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Wealth Tax
(redirected from wealth taxes)

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Wealth Tax
A tax levied on a person's or company's net assets, as opposed to income. For example, if a person has a net worth of $1 million, the government may assess a wealth tax on this amount over and above the tax on that person's income. Proponents believe this tax promotes equality while critics maintain it discourages accumulation of wealth, which is thought to drive economic growth.
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The author considers ideas for reducing the level of inequality within countries, such as progressive income and wealth taxes, measures to improve the conditions of vulnerable groups based on race, gender, disability, land reform, cooperatives, and education and health care for the poor.
Equality and Economy: The Global Challenge by Khanjian, Ara / Comparative Economic Studies
Among 22 countries, Canada ranked 21st in percentage of tax revenues derived from wealth taxes.
Not alone by Canada and the World Backgrounder
 
 
 
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