The left-wing French coalition hoping to introduce 90% tax on rich

[phcitywarrior]

folks equating billionaires to some guy making 415k this is absolutely asinine to be taxing like that on someone making that level of income

Taxing 91% on $400K is crazy. $400K is like Doctor or high middle management money. It’s very good but not crazy rich.

Who cares how much a few people make. Jeff bezos being rich doesnt effect your life. Youre focused on the wrong thing

The things that effect your life is rent/mortgages going from 10-20% of your salary to over 50%. Car payments being the highest in history. All these subscription services that didnt exist before just to amount to same shyt but more expensive than cable. Cost of goods and food being high. Cell phone/utility bills/cost being high.

The bolded is the real heart of the issue and people deep down in the deepest recesses of their hearts know it. If a $50K annual salary could afford most people decent housing, transport, necessities and a little left over for savings and leisure, there would be less claims of taxing the rich.

Throughout history there has always been human hierarchy and there always will be. Some people are great at creating products that are financial successes, some are savvy with investing, etc.

The role of the government should be to ensure the floor of society is raised, not necessarily to lower the ceiling.

I’ll never buy this talk that “no one should ever be a multi-millionaire” that it’s too much money. Reeks of pocketing watching. How can I be here telling another man what to do with his money.

I live in the SF Bay Area and work with many people that are multi-millionaires from tech. You’ll never see me say they should not be allowed to have that money they earned.

 

[Absolut]

I live in the SF Bay Area

Can’t tax what they don’t allow you to make

 

[Scustin Bieburr]

That's how the US operated before the top rate was (slightly) dropped during JFK's presidency. The top rate was above 90% throughout the 1950s in the US, and ranged from 80-94% in the 1940s.

There is a version of conservatives that exists where they want to return shyt like this. It's what built the middle class in America.

But instead the democrats will call that unrealistic and Republicans will call that communism. Money has completely ruined American politicians. It's like watching your uncle who was a prime athlete reduced to a huddled mass babbling nonsense.

 

[Jesus H. Christ]

Posters who arent even close to making 400k are in this thread vehemently arguing against the bill.

Ol 35k a year on income goofy ahh worrying about the 1%


Dap + rep

 

[IIVI]

this would reduce, say, dudes making 20 mil a year in the NBA to making 1-2 million. it's fukking stupid

I think taxing a millionaire hard like that isn't the move. Better move would be to make $1 billion a ceiling.

That said, I could care less about the feelings of people who make $20 mil/year. They should pay a lot more in taxes.

How long will it take for you to make the single $20 mil they make in a year? In five years they'll make $100 mil. How long will it take for you to make that?

 

[Gloxina]

At America's "peak", the rich got taxed at 91% if you made $200k (equivalent to $1.9M/yr today). Not all their money was taxed at that top rate of course.

Only issue with the income tax is it punishes "new money" people like athletes, musicians, actors etc., where the bulk of their worth comes from the money they make. A breh that makes $40M/year in the NBA has a much higher tax burden than someone who made $40M on the sale of some securities (income tax vs. long term capital gains tax).

America is designed to help the rich keep their money, especially once you get over a certain threshold. Europeans don't play that shyt, especially the French or Scandinavians. French got no problems chopping off heads. Americans are too divided but that's by design. White people would rather struggle than help lift all boats.

Mmhmm


We could learn quite a bit from them. THEY will tear shyt up

 

[the cac mamba]

I think taxing a millionaire hard like that isn't the move. Better move would be to make $1 billion a ceiling.

That said, I could care less about the feelings of people who make $20 mil/year. They should pay a lot of taxes.

In five years they'll make $100 mil. How long will it take for you to make that? How long will it take for you to make the single $20 mil they make a year?

this is a communist attitude. i can't do what they do, so i dont deserve what they make

the government taking 90% of anything over 400k is asinine. 50, 100 millionish is more like it

 

[IIVI]

this is a communist attitude. i can't do what they do, so i dont deserve what they make. 90% of anything over 400k is asinine

It's not really about deserving what they make, it's about how much they make compared to everyone else for me.

I think they deserve to make more than other people for being special, no doubt, but a multiple million times more than other people making $100k while paying marginally more in taxes is crazy.

These are two extremes, somewhere in the middle is more ideal.

 

[Rollie Forbes]

Yikes. 90% tax above 400k seems a bit extreme. That pretty much eliminates anyone from being a billionaire and unlikely to be a multi Millionaire.

 

[Absolut]

These are two extremes, somewhere in the middle is more ideal.

This can be said about virtually everything in politics. Problem is the 2 extremes would rather throw their small bases red meat headlines on policies that will ultimately not amount to shyt rather than work towards a middle ground

 

[Jatt]

Money allows the rich to circumvent laws/society/politics, the more they are taxed the more you can restrain this

 

[Geek Nasty]

they tried the 75% on income over 1m back at the start of the 10's and then had to fall back a few years later.

France forced to drop 75% supertax after meagre returns

Hollande’s measure was meant to force wealthiest to help dig country out of economic crisis, but was accused of being anti-business

www.theguardian.com

That is ridiculous

 

[UnQuantized]

French left don't play aroundThey really about that lifeThere is a reason why they are feared as much as the far right in France.

 

[itsyoung!!]

Shut up faggit all this shyt I didn't read.

You a niners fan

It's 9am and you got my shaft in yo mouf , get some breakfast first.

Maybe a coffee

You really a weirdo

 

[WIA20XX]

Y'all really think Frenchy is finna collect that money from the LVMH family...

They got lawyers in France too. They'll restructure the businesses, investments, etc.
It's exactly what happened when America had a 90% Tax Rate. Nobody paid it.

America was on top then, 1944-1963 - because it was right after the war (WW2), Europe and Japan were rebuilding.
And the Euros financed the rebuild through America (aka the Marshall Plan) - about 15B
Japan got about 2B.
Key word is finance - the Euros had to pay reparations...
Indeed, they had to pay for all the weapons and arms we gave em

So not only do did American manufacturing level up in terms of productivity, not only were your competitors in shambles, they were paying at the same time. The American economy primarily benefited from this economic dominance, much less the marginal tax rate.

Taxing rich people ain't really about taking that money and spreading it around via payments/government services. Not in America at least.

Taxation is about controlling the rich, about taking their power away, or rather taking control of the society back from the rich elites.

They should not be able to buy and sell Supreme Court Justices, Senators, House Reps, or state politicians or city politicians.

France needs to do some REAL HOUSE CLEANING.

French Revolution - Wikipedia

en.wikipedia.org