There are growing calls to increase taxes on the wealthy in advanced economies such as the United States and Australia. For instance, US Congresswoman Alexandria Ocasio-Cortez controversially wore a white evening dress with the words “Tax the Rich” written in red across it to the 2021 Met Gala. In Economics Explored episode 112, Australian tax expert Professor Miranda Stewart speaks with show host Gene Tunny about taxes on wealth, including inheritance taxes and the proposed billionaire tax in the United States. What is driving calls to “Tax the Rich” from politicians such as Alexandra Ocasio-Cortez and various commentators? Would it be sensible to do so?
About this episode’s guest – Professor Miranda Stewart
Miranda Stewart is Professor of Law at the University of Melbourne Law School where she is Director of the Tax Group and is a Fellow at the Tax and Transfer Policy Institute at the Crawford School of Public Policy, The Australian National University. Miranda was the inaugural Director of the Institute from 2014 to 2017. Miranda has more than 25 years research, practical and leadership experience in tax law and policy in academia, government and the private sector.
Links relevant to the conversation
Death duties: Why experts think this tax should be re-introduced (Australian media article quoting Prof. Stewart on inheritance tax)
The coming boom in inherited wealth by John Quiggin
Thanks to the show’s audio engineer Josh Crotts for his assistance in producing the episode.
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