Die Vermögensteuer – Ein Comeback in der Krise?

Abstract

Thomas Gambke describes in his article the concept of a property levy („Vermögensabgabe“) of the German Green Party in the context of other property related taxes such as real estate tax and inheritance tax. He explains the advantages of a property levy in contrast to a property tax. Moreover, the necessity to reduce public debts and to stop the unabated evolution of unequal property is outlined.

Family entrepreneurs in all honesty cannot grasp this new concept, states Lutz Goebel. Just now, while we are still experiencing a worldwide financial and economic crisis that has by no means been overcome yet, there is talk of increasing taxation of assets. In recent years, small and medium-sized and larger family-run companies have succeeded in improving their equity ratio. This helped weathering the crisis better, allowed us to hold on to key specialists in our workforce and made us become more independent of a banking industry shaken to its core. And now, of all times, models are discussed to once again withdraw equity and the ability to place investments from German companies, whether directly or indirectly. Unfortunately, the people proposing these models work with smoke and mirrors, which may mislead the less informed public. Even a 1 or 1.5 % tax or levy on assets will result in an explosion of the accumulated fiscal burden on a company’s income of additionally approx. 20 %, especially since the proposed new taxes are only to be paid from profits. Excessive taxation is therefore more or less preprogrammed. Does anyone really consider the way ahead if one of the last locomotives of the European economy is thus slowed down economically?

Steffen J Roth and Oliver Arentz argue that the reintroduction of a wealth tax in Germany would not contribute to more fairness in terms of the ability to pay principle. On the contrary: Since wealth in form of human capital is not taxed, a wealth tax would lead to a massive unequal treatment of people with the same ability to pay. The expected shift of the tax burden would hit low-income households in particular. Economic performance would decrease and the labour market would be negatively affected. Overall, the wealth tax cannot deliver what its promoters in the political arena promise.