France's Hollande wants 75% tax on rich
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If at first you don't succeed in taxing the rich, try, try again.
French President Francois Hollande made changes to his failed proposal for a 75% top tax rate on Thursday, shifting the burden of payment from individuals to businesses that pay salaries over 1 million euros.
Hollande, during last year's presidential campaign, proposed a 75% tax rate on individual income above 1 million euros. The controversial tax was rejected by France's judiciary.
Hollande made his new payroll tax proposal on big salaries during a late-night television broadcast. "The Constitutional Council made a decision," Hollande said. "I respect it. So, I'm going to take a different path."
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