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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 LowDown View Post
    Can we borrow those French judges? I may have to change my mind about our courts looking to foreign legal precedents for their decisions.

    So, the French have to be treated equally tax wise. A household with two wage earners that both earn a little less than a million would not pay the higher rate, but another household with one wage earner who earns just over a million would.

    Note the little jab from whoever wrote that story: "...the Council's so called wise men". I suspect that that so-called reporter hates, hates to see the rich get a break, all legal issues notwithstanding.
    That is exactly correct... (In the US) with these "progressive" tax rate ideas a person making 240k a year would take home more than the person making 300k...

    That is dangerous, if you're a CFO of a small company then what is the purpose to ask for a raise? what is the purpose to aspire to make big money?? For a raise to even be worth it one would have to jump from 250k to 400 at least to have a significant take home. In what universe will a business do that - especially after how the government rapes their business.

    Basically Marxists (in the United States as well) are closing the door on wealth and destroying the desire to become successful by creating an atmosphere where doing such would be moot. Why go to school for 10 years when you can just work at Burger King?

    The progressive/socialist philosophy makes no Goddamn sense.
    Last edited by Mr.Nick; 12-29-12 at 05:39 PM.

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    Re: French court rejects 75 percent millionaires' tax

    You said one thing right. "I don't care" and that part is clear. Why do leftist want to be called centrist? Wierd.


    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.

    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 CalGun View Post
    You said one thing right. "I don't care" and that part is clear. Why do leftist want to be called centrist? Wierd.
    They're not, they're actually authoritarians - hardly left. They're more rightwing than the typical republican or conservative.

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by Henrin View Post
    Of course, there is actually nothing fair about a system that takes more from one person than another.
    Of course it is fair... problem is right wingers look at the individual and not at society as a whole.. and that is one of their main problems when it comes to economic theory.... too much focus on the individual (the me me me me me me attitude) and not enough on improving society as a whole.



    14%, not 13%.

    Regardless, his tax rate was on capital gains.
    PeteEU

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by Mr.Nick View Post
    That is exactly correct... (In the US) with these "progressive" tax rate ideas a person making 240k a year would take home more than the person making 300k...
    That is simply not true.

    US Income Tax Calculator 2012 | The Tax Calculator

    If you put 240k in vs 300k, the 300k person takes far more home. Of course if the 240k is capital gains, then it is true...
    Last edited by PeteEU; 12-30-12 at 05:15 AM.
    PeteEU

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by PeteEU View Post
    Of course it is fair... problem is right wingers look at the individual and not at society as a whole.. and that is one of their main problems when it comes to economic theory.... too much focus on the individual (the me me me me me me attitude) and not enough on improving society as a whole.



    14%, not 13%.

    Regardless, his tax rate was on capital gains.

    Yes, 14% on gains from income invested in companies that employ people, using money that has already been taxed at the income level rates once. This was generally agreed by most people to be an incentive to invest and drive gains in business. A good thing.

    You know I find it funny that so many today let that jealous demon out and really hold genuine contempt for those who have 'made it' in business to the point that they don't think that these people deserve the wealth they earned. I think it was actually driven by the easy credit markets of the 80s, 90s, and early 00s. People tossed budgets out the window, and opted for the "I want it now" path. Then when the bills came due, they just filed bankruptcy and shoved that cost onto the system. We all saw it coming. Hell, I had friends that all had new cars, motorcycles, house, vacations, and generally living well beyond their means. They had homes that were gaining equity at rates unheard of 15, 20% per year, driven by a red hot housing market made red hot by standards that were overly lax, and gave out money with no doc loans that ended up blowing up. People in this tail end baby boom, first of Gen x ers, were some of the most selfish, dumbest rock heads I have ever known. The bills are due, and they thought that by just walking away that the debt disappeared. Well, it didn't. So now instead of taking a sober look, and accepting responsibility, and doing what is necessary to right the greed, sloth, and downright ignorance, they want to force those who did the right thing to pick up their tab. They want to punish people that 'have' because they now realize that they haven't done the things needed to 'have' themselves. It's a declining path, and may make them feel better, but in the long run, destroys this country.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by j-mac View Post
    Yes, 14% on gains from income invested in companies that employ people, using money that has already been taxed at the income level rates once. This was generally agreed by most people to be an incentive to invest and drive gains in business. A good thing.
    "Generally agreed by most people".. no.. it is agreed by those people who earn a large portion of their income this way. The argument is bull**** from start to end. All income is "taxed" several times in one way or another... why should income made by fiddling the markets be any different than income generated picking up garbage?

