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post #1 of 11 (permalink) Old 09-28-2012, 08:01 PM Thread Starter
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This is nuts

People making 1 million Euros ($1.3m) or higher in France will now get taxed 75%.

Quote:
France has unveiled its budget for 2013, avoiding big austerity spending cuts in favour of higher taxes on the wealthy and big businesses.
  • A new 75% tax on the richest earning more than 1 million euros
  • A 45% income tax rate on incomes over 150,000 euros a year
  • A freeze in government spending, excluding debt repayments and pensions
  • The elimination of a ceiling on "l'impot de solidarite sur la fortune", or wealth taxes, so that assets of more than 1.3m euros will be taxed at 1.5%
  • The reduction of tax exemptions for loan payments by large corporations
  • Capital gains and dividends will now be subject to the income tax regim
http://www.bbc.co.uk/news/world-europe-19754016

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post #2 of 11 (permalink) Old 09-28-2012, 08:33 PM
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when obummer gets reelected he will implement that over here too. Eventually, everybody will pay 75% tax. Excluding the welfare leeches of course.
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post #3 of 11 (permalink) Old 09-28-2012, 08:43 PM
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Quote:
Originally Posted by tcmalker View Post
when obummer gets reelected he will implement that over here too. Eventually, everybody will pay 75% tax. Excluding the welfare leeches of course.
Yeah because if there is one thing highly motivated successful black people adore it is the welfare class. Oh wait.
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post #4 of 11 (permalink) Old 09-28-2012, 08:44 PM
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We seem to be heading in that direction as well .

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post #5 of 11 (permalink) Old 09-28-2012, 09:17 PM
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This was Will Smith's response to this exact thing, quite funny:
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post #6 of 11 (permalink) Old 09-28-2012, 10:02 PM
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We've already been there. in the 1950-60's the maximum tax rate was well above 75%. And the economy grew then.

Of course, that's only 75% on the amount OVER 1.5M Euros (~2M USD) in income.

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post #7 of 11 (permalink) Old 09-28-2012, 10:20 PM
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Quote:
Originally Posted by beac83 View Post
We've already been there. in the 1950-60's the maximum tax rate was well above 75%. And the economy grew then.

Of course, that's only 75% on the amount OVER 1.5M Euros (~2M USD) in income.
Top tax rate back then was over 90%. Obviously the entire country was overtaken by socialist commie America hating Hitlers back then.
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post #8 of 11 (permalink) Old 09-29-2012, 03:24 AM
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Okay 75% is waaay too fucking high... I could see some of those people in France finding a way around it. But to be honest, if I was in that situation I would find every way I could to pay as little to the government as possible so I can't say I blame our current multi-millionaires for paying (what the liberal news channels call) a little amount of taxes. I would be comfortable with paying a slightly higher percentage than the average based on my income, if I was in that income bracket, but 75% - no fucking way.
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post #9 of 11 (permalink) Old 09-30-2012, 02:33 AM
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Quote:
Originally Posted by Gone In 3 View Post
People making 1 million Euros ($1.3m) or higher in France will now get taxed 75%.



http://www.bbc.co.uk/news/world-europe-19754016

Isn't this what you occupy wallstreet, and ron paul cultists want? For the rich to pay


Wait till you pay more in taxes because you make more then I do when I work at Mcdonalds bro.
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post #10 of 11 (permalink) Old 09-30-2012, 06:47 AM
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The taxes may have been high but regulation was almost non-existent.

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post #11 of 11 (permalink) Old 09-30-2012, 07:07 PM
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Quote:
Originally Posted by beac83 View Post
We've already been there. in the 1950-60's the maximum tax rate was well above 75%. And the economy grew then.

Of course, that's only 75% on the amount OVER 1.5M Euros (~2M USD) in income.
Quote:
Originally Posted by iamnotgreg View Post
Top tax rate back then was over 90%. Obviously the entire country was overtaken by socialist commie America hating Hitlers back then.
But there were also more deductions/shelters then, especially related to losses.

Additionally, in the 1950s, there was not as much competiton with overseas industry (since much of overseas was rebuilding from WW2). We did not have a trade deficit until the early 1970s, as I recall.

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