India should tax capital income, not wealth or inheritance: Economist

Economist Daniel Waldenstrom has recommended that India focus on taxing capital income, including corporate profits and dividends, as a means to address inequality. According to Waldenstrom, wealth and inheritance taxes may discourage saving and investment, which are essential for economic growth.

Waldenstrom suggests that broader access to education and a strengthened pension system could help more people benefit from economic gains, offering an alternative approach to inequality reduction without hindering investment.