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Top German official: wealth tax would harm the economy | dpa international (dpa-international.com)
submitted 2 weeks ago by schizoidman@lemmy.zip to c/europe@feddit.org
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[โ€“] Melchior@feddit.org 4 points 2 weeks ago (1 children)

The "Wirtschaftswunder" mostly happened, because the Americans saved Germany from starvation after WW2, German industry was hardly damaged during the war(but the transport system was, but that got repaired) and then because of the common market and lack of USD, which made Europeans buy German rather then American.

It was pretty much bound to happen and the only thing Germany did right, was the EU part. The rest was mainly bad managed horribly and German workers were and still are underpaid. Hence you see the massive net exports out of Germany.

[โ€“] kossa@feddit.org 3 points 2 weeks ago (1 children)

Well, for something like the Wirtschaftswunder, it is really hard to pinpoint a single "reason", but arguably the Lastenausgleichsgesetz played a huge role. It was a massive redistribution of wealth (nowadays shunned as a so-called "social benefit program", funnily enough it was specifically to subsidize refugees). With that, a wealth tax and crazy high income tax and higher business taxation, the government spending ratio went through the roof. Add to that, that poor people (read: the refugees from the Eastern areas) could (and needed to, as they lost everything) consume a lot more, et voila, Wirtschaftswunder. Easy recipe, which could just be repeated today. When the wealth would be moving again, the economy would explode again. But, alas, the majority does not have the money to consume, and the wealthy hoard the wealth instead of consuming. If we only could change that somehow.

[โ€“] Melchior@feddit.org 2 points 2 weeks ago

In West Germany there never was an actually working redistribution of wealth after WW2. The rich families of the Nazi Germany kept their wealth and still have it today. Yes taxes were higher for them, but not even close to high enough. The Lastenausgleichsgesetz really did hit the middle class, who owned property. It did not hit the real capitalist class.