Cnossen, Sijbren; Bovenberg, Lans - CESifo - 2000
income and substitutes it by a presumptive capital income tax, which is in fact a net wealth tax. This paper contrasts this … wealth tax with a conventional realization-based capital gains tax, a retrospective capital gains tax which attempts to … returns on hard-to-value real estate and small businesses, and (c) a broad presumptive capital income tax, i.e., a net wealth …