High Earners Prepare To Flee France's Soaring Taxes
Some have already left, and companies are poised to transfer their executives
What is 75 percent of €0.00?
French president Francois Hollande wants to go back to the future on taxes.
When running for the job he eventually won, Hollande famously prooposed a marginal tax rate of 75 percent on income above €1 million per year.
The usual outcry ensued. Progressives argued it was only fair while those on the right — and those who would be impacted — made noise about fleeing France. Despite cries the rich are bluffing on their threat to say 'au revoir, Paris,' it appears that may actually happen.
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From the CNBC article:
“Of course, if Mr. Hollande has his way it could be terrific for America, which comparatively would look like a low-tax haven. New York realtors must be salivating.”
Best mouse in a horse show.