THE PREFERENCE FOR ACCUMULATION VS. SPENDING: GIFT AND ESTATE TAXATION, AND THE TIMING OF WEALTH TRANSFERS

THE PREFERENCE FOR ACCUMULATION VS. SPENDING: GIFT AND ESTATE TAXATION, AND THE TIMING OF WEALTH TRANSFERS

WRITERS on public finance criticize the policy of treating estates and gifts differently for tax purposes. The argument is that, since estates and gifts are equivalent transfers of wealth, they should be taxed on a similar basis. But in fact, the gift tax rate is only 75 per cent of the estate tax r...

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Veröffentlicht in:National tax journal 1969-09, Vol.22 (3), p.390-398
Hauptverfasser: SCHWARTZ, ELI, ARONSON, J. RICHARD
Format: Artikel
Sprache:eng
Schlagworte:
Capital gains
Estate taxes
Federal taxes
Gift taxes
Income taxes
Life expectancy
Marital deductions
Preferences
Present value
Tax rates
Taxation
Transfer taxes
Wealth
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Beschreibung
Zusammenfassung:WRITERS on public finance criticize the policy of treating estates and gifts differently for tax purposes. The argument is that, since estates and gifts are equivalent transfers of wealth, they should be taxed on a similar basis. But in fact, the gift tax rate is only 75 per cent of the estate tax rate and generally...
ISSN:0028-0283
1944-7477
DOI:10.1086/NTJ41791669