Europe's largest economy has flatlined recently, showing no signs of recovery from a winter recession. The International Monetary Fund has predicted Germany will be the only major advanced economy to shrink in 2023.
  • Carighan Maconar@lemmy.worldEnglish
    61·
    1 year ago

    Sigh. More importantly, they’re not structured in such a way that they only benefit small and at most medium companies, they apply more or less across the board, which automatically makes the giant megacorps the biggest winners as they can pay the people to figure out how to best exploit this.
    If anything, they should have funded tax breaks to small companies on the backs of VW or Vattenfall or Rheinmetall, or ideally their CEOs and stockholders directly. Fleece the ones who do nothing good, nevermind with their money.

      • Croquette@sh.itjust.worksEnglish
        6·
        1 year ago

        People are already paying for these costs increase, so the companies will pocket the tax cut and tout their record profits.

        As we’ve seen after the pandemic when the inflation was soaring, companies rose their prices to keep their margin as they were instead of taking a hit on their profit.

        Under the current state of capitalism, if a company isn’t making the maximum profit, that company is failing.

      • Croquette@sh.itjust.worksEnglish
        2·
        1 year ago

        People are already paying for these costs increase, so the companies will pocket the tax cut and tout their record profits.

        As we’ve seen after the pandemic when the inflation was soaring, companies rose their prices to keep their margin as they were instead of taking a hit on their profit.

        Under the current state of capitalism, if a company isn’t making the maximum profit, that company is failing.

  • Rikudou_Sage@lemmings.worldEnglish
    41·
    1 year ago

    Why always fucking corporate tax cuts? How about people tax cuts? You know, when people have more money, they spend more. Thus giving more money to the corporates as well.

    • SokathHisEyesOpen@lemmy.mlEnglish
      11·
      1 year ago

      And it doesn’t do shit to stimulate the economy. They just buy back all their own stock, hoard their money, and pay people off anyways, while raising their prices. We already saw this whole thing play out multiple times already.

  • AutoTL;DR@lemmings.worldBEnglish
    5·
    1 year ago

    This is the best summary I could come up with:

    While Germany’s coalition parties have hesitated over the extent of the country’s tax cuts, the economy has remained static.

    The conflict has seen German energy prices surge, after Berlin’s reliance on Moscow for gas was brought to a halt.

    “We’ll discuss how to achieve a big boost,” Chancellor Olaf Scholz said at the start of a two-day cabinet retreat at Schloss Meseberg, a baroque castle outside Berlin.

    The tax cuts are part of a 10-point program and intended to kickstart economic growth whilst making sure companies made the decision to invest in Germany, Scholz said.

    The plan includes a premium for energy-saving investments, as well as rule changes to make it easier for companies to write off losses.

    As Germany boosts spending, some critics fear that without a new European Union green fund, only larger economies with more fiscal power will be able to push ahead with national subsidies, leaving smaller countries behind.

    The original article contains 282 words, the summary contains 144 words. Saved 49%. I’m a bot and I’m open source!