Frente Amplio launches an app that simulates the collection in the 50 great fortunes of their tax on ultra-rich

Frente Amplio has launched an application called 'Tax the Rich' that allows estimates to be made on the revenue impact that the tax on the ultra-rich proposed by the candidacy for these general elections would have on the 50 largest fortunes in the country, as well as the financing that said tax would provide for the improvement of public services such as health, education or railway transport.

The application is one more step to publicize this tax that the Frente Amplio candidate, Ada Colau, announced this Thursday, consisting of applying a rate of 2% on the total assets for people with more than one million euros, which will rise to 3 percent for those who have more than 50 million euros.

Specifically, the simulation that Frente Amplio proposes with this 'app' consists of selecting the 50 richest people in the country, according to data from Forbes magazine, and applying the type of tax to them to see the collection that this tax would have. Thus, it estimates that all of them add up to around 250,550 million euros.

The candidacy has reported that it provides estimates in this tool, not tax declarations, based on journalistic information about the assets and the collection that would be made if the tax were approved and came into force. Therefore, this simulation would change for each person.

Frente Amplio produces in this application files on businessmen such as Florentino Pérez, Amancio Ortega and his daughter Sandra Ortega, Juan Roig, Rafael del Pino or Alicia Koplowitz, among others.

In this way, the tool allows you to choose these 50 fortunes at a time, in groups or individually and apply one of the options of the effective tax rate and the effective collection of 50, 75 or 100%.

Then, an estimate is made of the improvement that this added financing would mean in public services and distributed in 20 specific fields, such as housing, railways, education or health. For example, it allows us to see kilometers of renovated train tracks, educational places in public education that can be created or teachers and health workers that would be hired.

Frente Amplio estimates, for example, that with a rate of 2% and assuming that 75% were collected, the pool of resources for the public system would be 3,758 million per year. With a rate of 3% and a collection of 100%, it would exceed 30,000 million in four years, more than the 24,100 million of Adif's 2022-2026 investment plan, which the application uses as a goal.

Thus, one of the simulations included in the 'app' includes a collection of 1,109 million between these large assets that, according to Frente Amplio, would allow financing 1,365 Primary Care professionals, opening almost 15,000 public places in education from 0 to 3 years old or building 592 public homes and acquiring another 353 from large holders.

With this application, Frente Amplio invites you to support the 'Let the rich pay' campaign and publicize the effect that this tax would have on improving public services. Likewise, he places this tax proposal as one of the central axes of his electoral strategy.