“Patriotic” to pay higher taxes . . . hmmm, that sounds vaguely familiar.
(BBC) — The Socialist favourite in France’s presidential election, Francois Hollande, has said top earners should pay 75% of their income in tax.
“Above 1m euros [£847,000; $1.3m], the tax rate should be 75% because it’s not possible to have that level of income,” he said.
Speaking on prime time TV, he promised that if elected, he would undo tax breaks enacted by Nicolas Sarkozy.
The tax proposal was condemned by his political opponents.
Opinion polls suggest the gap between the Socialist candidate and Mr Sarkozy has narrowed.
The two are tipped to reach the run-off on 6 May, after eliminating other rivals on 22 April.
Mr Hollande himself renewed his call on Tuesday, saying the 75% rate on people earning more than one million euros a year was “a patriotic act”.
“It’s a signal that has been sent, a message of social cohesion, there is an effort to be made,” he explained.
“It is patriotic to agree to pay a supplementary tax to get the country back on its feet.”
SOURCE: Weasel Zippers
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