Home Politics Taxing the super-rich from €50m assets: Proposal by 130 MEPs

Taxing the super-rich from €50m assets: Proposal by 130 MEPs

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More than 130 members of the European Parliament have signed a petition in favor of creating a wealth tax “Obscene wealth” internationally to participate “Environmental and Social Transformation”.

“What we have done for multinationals, we must now do for the very rich.”Written in a column published in “Le Monde”, Aurore Laloc (PSD, left) and economist Gabriel Zucman, at the initiative of this campaign.

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Our proposal is simple: a progressive tax on the wealth of the super-rich on an international scale in order to reduce inequality while co-financing the investments needed for the environmental and social transition.explained MEP and economist, a recognized expert on tax evasion and high-income taxation.

The aggregate case: “It is time for public power to regain control over private power”

A tax whose amount is determined “democratically”

The authors mention the idea of ​​taxing 1.5% of a €50 million legacy, while emphasizing the need to determine the exact level of taxation. “collectively and democratically”. Aurore Laloc and Gabriel Zucman called on the Organization for Economic Co-operation and Development and the United Nations to launch negotiations on this tax, and urged the European Union to act.

They claim that in 2018, Elon Musk was the second richest man in the world, “You haven’t paid a penny in federal taxes.” and that in france, In fact, only the 370 wealthiest families are taxed at a rate of only 2 to 3%..

“to make a big environmental and social noise”

The petition was signed by environmental and left-wing MPs in the European Parliament, dozens of economists and international NGOs including Oxfam.

In support of their observations, Aurore Lalucq and Gabriel Zucman cite the example of a minimum tax of 15% on the profits of multinational corporations, which some 140 countries have adhered to. “When everyone kept saying it was impossible”.

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