Swiss Government Rejects Super-Rich Inheritance Tax Proposal
The Swiss government rejected a Young Socialists’ initiative to impose a 50% inheritance tax on fortunes exceeding CHF50 million, citing potential negative economic consequences. The government’s statement argued that the tax would harm Switzerland’s reputation and lead to a significant exodus of wealthy individuals, ultimately reducing overall tax revenue. While the initiative garnered over 100,000 signatures, triggering a future public vote, the government’s opposition significantly diminishes its likelihood of success. The government’s assessment projects a net loss of tax revenue due to capital flight.
John Q. Hosedrinker