The French Angle: Obscene pay = pay higher taxes

French prime minister vows taxes for rich - FT.com: "He added: “Yes, controlling public spending is indispensable – by the state, the social security system and the local authorities. But it is not sufficient. New taxes will be implemented. The desire of this government is to bring those previously exonerated into a collective effort.”
He confirmed that Mr Hollande’s promise to introduce a marginal tax rate of 75 per cent on incomes above €1m would be implemented, and he repeated similar pledges of increased taxes on wealth, inheritance, capital gains and big companies, “notably” on banks and energy groups.
Details of new tax measures are due to be set out by the government on Wednesday when it adopts a supplementary budget for 2012 to find the €6bn-€10bn needed to meet this year’s deficit target of 4.5 per cent. It is not expected to detail big spending cuts until it sets out its 2013 budget later in the year."