Germany Floats Tax Cut Plan

It seems the Germans are trying to cut taxes to goose growth while we try to knee-cap ourselves with that asinine Cap-and-Tax bill.

The conservative parties' election platform promises tax cuts worth €15 billion ($21 billion), but gives no time frame. The parties plan to cut the lowest income tax rate to 12% from 14% at present, raise the threshold for paying the top income tax rate of 42%, and reduce the degree to which a rising income leads to a progressively higher tax rate.

If that plan goes through and the Germans are able to cut spending at the same time we might see some impressive growth numbers coming out of Germany in the near future. It would be interesting to see the Germans leading the rest of Europe out of a recession.