wealth tax
Net worth charge
A wealth tax is a tax on the total value of assets a person owns—property, investments, savings—rather than on income or transactions.
Unlike income tax, which targets earnings, a wealth tax applies to accumulated holdings: The proposal would impose a 2% annual wealth tax on fortunes over $50 million.
Proponents argue it reduces inequality; critics say it's difficult to administer and may drive capital elsewhere.
Person worth ten figures
- millionairePerson possessing great wealth
- net worthAssets less debts
- oligarchMember of small ruling class
- tycoonDominant industrial leader
magnate · plutocracy · fortune · assets · capital · superrich
Compulsory government charge
- progressiveFavoring reform and innovation
- assessmentFormal evaluation of worth
- valuationAssessment of monetary worth
- thresholdPoint of beginning
exemption · annual rate · revenue · collection · filing · audit · fiscal policy · mark-to-market
Formal argument on issues
- polarizingCausing sharp division
- contentiousInclined toward disagreement
- backlashStrong negative reaction
- oppositionActive resistance or dissent
lobbying · partisan · criticism · populism · loopholes · avoidance · evasion · capital flight
Measurable difference between things
- concentrationSustained single-minded attention
- stratificationDivision into distinct levels
- eliteSuperior select group
- privilegeExclusive right or benefit
socioeconomic · inequitable · hoarding · economic divide · class divide · poverty · disproportionate · systemic
Government-funded public services
- public servicesGovernment-provided community necessities
- economic mobilityMovement between income levels
- poverty alleviationReducing extreme economic need
- government revenueIncome of the state
public investment · social equity · public goods · education funding · healthcare funding · infrastructure · safety net
billionaire
Person worth ten figures
- millionairePerson possessing great wealth
- net worthAssets less debts
- oligarchMember of small ruling class
tycoon · magnate · plutocracy · fortune · assets · capital · superrich
levy
Compulsory government charge
- progressiveFavoring reform and innovation
- assessmentFormal evaluation of worth
- valuationAssessment of monetary worth
threshold · exemption · annual rate · revenue · collection · filing · audit · fiscal policy · mark-to-market
debate
Formal argument on issues
- polarizingCausing sharp division
- contentiousInclined toward disagreement
- backlashStrong negative reaction
opposition · lobbying · partisan · criticism · populism · loopholes · avoidance · evasion · capital flight · enforcement
disparity
Measurable difference between things
- concentrationSustained single-minded attention
- stratificationDivision into distinct levels
- eliteSuperior select group
privilege · socioeconomic · inequitable · hoarding · economic divide · class divide · poverty · disproportionate · systemic · intergenerational
social programs
Government-funded public services
- public servicesGovernment-provided community necessities
- economic mobilityMovement between income levels
- poverty alleviationReducing extreme economic need
government revenue · public investment · social equity · public goods · education funding · healthcare funding · infrastructure · safety net
- economic policymonetary policy, fiscal discipline, fiscal stimulus, fiscal restraint, tariff
- taxeswithholding, VAT, GST, customs duty, FICA
- inequalityincome gap, disparity, wage gap, income disparity, economic disparity
- taxationVAT, withholding, deductions, deduction, taxpayers
- Economic Fairnessequal pay, fair wages, fair pay, pay equity, wage gap
- government revenuecustoms duties, fees, tolls, fines, lottery revenue
wealth taxincome tax
Government charge on earnings
payroll tax · sales tax · consumption tax · value-added tax · capital gains tax
wealth taxtax cut
Legislated decrease in levy
tax break · flat tax · tax shelter · trickle-down economics · regressive tax
tax, wealth, wealthy, taxing, taxed, taxes, taxation, taxpayer, overtaxed