I just got thinking (can be dangerous). France's new President, Francois Hollande, could have handed us a massive boost in the potential signings that could be available. If he delivers on his pre-election 75% tax on earners over 1million euro (approx £850,00) per annum, there will be a lot of wealthy french people worse off. We can even pay more than they would usually take home, because of the 45% rate we have. I am no tax expert, but a player currently being paid £2 million in France will end up taking home approx £750,000 (as I assume their standard 45% rate will apply up to the first million) That same players wages which would have cost us £2 million to match, now could cost us approx £1.6 million to better! Now there's some very good players over there who can play....... Spanish football, with clubs in the top two divisions estimated to be £3.4billion in debt and owing more than £1billion in tax and social security. They have been forced to penny pinch and the Spanish Sports Minister has given them a deadline. From the 2014-15 season, clubs will be forced to put aside 35 per cent of their revenue from media rights as a guarantee against their tax obligations, and infringements could even mean a ban from domestic football. Not many pay rises will be given in those Spanish leagues and purse strings will be drawn in. They also have a 52% rate of top taxation, but with an even worse financial situation than France, will no doubt come under pressure to follow suit on a future increase. Now there's some very good players over there who can play.......
Anyone earning top money like that will have people on hand that will save them money, this 75% tax is designed to make socialists headlines it will never become reality and there will be loopholes, basically it's spin ala tony blair.
Swim, off topic I know but I thought this might interest you. http://bantertees.co.uk/epages/950002244.sf/en_GB/?ObjectPath=/Shops/950002244
I was going to say, the rich get rich somehow. They'll just employ badass accountants and register **** abroad/give token amounts to charities as tax write-offs etc. I doubt someone would have their wages taxed that heavily...
Permission to blow my own trumpet please!!! PS all this foresight despite me not 'knowing the right people', as some seem to continually qoute! I take great credit in the fact The Greate Dane agreed with me and obviously reads my posts!
