Should there be high taxes on assets over one million euros? A majority of people in Germany are in favor of this. The supporters of the Union are surprising with their attitude.
A majority of people in Germany are in favor of reintroducing the wealth tax. This is the result of a Forsa survey for the “Stern” magazine. According to the survey, 62 percent of citizens would be in favor of private individuals and companies having to pay such a tax on assets of one million euros or more. 34 percent are against it.
The initiative is met with approval, especially among supporters of the Greens (84 percent). But supporters of the SPD (79 percent) and the Sahra Wagenknecht coalition (58 percent) are also in favor of it.
It may be surprising that a majority of supporters of the Union (CDU/CSU) would also support such a plan, at 55 percent. However, the CDU and CSU reject a wealth tax. A wealth tax would “endanger Germany’s economic substance and cost jobs,” according to the joint election manifesto.
Lindner against wealth tax
A possible reintroduction is met with clear rejection by FDP voters (78 percent). Party leader and Federal Finance Minister Christian Lindner also speaks out against it again. “Immense declines in employment, investment, economic growth and tax revenues” would be the result, he writes, referring to a study by the Ifo Institute on Platform X. “In the end, we would have lost more than we gained.” AfD supporters (62 percent) also reject this. The survey data was collected from a total of 1,008 respondents.
A wealth tax is being called for by the German Social Association, among others. “Germany does not have a spending problem, we have a revenue problem,” says CEO Michaela Engelmeier. “Super-rich” people should therefore be taxed more heavily.
The wealth tax has not been levied in Germany since 1997 following a ruling by the Federal Constitutional Court. The possible reintroduction is also a controversial topic in politics. The SPD and the Greens spoke out in favor of it during the coalition negotiations in 2021, but the FDP rejected tax increases. The high cost of recording assets is considered problematic.
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
