Bernard Arnault, France’s richest man, seeks Belgian citizenship | euronews, world news

Bernard Arnault, France’s richest man, seeks Belgian citizenship | euronews, world news

Personal take on this: Can you really blame him? 75% is too much. I favour progressive taxation, but no one ever should have to give up more than 50% of their income in taxes. It is counterproductive and prejudicial to an economy focused on sustainable growth which is the healthy ideal of a vibrant capitalist society. To date, no economic model has ever seriously challenged capitalism's ability to encourage freedom and prosperity. In practical, factual and historical terms that statement is virtually unassailable. Ideally, taxation should not exceed 20% to 40% of income per year, depending on the stage of development that a state finds itself in. That's the 'sweet spot'. This rate of taxation would be ideally implemented via a VAT structure that is crafted to garner the respective target rate of taxation. This predictable stability would create a healthy economic environment for investors, wherever implemented. Times of crisis should be able to trigger a maximum 50% rate, but the rate should never go above 50%, as it creates a disincentive for work and discourages the most productive members of a society.