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French President Francois Hollande hits businesses with 75 percent tax
Question of the Day
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.
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About the Author
Cheryl Chumley is a continuous news writer for The Washington Times. Previously, she was part of the start-up team for The Washington Times’ digital aggregation product, Times247. She’s also a 2008-2009 Robert Novak journalism fellow with The Phillips Foundation. She can be reached at email@example.com.
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