000			01129nab a22001217a 4500
008			160615b1996 xxu||||| |||| 00| 0 eng d
100			_aWagner, Richard
245			_aFederal transfer taxation _cthe effect on saving, capital accumulation, and economic dis
260			_c1996
300			_a269 - 283
520			_aThe federal government levies taxes on property transfers at death (the estate tax), during life (the gift tax), and to grandchildren or more remote descendants (the generation-skipping tax). Referred to collectively as transfer taxes, these taxes attract little interest in the public policy forum because they produce little revenue -- only 1% of annual federal tax revenues, and because most Americans have no first-hand experience with transfer taxes. However, transfer taxes have significantly adverse economic effects that are grossly disproportionate to the tax revenues they generate. Transfer taxes penalize success and the creation of wealth. The adverse effects of transfer taxes on saving and capital formation, therefore, are costs imposed on society as a whole.
773			_aFamily Business Review _dSep
999			_c43544 _d43544