A wealth tax is generally conceived of as a levy based on the aggregate value of all household assets, including owner-occupied housing; cash, bank deposits, money funds, and savings in insurance and pension plans; investment in real estate and unincorporated businesses; and corporate stock, financial securities, and personal trusts. A wealth tax is a tax on the accumulated stock of purchasing power, in contrast to income taxes which is a tax on the flow of assets (a change in stock).
Read more about Wealth Tax: Details, Arguments in Favour, Arguments Against, Existing Net Wealth/worth Taxes, Property Tax, Global Tax
Famous quotes containing the words wealth and/or tax:
“...I really hope no white person ever has cause to write about me
because they never understand Black love is Black wealth and they’ll
probably talk about my hard childhood and never understand that
all the while I was quite happy.”
—Nikki Giovanni (b. 1943)
“In 1845 he built himself a small framed house on the shores of Walden Pond, and lived there two years alone, a life of labor and study. This action was quite native and fit for him. No one who knew him would tax him with affectation. He was more unlike his neighbors in his thought than in his action. As soon as he had exhausted himself that advantages of his solitude, he abandoned it.”
—Ralph Waldo Emerson (1803–1882)