Why the Swiss Choose to Pay Their Taxes Early

09.11.2016 • Central Banks

By Federico Tessore – Investor Passport (Argentina) –

What if I told you that there is a country whose citizens LOVE to pay taxes? No, I’m not talking about Argentina. I’m talking about a country where taxpayers not only don’t try to evade taxes, but they pay them in advance!

Am I insane?

This is no exaggeration. It is the honest to goodness truth.

To understand why this happens, we have to look back at the 2008 unchecked credit crisis in the US that nearly brought down the whole north American financial system. The US government addressed it by having the US Central Bank issue fiat money. European and Asian banks followed course.

With the market flooded with cash, interest rates plummeted into negative numbers and remain there to this day.

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