Is this something we should emulate to pay for the huge economic costs of Covid 19? This is why we're proposing a wealth tax in Spain to help us out of this crisis My country’s recovery from coronavirus should be funded by those who can afford it. A new levy could generate €10bn https://www.theguardian.com/commentisfree/2020/may/25/spain-crisis-wealth-tax-coronavirus "One of the most important points is the proposal to create a tax on wealth. At the moment in Spain, there is a tax on wealth of sorts – but it is ineffective because the regions (comunidades autónomas) can autonomously decrease it almost to zero and thus practise tax dumping. As a result, and thanks also to the rest of the tax system, inequality in Spain grew significantly during the last decade. Now the wealthiest 1% owns 25% of the country’s wealth, while the poorer 20% just owns 0.1% of the pie. We are proposing that Spain puts in place an effective tax on wealth to generate over €10bn every year, around 1% of GDP. This can be done without taxing the middle class at all; it would be a progressive scheme, starting at 2% for net wealth over €1m – and concentrating most on the revenue of the 1,000 richest people".