Tax the Ultrarich Without Throwing Out Realization: A conversation with Brian Galle
About this episode
Jeff and Scott discuss Brian Galle's proposal for taxing the ultrarich without eliminating the principle of realization.
Send us Fan Mail Jeff and Scott chat with Brian Galle about his new paper, How to Tax the Ultrarich. Most proposals that seek to tax the very wealthy differently eliminate the principle of realization, such as wealth taxes or mark-to-market regimes. These approaches carry considerable baggage, including liquidity problems, valuation problems, and related concerns. By contrast, Brian proposes a tax that eliminates some of the value of deferral, which would reduce the incentive to hold as...
People in this episode
Hosts: Jeff, Scott
Guest: Brian Galle
Topics covered
- taxation
- wealth tax
- ultrarich
- realization principle
- deferral
- liquidity problems
Keywords
- tax the ultrarich
- wealth taxes
- mark-to-market
- deferral
- liquidity problems
- valuation problems
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