Europeans: Raphael Glucksmann wants to ‘tax’ the super-rich on a European scale

The stated goal is nothing less than “restoring a sense of justice in our society.” PS-Place’s public candidate for the European elections, Raphael Glucksmann, said this Friday that he wants to “tax the highest assets on the scale of the European continent” to finance, in particular, the ecological transition.

“We are in the process of collecting signatures across Europe, with our German friends, with our Italian friends,” the candidate leading the left in the polls explained on Franceinfo two months before the election. “The goal is not simply to restore the ISF in France,” the wealth tax abolished in 2018 by Emmanuel Macron, but “to have a tax on the scale of the European continent,” he said.

This tax would target the “richest 0.1%,” the only “multi-millionaires and billionaires” who “today (have) a “real tax rate that is actually close to 0.5%.” “It is necessary to ensure that (they) contribute to the environmental and financial transition,” he said, promising that “they will not go to Dubai” to avoid the measure, like his opponent in the presidential camp, candidate Valerie Heyer. “There are millionaires who support our initiative and are even co-signatories,” he even assured.

Up to 200 billion euros for the “European budget”

The measure, which will take the form of a “European CIC” (referendum on citizens’ initiatives), aims to “supplement the European Union’s own resources” so that the Twenty-Seven can form a “European budget” dedicated to investment “in the social sector.” projects,” in particular against “climate collapse,” said Raphael Glucksmann. According to him, this targeted tax could bring Europe 200 billion euros.

“We already need to get a million signatures so that the European Commission, in cooperation with the Parliament, can discuss the framework,” explained the MEP to Place Publique. Brussels, however, has limited jurisdiction over direct taxation of individuals unless it affects the internal market, such as tax evasion or taxation of savings. This issue also requires the unanimity of 27 members. Without this, discouraging MEP. “We will achieve this, together we will ensure that the European Union introduces this tax on the highest assets,” he said.

Superprofits “break all records”

Faced with France’s growing budget deficit, Raphael Glucksmann has also advocated taxing excess profits, an option that is controversial among most. “The French government has not only tried to soften all the initiatives of the European Commission on the excess profits tax,” he accused, assessing that Paris has so far been “rather a blocking factor” in this project.

“When we have super profits that break all records in the large CAC 40 groups, (…) it seems to me that the money that needs to be received is much more coming from this side, and not from the fight for the rights of the unemployed,” he also criticized. referring to the unemployment insurance reform mandated by the executive branch.

A windfall profit tax would also be part of the transition to a “war economy” since Russia invaded Ukraine more than two years ago, he argues. “Excess profits are profits that are not based on any gain in competitiveness, nor on any rational explanation other than the general geopolitical situation, so they are military profits,” explained the MEP. Before asserting that this taxation, like the taxation of the largest assets, falls “within the framework of the self-defense mechanism of our countries.”