Unexpected good news from Hungary: a wealth tax starting at around €3m (only 1% so far, with 1.5% from €300m).

This was only possible because all the rich people had become so closely intertwined with Orban over 16 years, so their counter-lobbying didn’t work.

Obviously, the tax rate is way to small (only slowing the rate at which inequality is increasing), but if that’s what a conservative government does, progressive ones should be able to go much higher.

https://www.reuters.com/business/hungary-government-proposes-wealth-tax-ultra-rich-2026-10-06/