Swiss Reject Millionaire Inheritance Tax Fearing Exodus of Rich
Voting posters in favor of a 50% inheritance tax on super-rich residents, in Geneva, in November.
Photographer: Fabrice Coffrini/AFP/Getty ImagesSwitzerland voted to reject a 50% inheritance tax on super-rich residents after wealthy entrepreneurs threatened to leave the country.
The plan was opposed by 78.3% of the electorate, according to government data on Sunday. Polls ahead of the plebiscite had suggested such an outcome. With turnout at 43%, the measure didn’t achieve a majority in a single canton.