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AIBU?

to be glad that Hollande has finally introduced his 75% income tax rate?

131 replies

longfingernails · 30/12/2013 22:11

Now even more of the best and brightest French people will be driven away, and London is a natural destination for them. Also we are able to see what a disaster Red Ed style socialism is, without having to experience it ourselves.

An arithmetical note for our French friends: 75% of 0 is 0.

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Report

whois · 30/12/2013 22:20

What income level does it kick in at? If I was being taxed at 75% I would not feel like bothering. 40% feels like enough if a kick in the teeth.

RedPencils · 30/12/2013 22:22

Bloody hell. Would I get my own personal doctor and gold played roads?

lunar1 · 30/12/2013 22:23

Why would anyone stay in a country that taxed at that level? If you earn enough to meet the criteria then you can afford to leave!

MyBachisworsethanmybite · 30/12/2013 22:23

Why wouldn't they go to Belgium: Francophone country...

Nancy66 · 30/12/2013 22:25

it kicks in at 1million euro. So about £830k

It's ridiculous. The wealthy should pay more but nobody is going to want to forfeit three quarters of their income.

DoYouLikeMyBaubles · 30/12/2013 22:27

Jesus! That's ridiculous. I just wouldn't want to bother.

LaurieFairyCake · 30/12/2013 22:27

It's not three quarters of their income though

They get to keep almost a million first and are then taxed above that

longfingernails · 30/12/2013 22:29

Many do go to Belgium. Bernard Arnault, who used to be France's richest man (boss of Louis Vuitton?) applied for Belgian citizenship I think - though maybe he didn't go in the end?

Anyway, the billionaires, actors and footballers get in the news when they leave. But most of the rest of the rich don't - and between them they create millions of jobs.

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ImagineJL · 30/12/2013 22:29

Presumably it's not 75% of their total income, but 75% of their income above 1 million euro?

Nancy66 · 30/12/2013 22:29

Laurie, yes you're right. I think it's a retrospective tax though so high earners will have to pay for the previous tax year as well as the next one.

it's still too high though. People will just leave

lunar1 · 30/12/2013 22:32

It's sad to think of all the people who will lose their jobs when they go.

Liara · 30/12/2013 22:33

Actually they've made it so that the companies have to pay rather than the individuals.

But yes, Hollande is taking the piss and people are and will be leaving.

This is just the headline grabbing one to make everyone else feel better about the million and one ways in which non-rich people's taxes are going up as well.

longfingernails · 30/12/2013 22:36

lunar1 True, but it's France's own fault; they voted for socialism. I am sorry when anyone has to lose their job, but frankly, overall I'm quite happy that it's happened. Britain will benefit from it.

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whois · 30/12/2013 22:36

Ok so above €1m so won't affect loads of people, but still it will affect the very people you desperately want to keep in the country! The people who create jobs, and wealth, and exports etc

LaurieFairyCake · 30/12/2013 22:37

I don't agree.

I can't think of any job or any life where a million isn't enough and where I can't pay above that back.

And I certainly can't imagine leaving my country because of it.

I disagree with people earning that much fundamentally - any move (and I think this one is fairly pointless) to address high salaries in favour of dividing wealth a bit more fairly is fine.

There is no job that deserves that money. None.

Bankers and hedge fund managers are gamblers. They're not real fucking jobs - they just exist to increase wealth amongst the rich and create divisions.

I don't ask 'what would Jesus do' here but instead 'what would Bill Gates do' - and he's trying to give all his money away because he said he had enough a long time ago.

No one needs that much. And the gap between rich and poor is shockingly divisive.

longfingernails · 30/12/2013 22:40

LaurieFairyCake Good luck convincing those earning over a million with that argument, especially if they have worked themselves up from nothing.

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CinnabarRed · 30/12/2013 22:41

Gerard Depardieu has been given Russian citizenship, and is open that the move to Russia is tax motivated.

David Beckham gave away all of his French football salary to charity, and was then pilloried in the French press for "avoiding tax" - which was very harsh given that he had genuinely given it away (and not retained some dodgy beneficial interest).

LaurieFairyCake · 30/12/2013 22:43

I know we don't agree with each other long, we've discussed this before - I know you're a Tory, you know I'm liberal left

Nurses can work their way up from nothing too. Not just people who earn a million.

DizzyZebra · 30/12/2013 22:44

What Laurie said.

LaurieFairyCake · 30/12/2013 22:49

Phil Collins
Paul Daniels
U2

The first 2 threatened to leave if Labour got into power in the 90's

Who gives a fuck?

What a fucking great loss they would be

I'm sure France has some cunts like that too, they can't all be British

longfingernails · 30/12/2013 22:51

I'm not a Tory. I'm a conservative. Small c.

Nurses are vital to any country. So what? That doesn't change the argument one bit.

Imagine for simplicity someone was previously earning 5 million euros a year. The previous tax rate was 41% (let's ignoring all the 'stealth' taxes in France) so they paid about 2 million in income tax. Now (whether it is paid by the company, or whatever) they will have to pay about 3.5 million euros in taxes. They decide that it's worth migrating to Britain if it saves them 1.5 million euros a year, and are not particularly moved by you calling them greedy bastards. Now France gets 2 million euros less in tax a year. The nurse has to pay more tax to make up the shortfall. It's quite simple really...

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LaurieFairyCake · 30/12/2013 22:51

Oh fuck - I forgot Philip 'I've put all my money in my wife's name' Green - of course she lives in Monaco

What a pile of steaming shit.

How the fuck do we let them get away with this shit?

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JollySantersSelectionBox · 30/12/2013 22:54

Err Phil Collins did leave. His address is now Geneva.

I don't think the rich French will be piling into London to lose half their income when they can nip a few hundred km to Switzerland and pay 8% income tax, or Luxembourg for 30%.

LaurieFairyCake · 30/12/2013 22:54

You voted Tory, you told me you did.

Apologies if that doesn't make you an actual Tory

And your argument is daft :

No one will leave
The only direct impact would be if the company leaves - again unlikely, though the Uk are trying to tempt french banks/companies - French banks/ companies will NOT leave France

kmc1111 · 30/12/2013 22:55

A few people will leave, most won't. The sort of people who were likely to leave already did when they first started making big money, they're already residents of Monaco and the like.

I've lived in countries with extremely high tax rates and extremely low tax rates. I'd much rather live in a country where I was being taxed to high heaven than a country where it's basically survival of the fittest.

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