Topic: Will this cause France to get into Bitcoin - 75% Tax on Rich - page 3. (Read 5517 times)

almost 40% of that goes to federal though. you know, so they can spend the money "defending" our country by invading others.

California is not too far away from this now.  55.7% marginal rate above $508,000.

39.8% federal + 3.8% ACA + 12.1% state.  Not to mention payroll, Social Security, etc.

It is not the French politicians who are retarded. As a matter of fact, the French politicians are one of the most shrewd of their kind.

It is the common people of France who are retarded, for electing these sort of leaders.

Sooo, being a 75% slave is outrageous, but being just 61% is acceptable. Go figure...

https://translate.google.fi/translate?sl=fi&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fsaituri.org%2Fverotus%2Fpaljonko-oikeasti-maksat-veroja%2F&act=url

Holy shit, 75%? At that point it's just worth it to leave the country. No country is worth a 75% tax rate to live in it.

France politician are retarded, it's unbelievable !
Anybody who is millionaire won't care about moving elsewhere.
They will lose billions every years.

Those companies will pay shares as compensation instead, no difference

This could be -exactly- the case in France.  It's already happening in the US with the Obamacare law!   It's on a smaller scale but affects many more people and at a smaller rate.  $250,000 in the number is the US.  Make more than that next year, you're going to be hit with an extra 3.8% tax.  I know it's small.  But if you're around that number (many doctors, dentists, smaller attorneys, etc), they are being changed to earn $249,999 next year and then setting up a deferred compensation plan.  It's not a marginal tax like the income tax tables are.  It happens in the US for a small extra tax, it'll certainly happen in France for such a large tax.  You're going to see a bunch of $999,999 Euro salaries. 

Or simply people leaving.

How about a deferred compensation consisting of 0.1 BTC along with a link to a unique Bitcoin dice game, of which the link only works for them?

-Each roll, one doubles their bitcoins.
-Every roll is a winner until X rolls is reached.
-On the last roll of which you lose, you still get to keep your initial bet.
-Site/Link crashes, whereupon you can't play any longer and the funds are immediately sent to the gambler's output bitcoin wallet address.

France is currently ruled by the Socialist party. There is a methodology adopted by the socialist parties all over the world to retain power. It is like this:

1. Tax to death the 10% hard working people and squeeze as much money as possible.

2. Give this tax money as benefits to the remaining 90%, lazy people.

3. After a few years, most of the hard working people will run away and the economy will collapse.

4. Now blame the economic collapse on Capitalist forces

5. Brainwash the remaining population (by this time will be living in ghettoes and slums), so that no other party will be elected to power other than the socialist party.

This has been successfully conducted in many of the world nations. Let's wait to see whether their experiment in France will be a successful one or not.

Back that up with figures please, if you're going to make claims like that Show me how an average working class French citizen pays ~75% in taxes.

Prehaps most rich in France are state leachers.

The true tax rate is higher then 75%.  75% is the rate that working class folk pay. The pay council tax, income tax, vat,  inflation tax, and tax that indirectly make goods and services more expensive because of verious business taxes.

It does not matter man, that is not how taxes works. "Companies will pay" is just what French president thinks it will happen, they will just re-engineer their finances so that they don't pay a damn and lower level employees and even the well paid (at a certain level) will pay the amount to be taxed under this new system. Anyway, it is pretty obvious that the 75% is over the amount that excees 1M and not over 1M itself, I am not for it but I recognize that at least it is not constructed in a dumb way, the guy that earns a salary of 999,999.99 EUR cannot pay substantially less taxes than the guy earning 1,000,000 EUR, this is ridiculously dumb and this is not how it works (does not matter if its income tax, taxes over salary paid by companies, or whatever). I am also very curious (seriously) to know if there is any taxation system in the world in any serious country that actually works as you think this one does. Please show me a tax in which the amount of money of N-0.01 pay substantially less taxes than the amount of N+0.01 if you have any example.

As for the "cite" with further explanations, I have found this one:

http://guideimpots.com/calculer-impot/324-contribution-exceptionnelle-fortune.php

"La contribution exceptionnelle taxera la fraction de l’ensemble des revenus d’activité professionnelle des personnes physiques supérieure à 1 000 000 €."

I will be very pleased if you show me any reliable source that shows that it works the way you are saying it does, however.

Some one made a famous quote many decades ago.

"The trouble with socialism is that eventually you run out of other people's money"

Hollande should be knowing about that.

lol.

People who move because of this are the ones with small portable fortunes.  The real rich in France are those that gain huge incomes from companies and property.  The companies can't move because they have a symbiotic relationship with the state (French diplomats often seem to work as salesmen for infrastructure and arms companies) and of course property owners can't move either.

We may disagree with taxing the rich as opposed to raising tax on the lower orders but its not stupid.  

That's true I suppose, but we're supposed to be living in a society here.

Let's take this to its extreme conclusion, with a contrived example from the past: imagine a city of 1000 people, where 950 of them are peasants with no property and barely enough income to put food on the table. 49 are the Baron of the City's household. 1 is the Baron himself. He owns all of the land, all of the wealth that the city and surrounding lands generates goes to him. Is this a city you'd like to live in?

And don't kid yourself that you will be the Baron

When jobs leave France and more people are unemployed the "intentions" won't matter one bit to those taking a handout.  And I think their intentions are anything but noble: greed, envy, and control. 

When the 50% majority who are making less than the average/median decide that anything about that is "huge" and vote in politicians to stop it, then we'll be really screwed. Huge depends a lot on perspective.

I agree with this. Also see footballers in Britain who are now earning 80k per WEEK, while 500k people in the UK are eating from food banks.

Something has to give, or there really will be blood on the streets.

Edit: also, out of interest, would anyone on this thread complaining about this tax being ridiculous actually be affected by it if it was in their country? Classic case of "I'll be as rich as those guys soon so don't raise taxes before I get there, any time now!"

The system is rigged against you. No matter how bright or innovative you think you are, there is no more room at the top for upwardly mobile innovators.

agree