Earlier quoted context omitted.
We could do both. There is very little sympathy for the ultra wealthy though. I suspect they'll be fine.
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Don’t feed the troll. New account, look at their name.
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
#12Re: 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
#14Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#15Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#16Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#17Unlike the US, wealth takes on the EU could perhaps raise revenue without disrupting innovation, because here in the EU, we have little innovation and self made wealth to begin with - so there's nothing to disrupt.
But taxing inheritances would still be preferred mechanism rather than taxing unrealized gains I think. That would target the EU's unproductive rent seeking heirs the best.
Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#18For how long?
Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#19This 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.
There’s a long way between NW >100 million and making 60K EUR.
Maybe if they taxed NW >100 million, you wouldn’t need a 50% tax on work.
Re: Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
#20Earlier quoted context omitted.
Cutting 90% of 5% of the budget is not a meaningful reduction. DOGE did much less than that, and did far more harm than good.
> 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.