Germany government slates 'Robin Hoods' wealth tax

By: Wajiha Malik

An alliance of non-profit groups and unions wants to see Germany's super-rich to pay more to keep the state from going broke.

The coalition of unions, social organizations and NGO's has launched a new push for a higher tax on top earners in an attempt to cap the rapidly growing national debt and enable greater investment in education and renewable energy.

They follow the German Institute for Economic Research (DIW) which suggested last month that people with a substantial private fortune be made to spend 10 percent of what they have over €250,000 on government bonds.

The coalition,calling for a permanent restoration of the property tax and a one-time capital tax on Germany's richest, as well as more taxes on inheritance and investment income.

"The time is ripe for redistribution," said Frank Bsirske, the head of the service union Verdi, who added that as long as Germany was a tax haven for the wealthy, heirs and speculators.


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