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

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The United States of America circa 1950-1963 didn't think a 90% top marginal tax rate was ridiculous, and the economy thrived during that period. Capital gains taxes were also much higher, yet somehow the economy didn't collapse and Randian fantasies didn't come true.
 
Svnla said:
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>
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Your not talking about black people here?


Yup. It is much easier to blame others on your own shortcomings/self inflicted wounds than work hard and fix those problems.
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LOL
If you all followed your advice there would be no P&N
 
waterjug said:
Honestly, why wouldn't he do this (and anyone in this situation). You don't get wealthy on accident, even if you inherit it you have to be smart to keep it. So you have two options

A) Continue on as before, lose 75% of what you make from here forward
B) Continue on as before, with different citizenship, lose, 30 or 40% to taxes going forward. Why on Earth would ANYONE with that much money to lose choose option A?
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A. Family
B. Patriotism
C. Civic Responsibility
D. Because they're not greedy assholes.
 
berzerker60 said:
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.


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.


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



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.
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Ya know, bringing up earlier US tax rates is a moot point. Rarely was that rate paid. Youre making a case people paid those high amounts and still prospered.

BTW. This 75% income tax isnt the first of France's attempt to get money from the rich. More than a decade ago France initiated a wealth tax. Again, beware unintended consequences.

Sunday, July 16, 2006

 On average, at least one millionaire leaves France every day to take up residence in more wealth-friendly nations, according to a government study.

The wealth tax -- officially called the solidarity tax -- is collected on top of income, capital gains, inheritance and social security taxes. It's part of the reason France consistently ranks at the top of Forbes magazine's annual Tax Misery Index -- a global listing of the most heavily taxed nations.

"This tendency to take from the rich and give to the poor which is supposed to solve all the problems in France is ruining the country," said Alain Marchand, who left France six years ago and now has a London-based consulting business that helps relocate French business leaders and entrepreneurs in England and other countries. "That's an incredibly stupid and narrow-minded vision of economic life."



Eric Pinchet, author of a French tax guide, estimates the wealth tax earns the government about $2.6 billion a year but has cost the country more than $125 billion in capital flight since 1998.
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Ldir said:
Not when it's about money. Money is more important than anything else. For greedy bastards with no morals.
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Democrats talk more about money than anybody. How they don't have enough. How other people have too much. How much more they need to be paid. Sounds like it's more important to them than anything else. Guess that makes Democrats greedy bastards with no morals?
 
Bastard, he didn't mind France when he was making the billions.
You can't make such fortune in 3rd world, socialist or communist countries. Thus France enabled him become this insanely rich.
 
postmortemIA said:
Bastard, he didn't mind France when he was making the billions.
You can't make such fortune in 3rd world, socialist or communist countries. Thus France enabled him become this insanely rich.
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Apparently you aren't allowed to make that much in capitalist countries now either...
 
Orignal Earl said:
Why are you posting a bunch of news stories about white people holding up liquor stores?
Do you think with your posting history, your going to convince me that you weren't talking about black people in your post?
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Since when robbing liquor stores, bitches and hoes = automatically talking about blacks/poor minorities per you and emperus? 😀

More than one poster said that they did not see my previous post mentioned anything about race. You guys need to stop ASSumption.

I don't have to or need to or want to convince you or anyone about anything. I did not quote you, you quoted me. I spoke the truth.

I stand by my statements. The truth hurts, eh?

As I told another poster in another thread, quote my exactly words in my previous that mentioned anything about race/color. Quote them exact words or STFU, really.
 
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Svnla said:
Since when robbing liquor stores, bitches and hoes = automatically talking about blacks/poor minorities per you and emperus? 😀

More than one poster said that they did not see my previous post mentioned anything about race. You guys need to stop ASSumption.

I don't have to or need to or want to convince you or anyone about anything. I did not quote you, you quoted me. I spoke the truth.

I stand by my statements. The truth hurts, eh?

As I told another poster in another thread, quote my exactly words in my previous that mentioned anything about race/color. Quote them exact words or STFU, really.
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All your showing me is your a liar
Tiny, little, balless, liar
 
Orignal Earl said:
All your showing me is your a liar
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You are a slow learner so I will try it again.
Quote them exact words or STFU, really.
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Pathetic attempt to insult. Can't debate with facts and quotes, pull out the insult card. I know my post bother you, that's why you quoted me and try to stir up trouble. It ain't working. You need to try harder than that.
 
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Svnla said:
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>

😀
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I quoted it again
You still are lying when you say you weren't referring to black people
 
As I told another poster in another thread, quote my exactly words in my previous that mentioned anything about race/color. Quote them exact words or STFU, really.
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Still no bite? What is the matter? Put up or shut up. I am from the old school.

Hey mods, is this thread derailing/crapping and banable offense or what?
 
Svnla said:
Still no bite? What is the matter? Put up or shut up. I am from the old school.

Hey mods, is this thread derailing/crapping and banable offense or what?
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lol
He wants me banned for his thread derailing/crapping
I do believe this started with emp asking why you are bringing up American black people in a topic about France

Here, I did the search...http://forums.anandtech.com/search.php?searchid=552986
You can go through the thousands of your racist posts
 
Orignal Earl said:
lol
He wants me banned for his thread derailing/crapping
I do believe this started with emp asking why you are bringing up American black people in a topic about France

Here, I did the search...http://forums.anandtech.com/search.php?searchid=552986
You can go through the thousands of your racist posts
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Nice try to spin.

Again, I will do it slowly for you. Point out in my post #42 in this thread that I said anything about color or race. Point it out. You still can not, therefore, you are trolling, and that's banable offense.
 
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Svnla said:
Nice try to spin.

Again, I will do it slowly for you. Point out in my post #42 in this thread that I said anything about color or race. Point it out. You still can not, therefore, you are trolling, and that's banable offense.
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I feel ashamed for you
 
Orignal Earl said:
I feel ashamed for you
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LOL, are you for real?

No one is asking you how you feel about my post(s). Do you get it? NO ONE.

You quoted me, therefore, I replied. You don't quote me, I don't even care if you exist or not.

Still can't point out anything in my post #42? Yup, therefore, you are a TROLL. A bad one at that.

Until you can point out anything new, I have no use for you. Now go somewhere and troll someone else, troll.

Now back to our regular scheduled programming.
 
So the socialist idiots jack up the tax rates in an effort to punish those greedy evil rich folk. This rich guy then decides he doesn't need to put up with that crap and moves. Lefty idiots whine and get all indignant because the guy makes the logical choice based on their idiot policies. Color me surprised 😉
 
berzerker60 said:
It's the top marginal rate, and it's much lower than America's top marginal rate used to be.
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And that somehow negates my opinion on how the word 'only' was used? I don't think so. I'm sorry but if someone comes to me and tells me they are only taking 75% of something I have I am going to debate their use of only. I don't care if they try to tell me 'But we've done it to other people in the past!' or 'Hey - be happy it wasn't more' the word only is still an idiotic word to use.
 
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