[[{“value”:”From my Bloomberg column of last week: Just as more capital assets would go to foreigners, they would also go to domestic nonprofit and other non-taxpaying institutions. Rather than donating money to their favorite charity, people would be more likely to give them stock or other assets. But it would be harder for those institutions
The post A bit more on wealth taxes appeared first on Marginal REVOLUTION.”}]]
From my Bloomberg column of last week:
Just as more capital assets would go to foreigners, they would also go to domestic nonprofit and other non-taxpaying institutions. Rather than donating money to their favorite charity, people would be more likely to give them stock or other assets. But it would be harder for those institutions to liquidate those assets, because appropriate for-profit investors will face the new and higher tax burden. So an inefficiently high quantity of capital assets will be held in the nonprofit sector. The nonprofits will be riskier, and in the longer run they might be richer — at the expense of the private sector.
Much of the rest of the column concerns the incentive to sell capital to non-resident foreigners, following a wealth or higher capital gains tax.
The post A bit more on wealth taxes appeared first on Marginal REVOLUTION.
Economics, Uncategorized
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