Switzerland’s voters rejected, on 28 November 2010, a proposal to increase taxes for the nation’s top earners, following the recommendations of most national leaders.
In a referendum, 59% of voters turned down the proposal by the Social Democrats to enact minimum taxes on income and wealth. Residents would have paid taxes of at least 22% on annual income above SFr250,000 ($249,000), according to the proposed changes.
Switzerland’s executive and parliamentary branches had rejected the proposal, saying it would interfere with the cantons’ tax-autonomy regulations. The changes would also damage the nation’s attractiveness, the government, led by President Doris Leuthard, said before the vote.
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The rejection of Switzerland's tax proposal in 2010 by a 59% majority reflects the nation's commitment to fiscal autonomy. Despite Social Democrats' push for minimum taxes on high earners, voters aligned with national leaders who warned of potential economic damage. The proposed changes, including a 22% tax on income exceeding SFr250,000, were deemed intrusive to cantonal tax policies. President Doris Leuthard's government emphasized preserving Switzerland's allure for investors, underscoring the delicate balance between taxation and economic competitiveness.
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