It's a monstrous disincentive to increased productivity. If you're a smart, ambitious person who wants to work hard and advance your lot in life, are you really going to stay in Spain knowing that the government is going to take half of everything incremental thing you do?
This is basically inviting your best and brightest to move to the US and other low tax countries.
This is basically inviting your best and brightest to move to the US and other low tax countries.