Wealth Taxes are Unjust and Bad Economics
1 April 2024
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Energy and Environment
In the Media
Harrison Griffiths writes for CapX
3 April 2024
Lifestyle Economics
15 November 2024
Matthew Lesh quoted in City AM
IEA Director of Public Policy and Communications Matthew Lesh has been quoted in City AM warning against call for a wealth tax.
Matthew said:
“There will be huge administrative difficulties in how you design a tax like that. How much is art worth? How much are vintage cars worth? How much is jewellery worth? You also don’t really know how much a property is worth until you try selling it.
“Increasing wealth taxes could well foster a sense of unfairness, because it would form a part of double taxation. People are already taxed on the income as they receive it. A wealth tax would mean taxing that money again and again. It’s an attack on people’s ability to save and accumulate.”
Read the full article here.
Matthew said:
“There will be huge administrative difficulties in how you design a tax like that. How much is art worth? How much are vintage cars worth? How much is jewellery worth? You also don’t really know how much a property is worth until you try selling it.
“Increasing wealth taxes could well foster a sense of unfairness, because it would form a part of double taxation. People are already taxed on the income as they receive it. A wealth tax would mean taxing that money again and again. It’s an attack on people’s ability to save and accumulate.”
Read the full article here.
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