- State & Local
This primer examines the administrative, empirical, and economic case against wealth taxation at the state and national levels. Drawing on historical and empirical evidence, the authors document that wealth tax revenue estimates lack credibility, that wealth taxes distort incentives to save, invest, and build businesses, and that renewed interest in wealth tax proposals reflects political pressure rather than new evidence of effectiveness. Of twelve OECD countries that levied wealth taxes in 1990, nine had repealed them by 2025 due to administrative complexity, capital flight, and disappointing revenue.
