Economic Association: Babler’s millionaire tax is a tax on middle classes

2023-10-17 11:45:30

Egger: SPÖ wants to use redistribution fantasies to turn people in this country into supplicants of their politics

Vienna (OTS) – “Millionaires’ tax, rich people’s tax, wealth tax. No matter what Babler calls his new tax fantasies, in the end there is only one thing left: it affects the middle class in this country. Austria is a country with the highest taxes. The labor factor in particular is heavily taxed. Instead of delivering proposals that would provide tax relief for working people, the specter of the wealth tax, now called the millionaires’ tax, still haunts the SPÖ’s campaigns. Insisting on a wealth tax in which more than a third of the revenue is lost in the bureaucracy shows once once more that the SPÖ would rather practice populism than want real relief for the people of Austria. Cashing in once more on money that has been taxed several times, often following something has been built up over several generations, only affects medium-sized and medium-sized companies, as the latest study on wealth taxes by tax law professor Matthias Petutschnig shows. Accordingly, the smallest companies in all simulations would have the highest average inheritance and wealth tax burdens in relation to annual net income. The Babler-SPÖ must make it clear that the middle class is not their personal self-service shop for new taxes,” said WB General Secretary and MP for NR Kurt Egger.

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Austrian Economic Association
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