August 25, 2011
France taxes the rich
What is looked upon with horror in some circles in the US is viewed as perfectly reasonable in France.
The French government is to impose an extra tax of 3% on annual income above 500,000 euros (£440,000; $721,000).
It is part of a package of measures to try to cut the country's deficit by 12bn euros over two years.
The tax increase came after some of France's wealthiest people had called on the government to tackle its deficit by raising taxes on the rich.
See, that wasn't so hard was it?