France Poised To Levy World's Highest Income Tax, Exceeding The Following Nations' Rates

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September 29, 2012 2:32 AM EST

France’s recently elected socialist president, Francois Hollande, is pushing to raise France’s top income tax rate from 48 percent to 75 percent. If Parliament approves the measure, France’s proverbial one-percenters (estimated by the New York Times to be between 7,000 and 30,000 households) would be subjected to the world’s top income tax bracket. This would launch France from tenth place to first place, according to auditing firm KPMG, based on 2012 estimates. Here is a list of the other top taxers.

Photo of Paris / Creative Comm

France's top income earners could see their income tax burden rise to 75 percent, which means as many as 30,000 French household could end up in the world's highest personal income tax rate.

Caveat: In much the same way Republican presidential candidate Mitt Romney managed to avoid the 35 percent marginal income tax rate, whittling his burden down to 15.4 percent last year (and even lower in previous years) through legal accounting and wealth management practices, top income tax rates are rarely what the world’s richest actually pay.

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(Photo: Photo of Paris / Creative Comm / )

France's top income earners could see their income tax burden rise to 75 percent, which means as many as 30,000 French household could end up in the world's highest personal income tax rate.

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