Indigestion for ‘les Riches’ in a Plan for Higher Taxes
The call to Vincent Grandils Paris law firm began like many others that have rolled in recently. On the line was the well-paid chief executive of one of Frances most profitable companies, and he was feeling nervous.
President François Hollande is vowing to impose a 75 percent tax on the portion of anyones income above a million euros ($1.24 million) a year. Should I be preparing to leave the country? the executive asked Mr. Grandil.
The lawyers counsel: Wait and see. For now, at least.
Were 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.
full: http://www.nytimes.com/2012/08/08/business/global/frances-les-riches-vow-to-leave-if-75-tax-rate-is-passed.html?pagewanted=all