Investigating the Impact of Wealth Tax on Income Distribution in Iran’s Economy

Document Type : Research Article

Authors

1 Assistant Professor, Economics Department, Faculty of Economics, Management and Accounting, Payam Noor University, Tehran, Iran

2 Instructor of Management Department, Faculty of Economics, Management and Accounting, Payam Noor University, Tehran, Iran

Abstract

According to Piketty’s point of view, the rate of income from wealth is always higher than the rate of economic growth, and the share of national income that belongs to capital is always more than the share of labor force. Therefore, inequality increases systematically and increasingly. The solution to this problem is to impose a maximum tax on wealth. Therefore, the tax on the components of wealth was imposed with the aim of reducing inequality. In Iran, this type of tax is collected from different components of wealth. Therefore, this research was conducted with the aim of investigating the impact of wealth tax on income distribution in Iran. For this purpose, a model was estimated in which the Gini coefficient was the dependent variable and the wealth tax and income tax were the independent variables along with the unemployment rate. Estimates were made using the time series data of 1991-2018 with the help of the Johansen-Juselius cointegration method. The results showed that there is a negative relationship between wealth tax and Gini coefficient. So that a one percent increase in wealth tax reduces inequality by 0.729 percent. The results showed that the speed of impact of wealth tax policies on income distribution is very slow, so that applying a change in wealth tax every year shows only 12% of the total impact on inequality.

Keywords

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References

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Journal of Applied Economics Studies in Iran
Volume 12, Issue 46
August 2023
Pages 117-137

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