On the night before the federal government re-assesses the wealth tax, the only clear feature of the measure is that it that it may help Rubalcaba get some votes. This would counter what happened with the constitutional deficit limit, which Rajoy benefited from the most.
Blanco explained yesterday that the tax will affect 90,000 taxpayers (or slightly more given the estimations were made using 2007 population data), but Rubalcaba updated the estimation and claimed that the number is actually between 200,000 and 300,000.
This figure feels a little high, not to mention imprecise, if the minimum exemption is set at one million euros.
Counting the extra tax revenues, initial estimated revenue calculations of 1.4 billion are dropping to 1 billion. The old wealth tax was considered ineffective and abolished in 2008.
