Incentive Effects of Inheritances and Optimal Estate Taxation
نویسندگان
چکیده
منابع مشابه
Optimum taxation of inheritances
Inheritances create a second distinguishing characteristic of individuals, in addition to earning abilities. We incorporate this fact into an optimum income taxation model with bequests motivated by joy of giving, and show that a tax on inherited wealth is equivalent to a tax on expenditures, i. e. to a uniform tax on consumption plus bequests. These taxes have a positive effect on intertempora...
متن کاملEstate Taxation , Entrepreneurship , and Wealth
Since its introduction in 1916, the estate tax has been one of the most controversial parts of the United States tax code. Estate tax opponents dub it a “death tax,” claim that it hurts business activity and job creation, and assert that its negative effects are thus felt by all households, including those that never pay the tax. For these reasons, they call for abolishing it. In contrast, its ...
متن کاملWealth inequality, family background, and estate taxation
This paper generates two main contributions. First, it provides a new theory of wealth inequality that merges two empirically relevant forces generating inequality: bequest motives and inheritance of ability across generations; and an earnings process that allows for more earnings risk for the richest. Second, it uses the resulting calibrated framework to study the effects of changing estate ta...
متن کاملOnline Appendix for: Wealth Inequality, Family Background, and Estate Taxation
∗Mariacristina De Nardi: UCL, Federal Reserve Bank of Chicago, IFS, and NBER, [email protected]. Fang Yang: Louisiana State University, [email protected]. De Nardi acknowledges support from the ERC, Grant 614328 “Savings and Risks,” and from the ESRC through the Centre for Macroeconomics. We thank Francesco Caselli, Helen Koshy, Ananth Seshadri, Gianluca Violante, Sevin Yeltekin, and several partic...
متن کاملFederal Estate and Gift Taxation: Amended Regulations Change Valuation for Estate
estate and gift taxes are imposed on the value of the property subject to the tax.1 Thus, valuative standards and techniques become critical, valuation being the "key factor in the imposition of estate tax and gift tax."2 Fair market value3 has long been the standard of valuation for the imposition of these taxes, 4 with negotiation and compromise commonplace in agent-taxpayer dealings, althoug...
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2013
ISSN: 0002-8282
DOI: 10.1257/aer.103.3.472