Swiss voters Sunday overwhelmingly rejected an initiative that would have imposed a federal inheritance tax.
Roughly 71% of voters opposed the initiative.
The initiative would have slapped a 20% tax on inheritances of more than 2 million Swiss francs ($2.2 million) passed directly onto children.
At present only four of Switzerland's cantons impose inheritance taxes on wealth inherited from a parent. Heirs other than children pay rates ranging from 50% in Grisons to nothing in Schwyz.
-RW
Switzerland is still an actual federation. The US is not, certainly since the "Federal" Income Tax was established, an end run around the states. But that and the other mechanisms that destroyed the US federation were made possible by the states conceding to the US Supreme Court the right to interpret the Constitution. Utter stupidity.
ReplyDeleteMan, the more I see, the more Switzerland looks appealing.
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