So where will these billionaires flee to?
The JUSO (The Socialist Youth), under the Social Democratic Party, are determined to impose a law for a 50 per cent inheritance tax on all residents whose assets exceed 50 million francs (€51 million).
The Vice President of JUSO, Melanie Rufi stated to the Press that the rich should be held “responsible” for climate change, as they “contribute enormously to the destruction of the climate through their investments and consumer behaviour.”
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Jeez, the rich must also be responsible for the boogie man, hypochondria along with other imaginary bad things. I’m so WEARY of seeing the FICTION of man made climate change being blamed for every ill and given as the excuse for every unjustified action by evil people.
Maybe they can tax people coming to Davos.
Lots of Swiss settled in Wisconsin. Part of our state is nicknamed, ‘Swisconsin.’ :)
Come on over! We’d LOVE your billions flowing through our economy. We’re a higher-taxed state, but nothing like 50% of your wealth. ;)
“”The Vice President of JUSO, Melanie Rufi””
Rufi??? Rufi???
Perhaps she self medicates the stuff.
they should build a wall first
Idiots killing the Golden Goose.
Bkmk
When all the rich flee, they'll have 50 billion francs LESS income.
Socialists and liberals always believe the rich will lie down and take it without complaint.
I remember this article in the Wall Street Journal published May 27, 2009:
Maryland's Missing MillionairesThey never learn.Maryland couldn’t balance its budget last year, so the state tried to close the shortfall by fleecing the wealthy. Politicians in Annapolis created a millionaire tax bracket, raising the top marginal income-tax rate to 6.25%. And because cities such as Baltimore and Bethesda also impose income taxes, the state-local tax rate can go as high as 9.45%. Governor Martin O’Malley, a dedicated class warrior, declared that these richest 0.3% of filers were “willing and able to pay their fair share.” The Baltimore Sun predicted the rich would “grin and bear it.”
One year later, nobody’s grinning. One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller’s office concedes is a “substantial decline.” On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year — even at higher rates.
Collectivists never learn. Not in the US, not over seas...