French President announces 75% tax on companies for salaries above 1m
French companies will pay a 75% tax on all salaries higher that one million Euros, the French President, Francois Hollande announced Thursday evening.
Mr. Hollande said that “the company will have a contribution to pay that will reach 75%. During these difficult times, can’t those that are at the top make an effort for 2 years? The company will thus become responsible”. “When the salary of a CEO reaches above one million Euros, the company will be taxed by 75%”, he explained
Finding himself at the lowest popularity ratings, the French President made this announcement during an interview with David Pujadas at the French TV channel “France 2”, while trying to explain the policies of his government. "I am not a Socialist president. I am a Head of State", he declared