It’s not a structural solution at all. But at the moment it’s maybe the best we have?
Some more context:
This initiative calls on the European Commission to establish a European tax on great wealth. This would contribute to the Union’s own resources, and the revenue would make it possible to amplify and perpetuate European ecological and social transition and development cooperation policies, cofunded by the Member States. The contribution would be used to combat climate change and inequality and would help to ensure that European citizens pay their fair share towards achieving these objectives.
Once we have great wealth from taxing the great wealth, instead of funding wars like in the US, we can consider making a gradual universal basic needs program or some other similar programme, improve general quality of life or transition to a different economic approach.
I made the theory of a UBN programme, which can be found here.
The Universal Basic Needs (UBN) programme is a global initiative that provides free access to essential services such as food, water, healthcare, education, transportation, electricity, communication, and housing. Its main goal is to eliminate poverty and the need to work to live, create a qualified workforce and make resources accessible to everyone, regardless of income or employment status.
The program’s production and logistical network is efficient, equitable and sustainable thanks to its reliance on advanced systems. For example, the use of synthetic meats and grains instead of traditional foods requires less land, water and energy, reducing environmental impact and increasing efficiency. Deliveries by bike and drone further minimizes the carbon footprint.
Unlike other welfare programs that have extensive eligibility criteria, UBN is open to everyone with minimum requirements, reducing stigma, bureaucracy and the impact of social and economic systems that perpetuate poverty and inequality.
UBN, as a whole, is a comprehensive approach to global welfare that addresses both social and environmental issues and has the potential to transform the lives of millions of people around the world.