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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The Rest Is Politics: Leading · 197. The Billionaire Tax Debate (Gabriel Zucman) · 12 Jul 2026 podcast

It reduced inequality a lot.

That's when level of income and wealth concentrations in the U.S.

reached their historical minimum.

And so, I know, like many other economists, at that experience, it seems like growth was strong, investment was strong, and there was much more equality.

This is not what you would favor today.

Why not?

Because the problem with our income tax is

that billionaires report no variable income.

And we are not going to fix that problem with 90% top marginal income tax rates.

We are going to fix that problem with some kind of tax that's based on wealth.

I think the main limitation of the

U.S.

or also British experiment with highly progressive income and estate taxation during the 20th century is that it never tried to address that issue perhaps also because for good reasons because extreme wealth had largely disappeared after World War II and so the question of how much income tax those people would pay was not really relevant but now extreme wealth

is making a comeback.

So we need to invent.

My proposal is not to say, let's do what was done in the past.

It was okay.

Let's kind of repeat old recipes.

That's not that.

The situation in 2026 is very different than the situation in 1950.

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