Government To Impose a 90 Percent Tax On the Rich?

Tax is a sensitive matter as there is a strong criticism that the taxes would be imposed on normal people and the rich would get protection from this. However, this might be changed as there is a big buzz that the rich might attract a massive interest and the guidelines for this might be issued soon.

It is known that the New Popular Front (NPF) which is known as a hardcore left emerged as the largest party in terms of the seats. The alliance is gearing up to form the government and amid this everyone is talking about the tax on rich people.

Media reports are abuzz that the rich might get a 90 percent tax. If everything goes well we might hear the directives from the administration. There is a reason for this. In the campaign, the alliance listed a few promises, and increasing the taxes is also among them.

The alliance said that it would reduce the prices of fuel and essential products and it would reduce the retirement age to 60. But its view on taxation created a sensation as it said it would slap a 90 percent tax.

The alliance said that those who have an annual income of above €400,000 would have to pay 90 percent tax. Now the issue is getting a lot of attention with people wondering what the alliance would go.

People are giving different opinions on this. While a section of people support this saying that the amount would be used for the public and the costs would be brought down. The other section is opposing as people say imposing such a large amount of tax would take away a major share of wealth and there should be a second thought.