France's richest man applies for Belgian nationality to avoid top 75% tax bracket

[PokerGuy]

@yllus

This is the danger of globalism. If you raise taxes, say capital gains taxes. The money just flows somewhere else. There is always some country somewhere with unsustainable tax rates for the rich to flee to, and the country is all to happy to welcome their money. So long as there is a funds inflow, they can keep their unsustainable low taxes until the rate dries up. Then they have to raise taxes, rinse and repeat.

What makes the tax rate "unsustainable"? If spending is kept within reason there is no need to jack up tax rates like France has done. Anyone in France with a significant amount of money would be stupid not to seek out a better place to go.

 

[BlahBlahYouToo]

The needs of your fellow citizens, which you are bound to provide for.

Why should I, as someone who worked hard and saved diligently, earn 25 cents on the dollar to support someone who is lazy and made a life full of bad choices?

 

[Dannar26]

Submitting to tryanny != patriotism

 

[berzerker60]

What makes the tax rate "unsustainable"? If spending is kept within reason there is no need to jack up tax rates like France has done. Anyone in France with a significant amount of money would be stupid not to seek out a better place to go.

Unless they actually like living in France and are willing to put country above self. But I guess we should ask what our country does for us, rather than what we can do for our country.

Why should I, as someone who worked hard and saved diligently, earn 25 cents on the dollar to support someone who is lazy and made a life full of bad choices?

This is just the stupidest phrasing. Yeah, government does absolutely nothing else besides "support the lazy who made a life full of bad choices." No roads, schools, police, military, food and drug safety, national parks, environmental protection, etc., etc.

Also we're not talking about you, we're talking about the tiny fraction of the country who make over $1 million, and it's only 75% on money over that $1 million, and you might consider doing it because you'll be fine without that money whereas other children in poverty will starve to death. But I guess that depends on a basic moral decency to care. At the point you're making over $1 million/year, it's not like your compensation has any meaningful relationship to how hard you work anyway - someone making $200k or $500k or $100 million/year is working just as hard (and lots making $10/hour in shitty jobs are working harder).

American marginal tax rates used to be much higher than this one, during the best economic times in the country's history even, and yet somehow we had extremely rich people who continued to work their hardest rather than moving to Mexico. Can you imagine someone continuing to work hard for reasons like pride, enjoying work, prestige, and because 25% of an extra $10 million on top of your first million taxed much less steeply is still a hell of a lot of money?!? What could they have been thinking! Damned socialists!

Didn't read thread, but based on title: Good! When will countries start looking at its residents as Citizens, and not Taxpayers

It's just possible they're considering that asking for a small (in terms of marginal value) sacrifice from the very rich to help many many very poor people IS looking after their residents at citizens.

Submitting to tryanny != patriotism

Oh gosh, our country's elected representatives made a decision I dislike for selfish reasons, it must be tyranny!!!

 

[SheHateMe]

Didn't read thread, but based on title: Good! When will countries start looking at its residents as Citizens, and not Taxpayers

When someone invents seeds to plant money trees.

 

[Incorruptible]

Why should I, as someone who worked hard and saved diligently, earn 25 cents on the dollar to support someone who is lazy and made a life full of bad choices?

Because according to idiot leftists you are greedy and evil and must share with others who dont want to work. Its the liberal way

 

[Lithium381]

if a government constantly needs MORE money, there is a problem . . . raising taxes and throwing more money at it is not a solution, it's bandaid. until the underlying problem is addressed the cycle will continue. .

 

[berzerker60]

if a government constantly needs MORE money, there is a problem . . . raising taxes and throwing more money at it is not a solution, it's bandaid. until the underlying problem is addressed the cycle will continue. .

Tax rates in the US used to be much much higher (with a good economy). Then they got lowered dramatically for the past few decades (with some good and some bad economy). Some people think they ought to be higher again. That's not the cycle of ever-increasing taxes you seem to imagine.

 

[BlahBlahYouToo]

Unless they actually like living in France and are willing to put country above self. But I guess we should ask what our country does for us, rather than what we can do for our country.



This is just the stupidest phrasing. Yeah, government does absolutely nothing else besides "support the lazy who made a life full of bad choices." No roads, schools, police, military, food and drug safety, national parks, environmental protection, etc., etc.

Also we're not talking about you, we're talking about the tiny fraction of the country who make over $1 million, and it's only 75% on money over that $1 million, and you might consider doing it because you'll be fine without that money whereas other children in poverty will starve to death. But I guess that depends on a basic moral decency to care. At the point you're making over $1 million/year, it's not like your compensation has any meaningful relationship to how hard you work anyway - someone making $200k or $500k or $100 million/year is working just as hard (and lots making $10/hour in shitty jobs are working harder).

American marginal tax rates used to be much higher than this one, during the best economic times in the country's history even, and yet somehow we had extremely rich people who continued to work their hardest rather than moving to Mexico. Can you imagine someone continuing to work hard for reasons like pride, enjoying work, prestige, and because 25% of an extra $10 million on top of your first million taxed much less steeply is still a hell of a lot of money?!? What could they have been thinking! Damned socialists!


