Should the UK have a wealth tax? Almost certainly

I’m strolling with a friend when we start a conversation on a wealth tax. Both of us are left wing and agree that it must be a good idea to have a wealth tax. My friend says that lots of other countries have them and that there is no reason not to have one. Despite my gut feeling that a wealth tax must be a good thing when the country has severe financial difficulties and enormous disparities in wealth, I feel that I need to know more about the pluses and minuses of a wealth tax. Remembering my time at the Stanford Business School, I worry that although a wealth tax seems attractive there might be unintended consequences.Back home searching for information, I discover the 2020 report of the Wealth Tax Commission, which comes from the London School of Economics and the Warwick Business School.1 The Commission consulted a wide…
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