France Contemplates Lifting Top Tax Rate

choi

Liz Alderman, Indigestion for 'les Riches'; A plan for higher taxes unsettles France's wealthy. New York Times, Aug 8, 2012
http://www.nytimes.com/2012/08/0 ... rate-is-passed.html

Quote:

"President Francois Hollande [of France] is vowing to impose a 75 percent tax on the proportion of anyone's income above a million euros ($1.24 million) a year."

"There is currently no plan to change the tax rates for most people, which is 14 percent for the poorest and 30 percent for the next rung. For higher earners — people with incomes above 70,830 euros a year — the tax rate will soon rise to 44 percent, up from 41, in a change that was already set before [Socialist] Mr Hollande’s election

"Taxes are high in France for a reason: they pay for one of Europe’s most generous social welfare systems and a large government.

"France has a 33 percent corporate tax rate — the euro zone’s second-highest, after Malta’s 35 percent. That contrasts with the 12.5 percent rate in Ireland, which has deliberately kept a lid on corporate taxes as a lure to businesses.

Note:
(a) View the bar chart that accompanies teh report.
(b) list of countries by tax rates
http://en.wikipedia.org/wiki/List_of_countries_by_tax_rates
(individual income tax rates: China 5-45%; Taiwan 6-40%)