2020

How Should Capital be Taxed?

Reprint No. 2020:68

Author(s): Spencer Bastani and Daniel WaldenströmYear: 2020 Title: Journal of Economic Surveys Volume (No.): 34 (4) Pages: 812–846
Online article (restrictions may apply)

How Should Capital be Taxed? Spencer Bastani and Daniel Waldenström


This survey discusses how capital should be taxed in advanced economies. We review the theoretical optimal tax literature, survey empirical studies on the distribution of capital and the distortionary costs of capital taxation, and analyze the desirability of specific taxes on capital income, wealth, property, inheritances, and corporate profits. Our overall conclusion is that capital taxation plays an important role in an optimal tax system, but only certain ways of taxing capital are able to strike a balance between optimality and administrative feasibility.


Reference:
Bastani, Spencer and Daniel Waldenström (2020), "How Should Capital be Taxed?". Journal of Economic Surveys 34(4), 812–846.

Daniel Waldenström

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Interdisciplinary European Studies

The European Union and the Return of the Nation State

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This book explores the complex and ever-changing relationship between the European Union and its member states. The recent surge in tension in this relationship has been prompted by the actions of some member state governments as they question fundamental EU values and principles and refuse to implement common decisions seemingly on the basis of narrowly defined national interests.

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