While a wealth tax has a long way before making a significant comeback in Europe, there is movement in Brussels. Such a tax would also establish the groundwork for a common tax system that would strengthen the EU as a whole, at a time when the continent's far-right Eurosceptic parties are attempting to weaken it ahead of the 2024 elections. However, without an integrity-based and transparent institution governing it, this would lead to the same old story. The rich will still win, as depicted by the recent European tax office data where the top 0.1% highest earners pay a decreasing tax rate as their income rises. Leaning back to Churchill's famous saying, "There is no such thing as a good tax."Â
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