President François Hollande is vowing to impose a 75 percent tax on the portion of anyone’s income above a million euros ($1.24 million) a year. “Should I be preparing to leave the country?” the executive asked Mr. Grandil.This weeks Rule 5 Post brought to you by France, for making it too expensive to stand, sit or lie around in good clothes, or sometimes no clothes at all (NSFW).
“We’re getting a lot of calls from high earners who are asking whether they should get out of France,” said Mr. Grandil, a partner at Altexis, which specializes in tax matters for corporations and the wealthy. “Even young, dynamic people pulling in 200,000 euros are wondering whether to remain in a country where making money is not considered a good thing.”Why would anyone stay in country where the government felt entitled to take 75% of what even the highest earning person makes?
But some wealthy people left after Mr. Mitterrand raised taxes in the 1980s. And more recently, the former Victoria’s Secret model Laetetia Casta, the restaurateur Alain Ducasse and the singer Johnny Hallyday caused a stir by moving to countries just across the border to escape the French treasury’s heavy hand.France's loss is someone else's gain.
More Laetitia Casta below the fold.
William Teach at Pirate's Cove has the usual Sorta Blogless Sunday Pinup and links.
Wombat-Socho checks in Sunday evening with "Rule 5 Sunday: Outskirts", the canonical list of Rule 5 posts.
The Classical Liberal links with Rule 5 Candy.