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.
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