On October 17th, the world observes the International Day for the Eradication of Poverty, a day that serves as a reminder of the deep inequalities that persist in our society. While millions suffer in poverty, the rich continue to amass wealth, exploiting a system designed to protect their fortunes. 

In 2022, approximately 95.3 million people in the European Union were at risk of poverty or social exclusion, representing about 22% of the total population. Young people, particularly those under 25, face high unemployment rates and precarious working conditions, putting them at a greater risk of poverty. In countries like Italy, Spain, and Greece, youth unemployment has been a significant issue, especially following the 2008 financial crisis and the COVID-19 pandemic. 

Meanwhile, Europe’s wealthiest individuals, including Bernard Arnault (LVMH), Françoise Bettencourt Meyers (L’Oréal), and Amancio Ortega (Zara) or even Jeff Bezos (Amazon), Elon Musk (Tesla), saw their fortunes swell by billions during the COVID-19 crisis. Arnault, who became the world’s richest person in 2023, saw his wealth surpass $200 billion, largely due to stock market gains and the booming luxury goods sector, despite the economic downturn affecting many people. With that amount, every public primary school in all 26 EU member states could be thoroughly renovated — and there would still be 100 billion USD left over. 

The wealthy do not become rich through hard work; they often exploit workers, avoid taxes, and benefit from a capitalist system rooted in class struggle, which prioritizes profits over people. Poverty is not inevitable; it results from political choices, reflecting deliberate intent and agency behind the significant transfer of wealth. Taxing the rich is essential to generating the revenue needed to fund public services, education, healthcare, and housing—critical elements that can lift people out of poverty. 

Tax the rich. End poverty. The wealth of the few should serve the many, not the other way around. 

Economic justice is not charity; it is a right.