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TOPIC: France Approves 75% Tax on the Rich

France Approves 75% Tax on the Rich 01 Jan 2014 18:44 #1

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And taking billions of dollars off Saudi Arabia for war weapons at the same time. Who is this man?


France’s new government has pushed for a new tax rate for high income earners that will start at 75%. This week France’s constitutional council gave it the green light. Say bonjour to the “millionaire tax.”

A higher tax rate for the rich was a campaign issue for French president Francois Hollande and after his election he and his administration have been fighting hard for the policy. That fight seemed to be lost when the constitutional court which is comprised of judges and former French presidents, ruled that taxing wealthy individuals at such a high rate was unfair and violated the constitution. Hollande regrouped and this year turned his attention towards corporations instead.

The new law would levy taxes from those who earned wages of above one million euros in 2013 and 2014. That tax, coupled with the extra taxes would make a millionaire’s tax rate around 75 percent.

France has been struggling with budget deficits similar to the United States, but unlike the U.S. it has decided that instead of austerity, it would look towards higher revenue. Instead of cutting social programs and hurting the working class, the French government has looked towards the very wealthy. The french people seem to overwhelmingly approve of taxing the rich at higher amounts.
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France Approves 75% Tax on the Rich 01 Jan 2014 18:58 #2

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Sounds like a good move for France depending on what Lebanon does with the weapons
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France Approves 75% Tax on the Rich 01 Jan 2014 19:12 #3

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.......... wrote:
Sounds like a good move for France depending on what Lebanon does with the weapons

Indeed.

Fact is, France has always looked after itself. EU regulations....they just ignore them when it doesn't suit them.

We should all do it here in Europe of course...sack the EU off... because its an ongoing nightmare.

But manufacturing and selling weapons that kill innocents to dodgy countries isn't the way to do it.
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Last Edit: 01 Jan 2014 19:24 by diamondgeezer.
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France Approves 75% Tax on the Rich 01 Jan 2014 21:17 #4

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diamondgeezer wrote:
.......... wrote:
Sounds like a good move for France depending on what Lebanon does with the weapons

Indeed.

Fact is, France has always looked after itself. EU regulations....they just ignore them when it doesn't suit them.

We should all do it here in Europe of course...sack the EU off... because its an ongoing nightmare.

But manufacturing and selling weapons that kill innocents to dodgy countries isn't the way to do it.

We won't have peace on Earth until all weapon manufacturing worldwide comes to an end it's the master code.

I realize humans are at fault so i just take life day by day now that i'm getting older.

:tumbleweed:
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France Approves 75% Tax on the Rich 01 Jan 2014 23:11 #5

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When faced with higher taxes, US businesses off-shored their concerns, taking work to cheaper labour markets. They also took investment money and tax revenue. It began in the late 80s and snowballed into the 90s, and service jobs took the place of manufacturing. Lower pay, lower standards of living and poorer quality of goods from places like China increased.


Whilst the socialist aspect of my views nods in enthusiasm for this bold move, I can see consequences that may happen to the general economy and more importantly, for the average working person in France. I am also mindful of a plethora of social problems that France has not completely resolved. Homelessness is at huge numbers -very visible in Paris, with thousands living rough in the capital; they are everywhere. There is a lot of child poverty, child hunger and low paying jobs -for those lucky to have a job.


Armaments manufacturing should be reducing, not increasing. A hard look needs doing at who profits from their manufacture and sale. When it is seen that those who draft, pass and implement policy regards their manufacture and sale, are also those who profit ..... here lie the roots of real evil, imo.
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