Taxes - Tschentscher in favor of inheritance tax increase
Hamburg's First Mayor Peter Tschentscher has spoken out in favor of an increase in inheritance tax. In view of the crisis situation, an increase in inheritance tax rates is justifiable to improve public revenue, the SPD politician told the newspaper "Welt am Sonntag" (Hamburg edition).
" Inheritance tax is basically a wealth tax that is levied once per generation," said Tschentscher. "This step - unlike the reintroduction of wealth tax - can be implemented without a great deal of bureaucracy and would enable considerable additional financing for future investments."
Adjustments to the top tax rate are another possibility. "The rate could also be adjusted again for high incomes, which lie between the top tax rate and the wealth tax rate," Tschentscher told the newspaper.
However, he rejected plans to cut taxes. Federal Finance Minister Christian Lindner should recognize that tax cuts must be financed in the same way as additional expenditure. "It seems to me that a lack of experience plays a role here, otherwise Mr. Lindner would know that this balance cannot simply be achieved with demands to reduce bureaucracy and increase efficiency," said the mayor.
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Source: www.stern.de
