German Political Party Die Linke Pushes For 100% Tax On the Wealthy

By Stephen Fuchs on Email @StephenWFuchs

Die Linke

Here in America we are no strangers to hearing about crazy political ideas at times, but what Germany’s fourth largest political party, Die Linke (also known as the Left Party) is proposing has to be one of the craziest.  For the upcoming September elections, the Left Party is planning on pushing a 100% tax on anyone that earns more than €500,000, which is more than “40 times the societal minimum,” according to a statement given to the Mitteldeutsche Zeitung by group co-leader Katja Kipping.

This stance is a pretty bold move for a party looking to gain more political power, but they believe that the wealthy should be responsible for funding social welfare and that by earning too much, the rich are holding back growth in Germany’s future.  Bernd Riexinger, Die Linke’s other co-leader mentioned that “explosive inequality is threatening democracy… I call capping income at half a million euros a democracy tax.”

A political party pushing an agenda like this would have trouble gaining any traction in the US, but Die Linke seems to have a large amount of members in Germany.  It will be interesting to see if this 100% tax stance will cause the party to lose power in the Fall or if there are enough Germans that feel the same way.  Depending on the reaction the party receives, I wouldn’t be surprised if they scale back the percentage a bit.  I would love to hear from our German readers to get their take on the party and this tax issue.

 

Source: The LocalMitteldeutsche Zeitung
Photo by linksfraktion via flickr

Stephen Fuchs
Stephen founded German Pulse and LGBT Germany out of a passion to introduce Americans to a Germany that goes beyond beer and polka (although with enough beer he has been known to polka it up a bit). He's a coffee addict, lover of wine and good times, a hit in the kitchen and editor of TV commercials. You can follow him on Twitter (@StephenWFuchs) to find out a lot more.
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