Wolff, Edward N. (1996). "Time for a Wealth Tax?". Boston Review (Feb–Mar 1996). Archived from the original on 12 May 2008. (recommending a net wealth tax for the US of 0.05% for the first $100,000 in assets to 0.3% for assets over $1,000,000)
See for example 26 U.S.C.§ 7203 in the case of U.S. Federal taxes.
"26 USC 877". Law.cornell.edu. Retrieved 22 January 2013.
dictionaryofeconomics.com
Fullerton, Don (2008). Laffer curve. The New Palgrave Dictionary of Economics, Second Edition. Palgrave Macmillan. Retrieved 5 July 2011. The mid-range for this elasticity is around 0.4, with a revenue peak around 70 percent.
"title 26 US Code". US House of Reperesentitives. Retrieved 21 January 2013.
imf.org
See for example Reinhart, Carmen M. and Rogoff, Kenneth S., This Time is Different. Princeton and Oxford: Princeton University Press, 2008 (p. 143), The Liquidation of Government Debt, Reinhart, Carmen M. & Sbrancia, M. Belen, p. 19, Giovannini, Alberto; de Melo, Martha (1993). "Government Revenue from Financial Repression". The American Economic Review. 83 (4): 953–963.
Some economists[who?] hold that the inflation tax affects the lower and middle classes more than the rich, as they hold a larger fraction of their income in cash, they are much less likely to receive the newly created monies before the market has adjusted with inflated prices, and more often have fixed incomes, wages or pensions. Some argue that inflation is a regressiveconsumption tax. Also see Andrés Erosa and Gustavo Ventura, "On inflation as a regressive consumption taxArchived 10 September 2008 at the Wayback Machine". Some[who?] claim there are systemic effects of an expansionary monetary policy, which are also definitively taxing, imposing a financial charge on some as a result of the policy. Because the effects of monetary expansion or counterfeiting are never uniform over an entire economy, the policy influences capital transfers in the market, creating economic bubbles where the new monies are first introduced. Economic bubbles increase market instability and therefore increase investment risk, creating the conditions common to a recession. This particular tax can be understood to be levied on future generations that would have benefited from economic growth, and it has a 100% transfer cost (so long as people are not acting against their interests, increased uncertainty benefits, no-one). One example of a strong supporter of this tax was the former Federal Reserve chair Beardsley Ruml.
Wolff, Edward N. (1996). "Time for a Wealth Tax?". Boston Review (Feb–Mar 1996). Archived from the original on 12 May 2008. (recommending a net wealth tax for the US of 0.05% for the first $100,000 in assets to 0.3% for assets over $1,000,000)
Some economists[who?] hold that the inflation tax affects the lower and middle classes more than the rich, as they hold a larger fraction of their income in cash, they are much less likely to receive the newly created monies before the market has adjusted with inflated prices, and more often have fixed incomes, wages or pensions. Some argue that inflation is a regressiveconsumption tax. Also see Andrés Erosa and Gustavo Ventura, "On inflation as a regressive consumption taxArchived 10 September 2008 at the Wayback Machine". Some[who?] claim there are systemic effects of an expansionary monetary policy, which are also definitively taxing, imposing a financial charge on some as a result of the policy. Because the effects of monetary expansion or counterfeiting are never uniform over an entire economy, the policy influences capital transfers in the market, creating economic bubbles where the new monies are first introduced. Economic bubbles increase market instability and therefore increase investment risk, creating the conditions common to a recession. This particular tax can be understood to be levied on future generations that would have benefited from economic growth, and it has a 100% transfer cost (so long as people are not acting against their interests, increased uncertainty benefits, no-one). One example of a strong supporter of this tax was the former Federal Reserve chair Beardsley Ruml.
