The 2026 Billionaire Tax Act, a California ballot initiative, would ostensibly impose a one-time tax of 5 percent on the net worth of the state’s billionaires. Due, however, to aggressive design choices and possible drafting errors, the actual rate on taxpayers’ net worth could be dramatically higher.
18 min read
Senator Bernie Sanders introduced a proposed 5 percent annual wealth tax on billionaires to fund direct payments to Americans and expand social welfare programs.
5 min read
Proponents of a California wealth tax ballot initiative insist that the proposed wealth tax is temporary: a one-time 5 percent tax that can be paid upfront or over five years with deferral charges. Others are skeptical that the wealth tax would be allowed to expire.
6 min read
Policymakers concerned about the current tax treatment of unrealized capital gains would be better off exploring policy solutions like consumption taxes rather than tried-and-failed strategies.
5 min read
Recent discussions of a proposed wealth tax for the United States have included little information about trends in wealth taxation among other developed nations. However, those trends and the current state of wealth taxes in OECD countries can provide context for U.S. proposals.
3 min read
Recent plans to increase the tax burden on wealthy Americans, such as higher marginal income tax rates and wealth taxes, are flawed in several ways, including in their lack of understanding of tax history.
4 min read
New modeling finds that the wealth taxes proposed by Sen. Warren and Sen. Sanders would raise significantly less revenue than promised, face serious administrative and compliance challenges, and would increase foreign ownership of U.S. capital.
38 min read
Only three European countries levy a net wealth tax—Norway, Spain, and Switzerland. France and Italy levy wealth taxes on selected assets.
4 min read
Congressional Democrats are reported to be weighing a special tax on the assets of billionaires to raise revenues to pay for their Build Back Better spending plan. There are two fundamental challenges to such a plan.
8 min read
The proposed increase of Vermont’s top income tax rate would have negative effects on the state’s economy and competitiveness.
The proposed California wealth tax could be levied on founders’ voting interests in their companies, despite the initiative’s drafters insisting otherwise.
6 min read
The past decade’s record suggests that countries have reliable legislative methods to improve their tax systems through ordinary tax reforms.
22 min read
Proponents of a California wealth tax ballot initiative insist that the proposed wealth tax is temporary: a one-time 5 percent tax that can be paid upfront or over five years with deferral charges. Others are skeptical that the wealth tax would be allowed to expire.
6 min read
Structural reforms such as broadening tax bases, improving cost recovery, and shifting toward less distortive taxes can improve competitiveness without necessarily reducing revenue.
7 min read
Senator Bernie Sanders introduced a proposed 5 percent annual wealth tax on billionaires to fund direct payments to Americans and expand social welfare programs.
5 min read
State lawmakers around the country have begun their legislative sessions, and many are considering tax reform. This piece highlights some of the areas on which they are likely to focus.
4 min read
The 2026 Billionaire Tax Act, a California ballot initiative, would ostensibly impose a one-time tax of 5 percent on the net worth of the state’s billionaires. Due, however, to aggressive design choices and possible drafting errors, the actual rate on taxpayers’ net worth could be dramatically higher.
18 min read
For the past 12 years, the International Tax Competitiveness Index has examined which countries have truly embraced tax competitiveness and which ones have lagged behind. Our experts examine how country rankings have changed over time and identify the largest movers and shakers.
5 min read
Instead of implementing new wealth taxes, European policymakers should focus on making the current tax system more efficient and transparent.
Switzerland’s proposed 50 percent billionaire estate tax promises negligible revenue, risks economic harm, and strips cantons of their autonomy and tax competition.
5 min read
Spain’s central government could learn some valuable lessons from its regional governments and other European countries about sound tax policy.
7 min read
The State Tax Competitiveness Index enables policymakers, taxpayers, and business leaders to gauge how their states’ tax systems compare. While there are many ways to show how much state governments collect in taxes, the Index evaluates how well states structure their tax systems and provides a road map for improvement.
122 min read
The 2025 Spanish Regional Tax Competitiveness Index allows policymakers and taxpayers to evaluate and measure how their regions’ tax systems compare.
7 min read
Sean Bray interviewed Dr. Sérgio Vasques, Professor of Tax Law at the Catholic University of Lisbon and former Portuguese Secretary of State for Tax Affairs, about the future of the EU tax mix.
7 min read
Sean Bray interviewed Professor of Tax Law at the Lisbon School of Law of the Catholic University of Portugal, Dr. Miguel Correia, about the future of the EU tax mix.
12 min read
Sean Bray interviews Dr. Irma Mosquera Valderrama, Full Professor of Tax Governance at Leiden Law School (Leiden University) and EU Jean Monnet Chair Holder on EU Tax Governance about the EU tax mix.
24 min read
Sean Bray interviews Dr. Michele Chang, Director of the Masters in Transatlantic Affairs and Professor of European Political Governance at the College of Europe, about the future of the EU tax mix.
12 min read
Wealth taxes not only collect little revenue and create legal uncertainty, but an OECD report argues that they can also disincentivize entrepreneurship, harming innovation and long-term growth.
5 min read
The French Revolution provides insight into the relationship between a government and its citizens and serves as a reminder that tax policy can have impacts (big and small) that last for centuries.