The Social Democratic Party (SPD) is advocating for a reintroduction of a 1% wealth tax targeting individuals with substantial assets, starting from 1 million euros. This proposal enjoys the support of 62% of citizens, according to a recent Forsa survey.
The SPD aims to alleviate the tax burden on 95% of the populace through a comprehensive income tax reform, which includes increased taxation on monthly earnings exceeding 15,000 euros. The strategy paper also outlines initiatives to address the ongoing economic downturn.
Despite opposition from the CDU/CSU and FDP, advocates argue that the wealth tax is essential for equitable taxation of the wealthy, potentially generating significant revenue for public welfare.
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