Particle.news

Download on the App Store

Piketty Calls Zucman Wealth Tax Too Soft as Government Weighs Milder Alternative

After Bernard Arnault's broadside, the budget talks point to a 0.5% contribution that would spare business assets.

Overview

  • Thomas Piketty argued the 2% minimum on fortunes above €100 million is the strict minimum and said non‑payers could face asset freezes or even being stopped at airports.
  • The government is exploring a lower‑rate, ISF‑style option around 0.5% that excludes professional assets rather than adopting the full Zucman plan.
  • Gabriel Zucman rejected Bernard Arnault’s portrayal as calumny and pressed for a fact‑based debate, stressing the measure would apply to about 1,800 households.
  • Revenue and behavioral effects remain disputed, with supporters citing roughly €20 billion a year and other economists estimating closer to €5 billion and warning of fiscal exile.
  • Business groups and right‑leaning politicians label the proposal a threat to investment, while the Socialist Party warns a watered‑down levy would not meet its conditions in budget talks.