Aaron, Henry J.; Munnell, Alicia H.
June 1992
National Tax Journal;Jun92, Vol. 45 Issue 2, preceeding p119
Academic Journal
This article brings together several strands in the literature to provide a framework for assessing the role of wealth transfer taxes. It examines the theoretical rationale for these taxes, discusses data on the distribution and accumulation of wealth, and reviews the experience of the United States and other countries under their existing systems. Although wealth is highly concentrated in industrial countries and the life-cycle framework indicates that wealth transfers should be taxed, this paper finds that countries do little through their tax systems to affect wealth concentration. Because a substantial portion of the existing stock of wealth is inherited, these taxes could have significant equalizing effects. Thus, a serious reassessment of wealth transfer taxes is warranted.


Related Articles

  • Talking Tax. Jago, Margaret // International Money Marketing;Sep2004, p18 

    The article discusses issues related to taxation of gifts. The author says that the major advantage of making exempt gifts is that they fall out of the donor's estate immediately for Great Britain inheritance tax purposes. The exemption for normal expenditure out of income applies if a transfer...

  • How To Eliminate The Estate Tax. Blackman, Irving L.; Whitlock, Brian // Modern Machine Shop;Sep2003, Vol. 76 Issue 4, p36 

    Gives advice on problems with estate tax in the U.S. Value of the estate tax; Reason for the continuous existence of the estate tax; Advantage of creating a wealth transfer and succession plan; Method in creating the plan.

  • A British Wealth Tax. Opie, Roger // New Republic;10/5/74, Vol. 171 Issue 14, p6 

    Reports that Chancellor of the Exchequer Denis Healey, has proposed a tax on wealth in Great Britain. Objective of the wealth tax; Declaration made in Healey's green paper; Estate duties in Great Britain; Views of Healey that the burden of personal taxation should be distributed as fairly as...

  • Hostages of Television. Fairlie, Henry // New Republic;2/7/81, Vol. 184 Issue 6, p9 

    Presents information on how the television played an important role in helping militants in Tehran in the hostage crisis. Allegation that television played straight into the hands of the militants in Teheran; Information that all of the original 66 hostages were in the public service of their...

  • Taxing Wealth Swedish Style. Miller, John // Dollars & Sense;Sep/Oct2005, Issue 261, p12 

    Comments on the article "Till Death Do Us Part," which appeared in the July 8, 2005 issue of the "Wall Street Journal." Political economists who have called for the taxation of estates; Advantages of Sweden's wealth tax; Effective U.S. inheritance tax rate. INSET: Till Death Do Us Part.

  • Winning the tax game is only half a victory. Blackman, Irving L.; Whitlock, Brian T. // Modern Machine Shop;Aug97, Vol. 70 Issue 3, p36 

    Focuses on human problems associated with taxation of wealth transfer and estate planning in the United States. Important aspects of the basic gift-tax law; Real-life tax case that illustrates the problems and solutions.

  • Strike up the nil-rate band. Wickenden, Tony // Money Marketing;2/22/2007, p58 

    The article discusses the impact of the changes of the 2006 Budget and Finance Act on the use of trusts in estate planning in Great Britain. The author believes that the changes will affect chargeable transfers made above the nil-rate band. If the loss to the transferor's estate exceeds the...

  • Seeing the woods for the trees. Carmichael, Keith // Accountancy;Sep75, Vol. 86 Issue 985, p62 

    The article examines the implications of capital transfer tax that affected the liability to tax on woodlands in Great Britain as of September 1975. In an introduction of the capital transfer tax, the relief can only be claimed in respect of woodlands passing on a death. This relief can be...

  • New testament. Wickenden, Tony // Money Marketing;10/16/2008, p59 

    The article discusses the issue concerning the introduction of the transferable £1 million nil-rate band in Great Britain. It explores the impact of the use of the transferable nil-rate band on unmarried individuals and those with estates of up to £1 million. It highlights several issues...


Read the Article


Sign out of this library

Other Topics