Reply to California's Wealth Tax

Forum Index » Political Discussion

Reply to "California's Wealth Tax"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Switzerland has Cantonal-level wealth taxes that bite quite low (around 50K-200K taxable net worth after deductions). This translates to about 50% of the population paying wealth taxes each year.

https://thepoorswiss.com/wealth-tax/

No one is arguing that Switzerland is bad for business. [/quote]

Switzerland also keeps out nearly all immigrants, and had a total population that is not much more than the population of Los Angeles. They also don’t have a startup culture and new groundshaking companies almost never come out of Switzerland.

Ludicrous comparison, made by someone with no understanding of economics.[/quote]

40% of the Swiss population is foreign born (vs. 16% in the US). Switzerland is highly reliant on immigrant labor, both skilled and unskilled.

[/quote]

I agree that Switzerland needs foreign labor (just look at any hospital, full of doctors and nurses from the EU). That being said, a good junk of "foreign born" people are actually children born there since Switzerland doesn't have jus sanguinis.

But the Swiss wealth tax works because their overall taxes are pretty low (on federal / cantonal levels, not just the wealth tax) and tax revenue is responsibly managed. California doesn't have either of that.

Also, whatever they propose isn't going to pass anyway, given how Prop 15 didn't pass 5 years ago. California isn't that progressive.

Nevertheless, the Google guys have cut their ties.

https://www.nytimes.com/2026/01/09/technology/google-founders-california-wealth-tax.html[/quote]

Top tax brackets in Switzerland are very similar to the U.S. - 37% in Zurich, 39% in Basel, 43% in Geneva. And that’s before the wealth tax and mandatory pension contribution of 5% of income by the individual.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics