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France's millionaire tax


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2012 Oct 2, 9:58pm   2,035 views  3 comments

by StoutFiles   ➕follow (0)   💰tip   ignore  

http://money.cnn.com/2012/10/01/news/economy/millionaire-taxes/

France's Socialist President François Hollande is the talk of Europe for his planned 75% tax rate on individual incomes over €1 million. When enacted, the new rate will catapult France to the top of the list of high-tax countries.

While 75% might seem crazy, we had a 90% tax rate in the 40's & 50's, so it's possible. I can't see how France can pull this off if they're the only one's doing it though, all their millionaires are going to flee the country.

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1   freak80   2012 Oct 3, 12:20am  

StoutFiles says

I can't see how France can pull this off if they're the only one's doing it though, all their millionaires are going to flee the country.

Ah, the wonders of globalization. Allowing a cabal of global plutocrats to rule in their own interest with no accountability to anyone.

2   zzyzzx   2012 Oct 5, 4:08am  

If I were a rich person in Alsace-Lorraine I'd be trying to get the French to sell the place back to the Germans.

3   American in Japan   2012 Oct 7, 12:31am  

Sometimes you might have to say, "good riddance". It depends on why they are millionaires. Paris Hilton types...don't let the screen door hit you on your way out.

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