In conversation with journalist Maria Tadeo, Gabriel Zucman dismisses the impression that his proposal is a demand that has been made before in new guise. This is not about symbolic criticism of the wealthy, but an approach that is based on research and the analysis of both historical and international experiences, he argues. The key issue is the practical question of how to prevent the super rich from undervaluing their assets or evading taxation through avoidance strategies. That is exactly what makes his proposal so new: he wants to learn from past successes and mistakes and develop concrete, actionable solutions. “If you are not fine with the idea of a minimum tax, then you are fine with them paying no taxes at all.” This is not a radical position, Zucman says, but above all a reaffirmation of a simple democratic principle: equality before the law. -fw

Katrin Rulle

Gabriel Zucman points out that Europe already has considerable experience with wealth taxes – though with very poor results. He says the problem was not the idea itself, but the way it was structured, with large corporate shareholdings, in particular, often exempted. These are precisely the forms of wealth in which billionaires hold their money. We must learn from these mistakes, rather than writing off wealth tax altogether. Zucman makes a clear proposal: no one should be exempt; extreme wealth must be linked to an unavoidable duty towards the community. This is exactly what the minimum 2% tax on very large fortunes should achieve. -fw

Katrin Rulle