French election: Hollande wants 75% tax on top earners - Polidicks

[QUOTE=Djessey;34908347]So lets assume this guy worked his entire life extremely hard to get where he is now, And earns 1 million. With taxes off he only gets 250. All that while some other guy earns 300K and does jack shit all day. How is that fair?[/QUOTE] Wait, i can do jack shit and eark 300k? Oh lawd all that time in school sure was wasted time, i can just go out and get a job that pays 300k each year without any effort! Hooray!

[QUOTE=I-the-gamer;34908958]Wait, i can do jack shit and eark 300k? Oh lawd all that time in school sure was wasted time, i can just go out and get a job that pays 300k each year without any effort! Hooray![/QUOTE]Actually you can, but you need to be at the right time at the right place.

[QUOTE=Ganerumo;34908869]You can still treat your family as well as you'd like with 250k a year (aka 20 000 a month roughly), investing is still widely possible, same for charity. Hell, it's not like those 750k are going to the bin, they are pretty much going to help other people out as it's tax paying, it's giving away money for the greater good vs giving away money for the greater good. Tax paying is already funding stuff like help for the homeless and the building of more proper housing anyway. Well yeah, and the more income you have, the more you should contribute as the richer you are the less it's going to affect you.[/QUOTE] I guess here's where I disagree with you. First off, it's worth remembering that a 30-40% tax on $1million is a hell of a lot more money than it is on $100,000. If we're looking at the actual amounts, it means that a person earning $1,000,000 a year is paying taxes equivalent to 10 people earning $100k, so they're already helping to pay their fair share. And look, what I have a problem with the is the attitude that just because $250k is a lot of money, it justifies the government taking away [B]75%[/B] of that person's income. They earned that goddamn money and you're basically saying that no, they don't deserve it.

[QUOTE=Kaios;34907599]I do agree on high taxes for the wealthy, but 75% seems a bit too much, maybe something like 60% would be better[/QUOTE] Yeah. Because who could survive with 250000€ yearly income.

This seems fishy to me. Sure 75% on the absolute wealthiest could be good, but what if he's elected and creates all sorts of loopholes so nothing at all will change?

[QUOTE=Sunday_Roast;34909332]Yeah. Because who could survive with 250000€ yearly income.[/QUOTE] That's not what we're talking about. Everyone bitches about the rich "paying their fair share," but nobody seems to agree on what that is. In this particular case, apparently the "fair share" is to have the vast majority of their income taken completely away from them. Even if that still leaves them with $250k, sure as hell doesn't sound fair to me.

[QUOTE=IForgotPassword;34907983]75% is way too much. Imagine working your whole life extremely hard to become successful just to have it all taken away by the government.[/QUOTE] yeah how are those poor rich guys going to live with only 250,000€ in income

[QUOTE=sami-pso;34909335]This seems fishy to me. Sure 75% on the absolute wealthiest could be good, but what if he's elected and creates all sorts of loopholes so nothing at all will change?[/QUOTE] If anyone has created a shitload of loopholes (including a relatively infamous one, known as the "fiscal shield") over the past five years, it's Sarkozy. Socialists have always been against these, and it's why I wouldn't be surprised if they won the upcoming election. (I'm probably gonna vote for them myself)

[QUOTE=Unsmart;34907327]So all corporations will move to a new tax heaven. Why would they stay in France, when they get better tax elsewhere[/QUOTE] Because you can't really run a service within France from somewhere out of France (with exceptions of like, helplines). And as you should know from elementary economics, developed economies rely on services. Sure, nobody is going to produce machinery and electronics, but that has already moved to China, ages ago, either way. [editline]28th February 2012[/editline] [QUOTE=IForgotPassword;34907983]75% is way too much. Imagine working your whole life extremely hard to become successful just to have it all taken away by the government.[/QUOTE] I can really imagine that living on 250,000 euros yearly must be HELL. I imagine these people will soon fill welfare camps and such.

I do not know the specifics of how much money this will raise, or what it will be used for, BUT just on principle, I would never tax anyone for more than half their earnings. 50 would be my maximum income tax.

[QUOTE=IForgotPassword;34907983]75% is way too much. Imagine working your whole life extremely hard to become successful just to have it all taken away by the government.[/QUOTE] Imaging working your whole life extremely hard and never becoming successful because you work for an asshat millionaire who only pays you minimum wage.

