Above 1m euros, the tax rate should be 75% because it's not possible to have that level of income.From a Canadian perspective, the centre-right M. Sarkozy is far-left, and I inwardly snicker whenever someone describes le Front national as 'far-right' - they advocate a level of protectionism that would make the NDP under a Thomas Mulcair or Jack Layton blush.
But M. Hollande takes the prize. I'm too stunned by his comment to offer a witty reply.
http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9097219/50p-tax-rate-failing-to-boost-revenues.html
ReplyDeleteIt is a myth that tax cuts always pay for themselves.
It is a bigger myth that they never do. In fact it is a downright lie. If a tax increase brings in less revenue, I'll give you one guess at what a tax cut would do.