France’s 75% Tax on Millionaires is Not What You Think

Almost two years ago now, there was a big hullabaloo because France proposed a 75% tax on millionaires. Some folks were really upset that millionaires were going to have to pay 75% of what they earned in a year for taxes. WRONG. This is not true. In no country (that I’ve ever seen), do taxes work this way. […]

US Congress: 48% Millionaires, US Population: 2.85% Millionaires

I recently saw an article in The Atlantic with the title: Does the Rise of the Super-Wealthy Require New Global Rules? It’s a provocative question based on a book by Chrystia Freeland, Plutocrats. I highly recommend taking the time to read it! Anyway, while the article was good, there was something near the beginning that caught my eye […]

Taxes are the Same for Everyone: Marginal Rates vs. Millionaires and Billionaires

I was watching some of the coverage of the ongoing fiscal cliff mess and I heard one of the people being interviewed talking about how the “Bush tax cuts” are going to be extended for 98% of Americans. This. Is. So. Wrong. I’d like to assume that the people on TV informing the nation know that […]