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