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Germany's Left Party wants to halve billionaires' wealth (www.dw.com)

submitted 11 months ago by PlasticLove@lemmy.today to c/world@quokk.au

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The Left Party says "there shouldn't be any billionaires." With Germany gearing up for an election, the far-left force has launched a new tax plan — though it will most likely never get a chance to implement it.

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[–] apotheotic@beehaw.org 2 points 11 months ago

Its obvious, but for some reason also rage inducing, that for every billionaire with at least 2 billion in wealth, taking half their wealth has them remain a billionaire. If you take half the wealth of some average individual they're probably going from "sort of getting by" to "heavily at risk"