France rethinks plan to tax wealthy by 75% THE French government's plan to raise taxes on the wealthy is being radically scaled back after a second legal opinion said the proposed marginal rate of 75 per cent was unfair. France's highest court had already thrown out the 75-per cent rate, and a high-level advisory council agreed. The Socialist government on Friday said that under the decision, the rate on those with incomes of more than 1 million euros ($A1.25 million) could not exceed 60 per cent. French President Francois Hollande campaigned on a promise to impose the tax, despite criticism that it would do little to solve growing fiscal problems and would drive away the wealthiest citizens. The current top tax rate is 45 per cent. The government says it will introduce a new measure in response to the decision.