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For Firefox users, there is media bias / propaganda / fact check plugin.
https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/
- Consider including the article’s mediabiasfactcheck.com/ link
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Does no one here understand how incone taxes work? The 90% rate is on annual income over €400,000. Average annual income in France was €41,000.
I think the guy you're responding to is more talking about the distinction between income and capital gains, with income making up far less of the wealthy's worth than existing investments.
But yes, a lot of people also have no concept of how tax brackets work.
Right. Someone with a networth of many millions may only have a yearly income of $100k. Sometimes far less. Different tax systems can also have different definitions of income. Is inheritance income? Are growth stocks that you haven't cashed in yet income? Are stock dividends income? You can answer yes or no to any of these, but however you answer, you can still structure the tax system around those answers to come to an equitable arrangement.
The end result is that basically no one will be subject to this tax bracket.
It is high enough that everyone at that level will mainly get their real income from stock/loan which aren't salaries.
Having this tax bracket or not having it is, basically the same for the super wealthy. The real method to tax them is through capital tax, not income.