Business & Money
Members of the initiative with fake notes symbolising Germany's debt. Photo: DPA

Wealthy Germans launch petition for higher taxes

Published: 22 Oct 09 15:24 CET
Online: http://www.thelocal.de/money/20091022-22755.html

Some rich Germans have launched a web petition to call for the resumption of a wealth tax to help the country bounce back from an economic crisis, because, as one said, he had "a lot of money I do not need."

The text, posted at www.appell-vermoegensabgabe.de, has been signed by 44 people who want to convince the government of newly re-elected Chancellor Angela Merkel to raise their taxes.

For retired doctor Dieter Lehmkuhl, 66, it is time the wealthy came to the aid of their country. He reckons that if the 2.2 million Germans who have personal fortunes of more than €500,000 ($750,000) paid a tax of five percent this year and next, it would provide the state with €100 billion.

Lehmkuhl got the idea when Berlin stumped up billions of euros to save banks and give the recession-hit economy a boost.

"It made me mad to think that we suddenly found all this money for the banks, money that we did not have before for urgent programmes like education and the environment," the left of centre weekly Die Zeit quoted him as saying.

The former doctor would like Germany to have its own version of the the US group United for a Fair Economy (UFA), which includes around 700 wealthy US residents, according to the Berlin daily Der Tagesspiegel.

His plan would see a five percent tax for two years to fund specific projects followed by a reduction to one percent, the level of the tax when it was abandoned in 1997. Germany still slaps a 25 percent levy on capital gains.

One signer, 69-year-old Peter Vollmer told AFP he backed the petition because he had inherited "a lot of money I do not need."

Following her September 27 election victory, Merkel and her conservative Christian Democrats are currently locked in talks hammering out a common programme with their new partners, the pro-business Free Democrats (FDP).

The FDP promised €35 billion in tax cuts in its election campaign, but with Germany's public finances shot to bits by the recession, Merkel's party is wary of agreeing to such reductions.

On Wednesday, Lehmkuhl, Vollmer and a few friends held a rally in the Tiergarten park in central Berlin, throwing fake banknotes into the air for photographers in what they called a bid to provoke discussion of the idea.

"It's really strange that so few people came," Vollmer said.

AFP (news@thelocal.de)

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16:51 October 22, 2009 by William Thirteen
if they throw real cash in the air next time they might attract a few more interested parties...
20:26 October 22, 2009 by jml


"BERLIN (AFP) ? Some rich Germans have launched a petition to call for the resumption of a wealth tax to help the country bounce back from an economic crisis, because, as one said, he had "a lot of money I do not need."

The text, posted on the Internet at www.appell-vermoegensabgabe.de, has been signed by more than 40 people who want to convince the government of newly re-elected Chancellor Angela Merkel to raise their taxes.

For retired doctor Dieter Kelmkuhl, 66, it is time the wealthy came to the aid of their country.

He reckons that if the 2.2 million Germans who have personal fortunes of more than 500,000 euros (750,000 dollars) paid a tax of five percent this year and next, it would provide the state with 100 billion euros."

Full article on Yahoo
20:37 October 22, 2009 by HEM
I am certain that donations from such people will be welcome at any time.
21:07 October 22, 2009 by rhody
My gold pen is in the shop. I'll sign it when it is fixed. One of the diamonds fell off.
21:32 October 22, 2009 by frutti di mare
Brilliant idea!Nowadays,when people are facing so many difficulties because of the economic crisis we all need to be more human.Let`s help each other in new inovative ways, but let do it the right way.If those wealthy Germans are serious in their intention they should find the right way to give their help/money to people in need without humiliating them.This is very important, otherwise just trowing false bancnotes to people sounds such as laughing at those leaving at the edge of poverty.Beeing poor is not a sin,but laughing at people in need it is!Let us see what exactly is those wealthy Germans intention............
22:04 October 22, 2009 by gatmood
well they can do whatever they want with the money... and if they feel like having too much, they can give me a little bit of if!

