Budget: How to tax the richest to replenish the coffers?

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To complete the 2026 budget, François Bayrou would like to find a way to tax the wealthiest. While some say they are willing to contribute under certain conditions, others are not keen on the idea.

This text is a portion of the transcript of the report above. Click on the video to watch it in full.

How and to what extent should the wealthiest be taxed to replenish the state coffers? On the Île de Ré, an opera singer married to an engineer considers herself rather well-off and would be willing to pay more. "We are among the privileged. Besides, we used to pay the wealth tax and we would be willing to pay it again, provided that it is in the service of a political project that suits me for more social justice," she explains. For a retired accountant, the answer is immediate: "Certainly not. I already pay a lot."

So, what lever can we use to find money? Trim or close tax loopholes. There are 474 of them. They cost the state €85 billion. Another option is the differential contribution on high incomes. It targets those who earn more than €250,000 alone, or €500,000 for a couple. The objective: a minimum tax rate of 20%. 65,000 households would be affected, which could bring in €2 billion.

Taxes that divide business leaders we met on Thursday afternoon, August 28, at the Medef university. Philippe Savajols, head of an office development agency, is in favor of a give-and-take approach: "Business leaders agree to contribute whatever they can, provided the state makes real structural savings."

Valérie Jimenez leads a group of 700 employees. She says no to taxes. "I earn money. But what made me earn money? I put it aside, I didn't spend it, and I even bailed out my company when things were going badly. I'm the first to say that I believe in my company, and I believe in the creation we've made. So no, I don't agree." To negotiate the budget, François Bayrou will meet with the political parties starting Monday.

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