    And if this theory of yours was actually true, then we would have been out of this recession and crisis long ago.. because capital gains income has never been higher... so people must have been investing a lot right... wrong.

    You know I find it funny that so many today let that jealous demon out and really hold genuine contempt for those who have 'made it' in business to the point that they don't think that these people deserve the wealth they earned. I think it was actually driven by the easy credit markets of the 80s, 90s, and early 00s. People tossed budgets out the window, and opted for the "I want it now" path. Then when the bills came due, they just filed bankruptcy and shoved that cost onto the system. We all saw it coming. Hell, I had friends that all had new cars, motorcycles, house, vacations, and generally living well beyond their means. They had homes that were gaining equity at rates unheard of 15, 20% per year, driven by a red hot housing market made red hot by standards that were overly lax, and gave out money with no doc loans that ended up blowing up. People in this tail end baby boom, first of Gen x ers, were some of the most selfish, dumbest rock heads I have ever known. The bills are due, and they thought that by just walking away that the debt disappeared. Well, it didn't. So now instead of taking a sober look, and accepting responsibility, and doing what is necessary to right the greed, sloth, and downright ignorance, they want to force those who did the right thing to pick up their tab. They want to punish people that 'have' because they now realize that they haven't done the things needed to 'have' themselves. It's a declining path, and may make them feel better, but in the long run, destroys this country.
    The only contempt I have is to a system where those with the lowest incomes have the biggest relative burden put on them by a tax system which is written by the wealthy so they pay the least amount possible.
    PeteEU

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by PeteEU View Post
    There is a difference between being a millionaire and making 1 million a year.

    EDIT:

    And yea had hoped for this... good that the constitutional court is there.. and not the first time it has done something like this.
    Yeah $750,000 if the socialist boy has it his way. I suppose one would have to make 1,750,000 to actually be considered a millionaire.

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by Mr.Nick View Post
    Yeah $750,000 if the socialist boy has it his way. I suppose one would have to make 1,750,000 to actually be considered a millionaire.
    .... go read up on basic tax law before coming with such an idiotic comment.
    PeteEU

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    Re: French court rejects 75 percent millionaires' tax

    Quote Originally Posted by PeteEU View Post
    "Generally agreed by most people".. no.. it is agreed by those people who earn a large portion of their income this way. The argument is bull**** from start to end. All income is "taxed" several times in one way or another... why should income made by fiddling the markets be any different than income generated picking up garbage?

    And if this theory of yours was actually true, then we would have been out of this recession and crisis long ago.. because capital gains income has never been higher... so people must have been investing a lot right... wrong.



    The only contempt I have is to a system where those with the lowest incomes have the biggest relative burden put on them by a tax system which is written by the wealthy so they pay the least amount possible.

    Ok, so you want no incentive to invest in the markets...Why? As for your "lowest incomes" Bull, I have to throw a flag on that play...The bottom 47% of this country pay NO federal income tax. and many in the middle get refunds lowering their actual tax paid to the point where they are close to not paying anything either. You want me to cry a river for those who are able bodied, but chose to take a path of taking from my labor rather than getting off their ass and doing it themselves? NO.

    The upper 10% of this country pays the lions share of the federal tax, and they are also responsible for a good chunk of business investment that provides jobs in this country. If some chucklehead like Buffet feels he should pay more, then let him put his check book where his mouth is. WRITE THE CHECK! Other than that he should sit down and shut the f*** up.

    You want my feeling on this,

    1. We need a fair tax system in this country
    2. Those who can't work, should be either trained to do something from home in the order of paperwork, or something that earns their welfare payment.
    3. Those that are able bodied, but gaming the system, need to get out there and put in time with federal works projects upgrading our infrastructure....Lots of electric needs to be buried. Let them get a shovel.

    As for us that work our asses off, make a pay check, pay our bills, and our taxes, and are constantly squeezed by the policies of this cynical lying bunch of elites in DC that haven't a clue what things cost us out here, LEAVE ME ALONE!
    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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