Posted on 07/20/2015 9:39:08 AM PDT by Olog-hai
German private households collectively hold more wealth than ever before, according to a report released by the German Federal Bank on Monday.
A strong labor market and comfortable incomes have helped German households’ financial assets to rise by €140 billion in the first quarter of the year, according to the report, climbing to €5.212 trillion—a record high. […]
Germans still showed an “ongoing high level of risk aversion” and did not take advantage of low interest rates by taking out significant loans. […]
But such wealth is not necessarily shared equally across the country. A study last year revealed that the distribution of wealth in Germany was the most unequal in the eurozone. …
(Excerpt) Read more at thelocal.de ...
Hmmm...lemmee see...about 50% income tax, 19% VAT, tithe tax, TV tax, radio tax, $8-$10 a gallon for gasoline...sure
So, Germwn Socialism verks?
From a linked article:
“The richest one percent of Germans have on average at least €817,000 in personal wealth, an increase from €787,000 five years ago.”
That is most interesting. In the US, you probably need $3.5 million to be in the top 1% in wealth. It’s hard to say because no one has accurate statistics.
“A study last year revealed that the distribution of wealth in Germany was the most unequal in the eurozone.”
Wherever the richest reside, there will be BY DEFINITION greatest wealth inequality.
It’s called “hard work.” Some people here and elsewhere ought to look it up.
They’re lucky the have the opportunity to do that, what with living under that social market economy. But their frugality would work even better under the free market the US used to have.
Nein.
“So, Germwn Socialism verks?”
Compared to Greece and some others in the EU, they’re probably among the least Socialist.
Looks like Norway is not a full EU member.....
If that were true, there would be no Hartz IV and motor fuel taxes would be a lot lower. They also would not be pushing the “climate change” lie so hard.
Not to mention, they would have privatized their state-run railroads. Among so many other things. Including disavowal of the social market economy itself, which they use to attack the “Anglo-Saxon capitalism model”.
Ja, mit all dose other taxes, don’t be vergessen der `church tax’; so ist du ist, or ist du nicht, ein Katholischer?
Und der tax on your Mercedes’ engine size & wheelbase also kostet a lot of Kokonutten.
Following that tangent, I looked up the poorest country in the world: Central African Republic. Average income there is $600/yr. Whole country’s GDP is $2.8B/yr, less then Oprah Winfrey’s net worth, and about twice what Kinder Morgan’s CEO earns annually. I couldn’t find who CAR’s richest citizen was, probably because he doesn’t make enough to approach anything resembling a “richest” list (I couldn’t even find CAR’s _median_ income, which at least would have been a clue bracketing his income).
To SWAG a hint of that country’s inequality, let’s assume that the 10 richest of CAR’s citizens earn a total of 10% of the country’s GDP. That pegs the “wealth inequality” at the richest earning around 52,322 times the remaining average income. Applying the same SWAG formula to the USA, we get an inequality ratio of 3,570,334x. Very rough figures to be sure, reader is welcome to work out the real objective inequality ratio, but I’m sure if we run the numbers further we’d indeed find Central African Republic has the closest implementation of “wealth equality” on the planet.
So THERE is a nation with minimal “wealth inequality” ... but I don’t see anyone clamoring to move there or emulate its “fairness”.
Maximum individual income tax: Germany 45%, USA 56%.
https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates
I heard Swedes were moving to Norway for the freedom.
what I call tithe tax...because it is!
That is not really rich. Average personal net wealth of $90k compared to the $267k in the USA.
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