France's 75% 'supertax' quietly dies with few mourners

[snooper2]

http://news.yahoo.com/frances-75-supertax-quietly-dies-few-mourners-055006058.html;_ylt=AwrBEiE3aqlUb2wAiajQtDMD

Paris (AFP) - Once a flagship policy of French President Francois Hollande, the 75-percent "supertax" on top earners limps into its final weeks this month having sparked plenty of controversy but few economic results.

It was no surprise that the policy, which expires on February 1, would be quietly dropped: it was only ever slated to last two years and the Socialist government has for months declared it would not be renewed.

The tax had also been watered down until it was barely a shadow of the "exceptional contribution to solidarity" proclaimed by Hollande when he came to power in 2012.

France's top court had declared as unconstitutional the original plan to levy the tax on all individuals earning one million euros ($1.2 million).

[Nye Bevan]

1. Yeah, some of us called this a while ago.

http://www.democraticunderground.com/?com=view_post&forum=1002&pid=1967147

I'm not looking for accolades; it was an obvious call.

[Dreamer Tatum]

2. When people pine for that old 90% tax rate I always have the same response

"Do you really think anyone was actually PAYING 90%?"