SHE GETS IT. THE PEOPLE THAT EARN IT, SHOULD KEEP AS MUCH OF IT.
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Chancellor Angela Merkel said on Tuesday Germany needs to stimulate domestic economic demand and urged opposition parties to stop blocking proposed tax cuts in the upper house of Parliament.
Merkel told business leaders Germany should end the automatic progression of workers into ever higher tax brackets due to inflation, which siphons more than 20 billion euros ($26 billion) out of the economy each year. She also renewed her calls for cuts in pension contributions as another way to boost purchasing power.
“Growth in Germany can at the moment be stimulated by an increase in domestic demand more than anything else,” she said.
SOURCE: http://www.cnbc.com