It seems France has figured out how to stick it to the rich: tax not the individuals,but the corporations who pay.
My prediction: the rich will get richer. Why? Because the companies will change to incentivizing executives with more stock and less cash. Those who get more stock and who run successful companies will thereby earn even more supersized returns than before.
We did this in the US – taxing income more than capital gains. My prediction is predictable…we know that it will happen.
thanks to Mark Perry for posting.