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taft2012
05-19-2013, 06:54 AM
http://www.reuters.com/article/2013/05/18/us-france-tax-idUSBRE94H0AX20130518


(Reuters) - More than 8,000 French households' tax bills topped 100 percent of their income last year, the business (http://www.reuters.com/finance?lc=int_mb_1001) newspaper Les Echos reported on Saturday, citing Finance Ministry data.


The newspaper said that the exceptionally high level of taxation was due to a one-off levy last year on 2011 incomes for households with assets of more than 1.3 million euros ($1.67 million).


President Francois Hollande's Socialist government imposed the tax surcharge last year, shortly after taking office, to offset the impact of a rebate scheme created by its conservative predecessor to cap an individual's overall taxation at 50 percent of income.

Gotta love the language.

The conservatives had a "scheme" to cap taxes at 50%, but the socialists had an "offset" to be able to tax in excess of 100%.

taft2012
05-19-2013, 08:56 AM
What's alarming about this is that the French used "household assets" to calculate income taxes due.

This is truly how to tax "the wealthy," taxing wealth instead of income. And we know that's what Obama's real desire is.

So, you own your home? You have savings? You own some stocks? You have a 401K?

Maybe you too can wind up paying 100% of your annual income to the government.

tailfins
05-19-2013, 10:26 AM
What's alarming about this is that the French used "household assets" to calculate income taxes due.

This is truly how to tax "the wealthy," taxing wealth instead of income. And we know that's what Obama's real desire is.

So, you own your home? You have savings? You own some stocks? You have a 401K?

Maybe you too can wind up paying 100% of your annual income to the government.

"Be thankful I don't take it all, 'cause I'm the TAXMAN"


http://www.youtube.com/watch?v=Oyu5sFzWLk8

BillyBob
05-19-2013, 10:50 AM
Income Tax = slavery.

Tyr-Ziu Saxnot
05-19-2013, 11:19 AM
http://www.reuters.com/article/2013/05/18/us-france-tax-idUSBRE94H0AX20130518



Gotta love the language.

The conservatives had a "scheme" to cap taxes at 50%, but the socialists had an "offset" to be able to tax in excess of 100%.

Of course anything under a 100% is just a damn scheme. A clear example of how the socialists want to govern. Slay the golden goose so that there becomes equal misery for all. However there are always those select few that manage to avoid being equally miserable = hint-- they work for the wonderful government that enforces the rules.... -Tyr