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"No they're "fleeing" because of a 70% upper marginal tax bracket on person income" Not quite true. "Beyond 500 000 euros in yearly revenue, the maximum tax r
by yodsanklai 13y ago
"No they're "fleeing" because of a 70% upper marginal tax bracket on person income"
Not quite true.
"Beyond 500 000 euros in yearly revenue, the maximum tax rate on the revenue is 49 %. The 75 % tax bracket was censored by the Conseil constitutionnel, and is now paid by the companies." [1]
"And I question how many have actually left".
Apparently, it's no so clear.
"The idea that France is experiencing a massive tax exile is widespread in some political circles and sometimes covered in the press, but there are absolutely no tangible proof that such an exile is happening." [1]
[1] - http://decodeurs.blog.lemonde.fr/2014/01/06/the-fall-of-newsweek-french-bashing-gone-wrong/ http://decodeurs.blog.lemonde.fr/2014/01/06/the-fall-of-news...
- marvin 13y agoI don't get this. If the 75% tax is paid by companies rather than individuals, won't the individuals who own these companies still effectively be taxed at this rate? A $1 million tax is a $1 million tax regardlss of whether it is applied when the money hits the company' bottom line or when it hits the owners' bank accounts.
- yodsanklai 13y agoMy understanding is this particular tax on high salaries is paid by the employer. Suppose you pay an employee more than 1 million euro yearly, you'll have to pay about 75% tax for everything over 1 million euros. Apparently, this only for 2013 and 2014 and it concerns about 1000 employees, including something like 100 soccer players.