It is possible that the wealthy will receive a new tax of 5%, but we are still very far from the practical implementation of this tax.

The rich tax started on October 10! It’s called the European Citizens Initiative (ECI), which is trying to get the signatures of at least one million EU citizens in one year, and can be read in this week’s HVG.

The initiative, which is also supported, among other things, by French economist Thomas Piketty, says that during the first two years of the coronavirus pandemic and the accompanying livelihood crisis in many places, 63% of total new wealth ($26 trillion) was depleted. It went to the richest 1 percent, while it went to only 37 percent of the rest of the world. But they also point out that the richest 1% of the EU population have gained four and a half times more wealth since the crisis than 90% of society eventually did.

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For this reason, the European Union can obtain approximately 250 billion euros annually from the 5% wealth tax imposed by the European Union on the richest people, and this money will be financed by the initiators of the green economic transition, because the climate-neutral economic transition requires massive investments. .

Of course, all this is still far from becoming a reality, but according to László Andor, Secretary General of the Foundation for European Progressive Studies (FEPS), a Brussels-based think tank that brings together European left-wing progressive parties, the fact is that the European Commission’s acceptance of the initiative has sent a message to the authorities in that matter.

More details will be available on this week’s HVG and HVG360.







HVG


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