Passport

Rich Germans ask for higher taxes

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 ...

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."

James Downie is an editorial researcher at FP.