Climate Change and Rising Income Inequality: Is Ultra-Progressive Tax a Solution?
6 Pages Posted: 10 Jul 2020
Date Written: June 1, 2020
The climate crisis and rise in income inequality have created support for progressive taxes with a top marginal tax rate above 50%. Three strands of literature are discussed to show this trend: (1) climate change, (2) income inequality, and (3) taxing the wealthy. Thoughtful flaws are noted in the current paper, especially by giving special attention to growing call for a tax on the wealthy to pay for the fight against climate change and reduce income inequality.
Keywords: ultra-progressive tax, climate change, income inequality
JEL Classification: H20, Q54, D3, D6
Suggested Citation: Suggested Citation