You are currently viewing the printable version of this article, to return to the normal page, please click here.

French President Francois Hollande hits businesses with 75 percent tax

Question of the Day

Should Congress make English the official language of the U.S.?

View results

A court may have shot down French President Francois Hollande's attempt to stick the wealthy with a 75 percent tax on earnings above a certain amount. But he's not giving up. Mr. Hollande's new plan: Stick the 75 percent tax on businesses.

Companies — not individuals — would have to pay the high tax on any salaries that are paid over a million euros, under Mr. Hollande's latest proposal, Newsmax reports.

"I am sticking by my pledge," Mr. Holland said, as quoted in Newsmax.

The Socialist leader is trying to reignite a sluggish economy — as he promised during his campaign — but is facing dwindling poll numbers and approval ratings. His recent attempt to tax wealthy at a 75 percent rate was denied in a constitutional court.

He said now his "first objective is to reverse the unemployment rate," as quoted in Newsmax.

© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.

Comments
blog comments powered by Disqus
TWT Video Picks