Inheritance - Left Party leader calls for 50,000 euros basic inheritance for young people
Martin Schirdewan, Federal Chairman of the Left Party, wants to pay young people a basic inheritance of 50,000 euros on their 18th birthday. "It is mainly inheritances that determine wealth and poverty in Germany," he told Stern magazine. The basic inheritance would be a "small compensation for the injustice of distribution".
Every year, significantly more than 100 billion euros are inherited, but not equally. "The top ten percent of heirs and beneficiaries together receive about as much as the bottom 90 percent," said Schirdewan. He also referred to the large differences between West Germany and East Germany.
According to Schirdewan's proposal, everyone whose main place of residence is in Germany should receive a basic inheritance equivalent to an average annual income when they come of age. That would be around 50,000 euros gross. For young people who have already inherited or will inherit, the payment would be offset. To finance this, Schirdewan wants to "drastically increase" the inheritance tax from an amount of two million euros.
The Jusos had already made a similar demand in November. At its national congress, the youth organization of the SPD voted for a concept that provides for an unconditional payment of 60,000 euros to anyone who has reached the age of 18 and has their main residence in Germany. This should also be financed through a reform of inheritance tax.
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Source: www.stern.de
