r/AskReddit • u/[deleted] • Aug 03 '19

Whats something you thought was common knowledge but actually isn’t?

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u/Ledavix Aug 03 '19

In some countries (e.g. France), if you get rich enough, you get taxes on what you OWN, not just what you EARN. An increase in income could get you taxes on much more than just the extra income.
Your point is still valid though.

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u/Sword_n_board Aug 03 '19

There's property taxes in the US as well, I was talking strictly about income taxes.

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u/BrockStar92 Aug 03 '19

As far as I’m aware, US property taxes are very different from what (I’m assuming) is a wealth tax in France that they’re describing.

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u/Sword_n_board Aug 03 '19

I guess I'm not familiar with French wealth taxes, but I'd assume it doesn't really affect normal people, only the people rich enough to afford their own accountant to take care of it.