France's 75% tax rate approved by top court after revisions
513 replies, posted
[url]http://uk.reuters.com/article/2013/12/29/uk-france-tax-idUKBRE9BS05A20131229[/url]
[quote]It was originally designed as a 75 percent tax to be paid by high earners on the part of their incomes exceeding 1 million euros, but the council rejected this, saying 66 percent was the legal maximum for individuals.
The Socialist government has since reworked the tax to levy it on companies instead, raising the ire of entrepreneurs.
Under its new design, which the Council found constitutional, the tax will be an exceptional 50 percent levy on the portion of wages exceeding 1 million euros paid in 2013 and 2014.
Including social contributions, its rate will effectively remain roughly 75 percent. The tax will, however, be capped at 5 percent of the company's turnover.[/quote]
[url]http://www.bbc.co.uk/news/business-25541739[/url]
[quote]France's highest court has approved a 75% tax on high earners that is one of President Francois Hollande's signature policies.
The initial proposal to tax individual incomes was ruled unconstitutional by the Constitutional Council almost exactly one year ago.
But the government modified it to make employers liable for the 75% tax on salaries exceeding 1m euros (£830,000).
The levy will last two years, affecting income earned this year and in 2014.
Football clubs in France went on strike earlier this year over the issue, saying many of France's clubs are financially fragile and say the plans could spark an exodus of top players who are paid huge salaries.[/quote]
What the fuck, talk about unfair and discriminatory.
75% is a bit too far.
Smurfy I would expect better from you to kinda mention on what exactly is the 75% tax rate taxing.
You don't get 75% of your income taken away. If you make a [B]million fucking euro[/B] per year ([B]31 fucking times more than any average Frenchman[/B]), they take that million and tax it at the same rate they would tax it if it was 900k euro a year, and then take what's above million and tax that surplus past million by 75%. The bottom line is that if you were FUCKING LOADED before, you will be FUCKING LOADED afterwards, anyway.
[QUOTE=Awesomecaek;43346225]Smurfy I would expect better from you to kinda mention on what exactly is the 75% tax rate taxing.
You don't get 75% of your income taken away. If you make a [B]million euro[/B] per year, they take that million and tax it at the same rate they would tax it if it was 900k euro a year, and then take what's above million and tax that surplus past million by 75%. The bottom line is that if you were FUCKING LOADED before, you will be FUCKING LOADED afterwards, anyway.[/QUOTE]
Taxing high earners more is still unfair because it punishes people for being successful though.
Please reelect this man. I want to see France continue in this direction.
[QUOTE=SPESSMEHREN;43346241]Taxing high earners more is still unfair because it punishes people for being successful though.[/QUOTE]
So folk who can barely afford to live should take the brunt of the taxes as opposed to people who can actually afford to pay the taxes?
Fucking.
Genius.
[QUOTE=Awesomecaek;43346225]Smurfy I would expect better from you to kinda mention on what exactly is the 75% tax rate taxing.
You don't get 75% of your income taken away. If you make a [B]million fucking euro[/B] per year, they take that million and tax it at the same rate they would tax it if it was 900k euro a year, and then take what's above million and tax that surplus past million by 75%. The bottom line is that if you were FUCKING LOADED before, you will be FUCKING LOADED afterwards, anyway.[/QUOTE]
Yes, because if you're successful you should lose the right to keep a respectable percentage of that income. 75% is too much regardless of what's being taxed.
[QUOTE=bravehat;43346252]So folk who can barely afford to live should take the brunt of the taxes as opposed to people who can actually afford to pay the taxes?
Fucking.
Genius.[/QUOTE]
It doesn't have to be one extreme or the either, you know.
[QUOTE=SPESSMEHREN;43346166]What the fuck, talk about unfair and discriminatory.[/QUOTE]
Truly the people with the most money are the meekest and most oppressed among us...
[QUOTE=Skarr;43346261]Yes, because if you're successful you should lose the right to keep a respectable percentage of that income. 75% is too much regardless of what's being taxed.[/QUOTE]
You don't think 1 million+ euros/year is respectable?
[QUOTE=Awesomecaek;43346225]Smurfy I would expect better from you to kinda mention on what exactly is the 75% tax rate taxing.
You don't get 75% of your income taken away. If you make a [B]million fucking euro[/B] per year ([B]31 fucking times more than any average Frenchman[/B]), they take that million and tax it at the same rate they would tax it if it was 900k euro a year, and then take what's above million and tax that surplus past million by 75%. The bottom line is that if you were FUCKING LOADED before, you will be FUCKING LOADED afterwards, anyway.[/QUOTE]
Updated OP with more technical details. It seems like it doesn't work how you describe it any more though
[QUOTE=bravehat;43346252]So folk who can barely afford to live should take the brunt of the taxes as opposed to people who can actually afford to pay the taxes?
Fucking.
Genius.[/QUOTE]
Why not just have a flat rate?
[QUOTE=Skarr;43346272]It doesn't have to be one extreme or the either, you know.[/QUOTE]
75% really isn't actually that extreme, though. It's a bracket, and America used to have a tax rate like that back in the 50's.
