{"id":568,"date":"2022-10-04T10:36:04","date_gmt":"2022-10-04T10:36:04","guid":{"rendered":"https:\/\/webfastsg.com\/offshore\/?post_type=encyclopedia&#038;p=568"},"modified":"2022-10-04T10:36:04","modified_gmt":"2022-10-04T10:36:04","slug":"wealth-tax","status":"publish","type":"encyclopedia","link":"https:\/\/webfastsg.com\/offshore\/encyclopedia\/wealth-tax\/","title":{"rendered":"Wealth Tax"},"content":{"rendered":"<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;A wealth tax is a tax on an individual's assets, including property and savings. The purpose of a wealth tax is to reduce inequality and raise revenue for the government. Wealth taxes are progressive, meaning that they tax wealthier individuals at a higher rate than less wealthy individuals.\\n\\nCritics of wealth taxes argue that they are unfair and discourage investment and entrepreneurship. Supporters of wealth taxes argue that they are necessary to reduce inequality and fund government programs.&quot;}\" data-sheets-userformat='{\"2\":769,\"3\":{\"1\":0},\"11\":4,\"12\":0}'>A wealth tax is a tax on an individual&rsquo;s <a href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/assets\/\" target=\"_self\" title=\"An asset is anything that can be used to produce economic value and generate benefits. It may be tangible, like a factory or piece of land, or intangible, like a patent or copyright. In accounting, assets are divided into two broad categories: current assets and non-current assets. Current assets are those that are expected to&hellip;\" class=\"encyclopedia\">assets<\/a>, including property and savings. The purpose of a wealth tax is to reduce inequality and raise revenue for the government. Wealth taxes are progressive, meaning that they tax wealthier individuals at a higher rate than less wealthy individuals.<\/span><\/p>\n<p>Critics of wealth taxes argue that they are unfair and discourage investment and <a href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/entrepreneur\/\" target=\"_self\" title=\"An entrepreneur is someone who is willing to take on the risk of starting and running their own business. This person is usually creative and has a good business sense. They are also able to motivate and inspire others to work towards a common goal.\" class=\"encyclopedia\">entrepreneur<\/a>ship. Supporters of wealth taxes argue that they are necessary to reduce inequality and fund government programs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A wealth tax is a tax on an individual&#8217;s assets, including property and savings. The purpose of a wealth tax is to reduce inequality and raise revenue for the government. Wealth taxes are progressive, meaning that they tax wealthier individuals at a higher rate than less wealthy individuals. Critics of wealth taxes argue that they &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/wealth-tax\/\"> <span class=\"screen-reader-text\">Wealth Tax<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":3,"template":"","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"encyclopedia-tag":[],"_links":{"self":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/encyclopedia\/568"}],"collection":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/encyclopedia"}],"about":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/types\/encyclopedia"}],"author":[{"embeddable":true,"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/users\/3"}],"wp:attachment":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/media?parent=568"}],"wp:term":[{"taxonomy":"encyclopedia-tag","embeddable":true,"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/encyclopedia-tag?post=568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}