Rich Germans ask for higher taxes

Posted By James Downie Friday, October 23, 2009 - 3:12 PM Share

They're the kind of citizens any cash-starved government would want: a group of wealthy Germans have launched a petition this week calling for higher taxes on wealthy Germans. The group claims that Germany could raise €100 billion if the richest people paid a five percent wealth tax for two years. 

Germany is not known as a low-tax country--tax revenues were 37% of GDP in 2007, in line with other EU countries, and above countries like South Korea (29%) and the United States (28%). The petitioners claim, though, that those who "made a fortune through inheritance, hard work, hard-working, successful entrepreneurship, or investment" should put their money into an economy that, while better off than some other EU counterparts, is still facing rising unemployment through next year.

But deficit hawks shouldn't start dreaming of a shift in worldwide tax perceptions: the petition has fewer than fifty signatures, and, after their most recent rally, one signatory told the AFP that it was "really strange that so few people came."

EXPLORE:EUROPE, GERMANY
 
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GIANTSLOR

2:53 AM ET

October 24, 2009

Rich Americans, too.

This isn't a new idea. The US group Responsible Wealth has been active in this area for years:

"Responsible Wealth, a project of UFE, is a network of over 700 business leaders and wealthy individuals in the top 5% of wealth and/or income in the US who use their surprising voice to advocate for fair taxes and corporate accountability." (responsiblewealth.org)

Warren Buffet and Bill Gates, Sr. are among the organization's supporters.

Also this: "Some of wealthiest say go ahead, tax us" "http://www.usatoday.com/money/perfi/taxes/2005-04-05-walton-side-usat_x.htm"

 

NEWSBLAZE

12:22 PM ET

October 24, 2009

I don't think it's surprising

I don't think it's surprising that some people think this way. What I don't know is if others aren't interested in that because they feel that government will just waste it anyway, as they always do.

Government should make it easier to increase jobs, rather than increase taxes.

 

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