the life as foreigner student is not that easy here!!!
22:11 October 22, 2009 by timw
Philanthropy German style. I love the quote

"It's really strange that so few people came,"

I wonder why
08:50 October 23, 2009 by Chanaka Lloyd
perhaps, one can see it as the money that was not equally distributed in the first place! i'm not rooting for socialism, but some are filthy rich, whilst others are nowhere close.

i guess that's why people didn't come.

in addition, which 'non-rich' person like the rich to throw money at, right?

idea isn't bad, though.
13:50 October 23, 2009 by Hutcho
It would bring in 100 billion euros if all those rich people stay in the country after they introduce this tax. Of course, many won't and they'll take their businesses with them when they leave. Suddenly a plus of 100 billion has turned into a minus of 100 billion.
14:03 October 23, 2009 by Portnoy
This smacks of reverse psychology - if we go out there and tell them we'd be happy to pay more, they will no longer see us as the evil rich people and will then begin looking for a different target for their scorn. Let them eat cake!
14:29 October 23, 2009 by Hutcho
They would not stay because they are already being over taxed compared to other countries that they could move to (Switzerland, Lichtenstein). The proposal is to tax them 5% of their wealth, which for some people could be tens of millions of euros. Put yourself in that situation - you're already over taxed, and they want even more. What do you do?

Also, don't consider the fact that you might be a socialist. None of these people are socialists - they wouldn't be so rich if they were.
15:41 October 23, 2009 by Kuzzer
What's the German for "Noblesse Oblige"?

K
16:02 October 23, 2009 by Oblomov
They would not stay because they are already being over taxed compared to other countries that they could move to (Switzerland, Lichtenstein). The pro…
Switzerland is only a real tax haven for people who are living there but do earn their incomes abroad. This is a parasitical behaviour of the Swiss state. Germany could certainly counteract by taxing its citizens who are living abroad as well, just as the US does.

Rich Germans have seen their tax bills reduced massively during the past years. Obviously if you hold the opinion that you shouldn't have to pay any tax at all, because you are so great and good, then each Euro you have to pay is too much.
16:18 October 23, 2009 by Hutcho
At which point they would drop their German citizenship and take up citizenship in some more attractive place. My point really is that you can't take the piss too much with these people, because they have the money to get around your rules if they want to. By making it excessively painful for them, they will do just that.
17:24 October 23, 2009 by Oblomov
The Swiss do not offer the same privileges to their own citizens. People in Zurich have therefore voted to abolish tax privileges for rich foreigners. We would see how many people would be really willing to obtain the citizenship of some tin-pot tax haven just to save taxes.
17:43 October 23, 2009 by Conquistador
500K in assets seems to be a really low cutoff for a wealth tax- France's, for example, is something like 900K (IIRC).
17:44 October 23, 2009 by Portnoy
Noblesse Oblige.
17:45 October 23, 2009 by JeffZ
Before they suspended collection (1997 IIRC), it was DM 120,000. So if your net worth is over EUR 60,000, cough up, sucker.
18:13 October 23, 2009 by trule
sigh, why don't these people lobby to reduce the size of Government instead? Leave the money in the real economy where it can do some good.
21:35 October 23, 2009 by Johnnysurf
Interesting Idea
10:39 October 24, 2009 by notelove2
what about distributing some of this money to musicians and artists who have projects - this used to be subsidized by the state, and this is an essential part of society
12:49 October 24, 2009 by Kuzzer
Noblesse Oblige.
I stand enlightened. I think.



K
23:10 October 24, 2009 by vbi
It would be better if the money go to private charity or some organisation organised by the same rich people, oppose to going to the government where the money will be used more wasteful and less effective.
04:40 October 25, 2009 by kiwikraut
The world has gone mad ! The unbelieveable has happened, the rich want to pay more tax ! This crisis must be really really really painful on some of these upper crusties that they even play with the thought of surrendering some of their money for the good of the nation's economy.

But, they know business and the old saying: "What goes around comes around."
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