German Of The Day: Steuerhinterzieherin

That means tax evader – of the female persuasion.

Taxes

The title of the article: The Super-Lefty as Tax Evader.

Katrin Lompscher (Left Party), the Senator for City Development in Berlin’s red-redder-green (SPD, Left Party, Greens) city government – and the mother of the city’s infamous, breathtakingly failed and unconstitutional Mietendeckel or rent cap – has been forced to resign due to tax irregularities. They weren’t paid regularly enough, in other words – she earned too much on the side and declared too little. It’s folks like her – and there are a whole lot of them here in this city – who put the Social in Social Democracy. Sorry. I meant, who put the Left in the Left.

Zu viel Kohle nebenher kassiert und nicht versteuert – das klingt nach turbokapitalem Protzvillen-Raffke.

Zero-Sum Red Alert: Number Of German Millionaires Rising!

Germany is not only 1) a society based on envy, 2) Germans think that anyone else’s gain is automatically someone else’s loss and 3) they expect the wealthy to be punished for being wealthy. If they failed to be punished, then that would only encourage others to become wealthy too.

Money

World Wealth Report: Germany’s dollar millionaires on the rise – The number of Germany’s dollar millionaires rose by 100,000 in 2019, according to the World Wealth Report. The US had the biggest upturn, although the coronavirus crisis could change the upward trend.

PS: A new groundbreaking study published in the American Psychological Association Journal Emotion has just discovered that, on average, the more income someone makes, the happier they are.

Just Say No

No, not no to drugs. Just say no to energy. Electricity was yesterday.

Energy

No nuclear energy, no coal energy. Not much sun either for solar energy. There’s lots of wind in Germany, though. Hot air mostly but still.

Germany is first major economy to phase out coal and nuclear – German lawmakers have finalized the country’s long-awaited phase-out of coal as an energy source, backing a plan that environmental groups say isn’t ambitious enough and free marketeers criticize as a waste of taxpayers’ money.

Bills approved by both houses of parliament Friday envision shutting down the last coal-fired power plant by 2038 and spending some 40 billion euros ($45 billion) to help affected regions cope with the transition.

The plan is part of Germany’s ‘energy transition’ – an effort to wean Europe’s biggest economy off planet-warming fossil fuels and generate all of the country’s considerable energy needs from renewable sources. Achieving that goal is made harder than in comparable countries such as France and Britain because of Germany’s existing commitment to also phase out nuclear power by the end of 2022.

$1.5 Trillion?

There must be a better word than “stimulus” for that.

Stimulus

Wherever medication is given in huge and sudden doses, there’s a risk of unpleasant side effects. In Germany, and Europe generally, one of these may be a lasting shift in governing philosophy from market-friendly policies to state interventionism. That needn’t end in central planning. But even going part of the way would mean buying relief today at the price of misery tomorrow…

First, governments tend to confuse a company’s size with strength. Second, they’re usually worse than private investors at spotting winners, and always worse at pulling money out of losers. Third, they turn the economy into a big lobbying competition for businesses, which eventually hurts taxpayers and consumers.

Tax Us More?

Don’t ask. It’s a German thing.

Taxes

Germans Agree CO2 Taxes Aren’t High Enough and Want to Pay More – Germans say they’re ready pay a higher national levy on carbon pollution after utilities and policy makers joined climate activists in rebelling against proposed below-market rates deemed insufficient to fight climate change…

Merkel said the levy was the “centerpiece” of her government’s move to get Germany back on track to cut emissions.

Now if we could only get Merkel & Co. to cut their emissions. German oddity 10: Germans have more words for taxation than Eskimos have for snow.

Germany To Repay Customers Of Insolvent Thomas Cook

How nice of Germany to do that. But where does Germany get the money to repay them?

Germany

It’s no Kunststück (slight of hand), folks. I could repay customers of insolvent companies all day long too as long as I had somebody else’s money to repay them with. Just milk the taxpayer again, in other words.

