By The Associated PressPARIS -- Embattled French President Francois Hollande suffered a fresh setback Saturday when France's highest court threw out a plan to tax the ultrawealthy at a 75 percent rate, saying it was unfair.
In a stinging rebuke to one of Socialist Hollande's flagship campaign promises, the constitutional council ruled Saturday that the way the highly contentious tax was designed was unconstitutional. It was intended to hit incomes over 1 million euros ($1.32 million).
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The largely symbolic measure would have only hit a tiny number of taxpayers and brought in an estimated 100 million to 300 million euros - an insignificant amount in the context of France's roughtly 85 billion euro deficit.
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That is way too much.
Such things shouldn't be implemented.
It has to stop