Billionaire Ignites Debate Over Who`s Rich Before Czech Election

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Czech income tax is now a flat rate of 15 percent, with a ?solidarity? tax of 7 percent on any income that exceeds the annual average by 400 percent.
Czech billionaire Finance Minister Andrej Babis took aim against his governing partner, Prime Minister Bohuslav Sobotka, by challenging his proposal on how to tax the rich before fall elections.
?I don?t think it?s a good idea, as proposed by the Social Democrats, to penalize people with income over 50,000 koruna? a month, Babis told the party congress, which re-elected him as chairman.
Babis, whose ANO party leads opinion polls ahead of this fall?s parliamentary ballot, vowed to cut income tax for earners with monthly salaries of less than 113,000 koruna ($4,417) and keep levies for everyone else unchanged.
Their squabbles have only increased as the chemical and agricultural tycoon?s lead in polls has widened.

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