France Gets Its Millionaires Tax

Francois Hollande finally got his millionaires tax today, with France's Constitutional Council clearing the way for the president's much-debated move to level the playing field for the middle class, reports Reuters. Hollande's tax was originally a 75% tax on income over $1.38 million; the council ruled that was unconstitutional, forcing Hollande to revise it into its present form—a 50% tax on income exceeding $1.38 million that is paid by the employer, notes the AP. The revision has not sat well with business owners. (More France stories.)