Cremating Transfer Taxes: Is There Hope for a Resurrection?
28 Pages Posted: 3 Aug 2014
Date Written: August 1, 1999
Our transfer taxes are in decay. Legislators have lessened their impact and threaten now to weaken them further or to eliminate them. Imaginative taxpayers with the help of their advisors, too, have received judicial approval to drain much of the life from transfer taxes. Yet, transfer taxes continue to raise significant revenue and temper accumulations of wealth. Transfer taxes could be restored to a robust state through the adoption of measures patterned on the Tax Reform Act of 1986, including broadening the transfer tax base, reducing transfer tax rates, and introducing administrative simplification measures. The authors detail both the problems plaguing the transfer tax system and the path to meaningful reform.
JEL Classification: K34
Suggested Citation: Suggested Citation