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Thread: French court rejects 75 percent millionaires' tax

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by CalGun View Post
    I'm glad I come here. You'd never know about this from our lame stream media. Imagine the fear on our beloved socialist faces around if taxation is required to be fair and equal?
    LOL fair and equal in the US? Get real.. it is so lopsided towards the rich that it is comical. If it was fair and equal in the French way of things (and most of Europe), Romney would actually be paying 40+% instead of only 14%.
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    Re: French court rejects 75 percent millionaires' tax

    Wow really? And what percentage of our government burden does the lower 1/2 of America pay?


    Quote Originally Posted by PeteEU View Post
    LOL fair and equal in the US? Get real.. it is so lopsided towards the rich that it is comical. If it was fair and equal in the French way of things (and most of Europe), Romney would actually be paying 40+% instead of only 14%.

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by CalGun View Post
    Wow really? And what percentage of our government burden does the lower 1/2 of America pay?
    Irrelevant. People should bear the burden relative to their income.. and in the US, the rich have a very small burden vs the middle class. I dont care that someone pays millions in taxes or that the rich pay a large portion of the over all taxes... they also earn most of the income for **** sake.

    In a progressive tax system the more you earn the more you pay per last dollar earned. That is fair and the only sensible way of doing things if we want to fund all the things we want the government to do. Is it redistribution of wealth? Yes, but that is the point.. the bigger the income inequality the more social unrest there will be and at some point there will be a revolt.

    But in the US, it is quite the opposite.. the rich pay relatively much less of their income in taxes in % than the middle class.. and that is a major problem. I know the right love to find excuses and deflect away from facts, but when the tax rate of the 3rd riches man in the world is much much lower than his secretary... that is a freaking problem. Last time there was such a system it ended up with beheadings of the political and economic leaders in the capital's main square.
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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by a351 View Post
    That's the only difference that catches your eye? How about the 36% spread between the two proposed rates? How did that manage to slip by?
    Your strive to have equal outcome will mean that no one attains wealth.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by j-mac View Post
    Sound familiar folks? It should....In fact the only difference I can see between the new French President and ours, is that at least the French President openly declares that he is a socialist....
    Fine by me. A weak France is good for the world.

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by j-mac View Post
    Your strive to have equal outcome will mean that no one attains wealth.
    That's strange. Can't recall a single instance in which I voiced support for such a notion. Just pointed out the glaring, unmistakable flaws in directly comparing Hollande and his policies to Obama and his own.

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by PeteEU View Post
    Irrelevant. People should bear the burden relative to their income.. and in the US, the rich have a very small burden vs the middle class. I dont care that someone pays millions in taxes or that the rich pay a large portion of the over all taxes... they also earn most of the income for **** sake.
    If the incentive is to keep more of your monetary assets, as well as more of what you earn, in your view then what does this sort of thinking do to that?

    In a progressive tax system the more you earn the more you pay per last dollar earned. That is fair and the only sensible way of doing things if we want to fund all the things we want the government to do. Is it redistribution of wealth? Yes, but that is the point.. the bigger the income inequality the more social unrest there will be and at some point there will be a revolt.
    So think about what you are saying here...If I earn more, then I should pay a higher percentage of what I earn, all because you either don't have the means, education, or drive to make more? That's silly.

    But in the US, it is quite the opposite.. the rich pay relatively much less of their income in taxes in % than the middle class.. and that is a major problem. I know the right love to find excuses and deflect away from facts, but when the tax rate of the 3rd riches man in the world is much much lower than his secretary... that is a freaking problem. Last time there was such a system it ended up with beheadings of the political and economic leaders in the capital's main square.
    the analogy between Buffet and his secretary is a proven falsehood, and as such dismissed.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by j-mac View Post
    Sound familiar folks? It should....In fact the only difference I can see between the new French President and ours, is that at least the French President openly declares that he is a socialist....
    i see another significant difference : 75 percent is significantly higher than 39.6 percent. also, the French have completely socialized health care.

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by j-mac View Post
    If the incentive is to keep more of your monetary assets, as well as more of what you earn, in your view then what does this sort of thinking do to that?
    Hey I understand where you are coming from and in principle I agree. The more money kept in peoples hands the better.. but I am also a pragmatic.. Society has agreed that certain thing we all join in to pay for.. that has to be funded and that is via taxes. The more funding need the more taxes are needed to be collected.. it is a fact of life.

    But let me put it this way..

    Person nr. 1 earns 50k a year and pays 50% in tax .. so has 25k to live off.
    Person nr. 2 earns 1 million a year and pays 15% in tax and has 850k to live off..

    Is that fair at all? Of course not. Not to mention that person nr. 1 is the huge massive majority of the population...

    So that is why in the progressive tax system, you say.. person 1 will only pay 25% in taxes and person 2 will pay 40%. That means that person 1 has far more to live off and person 2 might have less to live off, but it still is much much more than person 1 and more than enough.

    So think about what you are saying here...If I earn more, then I should pay a higher percentage of what I earn, all because you either don't have the means, education, or drive to make more? That's silly.
    Dont you guys learn basic tax policy in school over there? You pay a higher percentage on the last dollar earned not on the whole income. That means you pay the same tax rates as everyone one else in the middle class for the first say 250k, but for all the money you earn over the 250k you pay a higher tax rate on that only. Hence the more you earn the higher the tax rate will be on the last part of the income, not all of it. That is how a progressive tax system works and it is by far the fairest and best way of doing things.

    the analogy between Buffet and his secretary is a proven falsehood, and as such dismissed.
    Maybe in right wing media and blogs, but in the real world it is not false. That your last presidential candidate refused to release his tax returns and those he did release showed a tax rate of only 13%... shows that Buffet was right.
    PeteEU

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by PeteEU View Post
    Dont you guys learn basic tax policy in school over there? You pay a higher percentage on the last dollar earned not on the whole income. That means you pay the same tax rates as everyone one else in the middle class for the first say 250k, but for all the money you earn over the 250k you pay a higher tax rate on that only. Hence the more you earn the higher the tax rate will be on the last part of the income, not all of it. That is how a progressive tax system works and it is by far the fairest and best way of doing things.
    Of course, there is actually nothing fair about a system that takes more from one person than another.


    Maybe in right wing media and blogs, but in the real world it is not false. That your last presidential candidate refused to release his tax returns and those he did release showed a tax rate of only 13%... shows that Buffet was right.
    14%, not 13%.

    Regardless, his tax rate was on capital gains.

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