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.

Comments

Popular posts from this blog

Tyrion is a (P)IMP

Thank you to Being a Geek for sharing. Game of Thrones is fantastic. If you haven't read the books , read them. In the world of fantasy  literature, there have been a lot of average writers, but three great writers stand as colossi . In my view, they have defined the genre: J.R.R. Tolkien's The Lord of the Rings and the mythology it spawned. Robert Jordan's The Wheel of Time and the mythology it spawned. George R.R. Martin's A Song of Ice and Fire and the mythology it spawned. And if you haven't seen the HBO show yet, then get on it. The show is approaching the end of Season 2. Season 1 was fantastic. Season 3 should be amazing as the show's popularity has amped up HBO's spending. It's available via HBO On Demand  or catch it on HBO on Sunday evenings. Another HBO show that is amazing is Boardwalk Empire , be sure to check that out. It's about Prohibition and features Al Capone as one of the characters.

Nancy Pelosi on Joe Biden, Tim Walz and Donald Trump

The History of Europe: Every Year