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FRANCE PLANS 75% TAX RATE ON RICH!
Dino
Registered Lunatic
User ID: 98468
08-08-2012 09:01 AM

Posts: 2,131



Post: #1
shocked1 FRANCE PLANS 75% TAX RATE ON RICH!
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PARIS — 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.
Multimedia

Graphic
Wealthy French May Pay More

Photos by: Julien M. Hekimian/Getty Images; Eric Gaillard/Reuters; Yuri Kadobnov/Agence France-Presse — Getty Images
Some rich citizens have already left. In recent years, the actress and model Laetitia Casta, the chef Alain Ducasse and the singer and actor Johnny Hallyday all moved away to avoid high taxes.
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.

The lawyer’s counsel: Wait and see. For now, at least.

“We’re getting a lot of calls from high earners who are asking whether they should get out of France,” said Mr. Grandil, a partner at Altexis, which specializes in tax matters for corporations and the wealthy. “Even young, dynamic people pulling in 200,000 euros are wondering whether to remain in a country where making money is not considered a good thing.”

A chill is wafting over France’s business class as Mr. Hollande, the country’s first Socialist president since François Mitterrand in the 1980s, presses a manifesto of patriotism to “pay extra tax to get the country back on its feet again.” The 75 percent tax proposal, which Parliament plans to take up in September, is ostensibly aimed at bolstering French finances as Europe’s long-running debt crisis intensifies.

http://www.nytimes.com/2012/08/08/busine...l?_r=2&hpw

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SevenThunders
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User ID: 96345
08-08-2012 09:11 AM

Posts: 1,668



Post: #2
RE: FRANCE PLANS 75% TAX RATE ON RICH!
It's hilarious. The left never learn from history and certainly pay no attention to common sense or simple economics. That sort of tax hike will result in fewer revenues to the state.

Wealth will flee the country as it always does and economic activity will shrink and the total tax receipts will fall dramatically. When your brain cells are working properly, and you aren't a utopian marxist dreamer, you find ways to create incentives for the many to prosper and perhaps a few to even get rich.

Without the possibility of getting rich there would be no Apple, no Hewlett Packard, no Intel, no Google, no internet, no Ford, no Boeing etc. etc. Oh well France, it was nice knowing you.

The LORD thunders at the head of his army; his forces are beyond number,
and mighty is the army that obeys his command.
The day of the LORD is great; it is dreadful. Who can endure it?
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LoP Guest
lop guest
User ID: 113281
08-08-2012 09:23 AM

 



Post: #3
RE: FRANCE PLANS 75% TAX RATE ON RICH!
How about a guillotine tax!chuckle
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Chaos Pimp

User ID: 13922
08-08-2012 09:37 AM

Posts: 1,568



Post: #4
RE: FRANCE PLANS 75% TAX RATE ON RICH!
SevenThunders  Wrote: (08-08-2012 09:11 AM)
It's hilarious. The left never learn from history and certainly pay no attention to common sense or simple economics. That sort of tax hike will result in fewer revenues to the state.

Wealth will flee the country as it always does and economic activity will shrink and the total tax receipts will fall dramatically. When your brain cells are working properly, and you aren't a utopian marxist dreamer, you find ways to create incentives for the many to prosper and perhaps a few to even get rich.

Without the possibility of getting rich there would be no Apple, no Hewlett Packard, no Intel, no Google, no internet, no Ford, no Boeing etc. etc. Oh well France, it was nice knowing you.

They will probably move to some of the French islands in the Eastern Caribbean Sea.

http://www.youtube.com/watch?v=Hvds2AIiWLA

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entropy
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User ID: 113414
08-08-2012 09:39 AM

Posts: 28,926



Post: #5
RE: FRANCE PLANS 75% TAX RATE ON RICH!
Only 75%? The Eisenhower admin taxed them more in the US and nobody dared cry commie, that was before the plutocrats hijacked our elected gov though....

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LoP Guest
lop guest
User ID: 100719
08-08-2012 10:04 AM

 



Post: #6
RE: FRANCE PLANS 75% TAX RATE ON RICH!
Dino  Wrote: (08-08-2012 09:01 AM)
PARIS — 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.
Multimedia

Graphic
Wealthy French May Pay More

Photos by: Julien M. Hekimian/Getty Images; Eric Gaillard/Reuters; Yuri Kadobnov/Agence France-Presse — Getty Images
Some rich citizens have already left. In recent years, the actress and model Laetitia Casta, the chef Alain Ducasse and the singer and actor Johnny Hallyday all moved away to avoid high taxes.
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.

