BBC: Will the rich flee France's 75% tax rate?
The new tax is expected to be formally announced in the government's first budget on 28 September, but that does not mean there is a sense of panic in France.
Yet its chief executive, Michel Landel, has no intention of leaving France, and the tax regime for millionaires is not even top of his agenda. "France has a very good level of education, the infrastructure is very good, the cost of energy is very good," he says.
But that is not to say that a very high tax rate on the highest paid is not deemed problematic by French business. Pierre-Antoine Gailly, president of the Paris Chamber of Commerce and Industry, says it sends the wrong message to just the kind of people that France needs. "It is not a good decision because it pinpoints a few people, a couple of thousand who are very talented entrepreneurs and which the country needs to sustain economic development," he says.
"The good thing is that it's only for a couple of years until the deficit falls below 3%."The difference is that in France, the rich are expected to carry a heavier burden, says Romain Gubert, deputy economic editor for Le Point magazine. "There is greater acceptability of taxes in France than in other countries," he says, "because it is in the [French] DNA that the word equality is a reality."
http://www.bbc.co.uk/news/business-19626188
Most French rich will stay in France. Just like most rich Americans stayed in the US when our top tax rates were even higher.
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