nuckles87 on 09 September 2012
| Signalstar said: I can't believe France elected a socialist. A 75% tax rate is downright insane I don't care how much money you have. Does anyone honestly think this is a good idea? Isn't this the kind of stuff France has revolutions over? |
I don't know, worked pretty well in America through the 40s, 50s, 60s, and 70s when our top marginal tax rate sat between 94-70%. In the past high marginal tax rates would merely force CEOs to reinvest and grow their own companies rather then take the money for themselves. I know my grandpa had no problems growing and maintaining his personal wealth under these kinds of tax rates.
And no, France normally has revolutions over the aristocracy enjoying opulent lifestyles and oppressing the poor and down trodden. This is just France going back to to the tax rates they had in the 50s and 60s. Their current top tax rate before this was actually the lowest it had been since the 1920s.
