Context
Belgium has introduced a 10% capital gains tax. Multiple EU countries and G20 nations discuss wealth taxes on the ultra-rich. 75% of millionaires polled support a 2% wealth tax on billionaires.
Progressive Wealth Tax Structure
1%
€100M - €500M net wealth
2%
€500M - €1B net wealth
3%
Above €1B net wealth
Policy Positions
- Proportional income taxation — Simplified brackets, lower rates for low/middle income, remove loopholes at top
- Exit tax provisions — 5-year tax obligation for those relocating to avoid wealth tax
- Aggressive anti-evasion measures — Full cooperation with EU Tax Observatory, automatic information exchange
- EU-level coordination — Advocate for minimum wealth tax across EU to prevent jurisdiction shopping
- Revenue allocation — 100% of wealth tax revenue dedicated to green transition, defense, and social infrastructure
Key Arguments
- Billionaires currently pay effective tax rates of 0-0.5% on wealth — lower than workers
- EU-wide wealth tax could raise €286B+ annually according to Oxfam research
- Extreme wealth concentration threatens democratic legitimacy
- High threshold (€100M) affects only ~0.01% of population — the true ultra-rich