Enough With Tax Breaks For Millionaires, Say 100,000 Swiss Citizens Who Vote

A tax system that has attracted wealthy foreigners like singer Phil Collins and Formula One driver Michael Schumacher to live in Switzerland will be put to a vote to see if voters want to scrap it.

Left-wing parties and trade unions said Friday that they had collected 100,000 signatures needed to put their proposal,"Enough with tax privileges for millionaires," in a referendum.

Switzerland has attracted more than 5,000 wealthy foreigners with tax deals based on the rental value of their property rather than their actual income or wealth.

Switzerland's other expats include Tina Turner and the IKEA furniture store founder, Ingvar Kamprad.

Congressmen visit their bank accounts in Switzerland -- a two hour layover while they visit their money -- before heading to points east, west and south on their annual junkets.