Do any G7 countries have a federal wealth tax on billionaires in 2025?

1. Why activists say a billionaire tax is needed — and what they claim it would raise

Advocacy groups and think tanks framed a federal wealth tax on the ultra-rich as a direct way to reduce inequality and finance public services, producing headline revenue estimates that have driven the debate in 2025. A June 2025 report from Patriotic Millionaires Canada presented scenarios in which a 2–3% levy on centi-millionaires or billionaires across the G7 could raise between roughly $138 billion and $411 billion annually, with a 3% tax on billionaires alone projected to raise about $230 billion — figures that were used to press G7 leaders for action ^{[4] [1]}. These publications are advocacy-oriented and foreground potential revenue gains rather than legal or political feasibility. The reports’ assumptions and base data come from aggregated wealth estimates and tax-model simulations; they do not point to any existing federal billionaire tax in G7 countries in 2025, instead arguing that such taxes are an unimplemented policy option ^{[1] [4]}.

2. The legal and political reality in G7 countries: repeal, absence, and exceptions

The policy landscape across the G7 in 2025 shows absence rather than presence of a federal billionaire wealth tax. Historical and technical analyses note that several European countries experimented with net wealth taxes in past decades but many repealed them or narrowed bases due to valuation, avoidance, and capital flight concerns; Germany’s wealth tax ended in 1997 and other countries restructured similar levies ^{[5] [3]}. Contemporary surveys of tax regimes indicate that among countries commonly discussed for wealth taxes, Spain, Norway and Switzerland had versions of net wealth taxation in 2025, but these are not G7-wide models and their structures, thresholds and rates differ sharply from the sort of federal billionaire-only tax proposed by advocates ^[2]. The available analyses conclude that no G7 member operated a dedicated federal wealth tax on billionaires in 2025, and instead rely on income, property and estate taxes to capture high-net-worth individuals ^{[2] [3]}.

3. Administrative hurdles and the lessons governments cite for avoiding wealth taxes

Policy analysts emphasize technical barriers that explain why wealth taxes remain rare at the federal level in wealthy democracies: asset valuation difficulties, avoidance and flight, high compliance and enforcement costs, and political resistance. Studies and expert commentary in 2025 reiterated that many countries that tried wealth taxes scaled them back or repealed them when confronted with administration complexity and unintended effects on investment and residency choices ^{[3] [5]}. Economists raising these cautions pointed to practical implementation risks rather than ideological opposition alone; they argue that improving information exchange and designing targeted national measures can mitigate some risks but not eliminate them, which helps explain the absence of a G7 federal billionaire tax in practice ^{[5] [3]}. These operational concerns are central to why debates center on proposals and simulations rather than immediate enactment.

4. Contrasting views: advocates’ urgency vs. governments’ caution

Two clear narratives appeared in 2025 coverage: advocates framed a federal billionaire wealth tax as an urgent, high-yield tool to rebalance public finances, while many policymakers and technocrats underscored feasibility limits and systemic trade-offs. Advocacy groups like Patriotic Millionaires Canada pushed ambitious revenue estimates and moral arguments for taxing extreme wealth, using cross-country simulations and G7 comparisons to build momentum ^{[1] [6]}. Policymakers and tax experts countered with evidence from prior wealth-tax experiments, highlighting valuation and avoidance issues and the preference in many countries for targeted reforms—higher income or capital gains rates, better enforcement, or wealth-reporting improvements—over a sweeping federal billionaire wealth tax ^{[3] [2]}. Both perspectives use empirical claims; the divergence comes down to priorities and risk tolerance in fiscal design.

5. The bottom line and open questions for future coverage

The concrete fact is clear: no G7 nation had a federal wealth tax aimed specifically at billionaires in 2025, according to the contemporary reports and policy reviews summarized here ^{[1] [2] [3]}. The conversation in 2025 focused on proposals, revenue modeling, and the political feasibility of adopting such taxes, with advocates offering revenue estimates and policymakers flagging administrative limits and lessons from past repeals ^{[4] [3] [5]}. Future shifts could come from coordinated international rules, improved asset transparency, or dramatic political change in individual G7 governments; those developments would require fresh verification beyond the 2025 documents cited here.