December 12, 2008

You Mean Tax Cuts Are Popular In Europe? Who Knew?!?

Especially in Germany.

Some 80 percent of those polled said they thought lowering taxes were the right way to bolster growth. Only 11 percent said they thought a consumer voucher – rumoured to be under consideration by the German government for an economic stimulus package – would be effective.

About 73 percent of poll participants said they thought the economy was in bad shape, meanwhile 26 percent said things were good. Some 64 percent found their personal financial situation to be unsatisfactory, and 35 percent were happy with the balance on their bank accounts.

There was speculation in November that the German government was considering giving the country's consumers €500 vouchers, but so far officials have denied they are planning any such measures.

In the wake of the global financial crisis, the German government has cut taxes and announced infrastructure spending worth more than €32 billion to jumpstart its economy, but is still under pressure to do more.

What a shock that after 50 years of socialized everything, Europe is starting to lurch back in the direction of free market ideals, while America seems to be more than willing to "spread the wealth".

Posted by: eddiebear at 11:32 AM | No Comments | Add Comment
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