President Donald Trump meets with French President Emmanuel Macron in the Oval Office of the White House on Feb. 24, 2025. Jim Watson/AFP
France’s tax on top earners, introduced in 2025, is projected to raise far less than initially forecast, underscoring how difficult it can be for governments to extract more revenue from the wealthy once taxpayers have time to adjust.
Implementation timing, tax-base definition, legal constraints, and taxpayer behavior play a decisive role in whether such policies deliver on their revenue promises.
