French kick Sarkozy to the curb - Hollande to tax rich at 75%

[Ronstang]

Spoken like someone who has no unique skills himself. There are plenty of things that I do for my job that literally no one else in the world has the expertise to do. They might be able to learn them, but more likely the work I do would simply fall by the wayside. That's unfortunate for everyone since everyone will be affected by what I work on. I've spent over a decade learning and fashioning ideas about what I do. No one is going to drop out of high school and suddenly figure all of this out.

Yeah, Jhhnn is one of those people who is obviously not good at much and slugs along in life mad at all of us that are good at many things and enjoy the benefits of having developed useful and highly valuable skills.

I am very much in the same boat as you. Every day I do things that there really is no one else out there that knows how to do, at least correctly. My buddy and myself have grown our small business on developing expertise where none existed before. So much so that now the manufacturers of the items we repair come to us for information and help when they have a problem. You see most of them have reverse engineered what they make, we along with only one manufacturer have the original print. Our business definitely falls into the 1% and growing all the time. I'm sure it pisses Jhhnn off but if we stopped working tomorrow then what we do would die. People have tried to copy what we do, even some of the manufacturers, yet they all fail. The customers always come back to us.

 

[senseamp]

RIP France

Maybe the USSR "won" the Cold War after all.

US top marginal tax rate was 91% at the height of the Cold War. You know, the good old Eisenhower days conservatives think were the American golden age.

 

[CycloWizard]

Yeah, Jhhnn is one of those people who is obviously not good at much and slugs along in life mad at all of us that are good at many things and enjoy the benefits of having developed useful and highly valuable skills.

I am very much in the same boat as you. Every day I do things that there really is no one else out there that knows how to do, at least correctly. My buddy and myself have grown our small business on developing expertise where none existed before. So much so that now the manufacturers of the items we repair come to us for information and help when they have a problem. You see most of them have reverse engineered what they make, we along with only one manufacturer have the original print. Our business definitely falls into the 1% and growing all the time. I'm sure it pisses Jhhnn off but if we stopped working tomorrow then what we do would die. People have tried to copy what we do, even some of the manufacturers, yet they all fail. The customers always come back to us.

It simply doesn't fit into his worldview that someone could invest their time, effort, and money into something then expect a return on that investment. His goes so far as to think that they have no reasonable expectation of a return on that investment because he feels that the investment itself is worthless. This justifies the rest of his worldview: since no one has anything to offer, they have no cause for additional remuneration. The corollary is that we can train monkeys to build fusion reactors while humans recline and sip customized margaritas poured by robotic bartenders. In such a world, why would any person be paid more than a monkey?

 

[nehalem256]

US top marginal tax rate was 91% at the height of the Cold War. You know, the good old Eisenhower days conservatives think were the American golden age.

Quoting marginal tax rates has about as much relevance as walking into the shower and declaring its raining outside.

I dont see any negative marginal tax rates and yet millions of taxpayers "pay" negative income tax.

 

[senseamp]

Quoting marginal tax rates has about as much relevance as walking into the shower and declaring its raining outside.

I dont see any negative marginal tax rates and yet millions of taxpayers "pay" negative income tax.

So you have no problem raising the top marginal tax rate back to 39% it was under Clinton?

 

[QuantumPion]

The move to socialism worked so well for Spain it's sure to work for France! Oh wait...

 

[werepossum]

So you have no problem raising the top marginal tax rate back to 39% it was under Clinton?

Let's restore the top marginal tax rate back to 39% it was under Clinton at the same time we roll back government spending and the EITC to those same levels. That's REAL government spending levels, not some progressive nutbag equivalency where this year's $3.2 trillion is a draconian cut from last year's $2.8 trillion.

I don't support government taking 39% of anyone's earnings, but it would be worth it to get a little sanity in government.

 

[rudder]

It's not that hard. The massive wealth of the idle rich is used for everything from economic boosts such as infrastrucure and education and scientific research to boosting wages.

Then those investments and wages are used for ecoomic growth.

So the wealthy keep all their money in big vaults in their mansions?

I always thought a lot of that money was kept in banks which lent it out to businesses. Or the wealth was within a corporation that used that money to expand.

Now I see. You tax the wealthiest people in France at 75% and they will work harder to provide for everyone. Because we all know the more money you can take out of the economy (government taxation) the more there is to spread around.

