Will Smith baffled by proposed French tax increase: ‘God bless America’

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    Will Smith baffled by proposed French tax increase: ‘God bless America’



    During an interview this week with a French TV station, actor Will Smith said he supported the idea of paying higher taxes—but he was shocked when the reporter told him about a proposal from France's new president to raise the marginal tax rate to 75 percent.

    "I have no issue with paying taxes and whatever needs to be done for my country to grow. I believe very firmly that my ability to sit here—I'm a black man who didn't go to college, yet I get to travel around the world and sell my movies, and I believe very firmly that America is the only place on Earth that I could exist," Smith said. "So I will pay anything that I need to pay to keep my country growing."

    That's when the interviewer mentioned that France could have a 75 percent tax rate on income over 1 million euros.

    "Seventy-five?" Smith gasped. "Yeah, that's different, that's different. Yeah, 75. Well, you know, God bless America."

    Smith was in Europe to promote his new movie, "Men in Black III."


    Will Smith baffled by proposed French tax increase:

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    When I heard that they were proposing a 75% tax rate in France I had the same emotional response as Will. I think that's just retardely high and will only be counter productive to what they want to achieve. Hell in Canada the top Federal Tax bracket pays 29%, and my province pays the lowest provincial income tax rate of 10% (some go up to 21%). So right there I'm losing out on 39% of my income. My province is also one with the lowest taxes, we have no Provincial sales tax while others have some with rates at 10%. All Canadians pay a 5% Goods and Service tax. So right there alone without adding in any other taxes, EI contributions, or CPP contributions, I'm losing out on 44% of my pay check. I could never imagine what it'd feel like to lose out on 75% right at the beginning and still more later on.

    http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

    http://en.wikipedia.org/wiki/Sales_taxes_in_Canada

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    the US had those kinds of tax rates post WWII. then they were slowly decreased to the level they are at today, the other country's in the EU did not follow the US pattern so the wealthy in those country's have not accumulated like the top in the US. who would like to see wealth created like back in the 1800's which would/will occur with the removal of all taxes on capital. the top rats in France right now I think are over 55%

    when your income is obscene even after getting taxed like that there is still more monies left than can be used productively and plenty saved and invested.

    the top 400 earners in the US have more combined income than the lower 160M of wager earners.

    real GDP growth of the US is the same as the high tax "socialist" country's in the EU minus the frequent recessions
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    Post WW2, as stated above, the revenue act of 1945 LOWERED the maximum tax rate from 94% to 86.45%.

    Tax Legislation | Tax Legislation 1940 - 1949

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    Quote Originally Posted by LAM View Post
    the US had those kinds of tax rates post WWII. then they were slowly decreased to the level they are at today, the other country's in the EU did not follow the US pattern so the wealthy in those country's have not accumulated like the top in the US. who would like to see wealth created like back in the 1800's which would/will occur with the removal of all taxes on capital. the top rats in France right now I think are over 55%

    when your income is obscene even after getting taxed like that there is still more monies left than can be used productively and plenty saved and invested.

    the top 400 earners in the US have more combined income than the lower 160M of wager earners.

    real GDP growth of the US is the same as the high tax "socialist" country's in the EU minus the frequent recessions
    Yah but if you just break the 1million mark and you have to lose that much, that's a major kick in the balls. Maybe this super high tax can be applied to those top 400 people but for the people on the lower end that's a lot to lose.

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    the problem is that those that make that kind money don't really "earn" it so it spends easily. even in my best year i never came close to 7 figures w/o having sold a property etc. but I had some buddies in the mortgage business back during the boom that were pulling in 100K a month and those guys had no money in the bank, ever..

    when you are cheap those monies accumulate rapidly but those that over-spend can't make enough...I lot of people have "issues" and consumption makes them feel better about themselves, etc...false self-esteem I guess
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

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    During an interview this week with a French TV station, actor Will Smith said he supported the idea of paying higher taxes—but he was shocked when the reporter told him about a proposal from France's new president to raise the marginal tax rate to 75 percent.

    "I have no issue with paying taxes and whatever needs to be done for my country to grow. I believe very firmly that my ability to sit here—I'm a black man who didn't go to college, yet I get to travel around the world and sell my movies, and I believe very firmly that America is the only place on Earth that I could exist," Smith said. "So I will pay anything that I need to pay to keep my country growing."

    That's when the interviewer mentioned that France could have a 75 percent tax rate on income over 1 million euros.

    "Seventy-five?" Smith gasped. "Yeah, that's different, that's different. Yeah, 75. Well, you know, God bless America."

    Smith was in Europe to promote his new movie, "Men in Black III."
    What is sad about his ignorance and stupidity - and the American population's ignorance and studipidity - is that the PROBLEM IS:

    Irresponsible, reckless, over-spending.

    Taxes have nothing to do with it. It's about the spending.

    And for those that pay more taxes now - regardless of your bracket - your tax money will be wasted.

    Gov spending WILL explode because of medicare.
    It's an accurate statement that our current spending will not be increasing the debt We've stopped spending money that we don't have.

    -- Jack Lew, then director of the Office of Management and Budget, in Feb. 16, 2011 testimony before the Senate Budget Committee.

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