Wealth Tax

Wealth Tax is a tax based on the market value of assets which have been owned. These possessions include, but usually are not limited to, cash, bank deposits, shares, fixed assets, personal cars, assessed importance of real property, pension plans, cash funds, owner entertained housing and trusts. An ad valorem tax on property and an intangible duty on financial possessions are both types of a wealth duty. Although many developed countries tend to tax wealth, the USA has generally desired taxing income.