Opinions expressed by Forbes Contributors are their own. Andrew Leahey is an attorney and professor that covers tax. A wealth tax is a levy imposed on the net value of held assets, including cash ...
The premise of a wealth tax is to take a small portion of the large amount of money tied up in the fortunes of wealthy individuals and redirect it towards those less well-off via taxation.
FINANCE SECRETARY Ralph G. Recto is not in favor of a “wealth tax,” saying there are al ready enough taxes. “I think we have a lot of wealth taxes also to a certain degree,” Mr. Recto told reporters ...