German Tax Chief Calls for Rate Cuts to Boost Economy
Reiner Holznagel, president of the Federation of German Taxpayers, has called for tax rate cuts to stimulate the economy and boost GDP. He believes that the current budget has inflated figures and is short on cash, suggesting reforms to the income tax scale to give people more net income.
Holznagel argues that raising taxes is not the solution to Germany's economic woes. Instead, he proposes making companies more competitive in international competition. He sees hope in the property tax and encourages taxpayers to pay attention to certain points. The budget negotiations are proving difficult, with the government coalition not united on the issue. The cabinet's agreement includes under- and over-expenditure, totaling 15 billion euros. Despite calls from many positions in Germany for more taxes to eliminate inequalities, Holznagel disagrees, believing that tax rate cuts will have a more positive impact on the economy.
Reiner Holznagel, president of the Federation of German Taxpayers, has proposed tax rate cuts to stimulate the economy and boost GDP. He believes that the current budget has inflated figures and is short on cash, and suggests reforms to the income tax scale to give people more net income. Despite difficult budget negotiations and differing opinions, Holznagel remains hopeful that his proposals will have a positive impact on the German economy.
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