France imposes 75% tax rates

[Last hard class]

Coming soon, to a government near you.


http://money.msn.com/business-news/article.aspx?feed=OBR&date=20120928&id=15611241


I would think this will give Mitt some talking points.

LHC

[longrange1947]

Different Constitutions. :munchin :D

See how long before the rich start the exodus to Belgian and Switzerland. My bet is less revenue coming in and since he did not cut where he needed to, he will be even further in debt.

[Badger52]

Different Constitutions. :munchin :D

See how long before the rich start the exodus to Belgian and Switzerland. My bet is less revenue coming in and since he did not cut where he needed to, he will be even further in debt.Bingo. This has happened in some New England states (and CA maybe?). If you beat up on your ca$h cow that can walk of its own volition, pretty soon they're scarce and all remaining are the next generation of victims.

[XngZeRubicon]

Coming soon, to a government near you.


http://money.msn.com/business-news/article.aspx?feed=OBR&date=20120928&id=15611241


I would think this will give Mitt some talking points.

LHC

As a businessperson, I have the hardest time understanding why people can't see how increased taxes and regulations cut productivity and therefore revenue and profits. And with less revenue and less profits, that means less jobs.

Would love to see this taught in our schools. Along with how money does NOT grow on trees.

[sinjefe]

As a businessperson, I have the hardest time understanding why people can't see how increased taxes and regulations cut productivity and therefore revenue and profits. And with less revenue and less profits, that means less jobs.

Would love to see this taught in our schools. Along with how money does NOT grow on trees.

From a government standpoint, it isn't about revenue and profits. It's about power.

[Geenie]

This has been heavily debated here in France, though, on average, people do lean pretty far to the left. As far as the implications of this tax go, however, the whole thing might not be quite as crass at it seems at first glance; from what I understand, very few people in France actually qualify for that tax-bracket. Those that do, it could be argued, have enough money to find the loopholes in the legislation -- After talking to some folks here about the matter I get the feeling that Hollande's plan to institute this tax is largely a symbolic gesture to please his base. It seems to me that this 75% tax on the rich may have been merely one of those bold pre-election promises that help contrast the candidate on the left from the one on the right. When it comes time to implement those changes, things often don't turn out the way they were planned (or presented?) at the outset. Just think of all the things Obama promised during his campaign :D

just my two cents.

[orion5]

As far as the implications of this tax go, however, the whole thing might not be quite as crass at it seems at first glance; from what I understand, very few people in France actually qualify for that tax-bracket........I get the feeling that Hollande's plan to institute this tax is largely a symbolic gesture to please his base. It seems to me that this 75% tax on the rich may have been merely one of those bold pre-election promises that help contrast the candidate on the left from the one on the right.

France's situation is extremely serious. Rising unemployment, stagnant growth. Other European countries like Spain and Greece in meltdown.

Even more serious is that every other European country from Greece to Britain has not been able to solve the problem (simultaneous deficit-cuts and driving growth) - which should make France even more maniacal about solutions they propose. The budget for 2013 isn't politician fun-n-games. This is your whole country about to go down the toilet.

But nope. They're wasting all their time fulfilling campaign promises and rolling out symbolic, meaningless gestures.

It's amazing to me that we, the people, in any country, put up with that anymore. But hey, Hollande's suits are crisp and he has clean fingernails. Let's vote for him again.

[Peregrino]

It's amazing to me that we, the people, in any country, put up with that anymore. But hey, Hollande's suits are crisp and he has clean fingernails. Let's vote for him again.

Lotta people fiddling while Rome burns.

[Team Sergeant]

Socialism is great until you run out of other people's money.
Former British Prime Minister Margaret Thatcher

Europe is about to find out what it is to actually run out of other people's money.

The people of Greece are already rioting in the streets.... Calif is another on it's way to meltdown.

Buy more ammo.....:munchin

[tom kelly]

John Maynard Keynes (1883-1946) In his book "THE ECONOMIC Consequences of the PEACE " published in 1919. Keynes wrote about his objections to the punitive reparations payments imposed on Germany by the Allied Countries after World War I. The amounts were so high that a Germany that tried to pay them back would stay perpetually poor and therefore politically unstable. We now know that Keynes was right. Today we know the consequences of that was the rise of Adolf Hitler and WW II. Now Germany is sholdering the debt of most of the European Nations whose economy is based on the EURO. Greece, is broke along with Spain, Italy, and Ireland. The United States is in debt there are two numbers expressing the debt one is 15 Trillion and the other figure is 46 Trillion; with a large per-centage held by China. States like California, are in deep debt along with an increasing number of cities and townships across the country. Unemployment is high in Europe and the U S A , Prices for staples like energy and food are rising, record numbers of homes are in foreclosure and the present administration wants to raise the debt ceiling; Borrow more and spend more, than raise taxes. If BHO is re-elected and depending on the make-up of the Congress, The future of the U S A will be in deep trouble. Just my .02 cents of opinion. VOTE RIGHT NOV.,2012 TK.