Wednesday, November 26, 2014

Swiss off their nose, to placate their left?

Switzerland's voters will have a chance to show their business-like attitude this Sunday;
Switzerland's system of charging foreign residents with no gainful activity in the country a lump sum based on their living expenses, instead of taxing assets or income, has helped make it a popular home for the super rich.
Which just grates on some;
Five Swiss cantons including Zurich have abolished the lump-sum tax, but the left-wing Social Democratic Party gathered the necessary 100,000 signatures to force a vote on doing away with it at the national level.
Even though in 2012 it brought in almost 700 million Swiss francs (about $725m USD) from wealthy people who otherwise would choose to live elsewhere. Polling suggests the lefties will lose their gamble.

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