Hollande profits from surprise tax ploy

Article reported that European social democrats mostly long ago gave up 'soak the rich' polemics as counterproductive, but for France’s François Hollande, his startling proposal on the 28 February 2012 to impose a 75% marginal tax on incomes above €1m appears to have worked – at least for now.

Two polls published on the 1 March 2012 showed that between 61 and 65% of French people approved of the move, despite furious protests from President Nicolas Sarkozy, his centre-right UMP party and senior business figures that the tax would prompt an exodus of talent and investment from France.

ESO: Background information: French presidential election, 2012 http://www.europeansources.info/record/french-presidential-election-2012/

ESO: Background information: Hollande proposes 75% top tax rate http://www.europeansources.info/record/hollande-proposes-75-top-tax-rate-hollande-takes-campaign-to-london/

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