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Germany set to tax young to pay for boomers

Posted By -NO AUTHOR- On 04/07/2012 @ 10:42 pm In Money,World | No Comments

(London Telegraph) Germany is proposing to levy extra taxes on the young to pay for the costs of the country’s growing numbers of old people, under government plans for a “demographic reserve” levy.

Angela Merkel’s Christian Democrats have drafted proposals that, if law, would require all those over 25 to pay a proportion of their income to cushion Germany against a looming population crisis.

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