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How Should Capital be Taxed? Theory and Evidence from Sweden

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  • Spencer Bastani
  • Daniel Waldenström

Abstract

This paper presents a comprehensive analysis of the role of capital taxation in advanced economies with a focus on the Swedish experience. We synthesize the existing theoretical literature, present facts about the capital stock and its distribution, review current capital tax practices and empirical findings regarding their effects on economic activity. The paper also examines the political feasibility of capital taxation by presenting results from a unique attitude survey targeted to a large representative sample of the Swedish population. Finally, we tie together our findings and discuss their implications for tax policy.

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  • Spencer Bastani & Daniel Waldenström, 2018. "How Should Capital be Taxed? Theory and Evidence from Sweden," CESifo Working Paper Series 7004, CESifo.
    • Handle: RePEc:ces:ceswps:_7004
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    6. Salvador Barrios, 2020. "Taxation and growth: Why does it matter and how can it be analysed?," Society and Economy, Akadémiai Kiadó, Hungary, vol. 42(4), pages 366-384, December.
    7. Daniel Waldenström, 2018. "Inheritance and Wealth Taxation in Sweden," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 16(02), pages 08-12, August.
    8. Sudak Gennadiy & Yuliia Savchenko, 2021. "Does Household Tax Burden Have an Impact on Individuals’ Savings in Banks? The Case of Ukraine," Central European Economic Journal, Sciendo, vol. 8(55), pages 378-389, January.
    9. John Revesz, 2020. "A Model of the Optimal Tax Mix Including Capital Taxation," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 48(3), pages 387-402, September.
    10. Mdee, Ephraim Oswald & Aikaeli, Jehovaness & Luvanda, Eliab, 2022. "The Impact of Taxes on Capital Formation in Tanzania," African Journal of Economic Review, African Journal of Economic Review, vol. 10(5), December.
    11. Johannes Hermle & Andreas Peichl, 2018. "Jointly Optimal Taxes for Different Types of Income," CESifo Working Paper Series 7248, CESifo.
    12. Chirvi, Malte & Schneider, Cornelius, 2019. "Stated preferences for capital taxation - tax design, misinformation and the role of partisanship," arqus Discussion Papers in Quantitative Tax Research 242, arqus - Arbeitskreis Quantitative Steuerlehre.
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    4. Katrine Jakobsen & Kristian Jakobsen & Henrik Kleven & Gabriel Zucman, 2020. "Wealth Taxation and Wealth Accumulation: Theory and Evidence From Denmark," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(1), pages 329-388.
    5. Stefanie Stantcheva, 2020. "Dynamic Taxation," Annual Review of Economics, Annual Reviews, vol. 12(1), pages 801-831, August.
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    More about this item

    Keywords

    optimal taxation; capital taxation; wealth tax; inheritance tax; corporate tax; income equality; wealth inequality; political economy; preferences for redistribution;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • F38 - International Economics - - International Finance - - - International Financial Policy: Financial Transactions Tax; Capital Controls
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies

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