The Strategist

Spanish Labor Minister calls for permanent tax on the rich

06/15/2023 - 10:37

Yolanda Diaz, Spain's second vice president and labor minister, argued that taxation of the wealthy should be permanent rather than transitory.

"It is unfair that a huge corporation only pays 3.9 percent in taxes but a barbershop pays 17.5 percent. Spain needs a thorough overhaul of its tax structure, which should include a substantial corporate tax reform as well as a permanent tax on large estates. The wealthy ought to invest more," she said on Twitter.

Diaz, a candidate for prime minister of the Kingdom in the general election slated for July 23, brought up the tax in her campaign platform. Among other things, her officially registered socialist political party supports modernizing and democratizing Spain's economy.

"Productivity is the most crucial prerequisite for our society's wellbeing, not only a macroeconomic measure. Spain's productivity is 25 points below the average for Europe, which is unacceptable," she added.



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