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Emanuel Macron is the “president of wealth”, the president of a wealthy upper class that ultimately finances election campaigns. We Swiss must be experiencing the same unpleasant feeling now. Other than customer politics, what could be the reason why the Federal Council wants to reduce the tax burden on the estimated richest 10 percent by approximately 500 million?
If the Federal Council gets its way, all Swiss people will soon be able to pay their outstanding pillar 3 contributions and deduct them from their taxes. To benefit from this, you need to be able to save around 14,000 francs from your annual income; 7,025 francs for the current payment and a maximum of 7,025 francs for the additional payment.
Retirement statistics in 2022 show that the richest 10 percent can do this; Accordingly, the richest quarter of new retirees receive an average column 3 balance of only 65,000 francs. This meant that they could pay less than 2,000 francs per year of work. This (slightly older study) also fits the bill; Accordingly, only the richest 13 percent earn enough to pay the current maximum amount (let alone double it).
Tax advantage for the rich
But the 7,000-franc tax cut is just the cherry on the cake for high-income earners. For many years, they have been able to deduct additional payments in the second column from taxes. This includes much higher amounts. Let’s give an example: Mr. He can then calculate what his PK capital would be if he always earned this much. Let’s say the difference of 150,000 francs can be deducted in slices.
Assuming that the first tranche is 50,000 francs, 114,000 francs of his 200,000 francs gross income are exempt from tax: 50,000 francs for the second column surcharge, around 30,000 francs for current contributions for column 2, 14,050 francs for contributions and AHV as additional payments for column 3a. about 20,000 francs. Mr.
We save a lot
At a time when rents and health insurance premiums are soaring, pensions are falling, and many are forced to tighten their belts, this tax donation is a surprisingly visceral violation of social harmony. Especially since the necessary savings are often achieved at the expense of the poor. Is this really still “our” Federal Council? This is also a serious mistake from an economic perspective.
Why should we continue to encourage savings? We are already saving a lot. Our two pillars are currently worth about 1,300 billion francs, with another 30 to 40 billion francs being added every year. As a result, the money flowing into real estate increases rents even more.
What does it mean? Who benefits from this? Who manages this “treasury” other than banks and insurance companies? Is “our” Federal Council your Federal Council after all?
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
