France’s tax for rich people – level 2
30-09-2025 15:00
France is discussing a new “Zucman tax” on very rich people who own more than 100 million euros.
Economist Gabriel Zucman wants a 2% tax each year on this group, about 1,800 people in France. Supporters say it is fair because rich people often pay less tax than others, and the money could help hospitals, pensions, and the military. They believe the tax could bring in 20 billion euros in France and even more in the EU. Critics think the number is too high and say rich people may invest less or find ways to avoid paying.
Other countries, like Spain, Norway, and Switzerland, already have taxes for very rich people. In France, the old wealth tax ended in 2018, replaced by a tax on property.
Difficult words: pension (money for people when they stop working), critic (a person who says what is bad or wrong about something), avoid (to stay away from something or not let it happen), property (houses, lands, or buildings)
You can watch the original video in the Level 3 section.
Which countries are cited as already having taxes on very wealthy individuals?
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