Germany is weighing sweeping pension changes, including raising the retirement age to 70. Meanwhile, football fans are celebrating after the men's national side qualified for the World Cup knockout stage.
if we retire earlier we miss some time during which we built our retirement fund
What? If the worker gets a fair share of the productivity gains, they have higher salaries. They can put more in their retirement fund and could work less.
See that graph:
Productivity gains vs. salaries. That is what was stolen since the mid-seventies. Salaries, on average, should be double as high. You could basically set aside one month of living per month (and earn interest on it). Where did the monetary gains go instead? Into assets of the wealthy, they just did not vanish under mysterious circumstances.
People just underestimate how hard they got robbed, if they even consider that they were robbed, that is.
Tax the rich ? Right. Let’s make an example
Let’s make a better example. Why only 10 billion per year? Like, the private assets of German citizens are estimated around 5-6 trillion Euro. If we estimate like 6% interest (long-term gains on the financial market, evan higher the last few years, but granted, it’s hot), that is 320 billion capital gains alone, per year. Take a meager 10% and you have 32 billion already, or you could go harder, why not? After all people still earn money.
Take as an example the Quandt family: they “earn” 500 million cash(!) on BMW dividends alone, but pay less than 1% tax on those earnings. Why do I pay like 32% on average on my income from work, while they almost pay nothing for doing nothing?
Tax inheritance accordingly. People can inherit like 100 million and never have to think about anything in their life. Why should they inherit billions?
100 billion estimated losses through tax evasion estimated in Germany, each year.
If we do all that, and still cannot afford less work for everybody, OK, I am convinced then. But not before the rich get taxed properly.
how we are approaching a similar scenario
I don’t know, have you looked around? Public infrastructure crumbles, people cannot afford basic necessities anymore. Funnily enough prime “Wirtschaftswunder” was in the sixeties, the rubble already gone.
Except production is no more here
Investments by the state are usually very locally sourced, as the state pays workers here, or invests in infrastructure. You buy flatscreens in China, allright, but you build streets, railways, bridges and public pools right here.
For the first or second year, then the rich would have nothing more or, more probable, moved their money out of your reach
It’s not like there’s nothing you could do against that. Tax duties come with citizenship, like the U.S. does. Tax when people shift their assets away. A lot of assets cannot be shifted anyway. Look at the Schwartz or Abrecht families. Their assets are like thousands of supermarkets. Can they just pack them up and move them elsewhere? I doubt it.
What? If the worker gets a fair share of the productivity gains, they have higher salaries. They can put more in their retirement fund and could work less.
See that graph:
Productivity gains vs. salaries. That is what was stolen since the mid-seventies. Salaries, on average, should be double as high. You could basically set aside one month of living per month (and earn interest on it). Where did the monetary gains go instead? Into assets of the wealthy, they just did not vanish under mysterious circumstances.
People just underestimate how hard they got robbed, if they even consider that they were robbed, that is.
Let’s make a better example. Why only 10 billion per year? Like, the private assets of German citizens are estimated around 5-6 trillion Euro. If we estimate like 6% interest (long-term gains on the financial market, evan higher the last few years, but granted, it’s hot), that is 320 billion capital gains alone, per year. Take a meager 10% and you have 32 billion already, or you could go harder, why not? After all people still earn money.
Take as an example the Quandt family: they “earn” 500 million cash(!) on BMW dividends alone, but pay less than 1% tax on those earnings. Why do I pay like 32% on average on my income from work, while they almost pay nothing for doing nothing?
Tax inheritance accordingly. People can inherit like 100 million and never have to think about anything in their life. Why should they inherit billions?
100 billion estimated losses through tax evasion estimated in Germany, each year.
If we do all that, and still cannot afford less work for everybody, OK, I am convinced then. But not before the rich get taxed properly.
I don’t know, have you looked around? Public infrastructure crumbles, people cannot afford basic necessities anymore. Funnily enough prime “Wirtschaftswunder” was in the sixeties, the rubble already gone.
Investments by the state are usually very locally sourced, as the state pays workers here, or invests in infrastructure. You buy flatscreens in China, allright, but you build streets, railways, bridges and public pools right here.
It’s not like there’s nothing you could do against that. Tax duties come with citizenship, like the U.S. does. Tax when people shift their assets away. A lot of assets cannot be shifted anyway. Look at the Schwartz or Abrecht families. Their assets are like thousands of supermarkets. Can they just pack them up and move them elsewhere? I doubt it.