At the Assemblée nationale debate on taxing the super-rich, ICRICT Co-chair Jayati Ghosh highlighted the stark realities of global inequality.

Even in India, where political consensus on taxation is rare, all major opposition parties now support a wealth tax on individuals holding more than $100 million. That would affect fewer than 1,000 families, yet even a modest levy on this group could raise revenue equivalent to 1% of GDP — enough to double public health spending.

Her message was clear: extreme wealth is concentrated in very few hands, while societies worldwide struggle to finance essential services.