2023-12-17 21:09:31
#5 It’s like the poor people who protest the “confiscatory nature” of the Wealth Tax.
For example, in Madrid there are about 20,000 people with assets greater than 2 million (after exemptions from the minimums) who would have to pay taxes of around one billion euros for the ~175,000,000,000 euros they have in assets. ~1 euro for every 175. An average effective rate below 1% for people with an average fortune of around 9 million euros.
And in the end, for complaining so much, the poor Community of Madrid has no choice but to subsidize that state tax by subtracting those ~1,000 million from other autonomous items such as health, education, etc… and don’t let the gentlemen get angry, lest they will not pay taxes elsewhere.
#inheritance #tax #sense..