Tax us more, say wealthy Europeans | World news | The Guardian

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Tax us more, say wealthy Europeans | World news | The Guardian

The German group, Vermögende für eine Vermögensabgabe (The Wealthy for a Capital Levy) is the latest manifestation of a feeling among some well-off individuals that the spare cash in their bank accounts might be able to ease, if not solve, the financial crises threatening to cripple their countries.

"None of us are in Buffett's or Bettencourt's league," said the founder, Dieter Lehmkuhl, a retired doctor with assets of €1.5m (£1.3m). "We're a broad church – teachers, doctors, entrepreneurs. Most of our wealth is inherited. But we have more money than we need."

The group's manifesto claims Germany could raise €100bn (£88.5bn) if the richest paid a 5% wealth tax for two years.

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Donagh is the editor of Irish Left Review. Contact Donagh through email: dublinopinionAtgmail.com