Great News: Taxes In France Reach 100%
This is currently the top story on Drudge.
Socialists control France now. Not that you’d ever notice…
Taxes on some wealthy French top 100 pct of income
More than 8,000 French households’ tax bills topped 100 percent of their income last year, the business newspaper Les Echos reported on Saturday, citing Finance Ministry data.
The newspaper said that the exceptionally high level of taxation was due to a one-off levy last year on 2011 incomes for households with assets of more than 1.3 million euros ($1.67 million).
President Francois Hollande’s Socialist government imposed the tax surcharge last year, shortly after taking office, to offset the impact of a rebate scheme created by its conservative predecessor to cap an individual’s overall taxation at 50 percent of income.
It can’t happen here though, right?
Progressives just want us to pay our fair share.