Switzerland: inheritance tax for future rejected
Two referendums were held in Switzerland this week. An initiative aimed at introducing a 50-percent inheritance tax on wealth exceeding 50 million Swiss francs (53.6 million euros) was rejected, with 78 percent voting against the measure, the proceeds of which would have been used to finance climate protection measures. In the other referendum, no less than 84 percent voted against an initiative to introduce compulsory national service for women.
Everyone benefits from wealthy fellow citizens
The Swiss are not easily duped, Corriere del Ticino writes approvingly:
“A yes would have prompted the vast majority of potentially affected taxpayers to leave the country. The resulting loss of revenue would have resulted either in reduced spending and social benefits or, more likely, in higher taxes for those who, as predominantly middle-class taxpayers, cannot go abroad. ... It also seems likely that plenty of wealthy foreigners have already put their plans to move to Switzerland on ice, or at least postponed them, in view of the imminent threat posed by this initiative. So damage was already being done. But the resounding message from the people will boost the country's appeal.”
Over the top and too vague
The two initiatives just went too far on key issues, pronounces Le Temps:
“Both initiatives were contemporary, modern and idealistic – but also, and above all, over the top. ... The young socialists have confused two sensitive topics: inheritance and climate. The messaging was unclear and the proposed tax disproportionate. ... The draft [on compulsory service] was full of good intentions but also a little naive. It would meet neither security needs nor disaster response requirements and would only generate significant costs. ... The initiatives were difficult to read, too vague and inconsistent, and failed to address the population's priority concerns.”