Sunday, June 26, 2022

What Is This One-Off Tax Deal Considered in Germany?

 Well....Chancellor Scholz (SPD Party) has this idea.....which would require a vote in the Bundestag.

The idea is....you (the worker) would get one month of pay without any income taken taken.  The 'free' money would be a gift to yourself for your electrical/natural gas bill.

What do German pay on income tax?  The lowest rate is 14-percent but it slides up as you make more.  

So if you were making 2,000 Euro a month....in the normal rate, it'd amount to 280 Euro.

My humble belief is that it'd be capped and no one would make more than 500 Euro. 

Crazy?  Well....it doesn't help welfare folks, or retirees.  But the politicians are desperate at this point....to invent little bits of help.  Frankly, at the pace of things....by the end of December....you'd need around 1,200 extra Euro for just power and natural gas.....not figuring inflation and gasoline cost.  

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