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French Presidential Candidate Proposes 100 Percent Tax

Thursday, April 20, 2017

Jean-Luc Melenchon, the far-left candidate in France's presidential race, is promising to impose a 100 percent tax on high incomes to promote more income equality in France.

Melenchon recently staged a series of successful rallies after announcing a manifesto that included a 100 percent tax on annual incomes exceeding EUR400,000 (USD427,000).

In choosing this particular threshold, Melenchon hopes to achieve one of his main objectives, which is to restrict executive pay to no more than 20 times the average French wage.

Melenchon is also proposing protectionist trade measures and a renegotiation of France's membership of the European Union, followed by a referendum on EU membership if a satisfactory outcome cannot be achieved.

Melenchon has experienced a surge in popularity in recent days and is now thought to be level in polls with the main conservative candidate, Francois Fillon. The frontrunners are centrist Emmanuel Macron and far-right candidate Marine Le Pen.

The first round of voting is due to be staged on April 23.