French court says au revoir to 75% tax on wealthy
Share Now on:
And finally, France isn’t tussling over a fiscal cliff, but it’s having its own fight over taxing the rich.
The high court there has rejected President Francois Hollande’s 75 percent tax on millionaires. Hollande may re-draft a watered-down version next year, but it may be too late to appease wealthy French citizens like actor Gerard Depardieu, who’s moving to Belgium to escape French taxes.
Even Hollande’s advisers weren’t totally behind it; one of them reportedly quipped that the 75 percent tax would turn France into “Cuba without the sunshine.”
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.