PARIS (AP) — In a major turnaround, French President Nicolas Sarkozy and his indebted government are abandoning a tax ceiling for big earners he once hailed as key to modernizing France and luring investors.

This is Europe, so we don’t know how these high earners actually made their money. If it was through effort and achievement in the marketplace, then I’d say they earned it. But if is the result of gaming the system, then what is the point of the tax in the first place? Raise taxes on a group then have that group figure out how to get it back.