US EditionSeven Nobel Laureates Urge France to Adopt Tax on 'Ultra-Rich'
FRANCE, JUL 7 – Seven Nobel laureates propose a 2% minimum wealth tax on billionaires to raise $250 billion globally from 3,000 individuals, addressing low effective tax rates among the ultrarich.
- Seven Nobel laureates published an op-ed in Le Monde on Monday urging France to adopt a 2% minimum tax on wealth over €100 million to tax the ultra-rich.
- This call follows the French National Assembly's February vote to approve the wealth tax bill, while the Senate rejected the so-called Zucman tax last month.
- The tax aims to raise significant revenue from the wealthiest households, targeting forms of tax avoidance and remaining applicable for five years after taxpayers leave France.
- The op-ed highlighted that globally, a 2% minimum tax on billionaires' net wealth could generate about US$250 billion from 3,000 individuals, stressing no need to wait for international agreement.
- If implemented, the measure could help France address ballooning public deficits and position the country as a leader on taxing extreme wealth amid growing international momentum.
17 Articles
17 Articles
According to the seven economists, taxing wealth through a floor tax expressed as a percentage "is effective because it attacks all forms of optimisation, whatever the nature"
This forum, notably signed by the Francaise Esther Duflo, defends the setting up of an impot floor for the ultrarich, at the global level.
Seven Nobel Prize-winning economists appeal to French politics to introduce a minimum tax on the wealth of the wealthiest, inspired by the proposal of the economist Gabriel Zucman. In an editorial published Monday on Le Monde Daron Acemoglu, George Akerlof, Abhijit Banerjee, Esther Duflo, Simon Johnson, Paul Krugman and Joseph Stiglitz write that it would be the occasion for France to show the way to the rest of the world. Starting to heal a sys…
Radio France Internationale
Modern GhanaSeven Nobel laureates urge France to adopt tax on 'ultra-rich'
Seven Nobel Prize-winning economists have called on France to implement a minimum tax on wealthiest households, endorsing a measure inspired by the so-called "Zucman tax" that was rejected by the French Senate last month. The proposal comes as the French government looks for new sources of public revenue to balance its strained public finances.
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