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Can the wealth tax be a remedy for public finance and reduce wealth inequalities in Poland?

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  • Marcin Wroñski

Abstract

Wealth tax proponents suggest that it should be introduced in order to reduce wealth inequalities and to gain additional tax revenues. In this paper, based on empirical data, I will attempt to prove that these objectives are hardly attainable through wealth tax. The impact of wealth tax on wealth inequalities would be rather low, as would any revenues resulting from its introduction. The tax would be paid by a relatively small number of taxpayers. Furthermore, the administrative requirements to collect it would be expensive and complicated. Therefore, since the benefit-cost ratio is unfavourable, the implementation of a wealth tax is an unfeasible solution. Instead, the objectives behind the wealth tax may be attained more effectively through a more progressive tax system and the imposition of an inheritance tax.

Suggested Citation

  • Marcin Wroñski, 2021. "Can the wealth tax be a remedy for public finance and reduce wealth inequalities in Poland?," IBS Policy Papers 03/2021, Instytut Badan Strukturalnych.
    • Handle: RePEc:ibt:ppaper:pp032021
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    File URL: https://ibs.org.pl/app/uploads/2021/06/Can-the-wealth-tax-be-a-remedy-for-public-finance-and-reduce-wealth-inequalities-in-Poland.pdf
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    References listed on IDEAS

    as
    1. Michał Brzeziński & Katarzyna Sałach & Marcin Wroński, 2020. "Wealth inequality in Central and Eastern Europe: Evidence from household survey and rich lists’ data combined," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 28(4), pages 637-660, October.
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    More about this item

    Keywords

    inequalities; public finance; wealth tax;
    All these keywords.

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