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Miesenmeister der Welt, schaut auf Deutschland! - Debt masters of the world, look to Germany!
Fast alle Industriestaaten ächzen unter enormen Schulden, ihr Problem: Die Staatseinnahmen sind viel zu niedrig. Pleitestaaten müssen jetzt die Steuern erhöhen - auf ein ähnliches Niveau wie in der Bundesrepublik. Ein Gastbeitrag des Wirtschaftsweisen Peter Bofinger.Almost all developed countries have enormous debts. Their problem: government revenues are too low. Insolvent countries have to raise taxes now - to a level comparable to Germany. A guest column by economic council member Peter Bofinger.

Actual and hypothetical budget balance 2011 of selected OECD members (% of GDP)
Rank Country Actual Balance Balance for German levels of revenue Balance for EU-average-level of revenue
1 Irland -10,1 -2,3 -0,7
2 Vereinigte Staaten -10,1 1,9 3,5
3 Japan -8,9 3,1 4,7
4 Großbritannien -8,7 -6,9 -5,3
5 Neuseeland -8,5 -3,0 -1,4
6 Griechenland -7,5 -6,2 -4,6
7 Spanien -6,3 0,8 2,4
8 Portugal -5,9 -4,3 -2,7
9 Polen -5,8 -2,6 -1,0
10 Slowenien -5,6 -6,1 -4,5
Quelle: OECD
by epochepoque on Thu Aug 11th, 2011 at 11:12:25 PM EST
[ Parent ]
German economists do not understand three-sector national accounting. Film at 11.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Aug 12th, 2011 at 05:26:49 AM EST
[ Parent ]
And taxes in countries like the Uniteds states and Ireland are to low. Only neo-liberal nutters deny this.
by IM on Fri Aug 12th, 2011 at 11:06:45 AM EST
[ Parent ]
Indeed they are, but raising them would not reduce the sovereign deficit, given a commitment to full employment fiscal policies. And if the private sector is deleveraging - as is presently the case - not even without such commitment.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Aug 12th, 2011 at 12:06:06 PM EST
[ Parent ]

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