Will Smith Reacts to France's Proposed 75% Tax Rate

seabird

nonosHopefully, such a tax rate would be deemed confiscatory, hence unconstitutional... scary, though

Then why wouldn't it have been brought to the scotus when it was at 70-94% ranges in the 1920's-60's?

Because France's Constitutional Court re-asserted in 2005 that the income tax must be for the "common good" and be "fairly supported by the taxpayers, owing to their respective financial capacities". The translation is approximate (wording is not very accurate). Therefore, asking one particular category of people to bear a 75% tax rate will probably be seen as excessive - especially given the low expected marginal benefits for the state.

seabird

nonosHopefully, such a tax rate would be deemed confiscatory, hence unconstitutional... scary, though

Then why wouldn't it have been brought to the scotus when it was at 70-94% ranges in the 1920's-60's?

I'd argue that during that period of time the rich had the bulk of their capital in offshore accounts and bank secrecy was stronger than it is now. Technology and stupidly changed that so who knows what the future holds.

seabird

nonosHopefully, such a tax rate would be deemed confiscatory, hence unconstitutional... scary, though

Then why wouldn't it have been brought to the scotus when it was at 70-94% ranges in the 1920's-60's?

No one paid that level of taxes. People had multiple deductions they could use.

When measured, the real rate for a middle class family was around 20% if not less.