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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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    3. Emmanuel Saez & Gabriel Zucman, 2019. "Progressive Wealth Taxation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 50(2 (Fall)), pages 437-533.
    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.
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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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