Voice of America: France's Hollande Proposes 75 Percent Tax on Wealthy

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

France's Hollande Proposes 75 Percent Tax on Wealthy Sep 28th 2012, 16:21 France's new socialist government is calling for higher taxes on the wealthy and big businesses as it attempts to cut its budget deficit and boost its stagnant economy. In his first spending proposal, French President Francois Hollande proposed $39 billion in savings, with a third of it in spending cuts and two-thirds from higher taxes.  Hollande called for a 75 percent tax for the next two years on incomes topping $1.3 million.   Critics say the high tax rate would signal that ... Media files: 9A649AEE-6079-4444-A7A3-BC069BB5FBC9_cx0_cy4_cw0_w800_r1.jpg?nocache=1 (image/jpeg, 0 MB)

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