Wealth tax incentivizes the wealthy to ‘share the wealth’
Ibrahim Khan 20 -- an angel investor, and cofounder of IFG.VC (“Here's how a revamped wealth tax could fuel the COVID recovery”, 8-3-2020, https://www.weforum.org/agenda/2020/08/how-redesigned-wealth-taxes-could-help-us-weather-the-coronavirus-crisis/, Date Accessed 7-6-2023) //TCM
If given the choice to be taxed, or to invest and circulate their wealth, many of the wealthy will choose the latter. And if this is recast as a socially responsible, or even philanthropic, thing to do with one’s wealth, they will feel good about it for more than one reason. 'Sharing the wealth' doesn’t only mean giving it away to charity – it can also mean investing it so that the benefits of growth can be enjoyed by all. And smart, workable wealth taxes can make that happen at a time when the world needs to search for new solutions.