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No, the "ceiling" is a ceiling on tax / income introduced by the current government. You can reach it only with having low income and paying the wealth tax, so it's a measure for may be 5000 people.

Marginal tax rate on income (capital and work) is much lower. In France, if you decide to donate up to 6.8% of your income before tax to charities (as I do), your marginal tax rate is 26.8% (you can deduce 66% of your donation capped at 20% of your income, and the marginal tax rate is 40%).

In the same tax law the government introduced a floor, just like the AMT and the "ceiling", but the constitutional council said the floor was too "complicated" so unconstitutional but the ceiling was fine.

Same rule with max replaced by min.

Yes this is totally idiotic (and I was furious), but the then president of said council was a great creator of tax exemption when he was member of parliament, ...

by Laurent GUERBY on Fri Mar 30th, 2007 at 03:03:57 PM EST
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