July 28, 2026
EUro Drama: Eat the Rich Edition
Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
Tax the mega-rich? Europe’s comment section instantly turned into a class war
TLDR: The EU is considering new taxes on the super-rich, crypto, and financial trades to help pay for a larger shared budget. Commenters instantly split between cheering a hit on billionaires, fearing a slippery slope toward taxing everyone, and joking that this is the birth of a more federal Europe.
Europe has floated a headline-grabbing idea: help fund a much bigger EU budget by taxing the ultra-rich, plus things like crypto trades and financial transactions that jump borders too easily for single countries to catch. The pitch is simple enough for non-economists: instead of leaning so heavily on taxes linked to ordinary wages and shopping, Brussels could go after money at the very top. And wow, the community did not take this quietly.
The loudest reaction was basically: “So this is how the United States of Europe begins.” That line became the thread’s instant movie trailer voiceover, with people treating the proposal as either a bold next step for Europe or a giant flashing warning sign about more centralized power. Others were much less sentimental and far more savage: sympathy for the ultra-wealthy was somewhere below zero, with one commenter shrugging that billionaires will probably survive just fine.
Then came the real drama. Critics warned this is how a tax aimed at people worth more than €100 million magically creeps downward until “everyone non-broke” gets hit. Another faction rolled its eyes at the usual anti-government panic, arguing budget cuts often sound macho but barely move the needle. The funniest bit? Even in a debate about public finance, the comments somehow turned into a mashup of anti-bureaucracy rant, rich-people violin jokes, and federal-Europe memes. In other words: classic internet politics — where every tax proposal becomes a culture war by page one.
Key Points
- •The article says EU spending needs for 2028–2034 have grown, especially for social and ecological transformation.
- •It reports that the European Commission has proposed a 2028–2034 EU budget of nearly €2 trillion, or about 1.26% of EU GNI, up from roughly 1.1% in the current framework.
- •The current EU budget is described as being financed mainly through member-state GNI-based contributions, supplemented by VAT revenue and customs duties.
- •The article argues that this financing model encourages debate about national net positions rather than common European public goods.
- •Among the revenue options assessed, the article says a minimum tax on individuals with net wealth above €100 million has the largest revenue potential, alongside possible levies on crypto transactions, financial trades and flights.