France Gets Its Millionaires Tax
Constitutional Council finds revised 50% tax is constitutional
By Polly Davis Doig, Newser Staff
Posted Dec 29, 2013 8:28 AM CST
French President Francois Hollande talks with Austrian Chancellor Werner Faymann, during an EU summit in Brussels, Friday, Dec. 20 2013.   (AP Photo/Geert Vanden Wijngaert)

(Newser) – Francois Hollande finally got his millionaires tax today, with France's Constitutional Council clearing the way for the president's much-debated move to level the playing field for the middle class, reports Reuters. Hollande's tax was originally a 75% tax on income over $1.38 million; the council ruled that was unconstitutional, forcing Hollande to revise it into its present form—a 50% tax on income exceeding $1.38 million that is paid by the employer, notes the AP. The revision has not sat well with business owners.

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gomer99
Dec 30, 2013 2:49 PM CST
ATTENTION !!! Economics and Political "science" professors. Assign class to keep track of ... heh, heh ... what happens next. Prediction: your fledgling Marxists will turn into Libertarians. (and .... condo sales in Monaco, Spain, and Tuscany will be going through the roof)
JUNIORHIGHTOWERTEXAN
Dec 30, 2013 9:25 AM CST
So them frenchies is goan to turn them country into calfiornia and thems is goan to be broke dont matter aint no nothing made in french anyway they alls wants free hobspital and stuff the world econ are is this China, Japan, USA Americas, Texas, German, England, French, Spain, then afer all them maybe california but aint no jobs in french or calfiornia cause thems aint got no money anyone with money in the world is goan an moving to TEXAS. TEXAS BIGGEST WORLD ECONMI TEXAS STRONG TEXAS PRIDE TEXAS IS $$$$$
Ezekiel 25:17
Dec 29, 2013 6:37 PM CST
Lets see how this works out. So far, some companies have transferred ownership to Ireland to join the ranks of Cisco. Then their paychecks are written on Irish banks under Irish law. France may take exception to the practice but what if that owner decides to just move the entire operation to Ireland, lock, stock and barrel. If I own a company nobody tells me where I locate it, I'll locate it where it makes me the best profit so I can have more toys. Do you think there are a lot of Frenchies who would want to live in Ireland? Highly doubtful as the French would drown there with all the rain they get and French have their noses turned up all the time.