Fairer Taxation of High-Income Earners Sought
Berlin, January 23, 2025 (hib) – A fairer taxation of high-income earners is being sought by the German Society for Consumer Protection (vzbv). The vzbv proposes that the top income tax rate be raised, the wealth tax be reintroduced, and tax loopholes closed.
According to the vzbv, the current tax system is unfair because it disproportionately benefits high-income earners. The top 1% of earners currently pay less than 20% of their income in taxes, while the bottom 50% of earners pay more than 40%. This is due to a number of factors, including the fact that high-income earners have greater access to tax loopholes.
The vzbv is calling for a number of reforms to the tax system to make it fairer. These include:
- Raising the top income tax rate to 50%
- Reintroducing the wealth tax
- Closing tax loopholes
- Increasing the minimum wage
The vzbv estimates that these reforms would raise an additional €100 billion per year, which could be used to fund essential public services such as education, healthcare, and social security.
The vzbv’s proposals have been met with mixed reactions. Some economists argue that raising taxes on high-income earners would stifle economic growth, while others contend that it is necessary to reduce income inequality.
The German government is currently considering a number of tax reforms, but it is unclear whether any of the vzbv’s proposals will be implemented.
Gerechtere Besteuerung von Hochverdienenden angestrebt
The AI has provided us with the news.
I’ve asked Google Gemini the following question, and here’s its response.
Kurzmeldungen (hib) a new article on 2025-01-23 13:02 titled “Gerechtere Besteuerung von Hochverdienenden angestrebt”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
55