Two weeks before the national elections in Germany, the struggling leftist party (or “dye linke”) has determined a new tax concept targeting Super-Rich. The declared target is to cut the assets of billionaires in half within a decade.
Prior to the paper of the party’s co-president Jan Van Ekan States, before underlining the five-point plan designed to make this post a reality, “We are confident that there should be no billionaire.”
Germany is scheduled to hold parliamentary elections on 23 February.
On the left side is currently hovering around 5% support which is necessary to legally enter Parliament. Even if they clean this obstacle, large parliamentary groups usually avoid working with the Communist Party, so the Lefts actually seem thinner to apply thesis policies.
What are the left -wing new tax plans?
The party proposed to resume Germany’s “Dhan Tax”, which was considered unconstitutional by the Constitutional Court in 1995.
This tax was not focusing on income, but was on the money earned by the people.
The party proposes a sliding scale, 1%for the fate of more than € 1 million ($ 1.03 million), 5%for more than € 50 million, and 12%for more than 1 billion.
Subsequently, the party makes a call for a one-band fairy for the richest 0.7% of the citizens, which starts at 10% for people with more than 2 million, and grows up to 30% for a large amount.
The party aims to have high heritage tax for large estate, and high rate of income tax for top earnings. This will include 60% income tax on salary above € 250,000 and 75% for more than € 1 million.
Finally, Capital Benefits Tax should no longer have a flat 25% fee, but should work on a sliding scale like income tax based on the limit of profit on assets.
The party’s co-leader van Ekan created the new ‘super-rich’ similarities as the US government
While starting a new proposal, van Ekan told the new administration of Donald Trump in the US.
“The new government is made up of super-prosperous and rights, who are doing everything to secure their fate and their power,” said.
Even in Germany, van Aquen argued, very weeds used their luck to secure inappropriate political effects.
The Left party was struggling in elections in recent years amidst the rise of far-flung AFD. While the leftist party pulls political roots in the GDR now-a-domestic GDR from the former socialist rule, this area is now a stronghold of the AFD.
The thesis was further increased when former Left Left Sahara Wagonachat separated from the party to build his own Sahara Wagoncket Alliance (BSW).
Edited by: Darko Jenjeevic
