Tax and Fiscal Policy

Punitive taxes on the rich are “counter-productive”

Annabel Denham writes for Reaction

Writing for Reaction, IEA Director of Communications Annabel Denham points out that the vast majority of nations that have introduced a wealth tax have later abolished it. The suggestion from the Wealth Tax Commission that many of the challenges encountered in previous failed would be mitigated not only by extending the tax to include common exemptions (the family home, the pension pot) but by  implementing a “one-off” tax rather than an annual levy is wholly misguided.

Wealth taxes, Annabel argues, are counter-productive, immoral and doomed to failure. Read her piece in full here.