France’s government is deadlocked over a proposed wealth tax on the richest households, with the 2% “Zucman tax” facing opposition from business leaders. The Socialist Party’s compromise “Zucman Light” offers a lower threshold, but economist Gabriel Zucman warns loopholes would undermine the tax.
Posted by Koszulium
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the note about Zucman warning about loopholes is hilarious.
He’s nominally a smart guy and a respected economist so I’m trying hard not to employ expletives here. But when pressed on some of the distortionary effects of his tax proposal he himself immediately offered up loopholes, including deferment or having some entrepreneurs directly meet with the finances minister to get individual tax deals.
!ping France