A majority of Swiss voters on Sunday rejected a proposal to impose a 50% tax on massive inheritances and donations exceeding 50 million Swiss francs. This referendum was a significant event in the country's economic and political life. The initiative was aimed at combating excessive wealth accumulation. The government and business communities opposed the proposal, fearing its negative impact on the economy. Proponents of the initiative, however, argued that it was a fair measure for social redistribution.
