LONG before Covid-19 hit, there had been a fierce debate in the UK and elsewhere about how to fight growing economic inequality. One idea that got a lot of attention was whether to tax assets and, more generally, wealth. The pandemic has brought this back to the fore.
The issues with wealth taxes are many and varied, but they often circle back to the difficulty of targeting people who are very mobile and adept at employing both legal and illegal means of hiding their prosperity.
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