The smartest way to make the rich pay is NOT a wealth tax

It’s important to ask the wealthy to pay more, as inequality is rising. However, a wealth tax has several drawbacks and complications. Other taxes like an inheritance tax are preferable. It’s shown for the case of the USA how going back to the inheritance tax regime of 1982 (before Reagan started to cut back this tax) could yield an astonishing 169 billion€ in additional tax income. Thus, it becomes clear, we are not speaking about radical revolutions into unforeseeable directions, we are simply speaking about going back to what we had earlier in history: a substantial inhertance tax that held inequality in check.

Author(s):  Editorial Board
Date: 21.7.2021
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