Free Republic
Browse · Search
Topics · Post Article

Skip to comments.

Germany: Schäuble moots hiking 'solidarity' tax to help rescue budget
The Local (Germany) ^ | 06/03/10

Posted on 06/03/2010 5:57:20 PM PDT by TigerLikesRooster

Schäuble moots hiking 'solidarity' tax to help rescue budget

Published: 3 Jun 10 18:32 CET


As the German government scrambles to rein in the ballooning deficit, Finance Minister Wolfgang Schäuble has reportedly proposed a hike in so-called 'solidarity' surcharge - the unpopular reunification tax.

In one of the more surprising ideas being thrown about, Schäuble stunned his senior colleagues by suggesting raising the Soli surcharge from the present 5.5 percent of a worker’s income tax to 8 percent, the Financial Times Deutschland reported Thursday.

The solidarity surcharge was set up nearly 20 years ago to pay for the revival of the moribund former communist eastern states. In recent years there have been growing calls to scrap it altogether.

But in the midst of Germany's worst modern budget crisis, all ideas are on the table as the government prepares to squeeze savings and boost revenue wherever it can. other ideas include a hike in tobacco tax, a new fuel tax for electricity generated by nuclear power could be introduced, and a surcharge on airline tickets.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: budgetdeficit; germany; solidaritytax
I suppose it would hold off Germany going over the edge for a few months, when it is said and done.
1 posted on 06/03/2010 5:57:21 PM PDT by TigerLikesRooster
[ Post Reply | Private Reply | View Replies]

To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...


2 posted on 06/03/2010 5:57:46 PM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson