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  3. Economics

Transferentzug

English translation: benefit withdrawal

09:29 Sep 22, 2010
German to English translations [PRO]
Bus/Financial - Economics
German term or phrase: Transferentzug
Dieses System ist dem amerikanischen Earned Income Tax Credit nachempfunden und an die deutschen Verhältnisse angepasst. Es wurde bereits im Jahr 2002 vom ifo Institut vorgestellt und diente als Grundlage des im Jahr 2003 mehrheitlich vom Bundesrat angenommenen, dann aber am Vermittlungsausschuss gescheiterten Existenzgrundlagengesetzes. Es führt zu einer automatischen Lohnergänzung bei Geringverdienern auf dem Wege einer negativen Einkommensteuer, vermeidet Einkommensverluste am unteren Rand der Einkommensverteilung, senkt den Transferentzug auf massive Weise und ist so austariert, dass es im Vergleich zum Hartz-IV-Modell zu einer Entlastung
der öffentlichen Haushalte führt.

I've never heard of transfer withdrawals in an economic context - that would make me think of some sort of online banking thing and I'm guessing that's not what we're talking about here!
Thanks for any help!
Trevor Pettit
Local time: 05:11
English translation:benefit withdrawal
Explanation:
I agree with Michael that this is about the loss / withdrawal of benefits as earnings rise. This is what is sometimes referred to as the "earnings trap" leading in effect to very high marginal rates of tax for low earners.

So whatever "es" or "dieses System" is, it drastically reduces the withdrawal of benefits [or possibly the rate at which benefits are withdrawn].
Selected response from:

Paul Skidmore
Germany
Local time: 06:11
Grading comment
Thanks Paul
4 KudoZ points were awarded for this answer



Summary of answers provided
3benefit withdrawal
Paul Skidmore


Discussion entries: 2





  

Answers


5 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
benefit withdrawal


Explanation:
I agree with Michael that this is about the loss / withdrawal of benefits as earnings rise. This is what is sometimes referred to as the "earnings trap" leading in effect to very high marginal rates of tax for low earners.

So whatever "es" or "dieses System" is, it drastically reduces the withdrawal of benefits [or possibly the rate at which benefits are withdrawn].

Paul Skidmore
Germany
Local time: 06:11
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thanks Paul

Peer comments on this answer (and responses from the answerer)
neutral  gangels (X): actually "cut in transfer payment", they get less, but the program is not eliminated
1 hr
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