A wealth tax is generally conceived of as a levy based on the aggregate value of all household assets, including owner-occupied housing; cash, bank deposits, money funds, and savings in insurance and pension plans; investment in real estate and unincorporated businesses; and corporate stock, financial securities, and personal trusts. A wealth tax is a tax on the accumulated stock of purchasing power, in contrast to income taxes which is a tax on the flow of assets (a change in stock).
Read more about Wealth Tax: Details, Arguments in Favour, Arguments Against, Existing Net Wealth/worth Taxes, Property Tax, Global Tax
Famous quotes containing the words wealth and/or tax:
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What fiery force the earth renews,
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Joy shed in rosy waves abroad
Flows from the heart of Love, the Lord.”
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