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Tschentscher in favor of inheritance tax increase

Following the ruling of the Federal Constitutional Court on the federal budget, Berlin's traffic light government will have to tighten its belt. Hamburg's mayor can imagine tax increases for heirs and top earners so that there is enough money for necessary investments in the future.

,   and  Ann Bradley
2 min read
Peter Tschentscher (SPD), First Mayor of Hamburg, looks up. Photo.aussiedlerbote.de
Peter Tschentscher (SPD), First Mayor of Hamburg, looks up. Photo.aussiedlerbote.de

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.

Read also:

  1. The proposed increase in inheritance tax by Peter Tschentscher, the First Mayor of Hamburg, aligns with the views of his political party, SPD.
  2. Inheritance tax, as a form of wealth tax, can be a significant source of revenue for the government, according to Tschentscher, who believes it can contribute to future investments without excessive bureaucracy.
  3. During his discussion with the newspaper "Welt am Sonntag" (Hamburg edition), Tschentscher suggested that the top tax rate for high incomes could be adjusted, laying between the top tax rate and the wealth tax rate.
  4. Tschentscher, in opposition to Federal Finance Minister Christian Lindner, voiced his disagreement with plans to cut taxes, asserting that taxes and expenditures require equal financing.
  5. As a result of his stance on the inheritance tax and taxes in general, Tschentscher's position could potentially influence the taxation policies in Germany at the federal level.

Source: www.stern.de

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