Overview

• Bernard Arnault told the Sunday Times that Gabriel Zucman is a 'pseudo‑universitaire' and 'militant d’extrême gauche' and warned the proposed levy would 'mettre à terre l’économie française'.
• Zucman rejected the accusations as 'calomnie', urged a debate grounded in facts, said he is not a political activist, and argued billionaires pay little income tax with strong public support for ending that privilege.
• The proposal would impose a 2% annual minimum tax on net wealth above €100 million, targeting about 1,800 tax households, with revenue around €20 billion according to proponents, a figure other experts dispute.
• Support and opposition hardened as the left backed the measure, business groups such as Medef and Bpifrance denounced it as harmful, and RN deputy Jean‑Philippe Tanguy called it 'intellectuellement très faible' and predicted the ultra‑wealthy would leave.
• After passage in the National Assembly earlier this year and a Senate rejection over the summer, the plan is at an impasse, even as Arnault highlights that LVMH has paid nearly €15 billion in corporate taxes in France over ten years.