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A One-off Wealth Tax?

Author

Listed:
  • Thiess Büttner
  • Johanna Hey
  • Kai A. Konrad
  • Andreas Peichl
  • Nadine Riedel
  • Marcel Thum
  • Alfons Weichenrieder

Abstract

In many countries, the response to the covid pandemic has torn huge holes in public budgets. German politicians are therefore discussing a one-off wealth tax to reduce the debt ratio. The Scientific Advisory Board at the German Federal Ministry of Finance (2021) has rejected a one-off wealth tax to finance the burdens of the corona crisis. It would cause considerable economic damage by shaking the confidence of savers and investors. It would also involve major tax collection problems, lacks the necessary exceptional character under constitutional law and is not a targeted instrument for balancing winners and losers of the Corona crisis.

Suggested Citation

  • Thiess Büttner & Johanna Hey & Kai A. Konrad & Andreas Peichl & Nadine Riedel & Marcel Thum & Alfons Weichenrieder, 2021. "A One-off Wealth Tax?," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 28(06), pages 26-27, December.
    • Handle: RePEc:ces:ifodre:v:28:y:2021:i:06:p:26-27
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