It's just possible they're considering that asking for a small (in terms of marginal value) sacrifice from the very rich to help many many very poor people IS looking after their residents at citizens.


Oh gosh, our country's elected representatives made a decision I dislike for selfish reasons, it must be tyranny!!!

When someone is paying no taxes and someone else is being forced to pay more taxes, are they not paying for the freeloader's share and ability to use those public and social services?

I see. So when it's not me (or you), it's okay to extort their money.
And when some arbitrary threshold is met, extortion of even more money is acceptable.
Gotcha.

 

[Munky]

Good for him, and he won't be the last one to ditch the greedy bureaucrats either.

 

[Lithium381]

Tax rates in the US used to be much much higher (with a good economy). Then they got lowered dramatically for the past few decades (with some good and some bad economy). Some people think they ought to be higher again. That's not the cycle of ever-increasing taxes you seem to imagine.

can you tell me what the income brackets were to even qualify for those rates were, with inflation taken into account? it was VERY hard to hit those top rates, yet i see people say "look we used to have a 70%+ rate toO!"

 

[Fern]

http://www.lefigaro.fr/argent/2012/...ult-voudrait-obtenir-la-nationalite-belge.php

He doesnt need to get Belgian citizenship to be able to do this. He's had residences in England and Belgium for years but chooses to live in France.

Much ado about nothing.

^^This^^

I lived and worked in France, unless something changed radically he wouldn't need Belgian citizenship (or any other) to avoid French income taxes, he could simply move there. We're just about the only country that taxes based upon citizenship.

Fern

 

[Exterous]

it's only 75%

You and I have a very different opinion of 'only'.

 

[Svnla]

Why should I, as someone who worked hard and saved diligently, earn 25 cents on the dollar to support someone who is lazy and made a life full of bad choices?

Because "spreading the wealth" is good for you and others like you. Those poor folks that are making (present time) full of bad choices = are not their fault, must be someone else. <sarcastic>

I read somewhere that even if you take all of the money, every penny, from the 1%, it will only cover the government expenses for less than 1 month. Feel free to correct my number.

 

[blackangst1]

Because "spreading the wealth" is good for you and others like you. Those poor folks that are making (present time) full of bad choices = are not their fault, must be someone else. <sarcastic>

I read somewhere that even if you take all of the money, every penny, from the 1%, it will only cover the government expenses for less than 1 month. Feel free to correct my number.

They arent poor because theyve made bad choices. Theyre poor because Bush created a false economy of wealth for the 1%, started a war on lies, and caused wealth to be pooled into the top 1% at the expense of middle and lower incomes, which also made jobs not pay a living wage.

(did I hit all the key words there?)

</sarcasm>

 

[Orignal Earl]

Arnault has also given the story extra legs by suing the left-wing newspaper Libération for its cheeky headline, &#8220;Get lost, you rich bastard.&#8221; Here&#8217;s the offending front page.

lol
con = wise and beautiful woman

This probably had something to do with Sarkozy saying " Get lost you poor bastard*

 

[Svnla]

They arent poor because theyve made bad choices. Theyre poor because Bush created a false economy of wealth for the 1%, started a war on lies, and caused wealth to be pooled into the top 1% at the expense of middle and lower incomes, which also made jobs not pay a living wage.

(did I hit all the key words there?)

</sarcasm>

Right, like how Bush MADE them shot each other at gang wars? Like how Bush MADE them not to go to school and do their best? Like how Bush MADE them to knock up bitches and hoes <their own bragging words> and ran away from responsibility with their own kids? Like how Bush MADE them to rob liquor stores and then went to prison and when they got out, Bush MADE them to repeat the circle again? Like how Bush MADE them to use crack and other illegal drugs? Like how............<echoing>

Do you want me to go on with the blame game or do you want to take it from here? 😀

 

[blackangst1]

Right, like how Bush MADE them shot each other at gang wars? Like how Bush MADE them not to go to school and do their best? Like how Bush MADE them to knock up bitches and hoes <their own bragging words> and ran away from responsibility with their own kids? Like how Bush MADE them to rob liquor stores and then went to prison and when they got out, Bush MADE them to repeat the circle again? Like how Bush MADE them to use crack and other illegal drugs? Like how............<echoing>

Do you want me to go on with the blame game or do you want to take it from here? 😀

No, just blame Bush. Its easier 😛

 

[emperus]

Right, like how Bush MADE them shot each other at gang wars? Like how Bush MADE them not to go to school and do their best? Like how Bush MADE them to knock up bitches and hoes <their own bragging words> and ran away from responsibility with their own kids? Like how Bush MADE them to rob liquor stores and then went to prison and when they got out, Bush MADE them to repeat the circle again? Like how Bush MADE them to use crack? Like how............<echoing>

Do you want me to go on with the blame game? 😀

I'm amazed at how a post about taxes in France turns into a topic about poor minorities in the US (I'm assuming your sterotypical reference to bitches and hoes were to poor minorities and not poor whites). Maybe I'm not amazed seeing the lack of grammar in your post.

