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SPD’s New Generation Proposes Drastic Inheritance Tax Increase for Basic Inheritance

The SPD’s new generation wants to drastically increase taxes for large inheritances (up to 90 percent) – and thus finance a “basic inheritance” for everyone.

At their federal congress in mid-November, the Jusos want to demand that everyone over 18 “inherits” 60,000 euros. Juso deputy Sarah Mohamed (32) announced this in the “Tagesspiegel”.

School out – coal out!

According to the Federal Executive Board’s proposal, this basic inheritance should only be linked to residence in Germany and should even be paid out regardless of residence status. Good for the travel budget of globetrotters. But the mega gift of 60,000 euros also includes a driving license and a new car…

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The Jusos cite the massive wealth inequality in Germany as the reason for the redistribution. Because inheritance taxes are too low, more and more assets remain in individual families, said Mohamed. It is true: In Germany the wealth differences are extreme compared to almost all other countries in the Eurozone.

Juso plan: Cash in from 1 million

This is intended to be financed by an inheritance tax of ten percent from an exemption amount of one million euros. The tax rate should increase with the size of the assets, so that the second million would be taxed at 20 percent and the third million at 30 percent. From the ninth million onwards, a top tax rate of 90 percent would apply.

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According to calculations by the Jusos, the cost of the mega gift is 45 billion euros. According to their calculations, the new inheritance tax would bring in 400 billion – assuming, of course, that wealthy families find no other way to transfer their assets to their own children, from whom a large part of their inheritance would otherwise be taken away.

According to their own statements, the Jusos are expecting a broad majority at the Federal Congress from November 17th to 19th. However, that doesn’t mean that the SPD is following the party’s new blood. A number of demands from the Jusos (e.g. minimum wage from the age of 13…) fizzle out.

2023-11-02 16:55:32
#Bizarre #Juso #plan #euros #inheritance #politics

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