Abstract: Wealth taxes are portrayed as being fair, and a rather painless way to increase funding for strapped government programs. So then, why should we consider wealth taxes? To what extent are these taxes a matter of justice and to what extent are these taxes a matter of economics? Are wealth taxes harmful or helpful to an economy? Are wealth taxes fair obligations belonging to the entrepreneur or unjust claims made by society? To answer these questions we will proceed as follows: First, we will analyze the arguments given to justify wealth taxation.
Then, we will analyze the effects of wealth taxes (i.e. taxes on accumulated capital) contrasted with the effects of income taxes. After this we will explore the effects of wealth taxes upon the economy, such as wealth transfer taxes, property taxes, net wealth taxes, and capital gains taxes. We will then conclude in determining whether we should consider wealth taxation as a viable approach to revenue.