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France Proposes Permanent Wealth Tax to Combat Debt

4/13/2025

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Summary

Story summary

France's economy minister, Eric Lombard, is advocating for a permanent wealth tax to promote fairness in government funding. This move would require high earners to contribute at least 20% in income tax, potentially raising two billion euros for 2024. Lombard's proposal seeks to tackle tax evasion while confronting the looming threat of the nation's 3.3 trillion euro debt.

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Story summary

France's economy minister, Eric Lombard, is advocating for a permanent wealth tax to promote fairness in government funding. This move would require high earners to contribute at least 20% in income tax, potentially raising two billion euros for 2024. Lombard's proposal seeks to tackle tax evasion while confronting the looming threat of the nation's 3.3 trillion euro debt.