Paul L. Caron

Tuesday, July 17, 2012

Vive France's 75% Tax Rate on the 'Wealthy'

NPR LogoNPR, Vive La France ... And its High Taxes on the Wealthy:

As the French people celebrate their revolution on Saturday, Bastille Day, the founding principles — liberte, egalite and fraternite — seem to be alive and well.

New President Francois Hollande embraced equality on the campaign trail this spring. To reduce the French deficit, he proposed raising taxes on large corporations and the super-rich. ... Hollande's proposal would slap a 75% tax rate on anyone making more than 1 million euros a year, a huge jump from the current top rate of 41%. It would also reinstate some wealth taxes Sarkozy got rid of. ... Polls show 67% of the French say they're ready to pay more taxes to help their country. Chalk that up to the revolutionary spirit of fraternite and egalite.

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