Wow what the hell. You have dreams and ambitions of being rich and successful, you grow up and own a big company and then 3/4 of your income is legally robbed. 75% is far, far too much.

[QUOTE=Coridan;34908246]Exactly. And the top bracket that this guy is talking about is people who earn a million euros or more which leaves you with at least 250,000. How greedy can you be to call that absurd?[/QUOTE] That's not how the tax bracket works exactly. It's for every dollar over the $1.3 million bracket (or whatever it is in euros), you get taxed 75%. So you're basically guaranteed to have more than $1.3 million in income per year; it just becomes more difficult to have more than that.

Has any of you even thought how taxes are paid? They'll pay the amount the bracket requires, respectively for each bracket. More realistically, you'd be paying around 400k out of your one million euro when you reach the 1 million bracket, where you will pay 75% tax for income that goes [U]over the one million[/U]. It's not 75% out of the million, sheesh.

[QUOTE=Fippe;34910348]Has any of you even thought how taxes are paid? They'll pay the amount the bracket requires, respectively for each bracket. More realistically, you'd be paying around 400k out of your one million euro when you reach the 1 million bracket, where you will pay 75% tax for income that goes [U]over the one million[/U]. It's not 75% out of the million, sheesh.[/QUOTE] I'm honestly surprised it took this long for someone to say how tax brackets worked. I read the whole first page and people kept saying 250,000 over and over.

[QUOTE=Fippe;34910348]Has any of you even thought how taxes are paid? They'll pay the amount the bracket requires, respectively for each bracket. More realistically, you'd be paying around 400k out of your one million euro when you reach the 1 million bracket, where you will pay 75% tax for income that goes [U]over the one million[/U]. It's not 75% out of the million, sheesh.[/QUOTE] Well, today I learned... Looks like I might have gotten caught up in things.

Stay classy socialism. The only other political system besides communism where chavs, bums and CEOs of large corporations make the same amount of money. Because you know, actually being rewarded for that 8 years of college and the level of effort you put forth IS A CRIME AGAINST HUMANITY because you won't share your wealth with people who don't deserve it. I also find it absolutely hilarious that liberal politicians think the only way to fix the disastrous economy is to tax the rich more and spend more in government. It really shows how they excel at subjects like mathematics :downs:. There is literally no incentive to put forth effort in a socialist system since you'll be able to live decently whether you smoke weed every day or bust your ass in some office.

Socialism has never been about paying people exactly the same amount of money. It's been about closing the income gap. There still is a gap, but it's not as huge as it is in the US where you have homeless people who don't have a penny to their name and rich bastards hoarding billions of dollars. [editline]28th February 2012[/editline] And you obviously don't know anything about modern economics. Government spending does benefit the economy. [editline]28th February 2012[/editline] And why are people so obsessed with hard work. I'm a lazy bastard. If I can enjoy my life without working at a factory for 15 hours a day, that'd be great.

Is this in terms of tax brackets? I don't know how it works in Holland, but here you pay a certain tax amount for different blocks of income. Where you may pay %15 on every dollar from $0 to $100,000, you'd pay 25% on every dollar from $100,001 to $200,000. In that case, 75% is perfectly reasonable. It's not affecting all the money below a million.

[QUOTE=JohnnyMo1;34910499]Is this in terms of tax brackets? I don't know how it works in Holland, but here you pay a certain tax amount for different blocks of income. Where you may pay %15 on every dollar from $0 to $100,000, you'd pay 25% on every dollar from $100,001 to $200,000. In that case, 75% is perfectly reasonable. It's not affecting all the money below a million.[/QUOTE] This in France. The candidates name is Hollande :v:.

[QUOTE=Sobotnik;34908197]If you earn 6 figure sums and pay 75% of it, you can still very easily live off the other 25%. Especially if you make say 600,000 and pay 450,000 for example. You still have 150,000 which is more than enough money to live on for a year.[/QUOTE] That is not how taxes work. They would tax every dollar after a certain amount 75%, not your entire income. It is also pretty scary to me how you think it would be okay to take 75% of somebody's entire income, regardless of class.

