Capital Wealth Taxation: Theory and Application

摘要: AbstractUsing an ls model analysis, the economic effects of implementing a modest taxation rate on capital wealth (3%) are found to be basically favorable: slightly higher output, lower inequality as measured by various Gini coefficients, and social welfare according three major functions—Bentham, Nash Rawls. Implementing enables compensating reduction in labor-income rate. The single most important consequence this change is increased labor output among wealthiest households, whose productivity highest. Even though reduced less-wealthy overall effect aggregate positive.