Title: the French income tax rate increases Post by: rob in cal on May 07, 2012, 10:33:29 AM Assuming newly elected French President Hollande can actually get his income tax increases through the National Assembly we will see a great test case of how people react to a massive rate increase, albeit just a small amount of people. He proposes to increase the 40% rate to 75% on all income above a million euros, (not sure where household size comes in on this though), and it will be fascinating to watch how big earners react. I wonder how many of them there are, and how many make just into that million euro area and so wouldn't be too effected. Also, how many might slack off a bit, once their rate jumps that high.
Title: Re: the French income tax rate increases Post by: opebo on May 07, 2012, 11:46:00 AM 'Slack off a bit'? You imagine that such people every do any toils at all? What a fantasy! They idly collect exactions from the working classes they control.
But I agree it is quite possible they will try to do their exploitation more by remote control from Monaco or Andorra, if they can't be stopped. Title: Re: the French income tax rate increases Post by: rob in cal on May 07, 2012, 12:22:21 PM I'd like to see a breakdown of income sources for those making one million or more per year. In the US, earned income is a pretty substantial source of income for the top 1%, not just investment income. Its the earned income portion in France that I'd guess will go down significantly if one saw a jump from 45% to 75% over a certain level. The highest level now is 40% but Holland also proposes a raise of 40 to 45% and then the new rate of 75% above a million.
Title: Re: the French income tax rate increases Post by: opebo on May 07, 2012, 12:57:08 PM I'd like to see a breakdown of income sources for those making one million or more per year. In the US, earned income is a pretty substantial source of income for the top 1%, not just investment income. Its the earned income portion in France that I'd guess will go down significantly if one saw a jump from 45% to 75% over a certain level. The highest level now is 40% but Holland also proposes a raise of 40 to 45% and then the new rate of 75% above a million. Nonsense. What someone labels their income as at that this grand level is entirely up to the lord or lady in question. Title: Re: the French income tax rate increases Post by: phk on May 08, 2012, 03:08:42 AM Set salaries at 999,999.99
Title: Re: the French income tax rate increases Post by: © tweed on May 08, 2012, 10:37:44 AM Set salaries at 999,999.99 why would that matter? Title: Re: the French income tax rate increases Post by: opebo on May 08, 2012, 01:33:10 PM Set salaries at 999,999.99 Yes, please start with mine... Title: Re: the French income tax rate increases Post by: ag on May 08, 2012, 09:18:54 PM Set salaries at 999,999.99 Do you really think there is a jump in tax liability once a threshold is reached? :)) Title: Re: the French income tax rate increases Post by: Badger on May 19, 2012, 10:07:24 AM Set salaries at 999,999.99 I'm not sure you're clear on how progressive taxation works..... Title: Re: the French income tax rate increases Post by: Torie on May 19, 2012, 11:11:47 AM Set salaries at 999,999.99 I'm not sure you're clear on how progressive taxation works..... You don't think that when you hit a million euros, suddenly your first million is taxed at 75%, implying a marginal rate for a band of income of some fantastic percentage like 5000% or something (I will let Muon2 do the maths on this one)? :P Title: Re: the French income tax rate increases Post by: opebo on May 19, 2012, 12:15:28 PM I don't see why people are jumping to the conclusion that phnk doens't understand progressive taxation - nothing in his post implied this. He's just saying - don't pay people more than 1 million euros and they won't face the 75% incremental rate. It is an admirable suggestion, though I can think of a better solution.
Title: Re: the French income tax rate increases Post by: 🐒Gods of Prosperity🔱🐲💸 on May 19, 2012, 04:08:47 PM Set salaries at 999,999.99 Do you really think there is a jump in tax liability once a threshold is reached? :)) Title: Re: the French income tax rate increases Post by: Yelnoc on May 19, 2012, 11:16:39 PM Set salaries at 999,999.99 Do you really think there is a jump in tax liability once a threshold is reached? :)) :( Title: Re: the French income tax rate increases Post by: Badger on May 24, 2012, 10:24:20 PM I don't see why people are jumping to the conclusion that phnk doens't understand progressive taxation - nothing in his post implied this. He's just saying - don't pay people more than 1 million euros and they won't face the 75% incremental rate. It is an admirable suggestion, though I can think of a better solution. No, his implication seemed to be that taxation at a million euros a year would cover the entire million euros. Maybe not what he meant, but it's how it read. |