The lawyer’s counsel: Wait and see. For now, at least.

“We’re getting a lot of calls from high earners who are asking whether they should get out of France,” said Mr. Grandil, a partner at Altexis, which specializes in tax matters for corporations and the wealthy. “Even young, dynamic people pulling in 200,000 euros are wondering whether to remain in a country where making money is not considered a good thing.”

A chill is wafting over France’s business class as Mr. Hollande, the country’s first Socialist president since François Mitterrand in the 1980s, presses a manifesto of patriotism to “pay extra tax to get the country back on its feet again.” The 75 percent tax proposal, which Parliament plans to take up in September, is ostensibly aimed at bolstering French finances as Europe’s long-running debt crisis intensifies.

http://www.nytimes.com/2012/08/08/busine...l?_r=2&hpw

That should workout well.... Dumbass's
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SoSayWeAll
Banned
User ID: 53411
08-08-2012 10:56 AM

Posts: 7,254



Post: #7
RE: FRANCE PLANS 75% TAX RATE ON RICH!
encephaloid  Wrote: (08-08-2012 09:39 AM)
Only 75%? The Eisenhower admin taxed them more in the US and nobody dared cry commie, that was before the plutocrats hijacked our elected gov though....

Yup... Prior to Reagan, the top marginal tax rate in some case was as high as 90%.

Seems we did just fine in the 50's & 60's before the RICH shipped all the jobs overseas to make even MORE money.

Seems to me, the wealth of the NATION is more important the GREED of the RICH.

And NO, it's NOT the same thing.
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BJ
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User ID: 113427
08-08-2012 12:27 PM

 



Post: #8
RE: FRANCE PLANS 75% TAX RATE ON RICH!
The rich bailing out of their countries because of taxes may be like jumping out of the frying pan into the fire. How long will it be before their new country hikes the tax on their wealth? Nowhere to run then.
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BJ
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User ID: 113427
08-08-2012 12:39 PM

 



Post: #9
RE: FRANCE PLANS 75% TAX RATE ON RICH!
Furthermore:

Corporate tax accounted for 27.3% of federal revenue in 1955. In 2010, corporate tax accounted for only 8.9% [62] of federal revenue. Corporate taxes accounted for 4.3% of overall GDP in 1955, in 2010 they accounted for only 1.3% [62When tens of trillions of dollars deliberately flow to the top economic one-tenth of o].
<...>
When tens of trillions of dollars deliberately flow to the top economic one-tenth of one percent of the global population, while large percentages live in poverty, you have to conclude, in technical terms, that a Neo-Feudal-Fascist state is upon us. The rich have never been richer, while their paid off politicians make budget cuts for the poor and middle class, and cause the cost of basic necessities to skyrocket.

I would hope that if those uncaring rich want to abandon this or any other country in this economic climate because of tax hikes, that they be divested of all of their houses and lands. Let them take their ill-gotten bank balances and leave our shores.
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evo
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User ID: 108869
08-08-2012 12:42 PM

Posts: 4,686



Post: #10
RE: FRANCE PLANS 75% TAX RATE ON RICH!
Taxes remind me of this Chris Rock bit where he talks about not going backwards on lifestyle.

http://www.youtube.com/watch?v=lPesKyIhGZg

In the way that the lower taxes get, the less people want to go back. So much so that they kind of forget about past tax levels and treat current tax as if that's the level it's always been at, and to increase it is the same as coming into their homes and stealing it.

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(This post was last modified: 08-08-2012 12:44 PM by evo.) Quote this message in a reply
evilolive
Always Questioning ENFP!
User ID: 112275
08-08-2012 12:49 PM

Posts: 2,637



Post: #11
RE: FRANCE PLANS 75% TAX RATE ON RICH!
75%?!!?!?! Oooohh, these f**kers gonna be living so pooorrr how tragic Tissue
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LoP Guest
lop guest
User ID: 42015
08-08-2012 01:03 PM

 



Post: #12
RE: FRANCE PLANS 75% TAX RATE ON RICH!
In America the Republicans all fell in-line to defend the rich. They called the rich the "job creators" and fought off any new tax, protecting their riches. "Not one penny more" was their slogan. Without the ability to tax the rich, the city governments had to rob the kids piggy banks (saved school funds) to pay for city services.
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