Hollande Wants to Tax High Salaries 75 percent

President Francois Hollande says that companies that pay their employees more than 1 million euros ($1.3 million) will see their tax bill on those salaries rise to 75 percent.

The new payroll tax—which would last only for two years—is meant to replace a proposal to tax individuals whose income was above 1 million euros that was struck down by the country's highest court.

(Hat tip to Reason commenter CampingInYourPark)

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