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(Telegraph)   Wealthy French to new socialist government: We burst our pimples at you from our tax havens and call your 75% tax rate a silly thing   ( divider line
    More: Obvious, French citizens, tax rates  
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2285 clicks; posted to Business » on 17 Jul 2012 at 10:52 AM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-07-17 11:01:29 AM  
1 vote:

bdub77: Even I think that is a retarded tax rate. 75% if you make just a million euros? Seriously ridiculous.

Now 75% if you make 200 million euros a year? If you are earning that much, then maybe. But I'd top out at 50-60%.

Personally I'd like to see the US adopt a 50% highest tax rate, with much more reasonable tax rates (33%) at the 250k-1 million level, progressing from 33-40% at 1 million-5 million, 40-50% from 5-10 million, and 50% any higher than that.

Rich friends of mine have argued that it's not fair. And my answer is that it's not about whether it's fair to tax the rich more, it's about what is best for everyone. At some point I believe you keep taxes low to allow consumption to occur at lower tax brackets so that the rich make money and hire more and everything else.

And more focus should be on education. Jobs going overseas are not coming back, people. The money is in innovation and new technology. People need to be properly educated. And to me it's not about high school - with some exceptions there are decent high schools out there. No, the college system is totally f*cking broken.

My arguement to that is that wealth in the US is private property. In no way should it be okay for the government to take private property just because it's for the good of everyone. Taxes at 50% is boarderline slavery by society.
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