France Sexy No More for Entrepreneurs Escaping Hollande: Taxes
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Jean-Emile Rosenblum, a 34-year-old e-commerce businessman, is quitting France.
With President Francois Hollande’s government readying a vote this month on its first annual budget law that seeks to raise 24.4 billion euros ($31.7 billion) in additional taxes, some of France’s entrepreneurs and wealthy are heading for the door. Hollande’s hitting businesses and individuals with at least a dozen new measures, including a 75 percent levy on income of more than 1 million euros, to narrow the budget gap.