to have worked- the french government have pulled back on the new tax rate and will lower it.
It's not exactly Atlas shrugging....... but the concept is there. Depardieu is an actor- not an engineer, and seeing his pasty obese body pushed around in a wheelchair brings to my mind the fruit of obsessive consumption more than brainy investment and development for the nation.
Buts he's got the money now- we gave it to actors and soccer players, Mc Donalds and KFC, bread and circuses...... the people have spoken and now we have to bend to them and recognize they have us by the balls.
I am personally against the Socialist party, and hate Hollande and found his tax idea stupid from the beginning... but still, as the rest of the people are accepting that they will cut back on their (already frugal, from an american pont of view) way of life, and suffer, to help save Europe from the countries that screwed up, people like him making a fuss because he might have to cut down on the number of mansions he has kind of strikes me as tasteless. He would have done better to move out as quietly as possible. But then maybe they wouldn't have put a stop to the implication of this ridiculous tax!edit on 5-1-2013 by Bluesma because: (no reason given)