I see a lot of ‘tax the rich’ pushes, but I’m curious on how. It’s not like billionaires get a normal salary, so I wonder what it actually is - is it taxing assets over a certain value or something?
I worked for a family office in Switzerland and the “salary” from the company to our owner was an entry level salary for compliance/presence purposes. He couldn’t care less about that being taxed.
”Mag n’ Cheese” got me…!
Yeah, but I doubt average Americans think about international relations and macro trends in that way when voting. The economy is “booming”, but people are not experiencing the boom, and are rather complaining about increased cost of living, coupled with rising crime in cities like NYC due to a challenging refugee situation.
If I was a betting man, that will score higher in the voting booth than Middle East policies, NATO, green new deal or RvW, and I think there are a number of democrats who are unhappy, but won’t necessarily vote for Trump, however they might not be voting Biden either.
The Swiss actually has wealth tax, depending on canton. I believe though a lot of it is negotiable- if you’re super wealthy, I think you can agree a fixed amount per year with your canton (state).
In my canton you’re exempt from it if you have less than $250-300k in assets or something like this. And it ranges from something like 0.20-1% I believe.