Court Uphold’s France’s 75% "Millionaires’ Tax".
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Court Uphold’s France’s 75% "Millionaires’ Tax".
Will levy companies on incomes exceeding $1.38 million
Way too extreme. You'll never see anything like that in America!
Way too extreme. You'll never see anything like that in America!
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You mean return to that in America? Our marginal income tax rates were much higher sometime ago for income tax anyway. Now what they actually paid after all deductions, etc were applied... eh... not a tax law expert. Frances might be tougher and its targeting the companies it seems. I have had a few drinks so I may not have read that right.. anyway... yeah that would suck for those making that much.
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Small business owners dumb enough not to incorporate already have ~1/2 their money taken. Go to New York City and it's more like 2/3. Federal taxes aren't the only ones that bite a wallet.
The fun part about the millionaire tax in France is that Germany etc. are all right next door with completely different tax structures. A millionare can up and move, which is why this sort of thing ALWAYS results in lower tax revenues!
The fun part about the millionaire tax in France is that Germany etc. are all right next door with completely different tax structures. A millionare can up and move, which is why this sort of thing ALWAYS results in lower tax revenues!