🏛️💶 Bustinduy proposes Zucman tax to fund universal child benefit

Oneliner

Social Rights Minister Pablo Bustinduy has proposed a 2% tax on assets exceeding €100 million, known as the Zucman tax, to fund a universal child benefit aimed at eradicating child poverty in Spain. The initiative could raise approximately €5.4 billion. While Bustinduy believes the proposal will gain broad support, he acknowledges potential opposition in Parliament due to his party's minority status. Economist Gabriel Zucman supports the initiative, emphasizing the need for fiscal justice. A meeting with Prime Minister Pedro Sánchez is scheduled for February 20 to discuss the proposal further.

Key points

• Pablo Bustinduy proposes a 2% tax on assets over €100 million to finance a universal child benefit.
• The initiative aims to eradicate child poverty in Spain and could raise approximately €5.4 billion.
• The proposal faces potential opposition in Parliament due to the minority status of Bustinduy's party.
• Economist Gabriel Zucman supports the initiative, emphasizing the need for fiscal justice.

Links

• Público: Bustinduy plantea una tasa del 2% a los ultrarricos para financiar la prestación universal por crianza
• elDiario: Bustinduy plantea implantar la tasa Zucman a los ultrarricos para pagar una prestación universal por crianza
• 20minutos: Bustinduy plantea una tasa del 2% a los "ultrarricos" para financiar una prestación universal por crianza

Facts

• The Zucman tax proposes a 2% levy on wealth exceeding €100 million.
• Estimated revenue from the tax is around €5.4 billion.
• The proposal aims to fund a universal child benefit to eradicate child poverty.
• Approximately 1,000 taxpayers in Spain would be affected by the tax.

Quotes

• It does not seem very sensible for someone who accumulates a fortune of hundreds of millions or billions to pay a proportionally lower rate than a salaried worker — Pablo Bustinduy
• The time has come for Spain to be a leader on this issue — Gabriel Zucman

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