french income tax rate
Senate Session 2010-04-15 (13:46:11-14 ...
Today's economy is very dependent upon mortgage interest rates. Right now the interest rates are very low. This, of course, is good. Today, a 30-year mortgage can be obtained for about 6%, maybe less. At 6%, a $200,000 mortgage for 30 years would result in a monthly payment of $1,199.10.
What would happen if mortgage rates suddenly went up to 10%? Well, this same mortgage would require a monthly payment of $1,755.14. It doesn't take much imagination to see that this would have a negative effect on the overall economy. Someone requiring a $200,000 mortgage to buy a home, would need to be able pay $550 more per month to qualify for the same loan.
To the economy, this is wasted money. If a person was required to come up with $550 more per month to buy the house because the price was that much higher, it would be negated by the fact the seller would have made more money by selling the house.
If the seller happened to be an entrepreneur, this extra money would end up creating more jobs. In any event, the extra money would be put to some use in our economy, even if it were just put into a savings account. However, paying a higher price because interest rates are higher means no one gains anything. This, in itself, would cause an economic slowdown.
However, interest rates are good and have been for quite some time. So, you may ask how do these interest rates compare with other rates throughout history?
Fannie Mae and interest rate stability
In 1938, Fannie Mae was instituted. This put mortgage rates into a particular market. Before this time, mortgage rates varied wildly from lender to lender and between different areas of the country. With Fannie Mae, loans could be sold between different institutions. Having more people involved in a market tends to stabilize the price of the underlying commodity.
Back in 1938, there wasn't a lot of money around. Because of this, mortgage rates were very low, as low as even 3%. In the '40s mortgage rates stayed low in part because during wartime most of the economy was regulated and buying a house was very difficult. So, there wasn't a lot of demand for mortgage money.
The early mortgage rates
In the '50s and right up until the mid '60s mortgage rates hovered around 5% to 5.5%. This is very close to where mortgage rates are now. However, starting in 1971, mortgage rates started to increase. In fact by the late '70s, they had become out of reach. People who didn't enjoy a top credit rating were asked to pay as much as 23% for a mortgage. This of course, was devastating to the overall economy, so much so, a misery index was even created to gauge how bad consumer sentiment was.
Controlling the price of oil is not a new idea
Part of the reason interest rates were skyrocketing during the '70s, was the fact price controls were tied to oil prices. This had a very negative effect on the overall economy. It made gas unavailable to consumers and disrupted the normal American way of life.
Starting in the early '80s, Reagan-omics started interest rates falling once again. This trend, which started in about 1983, has not ended yet. The interest rates of the '90s ranged between 7% and 9%. Since about 2001, they have been between 5% and 7%. All in all, for the last 20 years we've enjoyed moderate interest rates.
Now that we're a closing in on a 50-year low for mortgage rates, it makes us wonder if this downward trend is ending and if mortgage rates will once again head upward. When I think of the possibilities, I must say I am petrified!
Is anybody for a change?
In this presidential election year, I hear many people say they're looking for a change. To me, this means interest rates being low is not what these people are looking for. Perhaps they would like interest rates at 15 to 20%. In their quest for change it would mean they would have to give up on the war against terrorism. This is a war we are winning, but change would mean they're looking to lose it.
Though the economy is no longer screaming along as it did for most of the last 23 years, the economy is not in a recession. In fact, it's not really close. But change would mean a recession. A profound change would mean a depression.
In our current economy the unemployment rate is about 5.2%. Not long ago, full employment was considered an unemployment rate of 6%. Within the last two years the unemployment rate reached an all-time low of 4.5%. However, people are looking for change. Perhaps the German-French style 13% unemployment rate is what they desire!
During the last 20 years, we've made many trade agreements with other countries. This has resulted in lower prices to consumers and lower prices to small businesses. This has been healthy for our economy because it has allowed the small businesses to expand and create. It has also allowed people to save and invest.
Those looking for change want to do away with our trade agreements with other countries. They have bought into the notion that free trade exports jobs. However, without free trade the common PC would cost about $15,000. This would be a change!
In 2003, our income tax rates were lowered. This has been very healthy for our economy. One of the changes some are looking for is to raise those income taxes again.
Worst of all, another one of the changes would be following those who want to put price controls on oil again. This would do the trick! It would indeed, mean change. Are you ready for 23% mortgage rates?
Cash-strapped govts tap the wealthy with higher income taxes
Cash-strapped govts tap the wealthy with higher income taxesCash-strapped govts tap the wealthy with higher income taxes
World’s Wealthy Tapped for Cash as Governments Tax High Incomes
May 27 (Bloomberg) -- From Athens to Olympia, Washington, governments made poorer by the recession are looking to higher taxes on the rich for cash. Spain’s wealthiest should be tapped to help close the euro region’s third-largest budget deficit, Prime Minister Jose Luis Rodriguez Zapatero said yesterday.
World’s Wealthy Tapped for Cash as Governments Tax High Incomes
From Athens to Olympia, Washington, governments made poorer by the recession are looking to higher taxes on the rich for cash.
May 27, 2010 For French residents, the is added to other and taxed at the progressive scale rates of income tax. Taxable rental is riviera.angloinfo.com › INFOrmation - 12 hours ago - Cached - SimilarGet more results from the past 24 hoursTaxation in France - Wikipedia, the free encyclopediaFrench social charges are also payable on income and gains, and the rates vary depending on the type of income, with the top rate being 12.1%. Wealth is en.wikipedia.org/wiki/Taxation_in_France - Cached - SimilarIncome tax - Wikipedia, the free encyclopediaAlternatively, a flat taxes all earnings at the same rate. A regressive tax may tax income up to a certain amount, such as taxing only the first en.wikipedia.org/wiki/Income_tax - Cached - SimilarTaxation - France - average, annual, system, sectorIndividual income tax in France is assessed in accordance with a progressive schedule of statutory rates ranging from 0% (up to €4121in 2002) to 52.75% (in www.nationsencyclopedia.com › Europe › France - Cached - SimilarIncome France: French Income Rates5.2. Income Tax Rates and Thresholds. The rates and bands for 2010 (for income earned in 2009) applicable to each 'part' in a household are set www.french-property.com//france/taxation/taxation/tax/rates/ - Cached - SimilarIncome France: Calculating Your French Income Tax in FranceSo, a single person would start paying at higher rates of than a three person Next: Rates · Back: Your French Income Return www.french-property.com//france/taxation/taxation/calculation-tax-liability - Cached - SimilarFRincTaxJump to French income rates: To calculate French tax, add up for the household, divide by the number of parts (based on household www.cabinetgregory.com/FRincTax.htm - Cached - SimilarFRENCH THREE TIMES OURS; Official Figures Answering YOO,000 at the normal exchange rate,of 6.20 to the dollar; and also upon a French income of 00000 franca, which would be to an income of $60.000 at the rate query.nytimes.com/gst/abstract.html?res - SimilarFrance / Corporate Taxation - Tax, Vat Tax We offer French business & law advice for businesses expanding into France. This is payable upon the net profits of the corporation and the is are levied on all at a of generally 10% in most cases. www.triplet.com/40-10_corporate/40-70_taxlaw.asp - Cached - SimilarThe income taxes people really pay - OECD ObserverMost studies compare only the top rates of personal income imposed by -central the all-in of taxes on income, to 61% in France and Turkey, www.oecdobserver.org//The_income_taxes_people_really_pay.html - Cached - SimilarSearches related to tax ratefrance calculatorcapital gains francefrench income rates 2009french income tax rates 2007marginal france Sponsored linksFrench Tax RateForeign and domestic Returnstailored to property investors. Jump to Personal rates: in France. IRPP (Impôt sur le Revenu des Personnes Physiques). Year 2009 Taxable income (Euros), Tax % www.franceaccountants.com/tax.html - Cached - SimilarMarginal Rates: The Concise Encyclopedia of Economics French rates claim half of any extra dollar at incomes roughly equivalent to $100000 in the United States, and exceed the highest U.S. tax rates www.econlib.org/library/Enc/MarginalTaxRates.html - Cached - SimilarFrench rates for 2010 from FrenchEntrée.comFrom 1 January, 2010 tax bands in France have been re-valued. For more information on all the latest rates please refer to the taxation table www.frenchentree.com › › Tax Zone - 18 hours ago - Cached - SimilarFrance Taxes and Costs-Rental income is surprisingly low in Effective on Rental Income. Monthly Income, €1500, €6000, €12000 . This also applies to companies subject to corporation tax, www.globalpropertyguide.com//France/Taxes-and-Costs - Cached - SimilarFrance TaxesThis results in four different rates for capital gains by individuals, as follows: France residents, capital gains on property. This is taxed as income. www.france-property-and-information.com/taxes-in-france.htm - Cached - SimilarTaxes, Tax, Rates, updates Business News, EconomyKey Data on World Taxes, Tax Rates, Tax Rates . The French GDP increased by 0.6% in the fourth quarter of 2009. March 2010. www.worldwide-tax.com/ - 7 hours ago - Cached - SimilarFrench return7 posts - 4 authors - Last post: May 18Hi, I'm trying to fill my return and have come to to calculate the tax rate for your other (french-taxable) income. www.expatforum.com//francefrance/48755-french-income-tax-return.html - CachedGet more discussion resultsWho pays the highest tax? - OECD ObserverIn France and the United States the implicit rate would be about 50%, Moreover, any examination of the highest statutory income rates that does not www.oecdobserver.org/news/fullstory.php?aid=35 - Cached - Similarfrench income ratesFeb 26, 2010 "Can anyone tell me anything about French income tax? I am retired and want to live in France. What is the basic of income and www.incometaxarticles.com/french-income-tax-rates-2 - CachedTaxation and costs of owning property in France - captial income is payable by non-residents at progressive rates with a minimum of 25%. Rental income should also be declared in the the country of your www.properties-in-europe.com/info_france_tax.htm - Cached - SimilarSearches related to income ratefrance calculatorcapital gains francefrench rates 2009french income rates 2007marginal rate france Sponsored linksFrench RateForeign and domestic Returnstailored to property investors. Exchange rate. GBP => EUR. USD => EUR Do not wait until the last minute to complete your French return! Our 100% English forms are now www.frenchtaxonline.com/ - Cached - SimilarIncome rates in France : British Expat Discussion Forum8 posts - 3 authors - Last post: Aug 9, 2003Would anybody care to list the bands and rates in France - or provide a link to where I can find them.britishexpats.com/forum/showthread.php?t=150871 - Cached - SimilarGet more discussion resultsUnited States, Tax, Reflections on the Application of Apr 14, 2010 Income treaties are designed, among other things, . file a U.S. return and pay the additional 25-percent that the U.S. . Since the is subject to by France at the SAS level, www.mondaq.com/unitedstates/article.asp?articleid=97314 - CachedFrench Top Earners Pay Only 20% in Income - L'Humanité in EnglishApr 18, 2010 The idea that they pay 50% of their in is a myth. “No French person should have to pay more than 50% of his income in taxes,” www.humaniteinenglish.com/spip.php?article1512 - Cachedfrench income tax rates find people in panama how to move to franceMar 10, 2010 The level of taxation might be important due to the high French tax rates. 1. Corporate Income Tax. Corporate (CIT) is a direct www.nicaraguacruises.com/pages/french+income+tax+rates.html - Cached[PDF] Savings on a Move to France – new 50% income exemption File Format: PDF/Adobe Acrobat - Quick ViewFrance's income regime should already be of particular interest if your calculated at banded rates on a household basis with the income divided into www.sykesanderson.com//2010-03-24%20French%20income%20tax%20exemptions.pdfUnited States Income Treaties - A to ZDec 18, 2008 Most treaties contain what is known as a "saving you must pay on the in the same way and at the same rates shown in the instructions for the applicable U.S. return. France. Back To Top www.irs.gov/businesses/international//0,,id=96739,00.html - Cached - SimilarBetter Preparation - housing tax credit extended on ShineApr 29, 2010 1997 town rates in nh. cincinnati tax form. irs lews french income bracket. pa realty transfer exemptions shine.yahoo.com//better-tax-preparation-housing-tax-credit-extended-1363843/ - CachedIncome in FranceThe corporate tax in France has been simplified of late. 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