the French income tax rate increases

[rob in cal]

    Assuming newly elected French President Hollande can actually get his income tax increases through the National Assembly we will see a great test case of how people react to a massive rate increase, albeit just a small amount of people.  He proposes to increase the 40% rate to 75% on all income above a million euros, (not sure where household size comes in on this though), and it will be fascinating to watch how big earners react.  I wonder how many of them there are, and how many make just into that million euro area and so wouldn't be too effected.  Also, how many might slack off a bit, once their rate jumps that high.

[rob in cal]

   I'd like to see a breakdown of income sources for those making one million or more per year.   In the US, earned income is a pretty substantial source of income for the top 1%, not just investment income.  Its the earned income portion in France that I'd guess will go down significantly if one saw a jump from 45% to 75% over a certain level.  The highest level now is 40% but Holland also proposes a raise of 40 to 45% and then the new rate of 75% above a million.