I actually agree with this. Money earned from real work should be taxed at a lower rate than income not tied to the sweat of the brow. Let's encourage innovation, not golfing.
The French government is trying to reign in its deficit by jacking up taxes, including the capital gains tax, which it wants to bring to the same level as the tax on income earned by the sweat of your brow—an old philosophical pillar of the French left.
“I actually agree with this. Money earned from real work should be taxed at a lower rate than income not tied to the sweat of the brow. Let’s encourage innovation, not golfing.”
Money I invest that was earned “by the seat of my brow” has ALREADY been taxed . If there is no incentive to invest, people won’t do it. Call any London real estate broker, and ask them how much time and money they are spending to woo wealthy French to move there.
You actually think that "real work" is not involved in income generated by investments? That no research is done, that no studying is required, that no alternatives are examined, that no investigations are performed, that no careful monitoring is involved, that no management effort is required?
How do you think innovation occurs, if not thru investment?
Not to mention that funds employed in investment have already been taxed...at least once...as ordinary income earned.
Understand the "the idle rich" is generally a misnomer -- except in the case of so-called trust fund babies, most of whom are Democrats, anyway. Moreover, the "idle rich" constitute a microscopic proportion of what you would evidently call "rich". The rest of them are working hard for every penny -- perhaps even harder than you.