Poorer depends on where you draw the line at considering people "rich". If you draw it at the top 5%, they are getting poorer. If you draw it at 250k per household, they are getting poorer. If you draw it a million + per year income, they are probably getting richer.
http://ntu.org/tax-basics/who-pays-income-taxes.html
Note the decline at the top 1%, starting in 2007 when it peaked.
The problem is, it's these income levels (250k+ or top 5%) that pay the BULK of the taxes.
Note also, the fact that the top 5%, starting at just 160k/yr AGI, pay almost 60% of ALL taxes. The rest 95% pay the other 40%...
I know exactly your next argument - and that will be that well, the top 5% make more money than the other 95%, but that is simply not true, they have a lower share than 60% of all income - they pay that much of the total taxes because they are taxed at much higher rates.
You discourage these to work as hard and you will hurt tax revenues like there is no tomorrow. Don't believe me? Look at UK. Losing entrepreneurs left and right.
http://www.telegraph.co.uk/news/pol...fficial-statistics-to-avoid-50p-tax-rate.html
How is it the bottom 50% pay 2% of all taxes, while the top 50% pays 98% of all taxes? Why shouldn't everyone simply pay for how much government they consume? Why do I have to carry my weight and another person's weight on my back?
That's funny, i read an article about France's rich leaving for England. I couldn't find it but here is an article about those poor suffering french rich.
I really was talking about the top 1% or even less who will be the big winners of the union busting, hey it's faux news who are leading the union busting crusade, that should tell you all you need to know.
The proposed 75 percent top tax rate, up from 48 percent, will affect around 30,000 French citizens, or 0.46 percent of the population.
If Parliament approves the budget when it comes up for review in September, France will have the world’s highest tax rate, beating the top rate for Aruba, the country with the highest top tax rate.
The move comes
a day after Spain presented its new belt-tightening budget. The French government announced plans to raise €30bn in a bid to cut the public deficit to 3 percent of GDP from the existing 4.5 percent.
Reports suggest that only one-third of the required revenue will come from spending cuts. Around €10bn will most likely be raised through fresh taxes on the rich, while another €10bn may be mopped up from the corporate sector. Existing tax exemptions are also likely to be slashed.
But while millionaire taxpayers are reportedly angry at the move, the government has softened the blow by announcing that the punishing rate will only be in effect for two years.
The government has made it clear that the middle and working classes will not be badly affected by the budget. "With constant incomes, nine out of 10 French taxpayers will not be affected by the tax increases," said the French Prime Minister Jean-Marc Ayrault, according to AFP.
According to the latest unemployment figures, France has more than three million people out of work, the country's highest figure in recent times. Its economy has been largely stagnant for the last three years.
Even the government's modest growth rate of 0.8 percent projected for the year is considered ambitious by experts.
Ayrault defended the projection, telling France 2 Television that it is realistic and within reach. "This budget is about struggle, about reconstruction. If we abandon the [3 percent] target, our interest rates will rise immediately."
http://www.ibtimes.com/france-hammer-millionaires-75-top-tax-rate-797233
uke: