Economist Gabriel Zucman argues that a wealth tax may be necessary to ensure billionaires pay their fair share of taxes, as they often report no income and pay no income tax. Zucman discusses how California's Proposition 40, which would implement a one-time 5% wealth tax on the state's billionaires, is an example of this approach. In an interview with Mehdi, Zucman debunks common arguments against wealth taxes, including claims that they will drive away business. He cites his own book "We Need To Tax Billionaires" as evidence for the urgent need to address wealth inequality through a wealth tax.
Written by the local model on 2026-09-04,
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Story summary
Economist Gabriel Zucman has argued that a wealth tax is necessary to ensure the super rich pay their fair share of taxes, citing examples such as Jeff Bezos and Elon Musk, who have reported no income and paid no income tax in some years. In an interview with Mehdi Hasan, Zucman explained that billionaires often hoard their wealth into holding companies to avoid paying taxes. A California ballot measure, Proposition 40, would implement a one-time 5% wealth tax on the state's billionaires**. Zucman also discussed how some countries' wealth taxes have failed in other countries, such as France. The interview with Zucman aims to debunk arguments against a wealth tax and highlight its urgency, citing the need to address wealth inequality and tax avoidance by the super rich.
Written for “Wealth Tax Proposal” on 2026-09-05,
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Will billionaires like Jeff Bezos and Elon Musk ever pay their fair share of taxes?
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billionaires → pay → taxes
Or are they just destined to find loophole after loophole, as they bury their massive wealth in illiquid stocks and shares?
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they → destine → stocks
In this ‘Mehdi Unfiltered’ interview, world-renowned expert on tax avoidance and wealth inequality, economist Gabriel Zucman, explains to Mehdi why a wealth tax may be the perfect response to billionaires’ shady tax tricks.
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tax → explain → tricks
“People like Elon Musk or Jeff Bezos in some years [were] reporting no income and paying no income tax,” says Zucman, who is also an economics professor at UC Berkeley and the Paris School of Economics.
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who → report → Economics
“That’s why if you want to ensure that the super rich pay their fair share, you have to go after wealth itself.”
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you → ’ → wealth
In the interview, Zucman debunks arguments against a wealth tax and explains why such a measure is so urgent right now, on both sides of the Atlantic.
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measure → debunk → Atlantic
He and Mehdi also discuss:
California’s impending vote on Proposition 40, which would implement a one-time 5% wealth tax on the state’s billionaires
How billionaires like Musk and Bezos benefit from hoarding their wealth into their holding companies
Why billionaire entrepreneur Mark Cuban and California Governor Gavin Newsom are wrong to argue that a wealth tax will drive away business
Whether the UK’s new Labour Prime Minister Andy Burnham should consider a wealth tax
Why some wealth taxes have failed in other countries, like France
Paid subscribers can watch the 24 minute-long interview in full above, without a paywall.
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subscribers → discuss → paywall
Free subscribers can watch a 2-minute preview.
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subscribers → watch → preview
Consider upgrading your subscription to unlock all Zeteo has to offer.
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Zeteo → consider → all
Check out Zucman’s newest book, We Need To Tax Billionaires.
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We → check → Billionaires
And if you’ve already read it, feel free to share your review of the book in the comments below!
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you → read → comments
