We need taxes for all - also the super-rich.
"Tax the rich" is an official EU petition. The EU Parliament has to deal with it when successful.
7 EU countries must reach the quorum. And in total 1M Votes are needed. Check yours in the chart and share, cross post etc.!
The petition calls for the introduction of a wealth tax on very large fortunes. Sign the petition here
From https://www.tax-the-rich.eu/home#info
What a bad initiative. This would basically guarantee that people in Europe can't ever retire on a modest income.
This just qualifies as ultra-rich - which is not wrong, imho. I don't know the exact conditions for Belgium but in Germany the taxes would start to show effect at 4,6 million with 2%. If you think about it assets in this magnitude could easily lead to 1000€ daily passive income. Those 2% wont hurt.
But it doesn’t include the home or business assets. So you could have one guy with €1.25 million in stocks who lives off a modest income from dividends and sleeps in an RV and he would be classified as ultra rich.
Another guy could live in a €2 million mansion and be the owner of a €100 million business (but have no other investments) and be classified as NOT ultra rich. See the problem?
Why should someone be able to live off dividends if they have “ultra-rich” wealth at the bank? This person has a lot of money so if they live in an RV it’s obviously a choice they made.
Plus they could just spend some of that stock money and go below “ultra rich” level and get taxed less. And perhaps then they have to use part of their non-ultra-rich wealth to live their RV dream life to supplement their dividends. Doesn’t sound too bad.
TLDR; I don’t feel bad for someone that can’t live dividends when hey have more than one million euro in the bank.
Edit: while is still stand by comment, I do see I missed your point about fairness. Not too big of a problem in my mind. Or perhaps a solution would be to tax home values above X amount? (Edit2: and only the amount above X)