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Germany Today

German news in English

Thursday, October 17, 2024

Germans Support Wealth Tax, Even Among Conservative Voters

Published: 2024-07-09

A recent Forsa poll reveals that 62% of Germans favor reintroducing a wealth tax on assets over one million euros.

Surprisingly, even 55% of CDU/CSU voters support the measure, despite their party's opposition.

The tax, abolished in 1997 following a constitutional court ruling, could potentially generate billions in revenue.

While Green and SPD voters show strong support, FDP and AfD supporters largely oppose it.

Critics argue it could harm economic growth and lead to capital flight, but proponents claim existing laws could prevent tax evasion.

The debate continues as Germany grapples with budget constraints and growing wealth inequality.