Geneva Vote Targets Richest 1% With $475 Million of New Taxes
- 3 million-franc threshold would incur extra levy for a decade
- Proposal is legacy of pandemic-era popular initiative
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For a few thousand millionaires in Geneva, a regional vote in the next few days could have a lasting impact on their wallets.
The June 18 ballot will ask citizens in the affluent lakeside city-canton whether to slap an extra “solidarity” levy on individuals with more than 3 million francs ($3.3 million) to their name for the next decade.