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Germany agrees corporate tax cuts to 'stimulate' economy – DW – 08/29/2023 (www.dw.com)

submitted 1 year ago by tintory@lemm.ee to c/world@lemmy.world

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[-] Carighan@lemmy.world 60 points 1 year ago

Sigh. More importantly, they're not structured in such a way that they only benefit small and at most medium companies, they apply more or less across the board, which automatically makes the giant megacorps the biggest winners as they can pay the people to figure out how to best exploit this.
If anything, they should have funded tax breaks to small companies on the backs of VW or Vattenfall or Rheinmetall, or ideally their CEOs and stockholders directly. Fleece the ones who do nothing good, nevermind with their money.

[-] Pelicanen@sopuli.xyz 2 points 1 year ago

Vattenfall? Like the swedish state-owned supplier of hydropower? That Vattenfall?

[-] LostMyRedditLogin@lemmy.world 49 points 1 year ago

Here we go again. Germany is about to get fucked by corporations like the US.

[-] rikudou@lemmings.world 40 points 1 year ago

Why always fucking corporate tax cuts? How about people tax cuts? You know, when people have more money, they spend more. Thus giving more money to the corporates as well.

[-] forgotaboutlaye@kbin.social 12 points 1 year ago

You'll be taxed 40% and you'll be happy about it.

[-] rikudou@lemmings.world 9 points 1 year ago

I mean, I'm already taxed 15% on income tax, another 11% on social and health security, then whenever I buy anything, 21% of the price is tax (so if I spend all my income every month, it was basically another 21% of income tax). Petrol has another tax extra (don't know how much). When I bought a piece of land I paid another 4% as a tax (and I still had to pay for all administrative tasks like changing the owner in the registry). And I pay tax for owning the land every year. I'm pretty sure I forgot some tax.

I think I'm well over 40%. Not quite happy about it, though.

[-] Dead_or_Alive@lemmy.world 12 points 1 year ago

:Looks at massive increase in consumer spending due to Covid Stimulus and College loan payment moratorium.:

Lets do that trickle down shit again, it’s gotta work this time.

[-] Anticorp@lemmy.ml 2 points 1 year ago

Why would the corporations bribe the legislature to pass a law that benefits people, or helps the economy? They just want to hoard their wealth. Okay?

[-] Aux@lemmy.world -1 points 1 year ago

When people have more money and spend more money we have inflation. Didn't you have enough inflation already?

[-] Gradually_Adjusting@lemmy.world 25 points 1 year ago

It didn't work for America, but okay

[-] slaacaa@lemmy.world 5 points 1 year ago

Wdym? It can trickle down any minute now, you just gotta be patient

[-] Mongostein@lemmy.ca 25 points 1 year ago

No Germany! You’ve been doing so well!

[-] Son_of_dad@lemmy.world 20 points 1 year ago

They just like to put out the perception that they're better, really Germany is a shit show too

[-] AlteredStateBlob@kbin.social 5 points 1 year ago

"Too" as in like the US?

[-] Akrenion@programming.dev 6 points 1 year ago

A lot of politics and media are importing american ways of communicating and fearmongering.

[-] Son_of_dad@lemmy.world 2 points 1 year ago

Not everyone here is American

[-] Akrenion@programming.dev 2 points 1 year ago

Neither am I. That's why I used the word importing.

[-] Son_of_dad@lemmy.world 2 points 1 year ago

No. We don't ask live in the u.s and the world doesn't revolve around it

[-] Heastes@lemmy.world 9 points 1 year ago

We really weren’t.

[-] Mongostein@lemmy.ca 2 points 1 year ago

“Well” is a relative term 🤷🏻‍♂️

[-] Kahlenar@lemmy.world 21 points 1 year ago

Every corporate tax cut is a duck you too small business.

[-] Anticorp@lemmy.ml 11 points 1 year ago

And it doesn't do shit to stimulate the economy. They just buy back all their own stock, hoard their money, and pay people off anyways, while raising their prices. We already saw this whole thing play out multiple times already.

[-] Jumi@lemmy.world 11 points 1 year ago

Another dump on the pile of shit that this country is becoming

[-] profdc9@lemmy.world 6 points 1 year ago

It looks like Germany is evangelizing the gospel of Supply Side Jesus: https://www.beliefnet.com/news/2003/09/the-gospel-of-supply-side-jesus.aspx

[-] dangblingus@lemmy.world 6 points 1 year ago

This is coming from Scholz?? The leader of the SPD??? Sounds like someone got paid.

[-] autotldr@lemmings.world 4 points 1 year ago

This is the best summary I could come up with:

While Germany's coalition parties have hesitated over the extent of the country's tax cuts, the economy has remained static.

The conflict has seen German energy prices surge, after Berlin's reliance on Moscow for gas was brought to a halt.

"We'll discuss how to achieve a big boost," Chancellor Olaf Scholz said at the start of a two-day cabinet retreat at Schloss Meseberg, a baroque castle outside Berlin.

The tax cuts are part of a 10-point program and intended to kickstart economic growth whilst making sure companies made the decision to invest in Germany, Scholz said.

The plan includes a premium for energy-saving investments, as well as rule changes to make it easier for companies to write off losses.

As Germany boosts spending, some critics fear that without a new European Union green fund, only larger economies with more fiscal power will be able to push ahead with national subsidies, leaving smaller countries behind.

The original article contains 282 words, the summary contains 144 words. Saved 49%. I'm a bot and I'm open source!

this post was submitted on 31 Aug 2023

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