Next time you lot want to complain about taxes

[rainman]

http://www.radionz.co.nz/news/world/118709/75-percent-tax-rate-confirmed
The National Assembly in France has voted to tax the highest earnings in the country at a rate of 75%.
AAP reports the measure would affect earnings of more than 1 million euros per year and is supposed to last for only two years.
It would be paid by an estimated 1500 people and generate an extra 210 million euros in revenue per year for the state.
Budget Minister Jerome Cahuzac said two years was the time it should take to straighten out the public deficit.

Copyright © 2012, Radio New Zealand

[Usarka]

Old what's his name hickey (not the weather homo) was saying the other day that the period where our upper tax rate was the highest back in the 60's/70's was also the period where our country was the most prosperous. Or something along those lines.

[Jantar]

http://www.radionz.co.nz/news/world/118709/75-percent-tax-rate-confirmed
The National Assembly in France has voted to tax the highest earnings in the country at a rate of 75%.
AAP reports the measure would affect earnings of more than 1 million euros per year and is supposed to last for only two years.
It would be paid by an estimated 1500 people and generate an extra 210 million euros in revenue per year for the state.
Budget Minister Jerome Cahuzac said two years was the time it should take to straighten out the public deficit.

Copyright © 2012, Radio New Zealand

That's similar to rates we had here in New zealand under Muldoon. Top tax rate of 66% for those earning more than $48,000 (from memory), then the universal child allowance abated at 10% for every dollar earned above that amount, housing cororation mortgages increased as earnings went up (I can't remember by how much). The nett effect of the tax, surcharges, abatements etc was a top tax rate of 110%. A public service friend of mine took a 4 grade demotion from $66,000 pa to $50,000 pa and his take home pay went up by $10,000.