Skip to main content

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.
Labels:

Comments

Post a Comment

Popular posts from this blog

Jerry Seinfeld: It's amazing that the amount of news that happens in the world every day always just exactly fits the newspaper.

Awareness is and should be an important part of life, but in the modern era, finding reliable and pertinent news information quickly, despite the myriad of sources, can be very difficult. In the 21st century , we now know there is no such thing as objective news, so the best one can do is seek for a kind of intersubjectivity that allows one to develop one's own subjectivity in the hope of fostering a kind of refined or cultivated objective perspective that appreciates from whence differing opinions came from. Marcus Aurelius said, "Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth." This intersubjectivity can only be achieved via a plethora of news sources from a diversity of backgrounds and cultures. Unfortunately, that is very time consuming. I tend to check these services as I can: CNN International BBC World Service The Week The Economist NYTimes WSJ euronews Bloomberg FT The Guardian NPR Le Monde ...
Post a Comment
Read more

Know thyself!

The spirit of this blog can be summed up thus: Know thyself! These words were inscribed in the stones of the Temple of Apollo at Delphi  and they are the essential mystery of the human experience, both as an individual and as groups, throughout time.
Post a Comment
Read more

Joseph Stiglitz on Economics

Joseph Stiglitz's recent article in Vanity Fair is an excellent analysis of the western world's  current economic problems. Stiglitz is a professor of economics at Columbia University and a Nobel prize winner . The article asserts a central tenet of modern economic theory that strikes me as elementary . That tenet is that a strong economy is based upon the spending of a robust middle class . That, historically, is what drives consumption . In America, the owners of businesses are short sighted to simply cut taxes to their own class, because their own class benefits most from a flush middle class . What they gain in the short term, they lose in the medium to long term. In addition, they condemn their businesses and the overall economy to more frequent and unnecessary boom and bust cycles in the process. The American economy is undermining its own engine of growth, consumption , in the hapless pursuit of immediate riches for the wealthiest Americans, who need the m...
Post a Comment
Read more