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Economist hits back at tycoon
Bangkok Post
|September 23, 2025
An economist behind a wealth tax plan embraced by the French left on Sunday urged France's richest person, Bernard Arnault, to show “respect for the truth” after the luxury goods tycoon described him as a “pseudo-academic” who wanted to “destroy the French economy’
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Zucman: Warns of 'rise of Trumpism'
With France under pressure to erode its growing debt pile and budget deficit, French economist Gabriel Zucman, 38, has suggested the ultra-rich pay at least a 2% tax on their fortune.
The idea has been enthusiastically taken up by the French left, including the Socialist Party, whose support new Prime Minister Sebastien Lecornu could need to ensure the survival of his government.
But it has been denounced by the right, who fear that such a scheme would drive the wealthy to flee France.
“This is clearly nota technical or economic debate, but rather a clearly stated desire to destroy the French economy,” said Mr Arnault in a statement to the Sunday Times.
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