The European Union's budget, currently reliant on national contributions primarily from labor and consumption taxes, faces growing needs for investments in social and ecological transformation. A new analysis suggests that taxing the ultra-wealthy could substantially augment EU revenue, moving beyond the "who pays in, who takes out" debate.

Proposals include a minimum tax on individuals with net wealth exceeding €100 million, which carries significant revenue potential. Other options like financial transaction taxes, crypto asset levies, and aviation taxes are also explored. These EU-level levies would be more effective than national taxes due to the cross-border nature of financial trades, crypto assets, and flights, making them difficult for individual states to tax effectively.

The European Commission has proposed a larger budget for 2028–2034, aiming for nearly €2 trillion. While the Commission suggests channeling revenue from the Emissions Trading System and Carbon Border Adjustment Mechanism, alternative sources like wealth taxes could generate an estimated €41 billion annually. Such shifts could finance common European tasks and foster collective action.