Good grief.

 

[fskimospy]

The move to socialism worked so well for Spain it's sure to work for France! Oh wait...

Please explain your hypothesis. I'm excited to hear about it.

 

[fskimospy]

So according to you the solution to dealing with an economic system that almost collapsed is to embrace one that did?

And would someone explain why taxing the rich will create jobs?

Please explain the relationship between marginal tax rates on the rich and job/GDP growth. Be sure to use statistics and real numbers, not vacuous ideological pronouncements.

I'm not even going to bother with your attempt to relate this whole thing to the Greek system of government, because anyone who knew even the slightest thing about either France or Greece would be embarrassed to try and do so.

 

[BoomerD]

Didnt say i was fortune 500, although I wouldnt mind getting there. Unless i was in frnce of course, then i would actually be making less money then i i just ran a small to med sized business.

Im sure the progressives will do everything in their power to help out my small business:whiste:

On what point do i make myself look like a conservative? The point where I dont support 75% tax on the rich? The point where ive had to expand more slowly and hire less people due to being taxed at an already high percentage? Or the point where i believe rich people will look for a way to allocate their money in such a way as to avoid a 75% tax and that personally I would do the same?


And to the last remark: Well if france really does do this then I guess the world will find out.

Joe the plumber? Is that you?

You still seem to fail to understand that YOU and your business aren't likely to get hurt by increased taxes on the rich and mega-corps.

Do I think what is happening in France and Greece will be good for their countries? Nope...not at all...but I have no problem with reverting back to much higher taxes on the super-rich. It's not like they're going to give away all their money and go on welfare because the tax breaks are better...

Sometimes I think that the right's idea of job creation is needing more tax lawyers and accountants so they can hide more of their money...

 

[fskimospy]

By the way, I'm really enjoying the epic explosion of ignorance, stupidity, and insanity that such an election has generated. There has been no critique of Hollande's actual economic policy, just hilarious frothing, nebulous pronouncements of catastrophe, and vague assertions of OMGSOCIALISM.

It's the same thing that the same crowd of stupid people try every time. I sincerely encourage all of the doomsayers for French OMGSOCIALISM to make concrete predictions of what you think this leadership will lead to. Don't be shy!

 

[werepossum]

Joe the plumber? Is that you?

You still seem to fail to understand that YOU and your business aren't likely to get hurt by increased taxes on the rich and mega-corps.

Do I think what is happening in France and Greece will be good for their countries? Nope...not at all...but I have no problem with reverting back to much higher taxes on the super-rich. It's not like they're going to give away all their money and go on welfare because the tax breaks are better...

Sometimes I think that the right's idea of job creation is needing more tax lawyers and accountants so they can hide more of their money...

You still seem to fail to understand that some people have ethical reservations about robbing others for their own benefit even if it's likely that they themselves won't be robbed. It's "You shall not steal", not "You shall not steal unless you're pretty sure you won't be robbed in turn."

 

[monovillage]

Big deal, sooner or later they'll just run out of Germany's money to spend.

 

[Jhhnn]

Yeah, Jhhnn is one of those people who is obviously not good at much and slugs along in life mad at all of us that are good at many things and enjoy the benefits of having developed useful and highly valuable skills.

I am very much in the same boat as you. Every day I do things that there really is no one else out there that knows how to do, at least correctly. My buddy and myself have grown our small business on developing expertise where none existed before. So much so that now the manufacturers of the items we repair come to us for information and help when they have a problem. You see most of them have reverse engineered what they make, we along with only one manufacturer have the original print. Our business definitely falls into the 1% and growing all the time. I'm sure it pisses Jhhnn off but if we stopped working tomorrow then what we do would die. People have tried to copy what we do, even some of the manufacturers, yet they all fail. The customers always come back to us.

Mighty big ego at work there. You merely affirm what I offered- having the original print is an issue of market position in your little niche, and the other guys who have it will step up to cover the difference if you drop out. Well, if that niche is worth maintaining in the first place.

Nice bit of ego building fluffery wrt my place in the world. You'd probably be electrocuted the first day in my workplace.

 

[OCGuy]

Has France done anything worthy since helping us during the Revolution?

Nope, didn't think so.

 

[monovillage]

Has France done anything worthy since helping us during the Revolution?

