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"The SPD basically wants those who have a lot to do more to finance the common good," SPD leader Lars Klingbeil has just announced via "Bild am Sonntag". Sounds good - and has been happening for a long time. The top one percent of the top earners in Germany alone shoulders almost 23 percent of the total income tax revenue, the top ten percent bear almost 56 percent.
So Klingbeil is trying to catch votes for his party with a demand that has long since been met. This may even be understandable for a party that used to be a workers' party and advocate for the poor - but there are currently no good arguments for a higher tax burden. On the contrary.
Tax revenues are bubbling up despite the gloomy economic outlook. The high inflation rate and the low unemployment rate mean that the coffers are full: the more expensive products become, the higher the VAT revenue. And the more people are employed, the higher the income tax revenue. So the state shouldn't have an income problem.
In addition, Germans currently have to shell out the top tax rate with an annual income of just under EUR 58,600. This is by no means an income with which employees can easily put up with the high inflation.
Instead of talking about higher burdens for the rich and supposedly rich, the traffic light parties should think about long-term effective relief and not always put together new feel-good packages for their own clientele on the expenditure side.
It would make sense, for example, to have an annual automatic and complete compensation for cold progression and higher tax allowances, especially for low earners, single parents or families with many children.
Before Klingbeil and his party talk about higher taxes for higher earners, with almost 850,000 vacancies and around 3.2 million unemployed, they should first consider whether they don't have better ideas than a citizen's allowance, so that performance is worthwhile for everyone again.
"Everything on shares" is the daily stock exchange shot from the WELT business editorial team. Every morning from 7 a.m. with the financial journalists from WELT. For stock market experts and beginners. Subscribe to the podcast on Spotify, Apple Podcast, Amazon Music and Deezer. Or directly via RSS feed.
