French companies will pay a 75% tax on all salaries higher that one million Euros, the French President, Francois Hollande announced Thursday evening.

Mr. Hollande said that “the company will have a contribution to pay that will reach 75%. During these difficult times, can’t those that are at the top make an effort for 2 years? The company will thus become responsible”. “When the salary of a CEO reaches above one million Euros, the company will be taxed...