Abstract
Abstract Modern tax systems do not satisfactorily tax the wealthiest individuals. Meanwhile, government revenue needs have increased in the wake of the Covid pandemic. This paper discusses ideas for new revenue sources focused on the top of the distribution: A progressive tax on net wealth with a high exemption threshold; a wealth tax on corporations' stock, and a one-off tax on top-end unrealized capital gains. Given the size and concentration of wealth, the revenue potential of these policies is significant.
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