Wednesday, 4 May 2016

BY DINT OF TAXING THE RICH-A SPECIES ENDANGERED?




Bercy looking for the rich. In releasing its latest statistics on the 2014 tax, the Ministry of Finance finds that wealthy taxpayers are less and less numerous. Compared to 2013, the number of households reporting more than 200,000 euros of revenue decreased 8%.
And if one is limited to taxpayers earning over one million euros per year, the number has dropped more than 30%! Thus, France numbered only 93 households earning more than 9 million euros per year, against 143 the previous year.
Coincidentally, the dates correspond with the arrival of rich anti-tax measures: exceptional contribution of 3 or 4%, to 45% slice of the income tax, abolition of the tax shield, cap tax loopholes, tightening payroll and tax alignment of capital income on those of work (including the disappearance of withholding tax on interest and the integration of the tax on the capital gain in the progressive scale).

The rich taxpayer France is like the white rhino in Africa: by dint of being hunted, it is endangered. However, rhino disappears because its representatives are dying because they cannot hide behind a baobab, while the French taxpayer disappears not because it dies (tax agents are not murderers and rarely suicide because we earn too much money ...) but because, unlike the elephant, he hides. Physically or economically.
Noting that if he wins too much money, 75% will go to the state (or even 100% by adding the ISF and whatnot), the taxpayer is indeed came to not wanting to win, or more accurately not wanting to generate income.

How? Simply by not selling its business to not see capital gain by selling securities with capital losses to offset an unfortunate gain by choosing savings products rather than distribution for not cash income, by taking more risk to limit the potential gain or creating the deficit.

So we see, the game of hide and seek economic induced overflow tax is against-productive for the country: the capital stagnating, investment stops and investment choices obey short-termist criteria tax lowest bidder.

As for the physical cache-cache, it is even more dramatic because it is for the tax exile. If the current hunt witches allowed to stop tax evasion of capital, it has only encouraged tax evasion by taxpayers themselves.
While France is a tax hell, this is not a prison. Capital cannot therefore escape alone but can instead accompany their owner when it is beautiful.

And if Bercy minimizes the phenomenon by saying that over 9672 homes disappearances with incomes above 300 000
euros, only 659 are due to departures abroad, she seems to forget an essential fact: the French taxpayer is less stupid than the African rhino and begins to go abroad before his investment or his work earns him money.

In other words, in addition to 659 taxpayers, hundreds that do not gain 300 000 but the gain after a move abroad.

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