Camille Landais, Emmanuel Saez, Gabriel Zucman, 03 April 2020

European governments have reacted swiftly to the COVID crisis and are now discussing ways to mutualise the cost of the epidemic. This column proposes the creation of a progressive, time-limited, European-wide progressive wealth tax assessed on the net worth of the top 1% richest individuals. If fighting COVID-19 requires issuing 10 points of EU GDP in Eurobonds (or a rescue fund worth 10 points of EU GDP), a progressive wealth tax would be enough to repay all this extra debt after ten years.

Marius Brülhart, Jonathan Gruber, Matthias Krapf, Kurt Schmidheiny, 23 December 2019

Wealth taxes are in vogue, and academic research on the subject is picking up. Recent studies have produced widely diverging estimates of the elasticity of the wealth tax base. Some of this is due to methodological differences. This column analyses wealth taxes in Swiss cantons and shows that jurisdiction size and enforcement also play a role. When applied at the sub-national level and without third-party reporting, wealth taxes are particularly easily avoided.

Fabian Kindermann, Dirk Krueger, 15 November 2014

Optimal tax rates for the rich are a perennial source of controversy. This column argues that high marginal tax rates on the top 1% of earners can make society as a whole better off. Not knowing whether they would ever make it into the top 1%, but understanding it is very unlikely, households especially at younger ages would happily accept a life that is somewhat better most of the time and significantly worse in the rare event they rise to the top 1%.


CEPR Policy Research