The economics of taxing net wealth: a survey of the issues
This paper surveys possible motivations for having a net wealth tax. After giving a short overview over the state of wealth taxation in OECD countries, we discuss both popular arguments for such a tax, as well as economic arguments. It is argued that classical normative principles of taxation known...
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| Main Author: | |
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| Format: | Book/Monograph Working Paper |
| Language: | English |
| Published: |
Freiburg i. Br.
Inst. für Allg. Wirtschaftsforschung, Abt. für Wirtschaftspolitik
2012
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| Series: | Freiburger Diskussionspapiere zur Ordnungsökonomik
2012,5 |
| In: |
Freiburger Diskussionspapiere zur Ordnungsökonomik (2012,5)
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| Subjects: | |
| Online Access: | Verlag, Volltext: http://www.eucken.de/fileadmin/bilder/Dokumente/DP2012/Discussionspapier_12_05.pdf Download aus dem Internet, Stand: 14.12.2012, Volltext: http://hdl.handle.net/10419/67482 
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| Author Notes: | Jan Schnellenbach |
| Summary: | This paper surveys possible motivations for having a net wealth tax. After giving a short overview over the state of wealth taxation in OECD countries, we discuss both popular arguments for such a tax, as well as economic arguments. It is argued that classical normative principles of taxation known from public economics cannot give a sound justification for a net wealth tax. The efficiency-related effects are also discussed and shown to be theoretically ambiguous, while empirical evidence hints at a negative effect on GDP growth. Finally, it is argued that despite of widespread and persistent lobbying for a revitalization of the net wealth tax, this is unlikely to happen due to political economy constraints. -- Net wealth tax ; wealth ; inequality ; redistribution |
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| Physical Description: | Online Resource |
| Format: | Systemvoraussetzungen: Acrobat Reader. |