French economist Gabriel Zucman has advocated for a minimum annual tax rate of two percent on net assets exceeding 100 million euros. In a guest article for “Der Spiegel”, he points out that ultra-wealthy individuals in Germany are paying lower effective tax rates than average employees. Citing this, Zucman asserts that “this imbalance can no longer be ignored” noting that current legislation permits the wealthy to structure their assets in ways that minimize taxable income. Furthermore, he argues that while the conflict in Iran is driving up energy prices, severely impacting both private households and businesses, a crucial question remains largely unaddressed: what contribution should the very affluent-the millionaires and billionaires in the country-make? Gabriel Zucman teaches economics at the Paris School of Economics, École Normale Supérieure – PSL, and holds a summer professorship at the University of California, Berkeley. He is also the founding director of the International Tax Observatory.
Politics
