In response to:

France to Set Top Marginal Tax Rate at 75%, France Poised to Implode

Kibitzer Wrote: Jul 05, 2012 12:45 PM
And the projected revenue increase will not materialize. There is a good chance that the total revenue will actually go down, not up. It isn't the rate but the revenue that counts!

Many told me that French president Francois Hollande was making idle campaign pledges on tax hikes and worker rules, and the he would not follow through. Well he did, at least on taxes.

The Financial Times reports Wealthy hit hardest as France raises taxes

France’s socialist government announced a big one-off increase in wealth taxes on Wednesday, by far the biggest single element in a €7.2bn package of new levies aimed at meeting this year’s budget deficit target that also included surcharges on banks and energy companies.

The supplementary 2012 budget, required to ensure the government hits its deficit target...
Related Tags: France Tax