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France Unveils Temporary 75 Percent Super-Rich Tax Rate
Socialist President Francois Hollande unveiled higher levies on business and a 75-percent tax for the super-rich on Friday in a 2013 budget aimed at showing France has the fiscal rigour to remain at the core of the euro zone.
The package aims to recoup 30 billion euros ($39 billion) for the public purse with a goal of narrowing the deficit to 3.0 percent of national output next year from 4.5 percent this year - France's toughest belt-tightening in 30 years.
But the budget dismayed business and pro-reform lobbyists by hiking taxes and holding France's high public spending at the same level rather than cutting it as Spain, Greece and Italy have done to chip away at their debt mountains.
Source and full story Reuters/Huffington Post, 28 Sept 2012
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Comments
Re: France Unveils Temporary 75 Percent Super-Rich Tax Rate
Does anyone truly believe that the rich will actually be taxed? I don't.
Incidentally François Hollande is no more "socialist" than any other elitist politician.
If France dumped the euro currency, then the central government would have no need to tax anyone, rich or poor. France would create its own currency, like the USA. Of course, taxes would continue on the lower classes anyway, like in the USA.
Modern societies are found on lies and mass brainwashing.