France’s highest court on Saturday threw out a measure pushed by French President Francois Hollande, to tax incomes over €1 million ($1.32 million) at 75 percent. According to the Associated Press, the constitutional council ruled that the way the tax was designed is unconstitutional.
From the AP:
Prime Minister Jean-Marc Ayrault was quick to respond, saying in a statement following the decision the government would resubmit the measure to take the court’s concerns into account. The court’s ruling took issue not with the size of the tax, but with the way it discriminated between households depending on how incomes were distributed among its members. A household with two earners each making under €1 million would be exempt from the tax, while one with one earner making €1.2 million would have to pay.
