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Progressive Wealth Taxation
Report

Progressive Wealth Taxation


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Editorial Rating

8

Qualities

  • Controversial
  • Eye Opening
  • Hot Topic

Recommendation

In the run-up to the 2020 election, politicians are proposing sweeping reforms to the US tax code, including a new levy on the asset holdings of the richest people in the country. Advocates point to growing financial inequality as the impetus for a wealth tax. Professors Emmanuel Saez and Gabriel Zucman examine how a wealth tax might mitigate inequality and generate government revenue, why it hasn’t worked in the past, and what effect it could have on the US economy. No matter your political or economic bent, you’ll find their thoughtful assessment on this topical issue to be required reading.

Take-Aways

  • Some politicians argue that a wealth tax could help bridge the US inequality gap.
  • A wealth levy could make US taxes more progressive. 
  • Advocates of the wealth toll claim that it would benefit the macroeconomy.

About the Authors

Emmanuel Saez and Gabriel Zucman are professors at the University of California, Berkeley.