Gabriel Zuckman

The tax problem makes the problem worse because while the rest of us are paying large amounts of taxes or large proportion of our taxes in the income, these people are not paying much or if anything.

This is not to say that we can fix all the problems of the world just with taxing billionaires.

If all of France is billionaires,

was to flee to the Cayman Islands tomorrow, the loss of tax revenue to the country would be insignificant.

We need to tax the billionaires.

You hear it all the time.

Around the world, the populist left, others too, argue there are two economic worlds, them and us.

Not just the rich, but the super, super rich.

The haves and the have-yots.

There can be no doubt in some ways that we are living in a new gilded age where the billionaires live on an almost different political and economic plane.

A private jet, no doubt.

Here's a stat.

The 2024 UBS Billionaire Ambitions Report found that global billionaire wealth rose from about 6.3 trillion in 2015 to...

to $14 trillion in 2024, an increase of roughly 121% in less than a decade.

And it is wealth which begets wealth, to such an extent that no one else can ever hope to catch up.

Now, the left often talks the talk on wealth taxes.

We've heard it from West Streeting and Andy Burnham just this week.

Governments, though, have a patchy record of carrying them out.

Where they've been tried, they've largely failed.

So enter Gabriel Zuckman.