Germany will give financial assistance to customers hit by the insolvency of Thomas Cook because the tour operator’s insurance cover has proved insufficient, it said on Wednesday…

Insurer Zurich’s (ZURN.S) liability is capped at 110 million euros ($121 million) but it has already registered claims worth 250 million and experts estimate total claims will reach 300 million to 500 million euros, ARD said.

A legal opinion commissioned by Zurich concluded that state liability is possible because the German government inadequately implemented a 2015 EU directive meant to ensure customers get their money back in the case of the insolvency of a tour operator, the report said.

“Damages that are not compensated by other parties will be settled by the federal government.”

German Of The Day: Transaktionssteuer

That means financial transactions tax.

Tax

And that means, as usual, taxing the little guy tying to get ahead while letting the big time speculators off the hook. All in the name of Social Justice. Or Social Democracy (SPD), if you prefer.

Germany Pushes Forward on European Financial Transactions Tax – Under a new blueprint for the tax, sent by Germany Finance Minister Olaf Scholz to the other governments on Monday and seen by The Wall Street Journal, anyone buying shares in large companies domiciled in those countries and with a market value of over €1 billion ($1.1 billion) will have to pay a minimum 0.2% tax over the transaction value…

Germany is under some time pressure to deliver an agreement since the government has already earmarked the expected proceeds to pay for higher state pensions for the poor starting in 2021. It expects revenues of about €1.5 billion a year from the tax.

Germans have more words for taxation than Eskimos have for snow.

This Just In: Poor People Have It Tougher Than Those Who Aren’t Poor

Poverty, unemployment and poor education in Germany lead to tougher lives and shorter life spans.

Arbeit

Wow. Who would have thought that? I’m sure thankful that researchers up at the Max Planck Institute in Rostock were able to finally make this major scientific breakthrough. The tons of German taxpayer money that went into this study were certainly well spent. Now maybe something will finally be done to stop poverty here. Apparently no one has been doing anything about it up until now. Thumbs up to you, researchers!

In a related story (see the link at the bottom of the same article), it has also been determined that the older the human body gets the more it weakens and – now get this – that this decline is inevitable.

Armut, Arbeitslosigkeit und schlechte Bildung gehen in Deutschland mit einer deutlich verkürzten Lebenserwartung einher.

How Will Germany Pay?

Like, duh. The same way Germany pays for its Syrian migrants (three out of four live off the German welfare system). The captive taxpayer audience will pay. Always has, always will. Gladly, even.

Climate

How Will Germany Pay For Its €50bn Climate Plan? After months of intense negotiations between the governing parties in Berlin, Germany on Friday announced a €50 billion package of measures designed to help the country meet its 2030 emissions reduction goals.

Just so you know: Citizens in ridiculously expensive Switzerland already pay half of what the Germans pay for their energy now. And in France, the people take to the streets to protest rising energy costs (gilets jaunes). In Germany, the people take to the streets to protest the latest planned energy price increases not being high enough. German voters want this, in other words. It’s psycho here, folks. I keep telling myself “it’s only a movie, it’s only a movie…” but, sadly, I know it’s real life. As real life as German reality can get.

Strompreise steigen auf Rekordhöhe – auch Gas ist teurer.

German Of The Day: Abzocke

That means rip-off.

Abzocke

You know, like the way the German government uses any opportunity it can to rip-off taxpayers (nobody pays more taxes than Germans do)? The latest Abzocke planned is to double the air travel tax in order to fight climate change. And it will definitely not be the last Abzocke to use fighting climate change as an excuse. It’s a brilliant Masche (scam). I mean, when hasn’t the climate changed? They can keep on introducing rip-off tax tricks forever.

Germany’s ruling conservatives have proposed doubling taxes on domestic flights, as part of a wider package to cut CO2 emissions.

The decision was taken by the leadership of the Christian Democrats (CDU), who form a coalition with the Christian Social Union (CSU) and the Social Democrats (SPD).

“We will invest, together with the aviation industry, to make electric-powered flight standard for short-haul flights and to create synthetic fuel to achieve climate-neutrality on medium- and long-haul flights,”