Ideology
The Left aims for democratic socialism in order to overcome capitalism. As a platform for left politics in the wake of globalization, The Left includes many different factions, ranging from communists to social democrats. In March 2007, during the joint party convention of Left Party and WASG, a document outlining political principles was agreed on. The official program of the party was decided upon by an overwhelming majority at the party conference in October 2011 in Erfurt, Thuringia.
The party's fiscal policies are based on Keynesian economics, originating from the 1930s when governments responded to the Great Depression. The central bank and government should collaborate with expansionary fiscal and monetary policies in order to ameliorate business cycles, to support economic growth, and to reduce unemployment. Wage rises in the private sector should be determined through the productivity growth, the target inflation rate of the European Central Bank, and master contracts.
The party aims at increasing government spending in the areas of public investments, education, research and development, culture, and infrastructure, as well as increasing taxes for large corporations. It calls for increases in inheritance tax rates and the reinstatement of the individual "net worth" tax. The Left aims at a linear income tax progression, which would reduce the tax burden for lower and middle incomes, while raising the top tax rate. The combating of tax loopholes is a perennial issue, as The Left believes that they primarily benefit people with high incomes.
The financial markets should be subject to heavier government regulation, with the goal, among others, to reduce the speculation of bonds and derivatives. The party wants to strengthen anti-trust laws and empower cooperatives to decentralise the economy. Further economic reforms shall include solidarity and more self-determination for workers, the rejection of privatization and the introduction of a federal minimum wage, and more generally the overthrow of property and power structures in which, citing Karl Marx's aphorism, "man is a debased, enslaved, abandoned, despicable essence".
Read more about this topic: The Left (Germany)
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