Berkeley’s Zucman on Inequality and the Case For Adopting a Wealth Tax

The video discusses the rise of income and wealth inequality since the 1970s, highlighting the shift from a progressive tax system to a regressive one, especially for the wealthiest. It explores the causes of tax inequality, such as reduced marginal rates and non-taxable wealth accumulation. The discussion includes the purpose and impact of a wealth tax, aiming to raise revenue and reduce wealth concentration. The debate on democratic decision-making in wealth distribution and potential challenges of implementing a wealth tax, including capital flight and constitutional issues, is also covered.

What is the estimated revenue that the wealth tax could generate over the next 10 years?

What are the potential consequences of imposing a substantial wealth tax?

How does the U.S. tax system differ from European countries regarding expatriates?