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Please begin with an informative title:

During the French election (now) President Hollande presented a plan to cut the budget deficit. Part of the plan was raising taxes on those earning more than EUR 1 million per year (~ $ 1.3 million per year) to 75%.see Article at the Economist Including other levies the top marginal tax rate will be more than 90%. see Article at the Economist

After the elections a funny thing happened: President Hollande followed through with his plan. With a strong majority in parliament (see Wikipedia article) getting the neccessary change to the tax code was no problem. A first version of the necessary law was ruled unconstitutional by the French Supreme Court (see Article) because it fails to guarantee taxpayer equality. The questions raised by the French Supreme Court are widely seen to be solvable. A second version of the law is expected to be passed sooner rather than later.

Predictably some tax payers are having none of it and move to French speaking parts of Belgium where top tax rates are a mere 50% (see Article)

One of the more famous Frenchmen is going full circle after stating that he has paid EUR 145 million in taxes over the last 45 years and is employing 80 people (see Article) he has decided to renounce his citizenship. A few days later Russia's Vladimir Putin offered the citizenship of the Russian Federation to Depardieu. Depardieu has accepted (and now apperently loves Russia and Putin see Article ), travelled to Sotschi and fetched his passport after meeting Vladimir Putin.

Depardieu will now pay a 13% flat tax on his income.

For all those job creators devastated by recent tax hikes there may be a great opportunity:
Go all the way and move to North Korea. They have abolished all taxes in 1974 (see Wikipedia). You can find highly qualified, loyal and motivated personnel there. And they will not not abandon their positions for higher salaries once they are trained (http://www.korea-dpr.com/...).


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