On October 7th, I interviewed economist Gabriel Zucman, one of the world’s leading voices on taxing the rich. He has spent his career exposing how the very wealthy avoid paying their fair share, and making the case for why that has to change. Gabriel teaches at UC Berkeley and the Paris School of Economics, and is the author of several books, including The Hidden Wealth of Nations and, most recently, We Need to Tax Billionaires. In France, his proposal for a minimum tax on the ultra-rich became so central to the national debate that people simply call it the Zucman tax. He’s also quite popular on social media these days. -------------------- When it comes to reversing wealth inequality or fixing our broken democracy, philanthropy is a sideshow, not the main event. It can be meaningful, and it provides vital funding to many organizations and communities. But it’s also a glossy distraction that celebrates the generosity of the rich while everyone else competes for their loose change. So what’s the main event? Taxes. Last year, charitable and political giving in the United States totaled $637 billion. Federal taxes, by comparison, moved $5.2 trillion from private to public hands. Taxes are the largest and most democratic tool we have to redistribute wealth and power. If we think voluntary giving alone can address wealth inequality, or that we can win the battle between democracy and oligarchy without changing the tax code, we’re kidding ourselves. Now the fight over taxing extreme wealth has come to my home state of California. On November 3rd, voters will decide on Proposition 40, the Billionaire Tax Act: a one-time 5% tax on the wealth of California residents worth more than $1 billion, with the money going to health care. But billionaires aren’t leaving it to chance. They’re bankrolling Propositions 41 and 42, decoys designed to cancel out Prop 40: if either gets more votes, the billionaire tax dies even if it passes. In my conversation with Gabriel, we talk about why taxing extreme wealth matters for democracy, what the opposition is doing to stop it, and what it will take to win, both this November and in the long run. ----------------- Listen and subscribe on Apple Podcasts, Spotify or wherever you get your podcasts. If you like what you hear, please rate and review it on Apple podcasts, and share it with others. We’re relying on our community, like you, to help us spread the word. To learn more about Organize the Rich, visit www.organizetherich.com where you can find additional episodes, subscribe to the podcast, substack, instagram and youtube channel, buy our publications and more. Organize The Rich is a project of Solidaire Network. This podcast is produced in partnership with Rowhome Productions. Rowhome’s Creative Director is Alex Lewis. Their Executive Producer is John Myers. Organize the Rich Radio is produced in partnership with Rowhome Productions. Leave a message on the Organize the Rich hotline
