France’s 75% tax rate gains approval by top court
BBC December 28, 2013
French president François Hollande is a socialist. Credit: Matthieu Riegler via Wikipedia
France’s highest court has approved a 75% tax on high earners that is one of President Francois Hollande’s signature policies.
The initial proposal to tax individual incomes was ruled unconstitutional by the Constitutional Council almost exactly one year ago.
But the government modified it to make employers liable for the 75% tax on salaries exceeding 1m euros (£830,000).
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IT'S A CASH GRAB PEOPLE, SIMILAR TO OBAMACARE GRABBING YOUR TAX REFUND IF YOU DON'T HAVE HEALTH INSURANCE.
"The last and final act of every corrupt government is to loot the population." - Michael Rivero
this is not gonna work for those super rich as they, already have those charities and foundations set up as a tax scheme. Then, who's next ? those who earn 250.000 a yr as pet mentions above.........
what is considered rich? $250,000 per year? That is not rich anymore-the super wealthy will get around this and the middle and upper middle clas will pay , I mean re-distribute their earned wealth.