France raises taxes for high earners

Earlier this week the ultra rich of France asked for a tax increase to help fix the budget problems. Last night the government approved a new tax. It was a message of solidarity. This morning, the sun still came up and the world didn't end.

BBC News:

The French government is to impose an extra tax of 3% on annual income above 500,000 euros (£440,000; $721,000).

It is part of a package of measures to try to cut the country's deficit by 12bn euros over two years.

The tax increase came after some of France's wealthiest people had called on the government to tackle its deficit by raising taxes on the rich.