I've spent weeks debating the new Dutch Box 3 tax reform—privately and online. With the Tweede Kamer approving it on Feb 12, 2026 , it's now hurtling toward the Eerste Kamer. Fundamentally it seems that neither the politicians nor much of the electorate fully understand the implications - "It's not that bad," they say. "Same as before.”.
This isn't a tweak—it's a fiscal sledgehammer to the middle class. It prevents wealth-building for everyday citizens, traps families into wage reliance, and locks generations into state dependency. Significantly, no party in the Netherlands campaigned on it in 2025 whilst the existing coalition partners claim to oppose it.
If it passes, it sets an EU precedent. Combined with inflation and red tape, it ends private wealth creation. Its the West's Fiscal Rubicon and if we cross it our continent will never be the same.
Take the following example: You invest €250/month for 30 years at an average 10% return. On the basis of a total investment of €90,000 the scenario’s on the financial returns are as follows:
- No tax on unrealized gains: €520,000
- Current Box 3 system: €410,000
- New Box 3 system (from 2028 onward, based on taxing unrealized gains annually): €287,000
This calculation doesn't yet account for market corrections where higher returns (which often follow) would lead to even higher tax payments under the new system. It also assumes you diligently sells at the right moment each year under the new system.
However, when we factor in an average inflation of 2.5%, this results in the following real purchasing power against the aforementioned investment of €90,000:
- No tax: €248,000 (lost purchasing power: €272,000).
- Current system: €196,000 (lost purchasing power: €215,000)
- New system: €137,000 (lost purchasing power: €150,000)
The implications are dire. The new Box 3 law plus inflation will effectively mean zero net growth in which no private individual will ever again have the opportunity to grow wealth. Your "investments" barely beat a savings account and barely outpace inflation. In an AI-driven, globalized world this weakens us and creates further reliance on thstate.
The @eerstekamer has one chance to prevent this. Vote NO. Protect freedom, property rights, and self-reliance. In the event that we allow this legislative monstrosity our country will never be the same again.
@VVD@cdanederland@christenunie@PVVNL @FvD @BoerBurgerB@GadSaad@wierdduk@MvRooijen@telegraaf@elonmusk@2eKamertweets@KonstantinKisin@joerogan@PeterMcCormack@WallStreetMav@geertwilderspvv@DilanYesilgoz@eelcoheinen@BitcoinNewsCom@hansvantelling@mariannezw
Unfortunately communism has found its way to my country. Unrealized gains tax + highest tax rate in Europe on investments at 36%.
Fortunate enough to be able to start a Dutch equivalent of LLC and evade this (this tax is on personal level not company level), but our government is on the brink of wiping out the middle class in my country.
Let alone all employees at companies like Nebius and ASML now need to pay 36% unrealized gains on their investments from 2028 onwards together with one of the highest income tax rates in Europe this will make the country less competitive going forward.
Fun fact is that the politicians know this in fact they are even concerned about it, but folded anyway to close a short term budget gap of roughly $2 billion.
We are about to run a major expirement that will be studied for years to come by economists and that has failed spectaculairly in the past.
Powerful second order effects:
> Listed top companies with share based compensation have difficulties to attract top talent, because nobody wants to work in the Netherlands
> Middle class investments wiped out and discouraged, allowing for them to lean in on social security, which increase costs
> Annual reducation in taxable income for the government in the medium / long term
> Wealthy individuals leave the country
> Reduce risk capital available to invest in the Netherlands directly in opposition with Draghi's EU report.
In fact I predict the results will be so scary and bad in a year or three that this will be reversed as soon as possible, but then the damage is already done. It's like watching a crash in slow motion from the side lines.
@NUnl Sparen had al geen zin, want inflatie. Nu heeft beleggen ook al geen zin meer. Dan maar 20 uur per week gaan werken en wat toeslagen gaan incasseren.