Here ya go - a recipe for disaster. The new budget calls for a 2-year 75% tax rate on incomes over a million euros. Doesn't say so in this article, but I think they are also going to raise the minimum wage there too. And expect to get less unemployment and more economic growth. Don't think so, but what's cool is we get to see somebody else do this crap and witness the results. I'll go on record right now and say this cannot end well for them. What's really interesting is the snippet below, they are also going to raise taxes on the middle income folks too.
snippet:
Among the other measures included are: a new income tax level at 45 percent for those making more than 150,000, an increase of capital gains taxes to bring them more in line with how salaries are taxed, and a cap on certain deductions for large companies on their income taxes.
France unveils a budget heavy on taxes - Yahoo! News
snippet:
Among the other measures included are: a new income tax level at 45 percent for those making more than 150,000, an increase of capital gains taxes to bring them more in line with how salaries are taxed, and a cap on certain deductions for large companies on their income taxes.
France unveils a budget heavy on taxes - Yahoo! News