Who says liberals can’t create wealth? In a twist worthy of John Kerry or Howard Dean’s economic programs, the newly official Grand Coalition of German Social and Christian Democrats is about to create thousands of nouveaux riches. It’s for the common good, of course: “rich” people need to pay more than their “fair share.”
Accordingly, German politicos are living the Democrat dream: They are about to launch what is called a “Reichensteuer” - literally “rich people’s tax” - an extra 3% tacked on to the already staggering burden of the German taxpayer. To broaden the base - spread the wealth, so to say - they want to make people rich, the liberal way. Not by allowing them to earn and keep more but by lowering the standards for wealth. Where it used to take a single earner 250,000 euros a year to qualify as “rich” in the eyes of the politicians, now you only need 130,000 to join the club of the super wealthy. Multiply the threshold by two if you’re married.
Finally, those Americans still discontented with the Bush Administration’s tax policies can seek refuge in Germany. I advise caution, though: You might get run over by all those wealthy Germans seeking the safe harbor of low-tax jurisdictions - such as the United States…
J. Christoph Amberger Executive Publisher and The Taipan Group’s
247profits e-Dispatch Team
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