Research Report When Is It Best to Tax the Wealthy? (Part 2 of 2)
C. Eugene Steuerle
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The fight over taxing those with capital -- in particular, those with significant amounts of wealth -- has raged almost as long as civilization has existed. While the debate is not going away, it can proceed more rationally and intelligently. This column and the preceding one examine five distinctions already made by the tax code that must be explored in some depth whenever tax reform is being considered: (1) new capital versus old capital; (2) newer versus older business establishments; (3) small businesses versus large businesses; (4) winners in the capital market versus losers; and (5) entrepreneurs versus inheritors.