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Wealth tax
A
wealth tax
(also called a
capital tax
,
equity tax
, or
net worth tax
) is a levy on the total value of personal
assets
, including
owner-occupied housing
;
cash
,
bank deposits
,
money funds
, and savings in
insurance
and
pension plans
; investment in
real estate
and
unincorporated businesses
; and
corporate stock
,
financial securities
, and personal trusts. Typically liabilities (primarily
mortgages
and other loans) are deducted, hence it is sometimes called a
net wealth tax
.
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