States Should Consider Partial Wealth Tax Reforms

Gamage, David; Shanske, Darien

Download This Paper

Open PDF in Browser

Add Paper to My Library

States Should Consider Partial Wealth Tax Reforms

Tax Notes State, May 18, 2020, p. 859

4 Pages Posted: 1 Jul 2020

See all articles by David Gamage

Darien Shanske

University of California, Davis - School of Law

Date Written: MAy 18, 2020

Abstract

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

Gamage, David and Shanske, Darien, States Should Consider Partial Wealth Tax Reforms (MAy 18, 2020). Tax Notes State, May 18, 2020, p. 859, Available at SSRN: https://ssrn.com/abstract=3633474