Ow, ow, ow

The immediate bone of contention is Article 6 of the new tax law, which raises the top rate of capital gains tax from 34.5pc to 62.2pc.

That\’ll be interesting in France.

Someone (someone who reads French perhaps) might want to keep an eye on CGT receipts in that country over the next couple of years. There\’s a very good chance indeed that revenues will fall. Which will be an interesting demonstration of the Laffer Curve, won\’t it?

2 thoughts on “Ow, ow, ow”

  1. the problem is that the fundamentalist wing of the TJN, the adherents of Saint Ritchie, The World’s Leading Tax Expert© will refuse to accept the evidence that the Laffer Curve exists and any fall in receipts will be painted as amoral rich bastards not paying what Ritchie thinks their share ought to be

  2. If the piece were a Wikipedia article, “the idea of aligning taxes on capital with those on wages is a profound economic error” would score a magnificent [CITATION NEEDED].

    Tim adds: Fair enough. The Mirrlees Report.

    You know, the one done by the Nobel Laureate who got his Nobel for studying tax systems?

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