Nope, didn't think so.

They inspired the "cheese eating surrender monkeys" line in The Simpsons

http://en.wikipedia.org/wiki/Cheese-eating_surrender_monkeys

 

[WelshBloke]

ITT lots of people who don't understand tax bands or French politics.

 

[DCal430]

Here is a Tax system that I think is fair and the goverment should be able to live within.



VAT or BNRT Tax:

1. 25% Business Net Receipt Tax or VAT on all goods and services (including food)

Business Excessive Compensation Tax:

1. 25% Business paid Tax on all individual employee pay and compensation between 250,000 and 1 million. (includes base salary, stock options, gifts, etcetera)
2. 50% Business paid Tax on all individual employee pay and compensation over 1 million in a given year. (includes base salary, stock options, gifts, etcetera).

Income/Payroll Tax:

1. 10% payroll/self employment tax on earned income between 30,000 to 59,999 a year
2. 20% payroll/self employment tax on earned income between 60,000 to 99,999 a year
3. 35% payroll/self employment tax on earned income between 100,000 to 500,000 a year
4. 50% payroll/self employment tax on earned income over 500,000 to 10 Million.
5. 75% payroll/self employment tax on earned income over 10 Million.

Other Income Tax (Stock earning, dividends, capital gains, rental, etcetera)

1. 25% tax on all other income between 0 and 1 million.
2. 50% tax on all other income between 1 million and 10 million.
3. 75% tax on all other income over 10 million.

Other:

1. $250 a month rebate for each person, including children.
2. All tax revenue above will be divided 25% to the state and 75% to the federal government


All tax revenue below will be for federdal government only.
1. 25% estate tax for 1st 500k
2. 50% estate tax for 2nd 500k
3. 75% estate tax for 1M+ to 1Billion.
4. 95% estate tax for over 1Billion.

All tax revenue below will be for states only

1. 1.5% property tax, with a 5% max increase in assessed value a year for a single primary place of residence.

THERE SHALL BE 0 DEDUCTIONS ON PAYROLL TAXES.

 

[rchiu]

Here is a Tax system that I think is fair and the goverment should be able to live within.

VAT or BNRT Tax:

Business Excessive Compensation Tax:

Income/Payroll Tax:


Other Income Tax (Stock earning, dividends, capital gains, rental, etcetera)

Other:

Do you understand the concept of Return on Investment? For stock earning, dividends, capital gains, rentals....etc, a lot of those income is dependent on the investments.

Do you think it's fair when someone risk, for example $100M, to get 6% return and get taxed big time, when other people when they risk, 100k, to get the same 6% and get taxed at much lower level?

And why should we care about "fair"? There are different goals and objective for different types of tax. For those things like stock earning, capital gain, a key objective is to boost investment. Why care about "fair" instead of a system that will give the people the incentive to invest and give an optimal economy?

If you want fair, why not just go back to communist system so it's "fair" for everyone?

 

[rchiu]

By the way, I'm really enjoying the epic explosion of ignorance, stupidity, and insanity that such an election has generated. There has been no critique of Hollande's actual economic policy, just hilarious frothing, nebulous pronouncements of catastrophe, and vague assertions of OMGSOCIALISM.

It's the same thing that the same crowd of stupid people try every time. I sincerely encourage all of the doomsayers for French OMGSOCIALISM to make concrete predictions of what you think this leadership will lead to. Don't be shy!

His polices to increase tax, and reduce deficit to 0% GDP by 2017 will hurt France in this economic climate.

But of course, that's just my belief and I welcome the chance for leftist to test their theory on Frech people

 

[ichy]

This is all trivial stuff. The first round vote had a Nazi-like party's candidate gather 18% of the vote. That's the true winner of the French presidential elections.

LePen is not Nazi-like.

 

[ichy]

The enviousness and outright bigotry that's shown towards the wealthy in this thread is pretty telling. Fortunately Hollande is far too much of a cowardly, milquetoast weasel to do anything nearly as damaging as he promised he would do.

 

[ichy]

US top marginal tax rate was 91% at the height of the Cold War. You know, the good old Eisenhower days conservatives think were the American golden age.

Nobody actually paid a 91% tax rate back then.

 

[cybrsage]

Here is a Tax system that I think is fair and the goverment should be able to live within.

Did you invent this, or copy it?