wealth tax
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wealth tax
A tax levied on the net wealth of a person or company. The assessment basis is the total value of assets (e.g., real estate, stocks, cash) minus debts.
In der Politik wird kontrovers über die Wiedereinführung der Vermögenssteuer diskutiert.
In politics, the reintroduction of the wealth tax is being controversially debated.
This word is composed of 'das Vermögen' (assets, wealth) and 'die Steuer' (tax). The linking -s connects the two parts. Since 'Steuer' is feminine, 'Vermögenssteuer' is also feminine.
Ein hohes Vermögen ist die Voraussetzung für die Zahlung der Vermögenssteuer.
A high level of wealth is the prerequisite for paying the wealth tax.
In political discourse, 'Vermögenssteuer' (wealth tax) is often combined with certain verbs: it can be 'einführen' (introduced), 'erheben' (levied), 'abschaffen' (abolished), or 'zahlen' (paid).
Einige Parteien fordern, die Vermögenssteuer wieder einzuführen.
Some parties are calling for the wealth tax to be reintroduced.
The term 'Vermögenssteuer' (wealth tax) is used almost exclusively in discussions about politics, economics, and social justice.
Die Debatte um die Vermögenssteuer füllt die Titelseiten der Zeitungen.
The debate about the wealth tax is filling the front pages of the newspapers.
income tax
'Einkommensteuer' and 'Vermögenssteuer' are both taxes, but they look at different things. 'Einkommensteuer' (income tax) is based on the money a person earns during a certain period. 'Vermögenssteuer' (wealth tax) refers to the value of assets, for example real estate, stocks, or money, minus debts. The words can be confused because both have to do with a person's financial situation. The important difference is: Einkommen is money that comes in; Vermögen is property or assets that are already there.
In der Diskussion geht es um eine Vermögenssteuer auf sehr große Besitztümer.
The discussion is about a wealth tax on very large fortunes.
Wer mehr verdient, muss in der Regel auch mehr Einkommensteuer zahlen.
As a rule, people who earn more also have to pay more income tax.