What is the "Zucman tax", the wealth tax that is dividing French MPs?

France's National Assembly recently turned down two significant proposals aimed at taxing the ultra-wealthy, which has sparked disappointment among advocates for economic equality. The rejected ideas included a 2 percent tax on assets exceeding €100 million proposed by economist Gabriel Zucman and a 3 percent tax on assets over €10 million from the Socialist Party. This decision is crucial as it reflects the ongoing struggle to address wealth inequality in France, raising questions about the government's commitment to fair taxation.

Today marks a significant moment for the French government as MPs gather to debate the 'Zucman tax', a proposed wealth tax targeting the ultra-rich. This discussion is crucial because the Socialist party has indicated it may withdraw its support if the bill or a similar measure isn't passed. The outcome could have major implications for fiscal policy in France, highlighting the ongoing tensions around wealth distribution and taxation.

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