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French election

I heard on NPR yesterday that the new pres of France wants to tax all earnings above $1M euros at 75% and apparently has overwhelming support. The news story said this only affects approximately 3000 people. There are only 3000 millionaires in France?? I was surprised by that.

Interesting. Same tax rate the US used to run before we started our deficits, lol.

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Tax rate? What's really important is Revenue generated.
 
^^^ Interesting. Shows it won't hurt to try it again, right? :)

Tax rate? What's really important is Revenue generated.

True. The core problem all developed countries have in common?
They all have gone through 20 years of only exporting JOBS.

China/India/Brazil are being pushed online to be consumers. For them to be consumers they first needs jobs. That's where we come in. America and Europe's main export is JOBS. What's that mean? The average salary(adjusted for inflation) is lower today than it was 30-40 years ago. What's that mean? Lower revenue/gdp.
 
^^^ Interesting. Shows it won't hurt to try it again, right? :)
No, actually it tells us to learn from the past and not raise it to those absurdly high levels; because if you do the revenue won't pour in like the leftists expect.

Take a lesson from the F1 drivers who leave their native countries seeking tax havens (most Monaco, some Switzerland) - anywhere but the countries that want to confiscate more than half their earnings. If you ask me, stealing half of someone's income is infinitely more immoral than the able-bodied, but lazy "poor" sitting on their asses with their hands out.
 
No, actually it tells us to learn from the past and not raise it to those absurdly high levels; because if you do the revenue won't pour in like the leftists expect.

Take a lesson from the F1 drivers who leave their native countries seeking tax havens (most Monaco, some Switzerland) - anywhere but the countries that want to confiscate more than half their earnings. If you ask me, stealing half of someone's income is infinitely more immoral than the able-bodied, but lazy "poor" sitting on their asses with their hands out.

Bingo! When the tax rate is too high, they will leave the country and take their wealth with them.
 
No, actually it tells us to learn from the past and not raise it to those absurdly high levels; because if you do the revenue won't pour in like the leftists expect.

Take a lesson from the F1 drivers who leave their native countries seeking tax havens (most Monaco, some Switzerland) - anywhere but the countries that want to confiscate more than half their earnings. If you ask me, stealing half of someone's income is infinitely more immoral than the able-bodied, but lazy "poor" sitting on their asses with their hands out.

I would imagine that, in an ideal world, Govts would have to take less money from those that actually earn it if there were less able-bodied and lazy people sitting on their asses demanding a handout. JMHO.
 
Take a lesson from the F1 drivers who leave their native countries seeking tax havens (most Monaco, some Switzerland) - anywhere but the countries that want to confiscate more than half their earnings. If you ask me, stealing half of someone's income is infinitely more immoral than the able-bodied, but lazy "poor" sitting on their asses with their hands out.

True. If I had to guess, the biggest problem isn't taxing the wealthy working people, it's getting big companies to pay anything at all. Seems the biggest companies in the US don't pay a dime.
 
I would imagine that, in an ideal world, Govts would have to take less money from those that actually earn it if there were less able-bodied and lazy people sitting on their asses demanding a handout. JMHO.

Yep.. call me crazy but we are so far away from a 'fair' tax system it's a joke.

Here are the main components of government spending:
military expenditures - same for all citizens
infrastructure expenditures - same for all citizens, gas tax accounts for differences in usage.
health care expenditures - same for all citizens

Making the numbers up, everyone over the age of 18 would "owe" $3,000 for military expenditures, $3,000 for infrastructure spending, and $3,000 for healthcare (government provided portion) each year. People paying less than $9k are scamming the system and those above it are paying more than their fair share.

Taxes as a % of your income is progressive in-of-itself. Not to mention those paying in higher numbers are usually not recipients of welfare, subsidized hospital bills, etc. My friend's girl friend had her baby for NO cost and they receive enough money to feed their entire family at NO cost as long as the kid is still a kid.

In fact, non profits (subsidized by the gov't) actively sought her out so she could take advantage of the programs and walked her through every step. They have easily received 60-75k in benefits. My friend does okay and certainly makes more than the average american working at a high end steak house but since they aren't married she is basically classified as a homeless, unemployed mom (she lives with him in an apartment).

60-75k is easily the total I've paid in taxes since I graduated college in 2008 - all those taxes right down the drain.
 
The problem with your point, which I completely agree, is that people by nature are lazy, and if the government promise them everything, they will sit there and wait for it, as long as the belly is full and a roof over their head.

Like Adam Carolla said best, today we have a bunch of haters out there, instead of looking at someone's nice car as a their personal goal, they rather throw a rock at it. This mentality is all over Europe, just look at all the riots and protests, and it has spread to our shore. Oakland and NY City are just two of the worse infested area in north America.

Like my what my parents is saying, it's time to pack up and go back to Taiwan.
 
Thoughts on these numbers?


Corporate profits just hit another all-time high.

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Corporate profits as a percent of the economy are near a record all-time high.

corporate-profits-as-a-percent-of-the-economy-are-near-a-record-all-time-high-with-the-exception-of-a-brief-happy-period-in-2007-just-before-the-crash-profits-are-higher-than-theyve-been-since-the-1950s-and-they-are-vastly-higher-than-theyve-been-for-most-of-the-intervening-half-century.jpg



CEO pay is now 350X the average worker's, up from 50X from 1960-1985.

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CEO pay has skyrocketed 300% since 1990. Corporate profits have doubled. Average "production worker" pay has increased 4%.

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After adjusting for inflation, average hourly earnings haven't increased in 50 years.

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This is the lowest percentage of Americans with jobs since the early 1980s (And the boom prior to that, by the way, was from women entering the workforce)

put-differently-this-is-the-lowest-percentage-of-americans-with-jobs-since-the-early-1980s-and-the-boom-prior-to-that-by-the-way-was-from-women-entering-the-workforce.jpg



http://www.businessinsider.com/what-wall-street-protesters-are-so-angry-about-2011-10?op=1
 
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http://cnews.canoe.ca/CNEWS/World/2012/05/15/19760711-reuters.html

On Tuesday, Hollande seemed to play on criticism of Sarkozy as all-controlling and impulsive when he told guests at the handover ceremony that he would run a different presidency.

“I will set the priorities but I will not decide for everyone, on everything and everywhere,” the new president said.

Hollande turned his back and went indoors for the inaugural ceremony without waiting for Sarkozy and former first lady Carla Bruni, dressed in a plain black trouser suit and flat pumps, to walk down a long red carpet to their car, applauded by staff of the presidential office and cheering young supporters outside.

Hollande’s unmarried partner, Valerie Trierweiler, looking chic in a white mid-thigh jacket worn with an elegant black dress and high heels, outdressed the former supermodel Bruni and ensured the incoming presidential couple stole the show on glamour.

A stormy day in Paris forced the new president to change suit twice after being drenched to the skin in downpours when he rode in an open-topped car up the Champs Elysees avenue, and when he laid a wreath at a memorial to scientist Marie Curie.

Capping a bumpy start, Hollande’s plane was hit by lightning after he took off for Berlin to meet German Chancellor Angela Merkel. He was forced to turn back, land and take off again in a different aircraft.​


Hollande thanks war veterans:

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