States Should Consider Partial Wealth Tax Reforms
Tax Notes State, May 18, 2020, p. 859
4 Pages Posted: 1 Jul 2020
Date Written: MAy 18, 2020
This essay argues that, if the federal government fails to act sufficiently regarding the COVID-19 budget crisis, states should consider either real property surtaxes on their wealthiest residents or partial deemed realization of the unrealized capital gains of the very wealthy.
Keywords: state and local tax, fiscal federalism, wealth tax, property tax, partial deemed realization, unrealized capital gains
JEL Classification: K34
Suggested Citation: Suggested Citation