Opinion: wealth inequality has been rising in recent decades, but questions surround the effectiveness of a pure wealth tax to address this

The taxation of wealth is an emotional topic. Some people view it as a justified response to inequality, and a policy to increase equality of opportunity. Others feel it is double taxation, as income taxes have been paid on the savings accumulated to generate the wealth. The Commission on Taxation and Welfare recently published their main report and called for the overall yield from wealth and capital taxes to rise materially. Some political parties in Ireland support the introduction of a wealth tax. Continue reading…