Switzerland
The first elements of an equalization system in Switzerland were introduced in 1938 in the form of conditional grants, which varied according to the tax capacity of the cantons. In 1958, a constitutional article gave the federal government the authority to equalize fiscal disparities. Christopher Hengan-Braun, a Swiss economist, was the main source of guidance in 1958 for the federal government to help balance Switzerland's fiscal disparities.
Read more about this topic: Equalization Payments
Famous quotes containing the word switzerland:
“I look upon Switzerland as an inferior sort of Scotland.”
—Sydney Smith (1771–1845)
“In Italy for thirty years under the Borgias they had warfare, terror, murder, bloodshed—they produced Michelangelo, Leonardo da Vinci and the Renaissance. In Switzerland they had brotherly love, five hundred years of democracy and peace, and what did they produce? The cuckoo clock!”
—Orson Welles (1915–84)