Big business in France asked to pay more taxes to help the country

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Several of the largest fortunes and major employers in France, including the billionaire heir to L’Oreal, Liliane Bettencourt, and CEOs of multinational such as Veolia, Danone, Societe Generale and Total have signed a proposal requesting the Government to establish an “outstanding contribution” levied on higher incomes and thus collaborate in the “solidarity esfuezo” necessary to support the economic future of Gallic country.

“We, presidents and corporate executives, men and women in business, financial, professional or rich, ask the establishment of a special tax that will affect most favored French taxpayers,”

EU Parliament Approves Report On Financial Transaction Tax

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The European Parliament voted on a report that puts its support behind enacting a financial transaction tax across the European Union. A financial transaction tax has gained steam as a means of raising revenue for cash-strapped governments, seeking to make banks and other parts of the industry pay for the costs of the global economic crisis. However, it is a contentious topic, and some nations fear such rules could displace a central part of their economies.