You've made yourself very understandable, thank you for explaining further. Doing a Francs to Dollars conversion, 80,000 francs is around 90,000 USD. This is much lower than it should be in my opinion. For comparison, Biden's proposed wealth tax would only affect people with $1 billion in assets or people $100 million in income for three consecutive years[1]. This is not only less than 1% of the country, it's less than .01% of the country. I think the asset numbers are a bit high but as proposed, only the Musks and the Zuckerbergs would be affected.
So the only issue I see with the Switzerland tax situation is that the numbers are too low and should be higher. The incentive should be to get people investing in the economy but not to a point of hoarding.
Yep, indeed this kind of wealth tax would seem much more popular. I wonder how well it would do in a federal vote in Switzerland.
I am very much in favor of increasing taxes for the very wealthy ($100 million in net worth seems like a good start).
I just don't want that kind of tax to do collateral damage to middle-class people. For example, Switzerland doesn't have capital gains tax (!!!) except if trading is your profession. If we introduce capital gains tax, sure it will tax the rich but they will be able to wave it off while middle-class investors will get hit too. That's why I said in my initial comment that it could be wise to only tax those that invested for less than 10 years. We could also imagine a system where your capital gains are taxed based on your net worth after the trade.
So the only issue I see with the Switzerland tax situation is that the numbers are too low and should be higher. The incentive should be to get people investing in the economy but not to a point of hoarding.
[1] https://www.pbs.org/newshour/nation/whats-the-so-called-weal...