Top incomes and tax policy

Emmanuel Saez and Gabriel Zucman
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Emmanuel Saez: UC Berkeley - University of California [Berkeley] - UC - University of California
Gabriel Zucman: UC Berkeley - University of California [Berkeley] - UC - University of California

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Abstract: Modern tax systems do not satisfactorily tax the wealthiest individuals. Meanwhile, government revenue needs have increased in the wake of the COVID-19 pandemic. This paper discusses ideas for new revenue sources focused on the top of the distribution: A progressive tax on net wealth with a high exemption threshold, a wealth tax on corporations' stock and a one-off tax on top-end unrealized capital gains. Given the size and concentration of wealth, the revenue potential of these policies is significant.

Date: 2024-07
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Published in Oxford Open Economics, 2024, 3 (Supplement_1), pp.i1130-i1132. ⟨10.1093/ooec/odad053⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04928974

DOI: 10.1093/ooec/odad053

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