Guvenen, Fatih; Kambourov, Gueorgui; Kuruşçu, Burhanettin - 2022 - This draft: December, 2022
implications for both efficiency and inequality. Under capital income taxation, entrepreneurs who are more productive and therefore …How does wealth taxation differ from capital income taxation? When the return on investment is equal across individuals … generate more income pay higher taxes. Under wealth taxation, entrepreneurs who have similar wealth levels pay similar taxes …