The last thing the EU needs is a higher budget. Unelected bureaucrats that control a trillion dollar budget and have the ability to introduce legislation that supersedes national laws, what could possibly go wrong?
Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
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Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#32the budget doesn't have to be balanced, they can fund it with deficit
Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#33Europeans make around half of what similar roles make in US and pay up to 70% of their income in taxes (50% income + 20% vat). What are they spending all that money on?
Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#34This is a shortcut for taxing unrealized gains. They start with NW >100 million and start decreasing the concept of Ultra-Rich until everyone non-broke eventually pays it. In Spain it happened with the Work Tax which from >60k EUR (68k USD) goes to 45% as if earning 3k EUR (3.4k USD) per month made you rich.
shouldn't it be 5k per month?
Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#35Earlier quoted context omitted.
> DOGE did much less than that DOGE was a culture-war fever trip. There was zero actual effort at deficit reduction or catching grift and fraud.
Anyone who says "reduce bureaucracy by 90%" is on a culture war fever trip and doesn't actually care about efficient spending either.
And anyone who claims they're going to cut spending without touching Medicare or the Pentagon is talking tripe.
Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#36This is a shortcut for taxing unrealized gains. They start with NW >100 million and start decreasing the concept of Ultra-Rich until everyone non-broke eventually pays it. In Spain it happened with the Work Tax which from >60k EUR (68k USD) goes to 45% as if earning 3k EUR (3.4k USD) per month made you rich.
> In Spain it happened with the Work Tax which from >60k EUR (68k USD) goes to 45% as if earning 3k EUR (3.4k USD) per month made you rich.
Sounds worse than it is since it's progressive taxation meaning the effective tax rate for the entire 60k EUR is somewhere like ~29%, not 45.
€0 to €12,450: 19%
€12,451 to €20,200: 24%
€20,201 to €35,200: 30%
€35,201 to €60,000: 37%
Source: Gemini so it could be complete bullshit.
To be fair, VAT is heaver in Europe than for example US, so the overall tax burden might still feel more onerous.
Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#37This is a shortcut for taxing unrealized gains. They start with NW >100 million and start decreasing the concept of Ultra-Rich until everyone non-broke eventually pays it. In Spain it happened with the Work Tax which from >60k EUR (68k USD) goes to 45% as if earning 3k EUR (3.4k USD) per month made you rich.
> In Spain it happened with the Work Tax which from >60k EUR (68k USD) goes to 45% as if earning 3k EUR (3.4k USD) per month made you rich. Sounds worse than it is since it's progressive taxation meaning the effective tax rate for the entire 60k EUR is somewhere like ~29%, not 45. €0 to €12,450: 19% €12,451 to €20,200: 24% €20,201 to €35,200: 30% €35,201 to €60,000: 37% Source: Gemini so it could be complete bullshit…
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Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#38EU needs more integration ("federalisation") as internal borders amount to something like 40% tarrifs… :/
Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#39Earlier quoted context omitted.
Anyone who says "reduce bureaucracy by 90%" is on a culture war fever trip and doesn't actually care about efficient spending either.
And anyone who claims they're going to cut spending without touching Medicare or the Pentagon is talking tripe.
A username of "socialismkills" is also a good signal of a social war fever trip.
Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#40> Europe’s Ultra-Rich Could Fund a Substantial Part of the EU’s Budget > Taxes on wealth, crypto and financial trades could raise billions no single member state can collect alone. The sad reality is that as soon as the EU introduces this, these families won't be Europe's Ultra Rich anymore. They'll soon be the UK/Swiss/Dubai/Israel/US Ultra Rich. What the EU needs is: - Less bureaucracy - One capital market - More v…
> The sad reality is that as soon as the EU introduces this, these families won't be Europe's Ultra Rich anymore. They'll soon be the UK/Swiss/Dubai/Israel/US Ultra Rich.
Yeah, but the physical assets they own can’t move freely. The EU can still tax or seize assets within the EU.