Vive le…. TAX?
The French Socialist government confirmed a 75% tax rate for top earners and a new 45% ‘band’ for revenues over 150,000 euros.
Businesses are targeted as well. Loan interest tax deductions have been reduced and a capital gains tax break has been eliminated. These respective cuts have taken €4 and €2 BILLION out of the hands of business and placed them into government coffers.
“France is sick because of the model it has … but is choosing to preserve it.” says Guillaume Cairou, Head of the Entrepreneurs Club.