 

[BlahBlahYouToo]

I'm amazed at how a post about taxes in France turns into a topic about poor minorities in the US (I'm assuming your sterotypical reference to bitches and hoes were to poor minorities and not poor whites). Maybe I'm not amazed seeing the lack of grammar in your post.

i don't see any mention of minorities anywhere in his post.
your racist colors are showing.

 

[blackangst1]

I'm amazed at how a post about taxes in France turns into a topic about poor minorities in the US (I'm assuming your sterotypical reference to bitches and hoes were to poor minorities and not poor whites). Maybe I'm not amazed seeing the lack of grammar in your post.

404 minorities not found. Projection much?

See what happens when you assume?

 

[werepossum]

You and I have a very different opinion of 'only'.

This is the "mind" of a progressive, and to a large extent it's why government is deadlocked. When someone feels that taking three dollars for each one they leave the earner is "only", there's not much point in looking for compromise. Either you believe one has a right to the fruits of one's labors, or you believe that all money (and by extension, all people) belongs to government to be fairly and equitably divided. The two beliefs have almost no common ground.

 

[Svnla]

I'm amazed at how a post about taxes in France turns into a topic about poor minorities in the US (I'm assuming your sterotypical reference to bitches and hoes were to poor minorities and not poor whites). Maybe I'm not amazed seeing the lack of grammar in your post.

Geez, I did not know that bitches and hoes are not used by rich whites and non poor minorities. I have been living in the southern part of the US for the last 20 years, I surely never hear/see that ...NOT.....Thanks for the tip <chuckle>

Do you have anything to dispute my post about blaming on Bush? Or all else fail...pull the "but ..but ..but your grammar is so bad" card? 😀 whhhhaaaaaaaaaaaa.....whhhhhaaaaaaaaaa.

No, just blame Bush. Its easier 😛

Yup. It is much easier to blame others on your own shortcomings/self inflicted wounds than work hard and fix those problems.

 

[berzerker60]

When someone is paying no taxes and someone else is being forced to pay more taxes, are they not paying for the freeloader's share and ability to use those public and social services?

I see. So when it's not me (or you), it's okay to extort their money.
And when some arbitrary threshold is met, extortion of even more money is acceptable.
Gotcha.

No, because 1) there's literally no one (other than kids, maybe) who doesn't pay taxes, just not everyone pays federal income taxes, and 2) the rich have, by definition, enjoyed much more benefit from society's goods, such as educated employees, roads for businesses, and police to stop the poor from taking the massive wealth, than the poor have who don't pay federal income tax.

The "it's not you we're talking about" line was to point out that we're not talking about ordinary Joes paying for their neighbor to hang around the house, we're talking about those whose wealth exceeds the ability to spend in a lifetime sacrificing an extra amount for those who are struggling to feed themselves. "Extort their money" is a dumb way to put it, taxes are the price of civilization and as Republicans are so fond of pointing out, they're free (and unlike those without the wealth to travel internationally, they're unusually able) to leave if they don't value what the country has to offer. They're just being unpatriotic and selfish if they do.

can you tell me what the income brackets were to even qualify for those rates were, with inflation taken into account? it was VERY hard to hit those top rates, yet i see people say "look we used to have a 70%+ rate toO!"

Inflation-adjusted tax brackets in US history: http://taxfoundation.org/article/us...-2011-nominal-and-inflation-adjusted-brackets
From 1950-1963, the top marginal rate was over 90%. This rate for was $1.3million up in 1950, $1.1million in 1960, $1 million in 1960. Remember, those are adjust for inflation - actual numbers at the time were of course much lower.

And yet there were millionaires and they continued to work hard and live in America! People continued to invest despite a much higher capital gains tax! Isn't history grand.

You and I have a very different opinion of 'only'.

It's the top marginal rate, and it's much lower than America's top marginal rate used to be.

This is the "mind" of a progressive, and to a large extent it's why government is deadlocked. When someone feels that taking three dollars for each one they leave the earner is "only", there's not much point in looking for compromise. Either you believe one has a right to the fruits of one's labors, or you believe that all money (and by extension, all people) belongs to government to be fairly and equitably divided. The two beliefs have almost no common ground.

This is a dumb false dilemma. Among other thing, at the point you're making $1 million/year, do you seriously think it takes working twice as hard to make $2 million, that someone making $10 million/year is 10 times as valuable as the first guy and more hard working and more valuable than hundreds of coal miners and teachers put together? Fine, let the person continue to make absurd amounts of money, but let's not pretend like it's merit and hard work that earns him THAT level of compensation, and let's not pretend like he's done it all on his own. Once he's reached the point of income where he can't possibly need more money for necessities or even significant quality of life improvements, continue to let him earn more but have proportionately more of it go back to the teachers and firefighters who keep his empire thriving and safe. "That all money (and by extension, all people) belongs to government to be fairly and equitably divided" is a ridiculous strawman that nobody argues for or believes.

 

[Hayabusa Rider]

Looks like this is working just as expected.