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EU-funded report calls for wealth of super-rich to be taxed, not income (www.theguardian.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 19 points 1 year ago (1 children)

Spain already does that and it's enough to be regular rich - you get taxed on assets over 3 million euro.

[–] [email protected] 3 points 1 year ago (1 children)

I know this is super lazy but if possible can you explain how this works in a sentence or two? Let's say I have 5 million invested in stocks.

[–] [email protected] 4 points 1 year ago (1 children)

5-3=2 then whatever is the percentage. Let's say 1%. That's 20k. You do your annual tax report and it will conclude you need to send 20k€ to the tax office. This in addition to any taxes you owe due to your earnings.

[–] [email protected] 1 points 1 year ago

Thank you. I have more questions now but I should probably just ~~google~~ websearch it at this point.