Third part of the 2020 virtual #UBSCenterForum on inequality: @Florian_Scheuer gives a webinar on the taxation of the superrich 🧵
#EconomicsForSociety #EconTwitter @econ_uzh
#EconomicsForSociety #EconTwitter @econ_uzh
https://twitter.com/ubscenter/status/1323638810744360960
How to define the superrich? Wealth is a better indicator than income because it is less volatile.
#EconomicsForSociety #UBSCenterForum
#EconomicsForSociety #UBSCenterForum
The superrich derive most of their income from capital gains. Hence, capital gain taxation plays an important role for the taxation of the very top. Capital income is still taxed LESS than labor income in most countries, sometimes even with a regressive scheme.
#UBSCenterForum
#UBSCenterForum
A wealth tax targets only normal returns, a capital gains tax also captures excess returns (e.g., due to market power). According to @Florian_Scheuer, fixing capital gains taxation is key (as @JoeBiden is planning to do).
#UBSCenterForum
#UBSCenterForum
For more details, have a look at Florian's public paper
👉ubscenter.uzh.ch/de/publikation…
#EconomicsForSociety
👉ubscenter.uzh.ch/de/publikation…
#EconomicsForSociety
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