The Economics of the Estate Tax: A StudyU.S. Government Printing Office, 1999 - 66 páginas |
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The Economics of the Estate Tax: A Study United States. Congress. Joint Economic Committee Visualização completa - 1999 |
The Economics of the Estate Tax: A Study United States. Congress. Joint Economic Committee Visualização completa - 1999 |
Termos e frases comuns
Aaron and Munnell American amount analysis André Masson arguments Aronoff Astrachan average Barry W black-owned Blinder capital accumulation capital stock charitable bequests charitable giving conservation easement consumption costs death tax decedents Denis Kessler dollars donations economic growth environmentally Estate and Gift estate tax bill estate tax liability estate tax rates Estate Tax Returns estate tax revenue estate taxation estimate family firms federal estate tax Gift Taxes Government Printing Office impact income tax increase indicate individuals inheritance inter vivos Intergenerational Transfers Internal Revenue Service investment James Tomkins Jim Saxton Joint Economic Committee Joseph E Journal of Political Kotlikoff and Summers land liquidity constraints Management and Budget MassMutual millionaires Office of Management Office of Tax pay estate taxes percent Political Economy reducing inequality savings self-employment Small & Emerging small businesses Stiglitz supra note survey tax avoidance strategies tax incentives Tax Policy Research taxpayers Tree Farm Washington wealth transfer taxes
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Página 29 - For the general prosperity, there cannot be too much facility given to the conveyance and exchange of all kinds of property, as it is by such means that capital of every species is likely to find its way into the hands of those, who will best employ it in increasing the productions of the country. " Why,
Página 13 - At this moment, after a lapse of a little more than sixty years, the aspect of society is totally altered; the families of the great landed proprietors are almost all commingled with the general mass. In the State of New York, which formerly contained many of these, there are but two who still keep their heads above the stream, and they must shortly disappear. The sons of these opulent citizens are become merchants, lawyers, or physicians. Most of them have lapsed into obscurity. The last trace of...
Página 13 - The last trace of hereditary ranks and distinctions is destroyed, — the law of partition has reduced all to one level. I do not mean that there is any lack of wealthy individuals in the United States; I know of no country, indeed, where the love of money has taken stronger hold on the affections of men, and where a profounder contempt is expressed for the theory of the permanent equality of property. But wealth circulates with inconceivable rapidity, and experience shows that it is rare to find...
Página 28 - They are all more or less unthrifty taxes that increase the revenue of the sovereign, which seldom maintains any but unproductive labourers ; at the expense of the capital of the people, which maintains none but productive.
Página 47 - One way to measure vertical equity is to compare the average tax rates for different income or asset levels. Based on this criterion, the estate tax does not exhibit vertical equity. According to IRS data, the...
Página 5 - The remainder of this paper is organized into four sections. Section II provides a brief overview of the history and mechanics of the estate tax.
Página 12 - In the United States it has nearly completed its work of destruction, and there we can best study its results. The English laws concerning the transmission of property were abolished in almost all the states at the time of the Revolution. The law of entail was so modified as not materially to interrupt the free circulation of property.
Página 2 - The Joint Economic Committee (JEC) released its study, The Economics of the Estate Tax, concluding that the estate tax generates costs to the taxpayer, the economy and the environment that far exceed any potential benefits. Specifically, the report found the following: • The estate tax is a leading cause of dissolution for thousands of family-run businesses. Estate tax planning further diverts resources available for investment and employment. • The estate tax is extremely punitive, with marginal...