An Annual Wealth Tax: Pros and Cons

[en] We explore the case for a wealth tax as part of the tax mix. Annual wealth taxes are roughly equivalent to capital income taxes on the assets to which they apply. Wealth taxes differ in purpose from inheritance taxes which are useful adjuncts to income taxes. We recount the arguments for taxing capital income, and for taxing inheritances regardless of whether capital income is taxed. We argue that if the desire to tax asset income and wealth transfers is appropriately addressed by capital income and inheritance taxation, the additional need for an annual wealth tax is minimal.

Disciplines :

Economic systems & public economics

Author, co-author :

Pestieau, Pierre ; Université de Liège - ULiège > HEC Liège > HEC Liège

Boadway, Robin

Language :

English

Title :

An Annual Wealth Tax: Pros and Cons

Publication date :

2021

Journal title :

Finanz-Archiv

ISSN :

0015-2218

eISSN :

1614-0974

Publisher :

Mohr Siebeck, Tuebingen, Germany

Peer reviewed :

Peer Reviewed verified by ORBi

Available on ORBi :

since 13 December 2021

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