Miracle Posted July 13 Posted July 13 (edited) 46 minutes ago, Eat The Acid said: All professions that may be impacted and may move from France, Medical researcher Neurosurgeon Orthopedic surgeon Engineers Pharma development Entrepreneurship Sports players Actors Popular art Music Famous people in general that ar France will become a low rated economy with no innovation, creation, or leading professions. Ain't nobody staying there if they can move to Ireland, Germany, Spain and allocate that as their country of taxation, it's simple. Just live outside of France 6 months and 1 day. Extremism at its best! It'll be cute for the first year or two though while they plummet into insurmountable debt, While I do think 90% tax or more is what ideally should happen I kinda agree with you except for the last paragraph. The best idea is for France to nationalise a lot of the services you mentioned and therefore not depend on the free market to provide their people services. Also there could be exemptions from very high taxing to essential businesses in this transition. Also, it's not gonna happen as they need either Macron or 289 PMs to pass that tax change, which isn't going to happen Again, tax havens already exist and very rich people still pay their taxes in France. There's other advantages to having your business there, both for customers and for workers. Edited July 13 by Miracle
Taylena Posted July 13 Posted July 13 1 hour ago, Eat The Acid said: Good luck with that economy you speak of I'm centre left so I'm all about taxing the rich but 90% tax on anything over 400,000. What's the incentive for innovation or high achievers. Also taking a huge chunk of the population and placing them on state pensions and out of the work force, while raising minimum age will destroy small business and economy. This is all irrational populism under the guise of socialism. It's a crazy manifesto for a government to achieve in a term. Theyd need decades to phase these in while carefully balancing the budgets, supporting small business, increasing incentive for innovation. Investors will pull out of France, corporations will run a mile. There's ways and means to become more socialised and decrease the gap between wealthy and poverty. This crazy ass plan is not IT, darling! Do you understand how a progressive tax rate works? It doesn't mean that wealthy individuals earning €400k will be taxed 90% on their entire income. Instead, they will be taxed at 90% only on the income exceeding €400k, with the income below $400k being taxed at lower rates according to the respective tax brackets. 1
Eat The Acid Posted July 13 Posted July 13 4 hours ago, Taylena said: Do you understand how a progressive tax rate works? It doesn't mean that wealthy individuals earning €400k will be taxed 90% on their entire income. Instead, they will be taxed at 90% only on the income exceeding €400k, with the income below $400k being taxed at lower rates according to the respective tax brackets. Sis I know that. So what's the incentive to earn more or progress to positions that exceed 400,000? Lots of positions that encourage innovation, arts, science etc. go above 400,000 a year. 400,000 isn't a lot of money these days.
Virgos Groove Posted July 13 Posted July 13 6 hours ago, Eat The Acid said: Good luck with that economy you speak of I'm centre left so I'm all about taxing the rich but 90% tax on anything over 400,000. What's the incentive for innovation or high achievers. Also taking a huge chunk of the population and placing them on state pensions and out of the work force, while raising minimum age will destroy small business and economy. This is all irrational populism under the guise of socialism. It's a crazy manifesto for a government to achieve in a term. Theyd need decades to phase these in while carefully balancing the budgets, supporting small business, increasing incentive for innovation. Investors will pull out of France, corporations will run a mile. There's ways and means to become more socialised and decrease the gap between wealthy and poverty. This crazy ass plan is not IT, darling! The idea that lowering tax rates encourages "innovation" when most technological breakthroughs are done by governments (or with state money) is SO funny. And a 90% tax rate is by no means radical. It was standard procedure in the Western world (yes, even in the ultra-capitalist US) during the Trente Glorieuses. How can you be "centre-left" and be against something that was and still is a tenet of social democratic ideology? Reagan and Thatcher really did destroy the Western left's imagination. 2
Communion Posted July 13 Posted July 13 6 hours ago, Eat The Acid said: What's the incentive for innovation or high achievers. How many French people make over €400k a year?
Taylena Posted July 13 Posted July 13 1 hour ago, Eat The Acid said: Sis I know that. So what's the incentive to earn more or progress to positions that exceed 400,000? Lots of positions that encourage innovation, arts, science etc. go above 400,000 a year. 400,000 isn't a lot of money these days. I'm sorry, but you seem to be out of touch with the reality of wages in France. To give you an idea, €100k/y gross salary, will put you in the top 1% earners in the country. I couldn't find data on higher salaries, but it's clear that very few people (CEOs, bank managers, etc..) in France fall into that €400k range. This amount may not seem a lot compared to American wages but it is for an European/French reality of lower wages. And let's not pretend that those falling in the top tax bracket won't find ways to pay income taxes in another European country that is much more tax-friendly. 1 1
Dialamba Posted July 13 Posted July 13 1 hour ago, Eat The Acid said: Sis I know that. So what's the incentive to earn more or progress to positions that exceed 400,000? Lots of positions that encourage innovation, arts, science etc. go above 400,000 a year. 400,000 isn't a lot of money these days. This is not the US, a doctor does not earn 400k a year And yes tax the rich 1
Recommended Posts