SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Actor Gerard Depardieu moved to Belgium at the first word of the 75 per cent tax (Odd Andersen/AFP/Getty Images
France Overturns Progressive Tax on the Rich
A tax measure introduced by France's socialist dominated government and recently elected President Francois Hollande, which would have placed a 75 per cent tax on incomes above $1.32 million, was overturned in the country's highest court Saturday.
A challenge to the tax was placed by opposition conservatives, whom the Constitutional Council sided with in the ruling, saying the the tax was unfair to millionaires and billionaires.
Dec 29, 2012
A tax measure introduced by France's socialist dominated government and recently elected President Francois Hollande, which would have placed a 75 per cent tax on incomes above $1.32 million, was overturned in the country's highest court Saturday.
A challenge to the tax was placed by opposition conservatives, whom the Constitutional Council sided with in the ruling, saying the the tax was unfair to millionaires and billionaires.
The tax, though only affecting a few thousand people in the country, would have provided revenues of roughly $400 million a year for the economically hit country--a number fairly small compared to the country's deficit but one which progressive-tax supporters cheered as a measure that would force the wealthy to begin paying their fair share.
Shortly after the ruling, Prime Minister Jean-Marc Ayrault stated that the government would reintroduce a revised version of the tax for next year to address the criticisms of the Constitutional Council, insinuating that the fight was not over.
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Jacob Chamberlain
Jacob Chamberlain is a former staff writer for Common Dreams. His website is www.jacobpchamberlain.com.
A tax measure introduced by France's socialist dominated government and recently elected President Francois Hollande, which would have placed a 75 per cent tax on incomes above $1.32 million, was overturned in the country's highest court Saturday.
A challenge to the tax was placed by opposition conservatives, whom the Constitutional Council sided with in the ruling, saying the the tax was unfair to millionaires and billionaires.
The tax, though only affecting a few thousand people in the country, would have provided revenues of roughly $400 million a year for the economically hit country--a number fairly small compared to the country's deficit but one which progressive-tax supporters cheered as a measure that would force the wealthy to begin paying their fair share.
Shortly after the ruling, Prime Minister Jean-Marc Ayrault stated that the government would reintroduce a revised version of the tax for next year to address the criticisms of the Constitutional Council, insinuating that the fight was not over.
Jacob Chamberlain
Jacob Chamberlain is a former staff writer for Common Dreams. His website is www.jacobpchamberlain.com.
A tax measure introduced by France's socialist dominated government and recently elected President Francois Hollande, which would have placed a 75 per cent tax on incomes above $1.32 million, was overturned in the country's highest court Saturday.
A challenge to the tax was placed by opposition conservatives, whom the Constitutional Council sided with in the ruling, saying the the tax was unfair to millionaires and billionaires.
The tax, though only affecting a few thousand people in the country, would have provided revenues of roughly $400 million a year for the economically hit country--a number fairly small compared to the country's deficit but one which progressive-tax supporters cheered as a measure that would force the wealthy to begin paying their fair share.
Shortly after the ruling, Prime Minister Jean-Marc Ayrault stated that the government would reintroduce a revised version of the tax for next year to address the criticisms of the Constitutional Council, insinuating that the fight was not over.
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.