Kristian Vigenin: We want tax fairness and a new tax on the super-rich

„It is high time we made taxation of the super-rich fairer. Over the past decades their taxes have been falling on a global scale, which has led to the richest becoming even richer while the divisions and social inequalities deepened.“

This was stated by the head of the Delegation of the Bulgarian Socialists in the European Parliament Kristian Vigenin during the debate in Strasbourg on taxing the super-rich in order to eliminate poverty and reduce inequalities, which follows the G20 proposal.

Why a tax on the super-rich is needed

Vigenin pointed out that the richest increase their incomes mainly from the wealth they already hold rather than from work. In his view the differences between countries’ tax legal frameworks also help this.

„I hope we will start restoring fairness in today’s interconnected and ever less sustainable world. Taxing billionaires is only a first step“, Kristian Vigenin said to his colleagues in the plenary chamber of the European Parliament.

The MEP recommended that the European Union speed up work on harmonising the tax systems in the member states so that individuals or corporations cannot take advantage of loopholes in the legislation: „Only in this way will we be able to secure additional resources for the policies that matter to people.“

Tax fairness in Bulgaria

Kristian Vigenin pointed out that tax fairness is also becoming a central question for the socialists in Bulgaria. „We have come out for a comprehensive tax reform, abolishing the flat tax on income and returning to progressive taxation, introducing a second rate for the tax on company profits, and specific measures for the corporations that make so-called excess profits at people’s expense“, the head of the delegation of the Bulgarian Socialists in the European Parliament explained.