Free Republic

PARIS (AP) — It was supposed to force millionaires to pay tax rates of up to 75 percent: "Cuba without the sun," as described by a critic from the banking industry. Socialist President Francois Hollande's super tax was rejected by a court, rewritten and ultimately netted just a sliver of its projected proceeds. It ends on Wednesday and will not be renewed. And that critic of the tax? He's now Hollande's economy minister, trying mightily to undo the damage to France's image in international business circles. The tax of 75 percent on income earned above one million euros ($1.22 million)...

François Hollande on Monday vowed to press on with his super-tax on the rich, despite a damning decision by France’s top court to throw it out as unconstitutional. But it is uncertain when a new version of the tax will be introduced and whether it will be watered down. … “We will still ask more of those who have the most,” said Hollande. He added that the exceptional tax on France’s wealthy would be “adjusted without changing its objective”, but did not provide details of any new proposal. … The tax remains overwhelmingly popular with the French public, 60% of...