Swiss to Vote on 50% Inheritance Tax for Super-Rich in November

Swiss voters will decide in November if the country should inflict a large inheritance tax on the estates of very rich people.

The Young Socialists are pushing for a plan to let the state take half of all assets above 50 million francs ($63 million) passed on after death. A group known as Juso collected 100,000 signatures in favor of the proposal, which aims to use the proceeds to fund measures combating climate change.

While parliament and the government are against it, the rules of Swiss direct democracy now require that a plebiscite must be held on the ...