A wealth tax on the rich to bring down public debt?
Bach, Stefan ;  Beznoska, Martin ;  Steiner, Viktor ;  ;  Universität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft

Main titleA wealth tax on the rich to bring down public debt?
SubtitleRevenue and distributional effects of a capital levy
AuthorBach, Stefan
AuthorBeznoska, Martin
AuthorSteiner, Viktor
EditorUniversität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft
No. of Pages22 S.
Series ; 2011,10 : Economics
KeywordsCapital levy; wealth distribution; microsimulation
Classification (DDC)336 Public finance
AbstractThe idea of higher wealth taxes to finance the mounting public debt in the wake of
the financial crises is gaining ground in several OECD countries. We evaluate the revenue
and distributional effects of a one-time capital levy on personal net wealth that is currently on
the German political agenda. We use survey data from the German Socio-Economic Panel
(SOEP) and estimate the net wealth distribution at the very top, based on publicly available
information about very rich Germans. Since net wealth is strongly concentrated, the capital
levy could raise substantial revenue, even if relatively high personal allowances are granted.
We also analyze the compliance and administrative costs of the capital levy.
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FU DepartmentDepartment Business and Economics
Other affiliation(s)Wirtschaftspolitik und Wirtschaftsgeschichte
Year of publication2011
Type of documentBook
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Created at2011-07-28 : 02:26:04
Last changed2016-01-05 : 02:38:24
Static URLhttp://edocs.fu-berlin.de/docs/receive/FUDOCS_document_000000011186