Germany’s Economic Guru Slams Left-Wing Party’s ‘Dead Horse’ Wealth Tax Plan

Germany's Economic Guru Slams Left-Wing Party's 'Dead Horse' Wealth Tax Plan

Economist Veronika Grimm has sharply criticized the election program of the Sahra Wagenknecht Alliance (BSW).

With the demand for a wealth tax of 25 million euros, the BSW is “riding a dead horse”, she told the “Handelsblatt” (Monday edition). Without exception rules for business assets, it would strangle the economy. Moreover, there is always a flux of movements in wealth values that are hard to track.

“The attempt by BSW to rid themselves of any climate protection and also sustainability reporting, taxonomy, as well as CO2 emissions trading is completely out of time.” Instead of strengthening emissions trading and building regulation, the party is moving in the wrong direction.

Wagenknecht’s proximity to Russia is a “threat to European security”. With the BSW, it will be difficult to build the necessary resilience in Europe and strengthen the defense capability, Grimm said.