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France's 75% 'super tax' ruled unconstitutional

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    Greg Palkot reports from London

  • Duration 1:37
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Well France's socialist government promising to keep fighting for a higher taxes on the rich after its controversial 75%.

Super tax.

Was ruled unconstitutional.

-- how hot side force in London with these details hi Greg.

-- you think that wrangle over higher taxes in the states is serious check out what is happening in France.

Just over the weekend the French constitutional court said that he planned 75%.

Tax on those earning the equivalent of one point three million dollars or more a year should be thrown out as -- fair.

It had already been blasted by government critics and tape -- -- nor anti business once skeptic branding it -- fiscal bludgeoning the government trying to balance the budget on the backs of the rich.

And the planned tax hike and already sparked -- kind of dole rush -- high rollers for the French exits including well known actors Gerard -- Purdue -- was already set to move its permanent home to it next to or Belgium.

But high taxing French president -- all -- is not really defeated in this the court actually threw out the tax more on a technicality.

The government says it is planning to issue eight re worded tax bill soon.

And there are other tax hikes that the court did not touch regardless the French stock market seemed to like the message over the weekend and -- in -- shortened trading session today it bucked a trend Europe wide and was up.

-- percentage point -- says the French -- you.

-- -- Thank you very much Greg Palkot reporting live -- thank you.

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