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A Green Party member of the European Parliament is taking a strong stand for “justice and climate action” following their attendance at the Vienna Opera Ball in Austria.

Lena Schilling arrived at the red carpet event in a light blue dress featuring the slogan ‘tax the richSave the climate” – while carrying a sign that reads: “The world is dying due to excess.

The stunt mirrors the actions of US congresswoman Alexandria Ocasio-Cortez, who arrived at the Met Gala in 2021 wearing a white dress featuring the message ‘TAX THE RICH’.

Lena Schilling’s ‘tax the rich’ dress

“We are unable to stop the climate crisis while the ultra-wealthy benefit from untaxed inheritances as though there’s no future, particularly when life is becoming too expensive for so many individuals,” Schilling states in a message shared with Euronews Green.

They did not acquire this hereditary wealth any more than children facing poverty did. It would be more beneficial to allocate it towards kindergartens, public transportation passes, and hospitals.

Schilling criticized OMV, one of Austria’s leading industrial firms focused on oil, gas, and petrochemicals, which serves as the primary sponsor of the Vienna Opera Ball.

“The climate crisis will impact everyone here as well, but those with the least financial resources experience the effects first,” the MEP notes.

Since 1980, extreme weather– associated with increasing temperatures – has caused a remarkable €738 billion in losses throughout Europe.

“Just picture the impact that money could have had on climate initiatives, education, and our healthcare system,” Schilling says.

My objection is clearly not directed at the mother who is proudly watching her daughter perform the opening waltz tonight. It’s about the 400 ultra-wealthy people in Austria who have assets exceeding €100 million and benefit from the damage inflicted on our planet.

Should Austria impose taxes on the ultra-wealthy?

On Instagram, the MEP encouraged her 40,000 followers to support a petition asking the Austrian government to impose fair taxes on the ultra-wealthy, including reinstating inheritance taxes that were removed in 2008.

Individuals with substantial wealth have the capacity to contribute more to society,” states the petition. “In many nations, a tax on the ultra-wealthy has been in place for a long time.

The Green Party cites the example ofSouth Korea, which claims to have gathered approximately €9 billion from a single inheritance by the Lee family, founders of Samsung Electronics – which has assisted in lowering taxes for mid-sized companies and developing essential infrastructure like schools.

Samsung is among South Korea’s top contributors in terms of taxes, although this can fluctuate based on its financial performance. With an inheritance tax rate of 50 per cent, South Korea holds the second-highest rate globally, following Japan.

“But how does it work in Austria? You work hard and earn €2,000 per month. Do you have to pay taxes on your income? Yes,” the petition states.

But someone inherits €50 million. Do the ultra-wealthy pay taxes on it? No! Do you believe that’s just?

How might Austria’s inheritance tax system be structured?

There has been an increasing demand in recent years to bring back Austria’s inheritance and wealth tax. The Green Party is advocating for a threshold for inheritances of up to €1 million, or €1.5 million for properties where the primary residence is registered.

Following this, any inheritance amounting to up to €5 million would be taxed at 25 per cent, rising to 30 per cent for inheritances ranging from €5 million to €10 million – and reaching 35 per cent for sums beyond that.

It also mentions that there should be exceptions for agricultural operations and small family-owned enterprises, stating: “The local plumber is not comparable to a multi-billion-dollar company controlled by the wealthiest families in the nation.”

The environmental party claims that this tax would generate a minimum of €1.5 billion annually.

The petition highlights and exposes 10 extremely wealthy individuals and families residing in Austria, each possessing assets surpassing €3 billion. This list includes Mark Mateschitz, who holds nearly half of Red Bull, and Reinold Geiger, the former CEO of L’Occitane en Provence.

As of now, the petition has collected 9,418 signatures. You canfind out more here.