The Distributive Effects of Wealth Taxes

James Davies

Canadian Public Policy, 1991, vol. 17, issue 3, 279-308

Abstract: The likely distributive effects of imposing annual net worth taxes or capital transfer taxes in Canada are analyzed. The conceptual basis of such an exercise is discussed. Calculations of possible short-run impacts of an annual wealth tax on income and wealth distribution are then performed. These show a moderate equalizing effect in the upper tail for income, but a small initial effect for wealth distribution. Careful design is required to avoid a regressive effect in the lower tail. A shift in tax burdens towards the old is found under all variants of wealth tax studied. The paper concludes by discussing long-run effects, not captured in the calculations.

Date: 1991
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