France votes to raise taxes on the rich
New measures, such as increases in wealth and inheritance taxes, have angered wealthy citizens.
Published On 20 Jul 2012
France’s parliament has voted to increase taxes on the rich, a move that has angered many wealthy in the country.
The rich now face a rise in wealth tax as well as a tightening of inheritance tax. More measures are also expected, including a 75 per cent tax rate on annual incomes of more than $1.2m.
Opinion polls showed that most French citizens approved the tax hikes, but some of the rich have called them “counter-productive”.
Al Jazeera’s Tim Friend reports from Paris.
Source: Al Jazeera