Rich in France Plan to Flee as 75% Income Tax Looms

Rich in France Plan to Flee as 75% Income Tax Looms

When France elected Socialist President Francois Hollande earlier this year, most of America looked over and said, "Good luck, idiots." Now, France's richest people are making plans to flee the country as Hollande plans to implement a 75 percent "rich" tax. Those so called rich people also happen to be the economic engine that drives the French economy through business and job creation. If the rich go, so does the economy.

“We’re getting a lot of calls from high earners who are asking whether they should get out of France,” said Mr. Grandil, a partner at Altexis,...