[QUOTE=Ericson666;43346280]You don't think 1 million+ euros/year is respectable?[/QUOTE]
I'm saying that only getting 25% of that income isn't respectable. I'm not trying to say that the rich shouldn't be taxed higher, I'm just saying that 75% is too much.
[QUOTE=Erebus.;43346286]Why not just have a flat rate?[/QUOTE]
Because that is the one that screws over the poor and benefits the rich the most? I don't think people in this thread know how tax brackets work...
[QUOTE=Skarr;43346272]It doesn't have to be one extreme or the either, you know.[/QUOTE]
It's completely retarded to pretend for a second that CEO's and people who rake in millions per day should be taxed the same as people who might be making minimum wage or some shit like 25 grand a year.
Don't fall for that bullshit, a CEO who is taxed a high amount will still be making a ridiculous amount of cash at the end of the day.
[QUOTE=bravehat;43346313]It's completely retarded to pretend for a second that CEO's and people who rake in millions per day should be taxed the same as people who might be making minimum wage or some shit like 25 grand a year.
Don't fall for that bullshit, a CEO who is taxed a high amount will still be making a ridiculous amount of cash at the end of the day.[/QUOTE]
That isn't what I'm implying at all.
[QUOTE=SigmaLambda;43346295]America used to have a tax rate like that back in the 50's.[/QUOTE]
This isn't an argument.
[QUOTE=Skarr;43346310]I'm saying that only getting 25% of that income isn't respectable. I'm not trying to say that the rich shouldn't be taxed higher, I'm just saying that 75% is too much.[/QUOTE]
You're not only getting 25% percent of that income though; It's a bracket. Anything past 1,000,000 is taxed at 75% but the 1,000,000 itself is taxed at the lower bracket.
France is wealthy enough, the problem is the wealth is not distributed optimally
[QUOTE=SigmaLambda;43346330]You're not only getting 25% percent of that income though; It's a bracket. Anything past 1,000,000 is taxed at 75% but the 1,000,000 itself is taxed at the lower bracket.[/QUOTE]
Yes, I am aware which income is being taxed which amount. I'm literally only saying that 75% is too much for any amount. That is it. That is the only point I'm making.
[QUOTE=Antlerp;43346340]France is wealthy enough, the problem is the wealth is not distributed optimally[/QUOTE]
How do you define optimal wealth distribution?
[QUOTE=SPESSMEHREN;43346241]Taxing high earners more is still unfair because it punishes people for being successful though.[/QUOTE]
No, it's not a punishment. It's a way of keeping the society going.
Stop seeing taxes as a fucking punishment. Get rid of the idea of OH NO THEY ARE TAKING MY GOODIES, WHAT HAVE I DONE WRONG? I GOT THEM ALL FAIRLY AND THROUGH HARD WORK. It's something you should understand to be wrong when you leave PRESCHOOL.
The state guarantees you services, security, relative safety and in 95% of the cases, if it wasn't for the state, the country, the society as it's right now, none of these people would achieve the success they have achieved. The state has to take money but it can't take evenly from all, nor it has any reason to. The amount of money you make is enormously arbitrary from moral standpoint. There are people who work three hours a week and make more in a month than some people make through their ENTIRE LIFETIME of [B]hard[/B] work. The amounts of money people make are NOT fair, it's asinine to expect that the taxes to pretend that the harder you try the more money you have, because it's just not true.
Yeah... give the government all the money, cuz people don't deserve the capital to invest in shit, or spend on goods and services. What does the government of france do with these billions of dollars that people in the free market wouldn't do?
[QUOTE=Skarr;43346261]Yes, because if you're successful you should lose the right to keep a respectable percentage of that income. 75% is too much regardless of what's being taxed.[/QUOTE]
Based on what metric, moral standard, anything, are you basing that statement?
[QUOTE=StickyWicket;43346365]Yeah... give the government all the money, cuz people don't deserve the capital to invest in shit, or spend on goods and services.[/QUOTE]
Oh yeah because I'm sure a million+ a year isn't enough to invest or spend in shit.
[QUOTE=StickyWicket;43346365]Yeah... give the government all the money, cuz people don't deserve the capital to invest in shit, or spend on goods and services.[/QUOTE]
You have to get on with the times. The free market has been discredited: Markets can fail, but governments are more resilient because they are backed by the people. Therefore, governments can provide goods and services more efficiently.
[QUOTE=Skarr;43346343]Yes, I am aware which income is being taxed which amount. I'm literally only saying that 75% is too much for any amount. That is it. That is the only point I'm making.[/QUOTE]
Is this "too much" statement based on any sort of economic knowledge? Do you have any reason to think this will hurt the French economy (though most of those arguments libertarians like to make about "job creators" packing up and leaving are bullshit)?
Or is this just a sympathetic response because you think you, too, might be a rich french man some day and you feel the pain of the rich? (They certainly don't feel your pain.)
[QUOTE=StickyWicket;43346365]Yeah... give the government all the money, cuz people don't deserve the capital to invest in shit, or spend on goods and services. What does the government of france do with these billions of dollars that people in the free market wouldn't do?[/QUOTE]
Trickle down economics don't work.
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