Posted on 12/29/2012 11:42:50 AM PST by Olog-hai
French president François Hollande suffered a damaging setback yesterday when France’s highest court ruled his proposed 75% “supertax” rate unconstitutional.
The measure, which is blamed for an exodus of wealthy French abroad, was a pillar of the Socialist leader’s successful Spring election campaign. But in an unexpected blow, France’s Constitutional Council ruled that the tax band did not guarantee equality for taxpayers because two households with the same total revenue could end up with different tax bills.
Although the tax would have hit only around 1,500 people, it was seen as the totem in Hollande’s political manifesto, which said it was justifiable in a time of economic crisis. Hollande, who once publicly declared “I don’t like the rich”, had called for economic “patriotism” from France’s wealthiest citizens. …
(Excerpt) Read more at telegraph.co.uk ...
lolz
Had the 75% tax hit everyone of the same income level equally, it would have been allowed. The judges have no problem with confiscatory tax rates, they just found the current version of the law to be unequally applied.
Can we plead foreign (French) Law during the next rounds of Obamacare suits? Some of our legal fools might listen to that argument.
From one year earlier, thanks Olog-hai.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.