It is not only sad that fellow citizens want to impoverish Europeans, but also completely counterproductive, especially in the context of an aging population and struggling pension systems. Here's the thing: European countries already have pension systems based on pay-as-you-go models, where current workers fund retirees. But as the population ages and fewer people are working compared to those retiring, the math just doesn't work anymore. The pension system simply won’t be able to sustain the increasing number of retirees.<p>In this context, citizens need to save and build personal capital to ensure they can retire comfortably. The problem with a wealth tax is that it discourages exactly that: saving and investing. By taxing accumulated wealth, you're punishing those who manage to put money aside for their future. This discourages long-term planning and encourages short-term consumption instead.<p>The irony is that governments should be promoting savings and investments to fill the gap where pension systems will inevitably fall short. A wealth tax sends the opposite message and risks leaving people even more vulnerable when they retire, without the state providing enough, and without citizens having been incentivized to build their own safety net.<p>It's one of those "feels-good-on-paper" policies that ends up hurting the very people it's meant to help by making it harder for them to secure their own financial future.