Wealth tax
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A wealth tax (also called a capital tax, equity tax, or net worth tax) is a levy on the total value of personal 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. Typically liabilities (primarily mortgages and other loans) are deducted, hence it is sometimes called a net wealth tax.
A wealth tax taxes the accumulated stock of purchasing power, in contrast to income tax, which is a tax on the flow of assets (a change in stock).
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See also
- Ad valorem tax
- Capital in the Twenty-First Century
- Economic inequality#Environment; addressing human overpopulation having similar effects to decrease wealth gap
- Endowment tax
- Inheritance tax
- Land value tax
- Progressive tax
- Property tax
- Redistribution of income and wealth
- Sumptuary law
- Tax exporting
- Wealth concentration
- World taxation system
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