@fuzztech the tax rate is left for the lawmakers (EU Parliament) to decide. in "Capital and Ideology", Piketty proposes a rate of about 1-2% a year, to be applied only on great wealth (French: grandes fortunes). The ECI makes an example for Belgium, defining great wealth as net worth of over 1.25 million, excluding one's home and any assets used in one's productive activities (which are not taxed).