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OPINION – By Prof. Dr. Bruno COLMANT, CFA, Member of the Royal Academy of Belgium
Several political parties support increased capital taxation to combat social and fiscal inequalities. While these inequalities are undeniably widening despite extensive state redistribution, taxing the rich is not a structural solution to social imbalances. Moreover, it is unclear whether such taxation would be effective and redistributive. Even if this demand may seem populist or excessive to some, we must listen to its moral foundation, which reflects the growing dualization of our societies.
Taxing wealth takes many forms. One can tax movable property. One can also tax the transfer of property (donation or inheritance rights) and even its transformation ...
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