posted on Dec, 29 2013 @ 05:31 PM
reply to post by Mamatus
1 million Euros is more than a million dollars. It's actually about 1.3 million in our money, which would be about 975,000 dollars in taxes. The
French have had much higher rates. You would be left with a little under 400,000 dollars. While this seems horrid you might want to know that's still
an awesome wage in France and you can live quite well. Those who receive inheritance but otherwise do not make that salary are exempted from the
As for flight-Nope, not happening. This has happened several times throughout France's modern history and rich people didn't run off. There are many
ways to make money in France and it's a great place to live. France is currently feeling the pressure. One of their top officials stated this year
that is was "1788" again. That is one year before the revolution, you figure out what he meant by that. They have to do something. Is it the right
thing? I don't know.
As for Tax Havens, Monaco was the big one for years, but they backed off after General De Gaulle threatened to ram a tank down their throats. There
are few left for French Citizens. It should be noted this is not a PROFIT tax, it is a tax on SALARY. There is a very big difference between the two.
This is meant to curb what some see to as excessive compensation of CEO/Executive officers. Profit taxes have been high for years and yet France still
has a high GDP and is attractive for business.
Either way, the French have had Profit taxes as high as 90% with little impact on the numbers of the rich population in France. They stayed, they will
likely stay now. Where are they going to go? France has one of the highest living standards in the world. As a person who has been there, I assure you
the French upper crust wouldn't dream of skipping across the pond to this country for the most part. They tend to say rather nasty things about it.
edit on 29-12-2013 by antonia because: opps, forgot a word
edit on 29-12-2013 by antonia because: added a thought