Left Party leader calls for 50,000 euros basic inheritance for young people

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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1. The Left Party's call for a fundamental shift in inheritance policies, led by Martin Schirdewan, proposes a basic inheritance of 50,000 euros for young Germans.
2. Schirdewan, the SPD's Left faction leader, argues that wealth and poverty in Germany are significantly influenced by inheritances.
3. The Jusos, the youth wing of the SPD, had previously advocated for a similar concept, proposing an unconditional payment of 60,000 euros for 18-year-olds in Germany.
4. Schirdewan believes that to finance this proposal, inheritance tax should be significantly increased, particularly for estates worth over two million euros.
5. Critics argue that such a high inheritance tax could impact the finances of Social Parties, potentially impacting the ongoing discussions around inequality in Germany.
6. Regardless, the debate around inheritance and wealth distribution is a crucial one, with both the Left Party and Jusos advocating for policies aimed at reducing inequality in Germany.

Source: www.stern.de