Voice of America: Top French Court Overturns 75 Percent Tax Rate for Rich

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

Top French Court Overturns 75 Percent Tax Rate for Rich Dec 29th 2012, 12:57 France's highest court has overturned the Socialist government's 75 percent income tax rate for the wealthy.   The Constitutional Council ruled Saturday that the upper tax rate on incomes above $1.32 million, set to go into effect next year, is unconstitutional because it represents a "breech of equality of taxes."   The decision is a huge blow to President Francois Hollande, who had made the 75 percent rate his flagship tax measure.  However, the top tax rate ... Media files: 6A7BB526-E762-48A5-A7FA-4CD18D0BF9F5_cx0_cy0_cw0_w800_r1.jpg?nocache=1 (image/jpeg, 0 MB)

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