[QUOTE=PvtCupcakes;34910411]Socialism has never been about paying people exactly the same amount of money. It's been about closing the income gap.[/QUOTE] It's EXACTLY the same as paying everyone the same amount of money, that's the purpose of closing the income gap, to keep everyone in the middle, and it's a horribly flawed system. [QUOTE=PvtCupcakes;34910411]There still is a gap, but it's not as huge as it is in the US where you have homeless people who don't have a penny to their name and rich bastards hoarding billions of dollars.[/QUOTE] Oh no, that guy is rich and is automatically an evil hoarding bastard for not sharing his wealth with everyone else. The thing is [I]most[/I] rich people worked their asses off for a large part of their lives, or got a REALLY lucky break (like Chris Rock for example) to make those millions/billions of dollars. Calling a rich person evil is just ignorant. A large portion of bums on the street have mental illness that prevent them from being productive members of society, or are people that refuse to put forth effort to advance themselves. It's absolutely ridiculous to force someone who spent most of their working life to give their money to people like that with the way welfare currently works is stupid and horribly inefficient. I've seen both sides of welfare since my mom has worked in the government for the welfare system and I've known people on welfare, its just ridiculous. There is as little effort as possible put in to try and rehabilitate people off the streets while giving them money, and there are no strict regulations on controlling the flow of money to the welfaree, they could be buying crack and nobody would care. [QUOTE=PvtCupcakes;34910411]And you obviously don't know anything about modern economics. Government spending does benefit the economy.[/QUOTE] Oh no, I'm automatically an idiot for thinking socialism is a ridiculous system and that people should be rewarded for their work. We can all see how well government spending is helping the American economy. The fact of the matter is that the government of the United states has no money TO SPEND. The last time someone checked, Congress was borrowing 188 million dollars [U]per hour[/U], after they sucked the treasury and Social Security dry. The wars in Iraq and Afghanistan sucked up trillions of dollars that otherwise would have gone to funding the states, which are now fending for themselves and cutting jobs and education. Then we have that huge monstrous piece of legislation called "Obamacare" which thoroughly fucked over healthcare and is expected to cost about 1.5 trillion dollars when fully implemented. We also had two years of reverse income tax and "cash for clunkers" that were flawed and unregulated, and cost another 500bn. Government spending is making things worse, not better.

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[QUOTE=bohb;34910612]A large portion of bums on the street have mental illness that prevent them from being productive members of society, or are people that refuse to put forth effort to advance themselves.[/QUOTE] News flash: just because someone doesn't have a job doesn't mean that's because they don't put forth effort. In Paris, there are people with DOCTORATES (9 years of post-grad studies) who are jobless and homeless.

[QUOTE=Fippe;34910348]Has any of you even thought how taxes are paid? They'll pay the amount the bracket requires, respectively for each bracket. More realistically, you'd be paying around 400k out of your one million euro when you reach the 1 million bracket, where you will pay 75% tax for income that goes [U]over the one million[/U]. It's not 75% out of the million, sheesh.[/QUOTE] Ah it makes much more sense now. So let's say I make 1,25 million euro a year. I pay, let's say 30% for my 1 million euro, then for the remaining 250,000 euro I pay a 75% tax on it. Right?

[QUOTE=Funcoot;34910604]That is not how taxes work. They would tax every dollar after a certain amount 75%, not your entire income. It is also pretty scary to me how you think it would be okay to take 75% of somebody's entire income, regardless of class.[/QUOTE] I think it's wrong when there's a situation where people are allowed to make 6 or 7 figure salaries when others can barely subside.

A few economic analysts over here confirmed it, it's indeed [B]only the part over €1M that is going to be taxed at 75%[/B], not everything.

[QUOTE=IForgotPassword;34907983]75% is way too much. Imagine working your whole life extremely hard to become successful just to have it all taken away by the government.[/QUOTE] Kinda like all the low income people do now you mean? apart from they aren't lucky enough to become successful but still get raped in the ass just as much.

[QUOTE=MaxOfS2D;34910722]News flash: just because someone doesn't have a job doesn't mean that's because they don't put forth effort. In Paris, there are people with DOCTORATES (9 years of post-grad studies) who are jobless and homeless.[/QUOTE] Note where I said "large portion". There are a minority of people in the welfare system that actually try and move back up, but those are few and far between.

[QUOTE=MaxOfS2D;34910851]A few economic analysts over here confirmed it, it's indeed [B]only the part over €1M that is going to be taxed at 75%[/B], not everything.[/QUOTE] I support the shit out of this then No one in this thread is going to read this though and we're going to have a 10 page thread debating about the wrong thing