France’s Hollande slammed over millionaire tax proposalFebruary 28, 2012 - 17:37 AMT PanARMENIAN.Net - The French government on Tuesday, February 28 slammed a proposal by Socialist presidential frontrunner Francois Hollande to slap a 75-per-cent tax on millionaires, saying such a punitive tax could drive away top talent. Hollande, who is leading incumbent President Nicolas Sarkozy in opinion polls ahead of the April 22-May 6 election, announced the proposal in an interview with TF1 television on Monday evening. Condemning what he called the “indecent wealth” of some French bosses, he proposed a 75-per-cent tax on annual incomes of over 1 million euros (1.3 million dollars). The new tax would apply to the part of the income that exceeds 1 million euros. Hollande, a parliamentarian and former Socialist Party leader, had previously proposed a new 45-per-cent tax on incomes exceeding 150,000 euros. That proposal still stood, he said. Defence Minister Gerard Longuet warned that a 75-per-cent tax rate would make investors “go elsewhere.” “We need grey matter in France, we need decision makers,” he argued. Centrist candidate Francois Bayrou, of the MoDem party, and far-right National Front leader Marine le Pen, also slammed the Socialist proposal. Bayrou said senior executives would try to get round it by “offshoring their salaries” into foreign accounts. Le Pen called the tax “absurd and ideological.” The debate comes as opinion polls show Sarkozy gaining ground on Hollande, two weeks after he formally entered the race, M&C reported citing DPA. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. Armenia, India hold first defense consultations The meeting was attended by Indian Ambassador Nilakshi Saha Sinha and Defense Attaché Brigadier General Naveen Nijhawan. Civil disobedience campaigns continue in Yerevan People demanding Prime Minister Nikol Pashinyan’s resignation again blocked streets in Yerevan on May 15. |