interview
As of: 01/25/2022 5:06 p.m
Antonis Schwarz is one of several young German millionaires who are particularly wealthy in favor of higher taxation. In an interview, he explains his reasons for this – and describes what he considers unfair about the tax system.
tagesschau.de: You are heir to the Schwarz Pharma group, which was sold a few years ago. As a German millionaire, you demand that you should be taxed more heavily. Why?
Antonis Schwarz: Yes, in Germany as well as internationally, the rule applies: the greater the wealth, the less tax you pay. It should actually be the other way around: the stronger shoulders should contribute more to the common good. In fact, over the past 30 years we have successively lowered taxes for the super-rich. With Corona we are at a point where the state coffers need the additional funds even more. That’s why we say: we have to initiate a change in our tax system.
To person
Antonis Schwarz is the heir to Schwarz Pharma AG in Monheim am Rhein, which has belonged to the Belgian pharmaceutical and biotechnology group UCB since 2017. He uses his fortune for ecologically oriented causes and philanthropy. The German-Greek, who lives in Munich, invests in companies, organizations or funds that pursue measurable social or ecological goals – also known as “impact investing”. Last year he caused a stir with a large donation to Bündnis 90/Die Grünen in the run-up to the federal election campaign.
Over 50 supporters of “Taxmenow”
tagesschau.de: When you say “we”, it’s not just you, but around 50 wealthy people who have come together in the “Taxmenow” organization. That means: There is now a lot of support for those who have a relatively large amount of money?
black: Yes, exactly. We are more than 50 people in the “Taxmenow” initiative. We benefit greatly from the system. We believe that we must do something and we use our voice in public as wealthy people to say: things cannot go on as they are now.
tagesschau.de: How do you envisage taxation in concrete terms?
black: There are many smaller and larger adjustment screws. An obvious lever would be, for example, that the tax authorities be better equipped with staff and equipment. So you could measure wealth inequality more accurately, because right now we only have estimates, and that’s actually not a good thing. In my opinion, the two most important taxes are inheritance tax and withholding tax. The inheritance tax in Germany is already relatively high, but de facto undermined with many exceptions for very large fortunes. In 2020, an estimated 400 billion euros were inherited, of which the tax authorities only took 8.6 billion. The withholding tax should also be changed. Share ownership is very unfairly distributed and is taxed at a flat rate. Someone who has millions or billions is taxed the same way as someone who is building a small cushion. This is not good.
“Parallel Shadow World”
daily News: From what income should this tax apply in your opinion? And what shape should it have?
black: It’s about people generally paying taxes first. The larger the assets, the more you can afford tax consultants and lawyers. If you work, you can easily pay up to 40 percent or more in taxes. But when it comes to capital gains, it’s quite different. A parallel shadow world has emerged, partly connected with offshore locations. The rich should pay the same taxes as everyone else. In addition, as a society, we should think about what constitutes a healthy level of wealth inequality. Currently it tends to be too high.
tagesschau.de: A large proportion of the super-rich donate to charitable or social projects. You are known for it too. Why are you in favor of adding taxation in any case?
black: I wish everyone would donate enough. Unfortunately, this is not the case. In Germany, the super-rich skimp a lot when it comes to donations – in contrast to the USA. It is one of the important functions of the state to create a social balance. In Europe we can be happy to have a welfare state, which doesn’t exist anywhere else.
The interview is conducted by Klaus-Rainer Jackisch, HR.