Overview
- The Zucman blueprint would levy 2% annually on household net wealth above €100 million, capturing professional assets such as private-company shares.
- Le Monde criticizes an overheated debate and notes that founders with illiquid stakes, exemplified by Mistral AI, could face sizable bills despite limited cash flow.
- Economist Gabriel Zucman proposes letting cash‑poor taxpayers sell shares to the state or employees to pay, a fix that raises dilution, control and property-rights concerns.
- The share-transfer option may not reduce the public deficit if holdings sit in a sovereign wealth vehicle or are allocated to employees, the column warns.
- Politically, the Socialist Party is conditioning support for the 2026 budget on a Zucman-style levy as business leaders such as Bernard Arnault denounce the plan, polls show broad public support, revenue estimates diverge sharply, and legal hurdles remain under discussion.