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Rich Deutschelanders Volunteer to Pay More Tax

June 11th, 2010 · 9 Comments

“Deutscheland, Deutscheland, uber alles.”

- Unknown German -

All of you rich, tax-happy Americans take note.

From Paul Caron:

CNBC, German Millionaires Volunteer to Pay ‘Rich Tax’:

A group of 51 German millionaires and billionaires founded a Club of the Wealthy and wrote to Chancellor Angela Merkel proposing to give up 10% of their income in the form of a “Rich Tax” for 10 years to consolidate the budget.

With an estimated 800,000 millionaires (in dollars) — about 1% of the total population — Germany is eye-to-eye with the USA and has long overtaken the UK as Europe’s number one “millionaire-land”, both in terms of absolute numbers and as a percentage of the population.

Now this is putting your principles where your wallet is.

Perhaps rich Americans like Sean Penn, George Clooney, George Soros (is he American?) and John Kerry who want to tax the rich back to the Paleolithic should follow the lead of their German counterparts and pony up some voluntary funds.

Yeah, right!

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Tags: Tax Policy

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