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Tax The Rich EU-Petition Update (feddit.org)

submitted 10 months ago* (last edited 10 months ago) by 7eter@feddit.org to c/yurop@lemm.ee

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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

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[-] Kuinox@lemmy.world 47 points 10 months ago

Ideally we should massively share it in communities of the top 5 countries where the threshold wasn't reach.

So Denmark, Belgium, Italy, Netherlands and Slovenia.
But it's too late it end in 1.5 weeks.

[-] Servais@discuss.tchncs.de 16 points 10 months ago

Je viens de poster sur !belgique@jlai.lu, on verra si ça a un effet

[-] Kuinox@lemmy.world 10 points 10 months ago

Tu peux voir le feed temps réel sur le site.

[-] 7eter@feddit.org 4 points 10 months ago

That's great!

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[-] AI_toothbrush@lemmy.zip 40 points 10 months ago

Lol malta being last is so fitting.

[-] SmackemWittadic@lemmy.world 11 points 10 months ago

If only the Italian man who went there taught them about class inequality

[-] MrMakabar@slrpnk.net 25 points 10 months ago

The petition also needs to go over 1million signatures. So French and Germans signatures help as well.

[-] Valmond@lemmy.world 3 points 10 months ago

Already signed!

[-] gandalf_der_12te 14 points 10 months ago* (last edited 10 months ago)

signed

Edit/commentary: I understand that this proposal is less than ideal, because "tax the rich" is not going to solve the problem. We need a reform of our basic principles of economy. But it's a sign that something must be done against the inequality.

[-] madjo@feddit.nl 10 points 10 months ago

Hadn't heard of this yet. I signed it.

[-] ObamaBinLaden@lemmy.world 10 points 10 months ago

Only people living in Malta are billionaires

[-] verstra@programming.dev 10 points 10 months ago

Slovenia ahead of Croatia! Let's goooo, all I care about!

[-] atro_city@fedia.io 9 points 10 months ago

Europeans don't care. they just want to complain.

P.S signed

[-] 7eter@feddit.org 14 points 10 months ago

i believe they might not know that this is important and will affect folks who earn around 1000€ passively from interests... per day ^^

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[-] yggdar@lemmy.world 9 points 10 months ago

+1 from Belgium!

[-] Fuckswearwords@lemmy.world 6 points 10 months ago

I'm not against this initiative per se. But this is just another tax on middle class people and doesn't tackle the real wealth being hidden in multinationals that don't pay any tax and hold governments hostage by threat of moving their employment away. They are the problem. They pollute like no other because no one is ever held accountable.

[-] threeganzi@sh.itjust.works 10 points 10 months ago

What makes you say it’s a just another tax on the middle class?

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[-] AllNewTypeFace@leminal.space 5 points 10 months ago

Interesting that every country that was in the Soviet bloc doesn’t want a bar of this

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[-] Geometrinen_Gepardi@sopuli.xyz 4 points 10 months ago

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.

[-] Servais@discuss.tchncs.de 29 points 10 months ago

1.25 million euros per person on top of your main home doesn't allow you to retire?

[-] notabot@lemm.ee 3 points 10 months ago

It's probably not so much you can't retire, but you can't retire with an income that you'll be comfortable on.

A brief look suggests the average pre-tax wage in Belgium is around €3800, or about €45000 per year. Assuming you already own your home, or continue to pay mortgage payments at the same rate as before retirement, your pension needs to roughly match your income to not have a drop in living standards. A €1250000 pension pot will buy an annuity that pays a bit more than that, probably around €55000 a year, but assuming you amassed that in your pension pot you would probably have been on a higher than average salary, so it's going to be close, and an annuity at that level wont increase with inflation, so your buying power drops over time, just when you're more likely to need a care home or nursing support.

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[-] 7eter@feddit.org 12 points 10 months ago

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.

[-] chonglibloodsport@lemmy.world 5 points 10 months ago

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?

[-] Hacksaw@lemmy.ca 5 points 10 months ago

Yeah, the problem is you're shooting down a great initiative with an edge cases that affects maybe a couple dozen RV sleeping millionaires. Maybe he should participate and contribute to society!

[-] chonglibloodsport@lemmy.world 4 points 10 months ago

Edge cases are what these guys used to get their fortunes in the first place. The more common term for these is tax loopholes! Everyone knows that big corporations like Apple use them (“Double Irish” being the most infamous) but individuals use them all the time.

Anyway, the point I’m making is that I really don’t care about the RV sleeping millionaire, I care about taxing the 200 millionaire business owner I mentioned who would currently be exempt. Because of the loophole, you can bet that all of the “ultra-rich” are going to restructure their investments into a single business they own so that they can completely exempt themselves from the tax.

[-] Hacksaw@lemmy.ca 3 points 10 months ago

Yeah, start with this law then close loopholes. It's like you're climbing a cliff, you don't leap straight to the top you get handholds where you can find them and make your way up.

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