Bloomberg Talks Thomas Piketty Talks Wealth Taxes
Sep 23, 2025
Thomas Piketty, a French economist celebrated for his insights into wealth and inequality, discusses the pressing issue of a proposed 2% wealth tax in France. He argues that while this tax is a necessary step, it's just the beginning in addressing deeper fiscal crises. Piketty emphasizes the need for compressing inequality to fund essential services like education and health. He critiques assumptions about tax evasion, advocates for robust enforcement, and suggests that a fairer tax system can enhance economic growth and support the middle class.
AI Snips
Chapters
Books
Transcript
Episode notes
Long-Run Progress And Future Needs
- Thomas Piketty stresses long-term historical progress toward equality despite recent rises in inequality.
- He argues continued compression of inequality is needed to finance large public investments like energy and education.
Treat 2% Wealth Tax As Minimum
- Piketty calls a 2% wealth tax in France the absolute minimum to address fiscal challenges.
- He warns it is useful but insufficient given public debt and investment needs.
Politics Forces A Clear Choice
- Political choice in France is between siding with the right (nationalist) or adopting redistributive policies.
- Pure pro-business policies no longer secure majorities, so governments must choose strategy.
