75% Income Tax [France]
 

http://www.bbc.co.uk/news/business-25541739

Would our government try it? :dunce:

re: 75% Income Tax [France]
 

If that ever happened then a lot of wealth would leave this country.

Re: 75% Income Tax [France]
 

No.

The people who earn that sort of money are generally also the sort of people who would as easily reside in New York as in London. If you make the tax regime hostile, they flee it. The result is, you don't get to tax any of their income, and they spend less of their wealth in your economy.

High tax regimes *do* *not* *work* beyond the short term because they reduce the amount of money in the economy, thus slowing growth, thus depriving everyone else.

Re: 75% Income Tax [France]
 

Only a socialist government like labour would do that and think it right to do that

Re: 75% Income Tax [France]
 

A lot of ordinary people would leave the country.

Re: 75% Income Tax [France]
 

Despite the rich getting richer wages for the rest of us aren't, does trickle down economics works? doesn't seem to be.

tax them i say.

Re: 75% Income Tax [France]
 

Made my Sunday evening that did. Best laugh I've had in ages. Cheers.

Re: 75% Income Tax [France]
 

It trickles one way and it ain't down

Re: 75% Income Tax [France]
 

It's been tried before and it doesn't work.

Re: 75% Income Tax [France]
 

Indeed, labour haven't been socialist for a long time, Tory lite but then I'd describe the current conservative party as that to.

Re: 75% Income Tax [France]
 

Rampant capitalism doesn't work either.

Re: 75% Income Tax [France]
 

'Fixing' something* which you say doesn't work with something else which doesn't work doesn't seem like much of an idea to me. I reckon things are a whole lot better for the vast majority of us than they were in Harold Wilson's time which is the last time such high tax rates were levied IIRC. In fact Gordon Brown's decision to raise the highest rate of tax to 50% didn't work.

http://www.bbc.co.uk/news/business-17465733


* If we lived in a state of 'rampant capitalism' the banks would have been allowed to fail. They were not.

Re: 75% Income Tax [France]
 

America had a pretty high rate of taxation until the late 80s. In the 60s/70s/80s it was approaching the rate France are at now. Even in the 90s they had a rate at 40% which for a country that is often considered low taxation is pretty high.

http://taxfoundation.org/article/us-...usted-brackets

Yes, the gains were kept and the losses are socialised.

Re: 75% Income Tax [France]
 

We need a new world economy :D

Re: 75% Income Tax [France]
 

At least until the time when the banks in question recover sufficient of their value that they can be sold to repay that debt.