Guvenen, Fatih; Kambourov, Gueorgui; Kuruşçu, Burhanettin - National Bureau of Economic Research - 2024
When is a wealth tax preferable to a capital income tax? When is the opposite true? More generally, can capital … misallocation of capital. We show that increasing the wealth tax increases aggregate productivity. The gains result from the "use … income taxes and show that the optimal mix shifts towards a higher wealth tax and a lower capital income tax as the capital …