[sampo]

Since 2001, Netherlands used to have a "Box 3" tax. It took you wealth, assumed a 4% capital gains rate, and taxed this somewhat fictional income at 30%. (I guess it was pretty much mathematically a 1.2% wealth tax.)

In 2021, the Dutch Supreme Court rules the tax illegal and against human rights, because it taxes fictional income.

Since then, the Dutch government have been "missing" about 3 billion euros of tax income every year. So they have been somewhat desperate to reinstate some version of the "Box 3" tax back. This was their first version, and maybe they worked on it too hastily so the proposal is not good enough to pass.