29-12-2013, 17:12
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#1
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cf.mega poster
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75% Income Tax [France]
Quote:
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75% tax on salaries exceeding 1m euros (£830,000)
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http://www.bbc.co.uk/news/business-25541739
Would our government try it? 
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29-12-2013, 17:16
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#2
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Still alive and fighting
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re: 75% Income Tax [France]
If that ever happened then a lot of wealth would leave this country.
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“The only lesson you can learn from history is that it repeats itself”
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29-12-2013, 18:04
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#3
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Trollsplatter
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Re: 75% Income Tax [France]
Quote:
Originally Posted by Taf
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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.
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29-12-2013, 18:05
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#4
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Re: 75% Income Tax [France]
Quote:
Originally Posted by Taf
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Only a socialist government like labour would do that and think it right to do that
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29-12-2013, 18:08
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#5
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Mum 30/09/20 Dad 08/08/24
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Re: 75% Income Tax [France]
Quote:
Originally Posted by denphone
If that ever happened then a lot of wealth would leave this country.
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A lot of ordinary people would leave the country.
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29-12-2013, 19:19
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#6
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Inactive
Join Date: Jun 2003
Location: great yarmouth
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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.
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29-12-2013, 19:20
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#7
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Inactive
Join Date: Jan 2006
Location: Belfast
Posts: 4,785
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Re: 75% Income Tax [France]
Quote:
Originally Posted by martyh
Only a socialist government like labour.....
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Made my Sunday evening that did. Best laugh I've had in ages. Cheers.
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29-12-2013, 19:31
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#8
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cf.mega pornstar
Join Date: Jan 2006
Posts: 19,350
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Re: 75% Income Tax [France]
Quote:
Originally Posted by deadite66
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.
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It trickles one way and it ain't down
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29-12-2013, 19:32
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#9
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Inactive
Join Date: Oct 2006
Location: Right here!
Posts: 22,315
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Re: 75% Income Tax [France]
Quote:
Originally Posted by deadite66
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.
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It's been tried before and it doesn't work.
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29-12-2013, 19:33
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#10
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cf.mega pornstar
Join Date: Jan 2006
Posts: 19,350
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Re: 75% Income Tax [France]
Quote:
Originally Posted by Mr Angry
Made my Sunday evening that did. Best laugh I've had in ages. Cheers.
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Indeed, labour haven't been socialist for a long time, Tory lite but then I'd describe the current conservative party as that to.
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29-12-2013, 19:35
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#11
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Inactive
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Re: 75% Income Tax [France]
Quote:
Originally Posted by Osem
It's been tried before and it doesn't work.
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Rampant capitalism doesn't work either.
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29-12-2013, 19:47
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#12
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Inactive
Join Date: Oct 2006
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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.
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29-12-2013, 19:55
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#13
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Remoaner
Cable Forum Mod
Join Date: Mar 2004
Posts: 32,942
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Re: 75% Income Tax [France]
Quote:
Originally Posted by Osem
'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 |
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
Quote:
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* If we lived in a state of 'rampant capitalism' the banks would have been allowed to fail. They were not.
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Yes, the gains were kept and the losses are socialised.
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29-12-2013, 19:55
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#14
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[CENSORED]
Join Date: Apr 2005
Location: Wolverhampton
Age: 47
Posts: 4,218
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Re: 75% Income Tax [France]
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Help save the world from loosers
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29-12-2013, 20:05
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#15
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Inactive
Join Date: Oct 2006
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Re: 75% Income Tax [France]
Quote:
Originally Posted by Damien
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. |
At least until the time when the banks in question recover sufficient of their value that they can be sold to repay that debt.
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