Even Switzerland Is Discussing How to Tax the Super-Rich
Wealthy entrepreneurs have threatened to leave over inheritance tax proposals.
Alpine resorts like St. Moritz are known as playgrounds for the ultra rich.
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To escape a wealth tax hike in his homeland, real estate magnate Tord Kolstad left Norway two years ago. But the danger has followed him south.
Switzerland, Kolstad’s new home, is in the midst of a heated debate about inheritance taxes on the super-rich. The proposal — to take half of any passed-on wealth above 50 million francs ($59 million) — has prompted public warnings from business-owning multi-millionaires and billionaires that they’ll go elsewhere.