How Fiscal and Tax Policies Contribute to Common Prosperity:A Perspective on Regulating Household Wealth Accumulation
To advance the common prosperity for all people,it is essential to adhere to the people-centered approach and continuously reduce disparities across regions,urban and rural areas,communities,and access to basic public services.Fiscal and tax policies should be designed to promote coordinated regional development to lessen geographical disparities,foster urban-rural integration to bridge the urban-rural divide,improve the distribution system to minimize group disparities,and enhance the accessibility of basic public services to diminish gaps in service provision.This paper analyzes the current situation of household wealth accumulation in China against the backdrop of common prosperity,elucidating the challenges faced by existing fiscal and tax policies in standardizing household wealth accumulation,and proposes that future efforts should focus on enhancing the effectiveness of fiscal and tax policies to increase the total social wealth,refining the tax structure to organize the income distribution more effectively,advancing the equalization of basic public services to narrow the gaps between regions,urban and rural areas,and various groups,and improving tax incentives for charitable donations to amplify the role of tertiary distribution in facilitating common prosperity.
Common ProsperityIncome DistributionWealth AccumulationFiscal and Tax Policies