An Annual Wealth Tax: Pros and Cons

Robin Boadway and Pierre Pestieau

FinanzArchiv: Public Finance Analysis, 2021, vol. 77, issue 4, 408-429

Abstract: 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.

Keywords: wealth tax; capital income tax; inheritance tax (search for similar items in EconPapers)
JEL-codes: H21 H23 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Working Paper: An Annual Wealth Tax: Pros and Cons (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:mhr:finarc:urn:doi:10.1628/fa-2021-0019

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DOI: 10.1628/fa-2021-0019

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