Gabriel Zucman Defends Wealth Tax Proposals in French Parliament

Economist Gabriel Zucman made a strong defense of his proposed wealth tax for the ultra-rich during a recent debate at the Assemblée nationale, emphasizing the importance of such measures in combating economic inequality. On October 1, 2025, Zucman argued that the current taxation strategies need reform to address the vulnerabilities that allow the wealthiest individuals to exploit loopholes for tax optimization. He expressed concern that without a targeted approach, the effectiveness of any tax policy could be significantly undermined.

Zucman’s advocacy for a specific tax on the ultra-wealthy has resonated strongly not only among the political left but also with the general public, who largely support initiatives aimed at reducing wealth disparities. According to a report, more than two-thirds of the French populace are in favor of implementing a floor tax on the wealthiest individuals, a sentiment that has gained momentum amid rising concerns over income inequality, as noted in a recent article.

The backdrop to these discussions includes a larger conference on wealth taxation, in which notable economists, including Nobel laureate Joseph Stiglitz and Indian economist Jayati Ghosh, participated. They addressed the urgent need for effective policies targeting the ultra-rich to ensure a more equitable economic landscape.

Zucman clarified at the Assemblée nationale that the goal of his taxation proposal is not to impose excessively higher rates on the wealthy, stating, "It is not about making them pay much more, but ensuring that they contribute fairly to the economy." This balance is seen as crucial for garnering wider acceptance of the tax among various stakeholders.

As the debate continues, the discussions around Zucman’s wealth tax proposal spotlight the shifting attitudes within France regarding economic policy and the nation’s commitment to fighting inequality. With assembly discussions ongoing, many are keenly observing how these proposals will evolve in the upcoming months, particularly as budgetary policies are re-evaluated in the light of public sentiment.