Machine derived contents note: WEALTH TAXES IN EUROPE 1 -- THE CASE FOR A WEALTH TAX 2 -- (1) Promotion of Horizontal Equity 3 -- (2) Reduction in Inequality 3 -- (3) Encouragement to Efficiency 4 -- (4) Administrative Advantages 5 -- THE CASE AGAINST A WEALTH TAX 5 -- (1) Horizontal Equity? 6 -- (2) Reduction in Inequality? 10 -- (3) Promotion of Efficiency? 11 -- (4) Administrative Advantages? 15 -- BALANCES, TRADE-OFFS AND PARTICULAR SITUATIONS 17 -- TAX OBJECTIVES AND TAX STRUCTURE 19 -- AUSTRALIAN INTEREST IN A WEALTH TAX 19 -- LESSONS FOR AUSTRALIA 21 -- A Unique Opportunity 21 -- Facts and Objectives 22 -- Modest Expectations 23 -- Administrative Model 23 -- Minimum Exemptions 25 -- Treatment of Household Goods and Personal Valuables 26 -- Ceiling Provisions 27 -- A Wealth Tax and Inflation 27 -- A Warning from Ireland 28 -- A Fine Balance 29