[systemtest]

For the 2022 tax proposal: You take your invested net worth at January 1st. That is everything besides your saving account and first home. So the value of your second home, artwork you bought as an investment, stocks, bonds, money loaned out, money in the HOA. A 5.33% gain on your investments is assumed which is taxed at 33%. So effectively 1.75% of your invested net worth has to be paid as a tax.

Debt such as a mortgage can be subtracted but not at the full 5.33%. So if you have a mortgage of €200,000 and a second home that is worth €200,000 then you owe about €1400 in tax each year, despite not having any net worth at all.