Was it right to fix tax rate of 75% on the income of individuals in France?
Debate Rounds (3)
First of all, as we know the richest people of France signed in the letter where they agreed to pay more taxes than they have now (as we know in France there is already high tax rate for rich people over 40%). And what was the answer of the President? Of course, after such kind of announcement all these people, who signed, were confused, because it is too high than they expected. After this situation all highest earners of France were planning simply to run away(leave the country). For example:
"One Paris law firm says it has been inundated with calls from wealthy businessmen asking if they should leave France if the socialist President Francois goes ahead with his promise to introduce a 75 per cent tax rate on income above one million euros.
Vincent Grandil, partner of Altexis, which specializes in tax law, admitted his company has been receiving concerned calls from high earners since the French President's tax announcement.
He told the New York Times: 'We're getting a lot of calls from high earners who are asking whether they should get out of France".
Of course, after such kind of announcement about tax rate every citizens of France, who earns money more than 1 million per year or has plan to make a business, without doubt, wanted to leave the country, because there is no reasons to earn money, if government takes it in such amount. There is right example for my argument: "Last week, Pierre Chappaz, a French entrepreneur, wrote online, "I do not know a single start-up founder who accept the idea that creating a company, in which it will invest all his savings and years of effort often without a salary, must then give to the State 60.5 percent of gain when he sells his company if he succeeds." The statement went viral. An online group calling itself Les Pigeons " slang for sucker " has more than 63,000 "likes" on its Facebook page". And this is true.
If this tax policy was accepted, it would influenced the investment, which has important role in France economy and in other countries too, and capital gains what is more negatively, after what it would be reflected on the economy certainly.
Second or I can say last argument (it is small, but suitable) is that the tax would affect around 30,000 workers out of the country's population of 65million, that`s why the purpose of the tax is more populist than mathematical: the marginal income tax increase is estimated to raise only about $300 million. And this sum would change nothing in the difficult situation of France.
I think there is clear that with this tax policy France could lose more than get.
joshieod forfeited this round.
Anara forfeited this round.
joshieod forfeited this round.
No votes have been placed for this debate.
You are not eligible to vote on this debate
This debate has been configured to only allow voters who meet the requirements set by the debaters. This debate either has an Elo score requirement or is to be voted on by a select panel of judges.