In an effort to boost economic performance, Germany’s left-wing government is accelerating tax cuts that were slated for 2005 by a year, as the Bush administration has done here. Germany also plans to sell off government assets and cut back on subsidies to try to fuel economic growth; Germany’s economy shrank last quarter.
The cuts will reduce Germany’s federal income tax brackets from 48.5% and 19.9% to 42% and 15%.
It’s interesting how even left-wing politicians who need to get an economy going in order to have a shot at re-election don’t increase taxes, as our Democrats are constantly advocating. They cut them.
- Subscribe now!... Get rid of ADs!Support Power Line...VIP MembershipPresentsPower Line
Most Read on Power Line
The Power Line Show
Subscribe to Power Line by Email
Find us on Facebook
“Arise and take our stand for freedom as in the olden time.” Winston Churchill
“Proclaim Liberty throughout All the land unto All the Inhabitants Thereof.” Inscription on the Liberty Bell