Who Pays Wealth Tax: The Rich or the Poor?

Who Pays Wealth Tax: The Rich or the Poor?
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The Spanish government’s announcement that it plans to introduce a new “solidarity tax” on the wealth of those who possess over €3 million has again brought to the fore the debate about taxes levied on wealth and capital. The issue is not merely that the announcement is highly politicized in what is already, de facto, a preelection period, nor that it could disrupt the fiscal autonomy of Madrid, Andalusia, and Galicia. (Let us recall that these regions comprise eighteen million Spanish people; that is, almost 38 percent of Spain’s total population.) Neither must we focus on the possible illegality or...
Source: https://www.newswars.com/who-pays-wealth-tax-the-rich-or-the-poor/