Skip to comments.New German government to slash taxes
Posted on 10/24/2009 4:23:11 PM PDT by wolf78
BERLIN Germany's newly elected government unveiled its plans for the next four years on Saturday, spearheaded by 24 billion euros of tax cuts in spite of the country's mammoth debt mountain.
"It is all geared to creating jobs," Chancellor Angela Merkel said, calling the coalition pact, finalised after three weeks of tough negotiations in the early hours of Saturday, Germany's "answer to the crisis."
"We have agreed a coalition programme showing that we want to advance courageously into the future," she said. "We are aiming for growth, for the creation of an education republic and social cohesion."
"The burden on families has to be lessened, the burden on companies and inheritance tax has to be reformed," Merkel told reporters.
Merkel, 55, won a second term in elections on September 27, ditching her previous coalition partners, the centre-left Social Democrats, in favour of the pro-business Free Democrats (FDP).
The cuts, some of which will take effect from January 1, 2010, come despite the parlous state of Germany's public finances, with the national debt currently standing at around 1.5 trillion euros (2.25 trillion dollars) -- and growing fast.
Germany already spends tens of billions in interest payments on its debts each year, and it will borrow hundreds of billions of euros more over the next few years as the country reels from its worst recession since World War II.
The new government argues that the economic growth that the cuts will trigger will help cover the cost, together with as yet unspecified reductions in public spending.
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You Go Girl Chancellor!
Ever thought that we would look to Germany as a model of economic policy?
Germany needs to, uh, go serious nationalist, uh, again.............Might be the only way to save all of Europe.
They’re cutting taxes to create jobs. So, they are leaving more money with the productive people who made it and letting them decide whether to spend it or save it or invest it. What a novel concept!!!!!!!!
Encourge Job creation
No cap and trade
do what ever it takes to get the economy going and growing again.
You know the major difference?
No Obummer, Nancy and Harry along with the Rat party.
Germany is the new hope of the world.
Deporting every “immigrant” on welfare will help quite a bit.
This German socialist Merkel can admit the obvious relationship between tax cuts and job creation only because she doesn't NEED massive, increasing unemployment in order to pass socialist health care. Ubama, on the other hand, will not cut taxes and will in fact increase them dramatically by allowing the Bush tax levels to sunset. Ubama NEEDS more desperate unemployed Americans in order to pass his socialist health care.
Tough crap for those who are unemployed. Tough crap for America.
"Congratulations, America, on your historic election."
Back at the ranch, the rats prepare to drop a tax bomb on the economy to continue their war on capitalism.
Ich bin ein Berliner on economic policy.
We just wont participate.Its the only way to fight it.
Are you paying attention 0bama? No, I didn't think so, you dipstick.
germany has a more pro-american government than america. odd, ain’t it?
So long as they don’t get notion to start oppressing the Jews and not go goose-stepping outside its borders. Putting a stop to Muslim immigration and kick the rest of them out I’m ok with that.
“I am a Jelly donut”
did you all know that WESTERWELLE already has come out of the closet??!
How will he be foregin minister in the Arba countries???Hmmm.
Cleverly said...money trumps all!
They used to call it the “German disease” in the 1900s. Not that there’s anything wrong with it. lol.
Has the world turned upside down?? France and Germany are more conservative economically than we are???
And when this works well for Germany by next year, what will President O be saying???
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