Gabriel Zucman

speaker
485 appearances 1 recordings 1 series first heard Jul 2026 last heard 12 Jul

Gabriel Zucman’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months
1 · Jul OctJan 26AprJulnow

Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

Appearances

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They have found other ways.
But in the UK, in France, in all other countries where we've had studies, this problem that the US fixed in 1937 still exists today.
You put your wealth in a holding company, and boom, as long as the money stays in the holding company, you don't have income tax to pay.
There's some sequence for that, because this is really important.
What problem are we trying to solve?
The consequence of that is that if you look at how much, what's the effective tax rate of the working class, all tax included, VAT, payroll taxes, everything, is going to be, depending on the country, around 30%, 40%, 50% of their income.
For the middle class, the effective tax rate, all tax included, increases a little bit.
For the upper middle class, it increases a little bit.
And then for billionaires, it collapses.
It collapses 25% in France to less than 20% in Netherlands and so on.
This is a very important question.
What problem are we trying to fix?
It is this regressivity problem.
that I'm trying to fix.
So it's a question of fairness?
It's a basic question of equality before the law.
The most conservative interpretation that you can make of the principle of equality before the tax law is that wealthier people shouldn't be allowed to pay less tax
Relative to their income then the rest.
else, not rich people moving abroad, rich people moving some of their wealth to a foreign country like the Cayman Islands.
And to be very clear, if there was a wealth tax on the super rich, their worldwide assets would be taxable.
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