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Nobel Laureates Urge 2% Minimum Tax on Billionaires

7/9/2025

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Summary

Story summary

Seven Nobel laureates call for a minimum tax on the ultrarich in France through an op-ed in Le Monde.
They highlight that billionaires pay tax rates as low as 0% to 0.6%, far below average taxpayers.
A proposed 2% minimum tax could yield $250 billion globally, with $50 billion from Europe.
The French National Assembly backed the "Zucman tax," but the Senate opposed it.
Economists encourage France to pioneer wealth taxation despite pending international agreements.

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Story summary

Seven Nobel laureates call for a minimum tax on the ultrarich in France through an op-ed in Le Monde.
They highlight that billionaires pay tax rates as low as 0% to 0.6%, far below average taxpayers.
A proposed 2% minimum tax could yield $250 billion globally, with $50 billion from Europe.
The French National Assembly backed the "Zucman tax," but the Senate opposed it.
Economists encourage France to pioneer wealth taxation despite pending international agreements.