Star economist: Swedish billionaires have unreasonable privileges

World-renowned economist Gabriel Zucman says Sweden's billionaires enjoy unreasonable privileges and pay far lower taxes than the upper middle class. In an interview with DN in Paris, he calls for a new wealth tax.

In Paris, world-renowned economist Gabriel Zucman spoke to Dagens Nyheter about the tax situation of Swedish billionaires. Zucman states that Sweden's billionaires have unreasonable privileges. “Billionaires pay only one third as much in taxes and fees as the upper middle class,” Zucman tells DN. He advocates for the introduction of a new wealth tax to address this. The interview was published on March 22, 2026.

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Nooshi Dadgostar of Sweden's Left Party announces billionaire tax proposal at Uppsala speech, illustrated with wealth inequality visuals.
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Left Party proposes billionaire tax

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Left Party leader Nooshi Dadgostar presented a proposal for a new tax on Sweden's super-rich during a speech in Uppsala on Thursday evening. The party identifies billionaires as main opponents ahead of the 2026 election and wants an investigation to shape the tax. The proposal aims to make the wealthiest contribute more to welfare.

On the sidelines of the Davos summit, American millionaires call for higher taxes, but their French counterparts remain silent despite revealing private discussions. Cécile Duflot from Oxfam France polled eight to nine French billionaires on the Zucman tax, and several self-made ones do not oppose it, though none voice it publicly.

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Amid debate over a corporate wealth tax in Colombia, analysis shows only three OECD countries impose a general net personal wealth tax. Other European nations tax specific assets, while in the region, Argentina and Uruguay have similar levies. Experts warn such taxes are falling out of use and could harm competitiveness.

The Left Party has uncovered a legal tax loophole that exacerbates wealth inequality between East and West Germany. In the eastern states, there has been no inheritance or gift of business assets exceeding 26 million euros in the past five years. All 105 applications for tax relief since 2021 originate from the old West German territory.

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Social Democrats' economic-political spokesperson Mikael Damberg accuses the Moderate Party of squandering its responsible legacy from Anders Borg and Fredrik Reinfeldt. He highlights large budget deficits, rising unemployment, and criticism from experts like the Fiscal Policy Council. Damberg warns that current policies burden future generations.

The SPD aims to reform inheritance tax to burden large fortunes more heavily while relieving smaller ones. The concept proposes a lifetime exemption of one million euros and raises the allowance for family businesses to five million euros. Business associations and the CDU criticize the plans as a burden on the middle class.

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A debate is raging within Germany's Union party over a possible increase in the top tax rate as part of tax reform. While some representatives do not rule out a higher rate for top earners, others are clearly distancing themselves. The business community is annoyed by the discussions.

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