Income tax

Income tax

Taxing the wealthy: The choice between wealth and capital income

Taxing the wealthy effectively and equitably presents a choice between wealth and capital income taxes, each with its own trade-offs. This column compares the effectiveness of the two forms of taxation. A wealth tax targets unrealised gains but faces valu

When it comes to income tax, the debate often centers around how to best tax the wealthy. Should it be through wealth taxes or capital income taxes? Both options have their advantages and disadvantages, and finding the right balance is crucial for a fair and effective tax system.