Wealth Taxes are Unjust and Bad Economics
1 April 2024
SUGGESTED
Energy and Environment
In the Media
Harrison Griffiths writes for CapX
3 April 2024
Housing and Planning
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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