Statista: Ocasio-Cortez's Tax Plan Isn't Unprecedented | Statista

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Chart: Ocasio-Cortez's Tax Plan Isn't Unprecedented | Statista

NBER Working Paper: Do Americans Want to Tax Capital? Evidence from Online Surveys

"Do Americans Want to Tax Capital? Evidence from Online Surveys," by Raymond Fisman, Keith Gladstone, Ilyana Kuziemko and Suresh Naidu 

Abstract:

A vast theoretical literature in public finance has studied the question of the desirability of capital taxation.  Distinct from questions of the optimality of taxing wealth is whether it is politically feasible.  We provide, to our knowledge, the firstinvestigation of individuals' preferences over jointly taxing income and wealth, via a survey on Amazon's Mechanical Turk.  We provide subjects with a set of hypothetical individuals' incomes and wealth and elicit subjects' preferred (absolute) tax bill for these individuals.  Our method allows us to unobtrusively map both income earned and accumulated wealth into desired tax levels.  Our regression results yield roughly linear desired tax rates on income of about 14 percent.  Respondents' suggested tax rates indicate positive desired wealth taxation.  When we distinguish between sources of wealth we find that, in line with recent theoretical arguments, subjects' implied tax rate on wealth is three percent when the source of wealth is inheritance, far higher than the 0.8 percent rate when wealth is from savings.  We show these tax rates are consistent with reasonable parameterizations of recent theoretical optimal wealth tax formulae.

Recent paper on public finance: Examining capital taxation

A new paper from France:

This article addresses the issue of capital taxation relying on three levels of analysis. The first level deals with the multiple ways to tax capital (income or value, proportional or progressive taxation, and the temporality of the taxation) and presents some of France's particular features within a heterogeneous European context. The second area of investigation focuses on the main dynamic properties generated by capital taxation: the principle of equivalence with a tax on consumption; the issue of double taxation if it targets taxation of nominal income; neutrality of the uniform tax on the capital value; lastly, the risk of confiscatory taxation if there is a disjunction between taxation of the value and the income. The final level of analysis consists in assessing the debate on the optimal level of capital taxation drawing on the lessons in the literature. These discussions are organized into eight themes: (1) double taxation, (2) optimal growth, (3) property, (4) tax competition, (5) supervisory arguments, (6) measuring capital gains, (7) complexity and (8) fiscal stability.

The authors are Céline Antonin and Vincent Touzé.