Should the European Union implement a direct wealth tax on multimillionaires to fund climate and social initiatives?

An EU-wide wealth tax proposes levying a direct tax on the net wealth of the ultra-rich across all member states to generate independent revenue for the EU budget, often targeted at the green transition. Proponents argue it prevents capital flight between member states, tackles historic inequality, and raises essential funds for climate goals without burdening the working class. Opponents argue that taxation is a core national sovereignty right, that wealth taxes have historically failed and caused capital flight out of Europe entirely, and that it gives too much financial power to the European Commission.