197 replies to this topic

[Render]

French 75% income tax struck down by constitutional council

Quote

France's constitutional council has struck down a top income tax rate of 75% introduced by Socialist President Francois Hollande.
Raising taxes for those earning more than 1m euros (£817,400) has been a flagship policy for Mr Hollande.
The policy angered France's business community and prompted some wealthy citizens to say they would emigrate.
Mr Hollande's government said it would rework the tax, due to take effect in 2013, to meet the council's complaints.

http://www.bbc.co.uk...europe-20864114

[stevewinn]

well, if they eventually do pass this tax. it might benefit us,

London Mayor says 'bonjour' to banks fleeing French tax Britain should welcome with "open arms" French banks that want to move business from Paris to London to escape France's new financial transaction tax, according to the Mayor of London.


Boris Johnson and David Cameron today urged French bankers to quit Paris and move to London in a dramatic escalation of a row with the French president.
The Mayor joined the Prime Minister in calling for traders to escape Nicolas Sarkozy's plans for a financial tax by setting up business in the Square Mile.
Mr Johnson said: "Bienvenue à Londres. This is the global capital of finance. It's on your doorstep and if your own president does not want the jobs, the opportunities and the economic growth that you generate, we do." Hours earlier Mr Cameron condemned Mr Sarkozy's plans for a new financial transaction levy. Speaking at an EU summit in Brussels, he stressed that the new tax could cost the EU half a million jobs. He added: "If France goes for a financial transactions tax, then the door will be open and we will be able to welcome many French banks to the United Kingdom.

http://www.standard....ks-7313292.html

[Yamato]

Merc14, on 08 August 2012 - 03:53 PM, said:

Almost half the people in the US do not pay federal income tax.  That is insane.  What is even more insane is that they have the same vote as a person paying taxes.  How is that fair and of course, the freeloaders will then vote for a party that guarantees they will never have to pay taxes.  The end result is laughably obvious.

Income taxes need to be done away with and a consumption tax, like the fair tax, installed instead.  Everybody pays.  If that isn't possible then I wouldn't allow the freeloaders tio vote.  F-em, you need to have skin in the game to play. Want a vote, get off your overweight fodstamp consuming, welfare lounging ass and work.

Invalids and elderly excepted of course.

Merc14, on 08 August 2012 - 03:53 PM, said:

Almost half the people in the US do not pay federal income tax.  That is insane.  What is even more insane is that they have the same vote as a person paying taxes.  How is that fair and of course, the freeloaders will then vote for a party that guarantees they will never have to pay taxes.  The end result is laughably obvious.

Income taxes need to be done away with and a consumption tax, like the fair tax, installed instead.  Everybody pays.  If that isn't possible then I wouldn't allow the freeloaders tio vote.  F-em, you need to have skin in the game to play. Want a vote, get off your overweight fodstamp consuming, welfare lounging ass and work.

Invalids and elderly excepted of course.

Everybody already pays a federal employment tax that's fair and not based on income, which seems to be just what you're asking for.  It's called FICA.   You seem to be asking for more of the same, except this time naming it explicitly to income, even though it's "fair" and thus independent of income.   Having this tax, and that tax, and the other tax, might justify collecting it at least rhetorically; but it's all revenue, and it all gets spent as soon as it's collected.   Dollars are fungible.   So how is asking for more revenue a path to leaner government?  

If half our workers don't pay income taxes, we're half way there.