#1 France's Constitutional Council rejected a 75 percent upper income tax rate12-29-2012, 10:18 AM
By Emile Picy and Catherine Bremer
PARIS | Sat Dec 29, 2012 8:29am EST
(Reuters) - France's Constitutional Council on Saturday rejected a 75 percent upper income tax rate to be introduced in 2013 in a setback to Socialist President Francois Hollande's push to make the rich contribute more to cutting the public deficit.
The Council ruled that the planned 75 percent tax on annual income above 1 million euros ($1.32 million) - a flagship measure of Hollande's election campaign - was unfair in the way it would be applied to different households.
I'm surprised this constitutional council did not say “It Is Not Our Job to Protect the People From the Consequences of Their Political Choices”The difference between pigs and people is that when they tell you you're cured it isn't a good thing.
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