Thousands in Germany Protest for Wealth Tax

Sunday, September 30, 2012
By Paul Martin

CNBC.com
Saturday, 29 Sep 2012

Thousands of people across Germany have protested for the introduction of taxes on wealth and financial transactions.

Organizers said Saturday around 40,000 people took to the streets in 40 cities to demand a more equal society.

Police estimates of the turnout in the country’s biggest cities were lower than the organizers’. Frankfurt police said about 4,000 took to the streets and Cologne reported 2,000. Authorities in Berlin declined to provide an estimate but organizers said about 5,000 protested in the capital.

The organizers — including unions, civil society groups and the anti-globalization group Attac — demand a permanent tax on people’s wealth “to have rich households contribute significantly more.” They said the tax they’re supporting would only affect the country’s wealthiest citizens, with almost 99 percent not paying additional taxes.

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