capital levy

n (Economics) a tax on capital or property as contrasted with a tax on income

Thesaurus

Noun

capital levy - a tax on capital or propertyrevenue enhancement, tax, taxation - charge against a citizen's person or property or activity for the support of governmentland tax, property tax - a capital tax on property imposed by municipalities; based on the estimated value of the property

capital levy

capital levy,

form of taxation by which the government takes part of the capital of any person or business, as distinguished from a tax on personal or business income. It is usually applied to all capital above a certain minimum and may be set aside for a specific purpose, such as the reduction of the public debt. It was used by several European nations experiencing financial difficulties after World War I, and has been advocated as a measure of social welfare and a deterrent to war profits. Opponents of the capital levy stress its implied penalty on saving. In World War II, Great Britain and the United States resorted to extremely high rates of direct taxation in order to accomplish many of the aims of the capital levy.

capital levy

noun

Words related to capital levy

noun a tax on capital or property

Related Words

revenue enhancement
tax
taxation
land tax
property tax

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