SPD discusses “temporary crisis levy” for the super-rich

THE MIRROR SPD discusses “temporary crisis levy” for the super-rich Article by Marc Röhlig • 1 H. The SPD wants to make top earners pay more: This is stated in a draft proposal for the party conference. This proposal is not the only one that is likely to meet with resistance at the traffic lights. The SPD wants to tax top earners more heavily and at the same time reform the debt brake. This emerges from the draft resolution for the key proposal for the federal party conference. Specifically, the Social Democrats are calling for a fundamental income tax reform in the draft resolution, which should relieve the burden on the majority of taxpayers (“around 95 percent”). As a result of the reform, the vast majority of workers should “have more money in their pockets,” says the paper. Instead, income from top earners should finance the relief. What's more: those who are subject to rich tax should also pay a “temporary crisis levy”. How much the super-rich should pay is not specifically stated in the application. In principle, however, the inheritance and gift tax should be reformed so that multimillionaires and billionaires “participate more in financing the common good.” Debt brake against “Germany Fund” The draft also considers reforming the debt brake. In its current form, it has “become a risk to Germany’s location and prosperity.” The SPD is therefore pushing for a short-term reform and a long-term change to the Basic Law in order to modernize the debt brake and focus more on investments. For planned investments, the SPD would like to set up a “Germany Fund” that would be fed by state money and private capital from investors. If the key proposal passes through the presidium, it will be presented at the SPD party conference at the beginning of December. The SPD would thus clearly position itself against its traffic light partner FDP: The Liberals strictly reject any easing of the debt brake - as well as tax increases or additional levies.