wealth taxes
Assessments on fortunes
Wealth taxes are taxes levied on the total value of assets a person owns—property, investments, savings, and other holdings—rather than on income or transactions.
Unlike income tax, which targets what you earn, or sales tax, which targets what you spend, wealth taxes target what you have: The proposal included a 2% annual wealth tax on fortunes over $50 million.
Sometimes called net worth taxes, they typically apply only to wealth above a threshold and remain controversial—proponents see them as addressing inequality, critics argue they're difficult to administer and may drive capital flight.
- net worthAssets less debts
- estate taxLevy on inherited wealth
- billionairesPeople with vast fortunes
- assetsOwned items of value
- property taxLevy on owned land
capital gains tax · inheritance tax · elites · magnates · revenues · oligarchies · tax bracket · luxury tax · fiscal policy · tax exemptions · tax deductions · tax credits · plutocracy · ultra-rich · tax the rich · fair share · economics · millionaires
wealth taxesincome taxes
Government's share of earnings
payroll taxes · poll taxes · head taxes · sales taxes · consumption taxes
wealth taxestax havens
Low-levy jurisdictions for assets
tax shelters · asset protection · offshore accounts · tax avoidance · tax evasion
wealth taxesflat taxes
Single-rate income levy
tax havens · asset protection · laissez-faire economics · trickle-down economics
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