Party of the (Rich) People

Germany's Free Democratic Party once described itself as the "party of the well-off." Its leaders quickly realized the error of making such an exclusive description, but the moniker has stuck. As it enters the campaign for national elections Sept. 22, the FDP has come out for a sharp reduction in income taxes for the wealthy as the recipe for cutting unemployment.

Under the FDP's program, the top rate of income tax would drop to 35% from the present steep 48.5%. In addition, the FDP proposes to offer a 37,500 deduction for each child. "You say that reducing tax...