Germany’s Left Party Proposes Halving Billionaires’ Wealth
Germany’s Left Party, currently polling near the parliamentary threshold, has unveiled a sweeping tax plan aiming to halve billionaire wealth within a decade. The proposal includes reintroducing a wealth tax with a sliding scale, a one-time levy on the wealthiest 0.7%, increased inheritance and income taxes for high earners, and a revised capital gains tax. Despite these ambitious goals, the party’s prospects for implementing this plan remain uncertain due to their historically low support and potential difficulties in forming coalitions. The plan’s release comes as Germany prepares for national elections.
John Q. Hosedrinker