Swiss Nix 50% Tax On The Rich Mean To Fight Climate Doom

Doing Something about ‘climate change’ is always an interesting theoretical conversation, but, once it enters the real world the rational people, and, heck, lots Basic Warmists say “nope

Swiss voters reject tax of up to 50% on large donations or inheritances, fearing exodus of wealthy instead of fighting climate change

In a referendum, over 84% of voters rejected the “citizen service initiative” and none of the country’s 26 cantons, or states, came anywhere near voting in favor. Proposals need a majority of both voters and cantons to pass.

A separate proposal to impose a new national tax on individual donations or inheritances of more than 50 million francs ($62 million) was shot down by more than 78% of voters. The revenues were to be used to fight the impact of climate change and help Switzerland meet its ambitions to have net-zero greenhouse gas emissions by 2050. (snip through all the info on the national service plan)

The government also opposed the proposal for a new tax on large donations or inheritances, arguing that approval could prompt some of the wealthiest in Switzerland — an estimated 2,500 people — to move elsewhere. Sums beyond 50 million francs ($62 million) could have been hit with a 50% rate.

$62 million. Seems rather a lot. Are the citizens seeing the downside of all the rich folks leaving and taking their money and businesses with them? Because that is literally all there was to this referendum. And, of course, perhaps they saw that the climate cult would then start lowering that $62 million threshold down and down and down

(The Brussels Times) The tax initiative was introduced by the Young Socialists and aimed to fund climate measures using revenue from taxing inheritances and gifts valued over 50 million Swiss francs (approximately €53 million).

The proposal also sought to apply the tax retroactively to prevent wealthy individuals from moving their assets abroad. It was estimated to affect around 2,500 people, representing the wealthiest 0.03% of the population.

Funny how they always want to tax Other People, but, aren’t willing to pay the piper themselves.