Wealthy Austrians Are Demanding Their Taxes Be Raised [View all]

http://www.businessinsider.com/wealthy-austrians-are-demanding-to-be-taxed-more-2014-6



Wealthy Austrians have gotten together to demand their government tax them more.

In a cover story in the Austrian weekly magazine Profil, a dozen or so bankers, CEOs, real estate moguls and inheritors say they have a civic duty to give back to a country that's allowed 70% of its wealth to concentrate in the hands of the top 10%, according to France's Libération.fr.

"A wealth tax is not only a question of morality, but also of pragmatism," says Christian Köck, a health economist and businessman who also inherited a large sum. "I don't want to be rich in a society that can't pay to invest in a fair education system."

Austria lacks an inheritance tax, and wealth brackets are not scaled. Property and rent taxes are practically non-existent.

***the Spiritual Home of Austerity.

Read more: http://www.businessinsider.com/wealthy-austrians-are-demanding-to-be-taxed-more-2014-6#ixzz34ERxc9WD