The French economist Gabriel Zucman has called for the implementation of an annual wealth tax, suggesting a minimum rate of two percent on net assets exceeding 100 million euros. Writing a guest contribution in “Der Spiegel”, he asserts that in Germany, the ultra-wealthy pay lower effective tax rates than the average worker. Zucman stressed that this imbalance-which he noted is becoming impossible to ignore-is facilitated by current laws that allow affluent individuals to structure their assets in ways that result in minimal taxable income.
He added that while the war in Iran is driving up energy costs and affecting both private households and businesses equally, a crucial issue remains largely out of focus. Specifically, Zucman questioned what contribution should be expected from the wealthiest segment of the population, referring to millionaires and billionaires.
Gabriel Zucman teaches economics at the Paris School of Economics and the École Normale Supérieure – PSL, and maintains a visiting professorship at the University of California, Berkeley. He is also the founding director of the International Tax Observatory.