By Ariane Luthi
ZURICH (Reuters) -Switzerland will vote on a proposed wealth tax on Sunday that will be a litmus test of appetite for wealth redistribution in one of the world’s richest countries.
The proposal from the youth wing of the leftist Social Democrats, or JUSOs, is for a 50% tax to be levied on inherited fortunes of 50 million Swiss francs ($62 million) or more to fund projects to reduce the impact of climate change.
Around 2,500 taxpayers in Switzerland have assets worth more than 50 million francs, according to Swiss tax authorities, with a total wealth of about 500 billion francs.
With as many as two-thirds of respondents against the proposed tax in recent polls, the measure is widely expected to fail, turning attention to the level of support.
COST OF LIVING CONCERNS
Swiss Wealth Tax Proposal to Test Public Appetite for Redistribution
