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1 David S. Logan, The Economic Effects of the Estate Tax: Testimony of David S. Logan before the Pennsylvania House Finance Committee [i] (2011)

handle is hein.taxfoundation/taxfaapf0001 and id is 1 raw text is: TAX FOUNDATION The Economic Effects of the Estate Tax Testimony of David S. Logan Economist, Tax Foundation Hearing before the Pennsylvania House Finance Committee October 17, 2011 I am David Logan, an economist with the Tax Foundation. Thank you Chairman Benninghoff and Chairman Mundy for the opportunity to speak today about the economic consequences of Pennsylvania's state inheritance tax. Founded in 1937, the Tax Foundation is the nation's oldest non-partisan, non-profit organization dedicated to promoting economically sound tax policy at all levels of government. The Tax Foundation's work is guided by the principles of sound tax policy, which require that taxes be neutral to economic decision making; that they be simple, transparent, and stable; and that they promote economic growth. Though Pennsylvania administers an inheritance tax, it differs from an estate tax merely in administrative aspects. My remarks will focus on the large body of literature on the estate tax and its similarities to the inheritance tax. Pennsylvania's inheritance tax distorts economic decision making, increases overall tax compliance costs, is overly complex, and hinders economic growth. Introduction Estate and inheritance taxes have been written into public policy off and on since 1797. However, the absence of a state inheritance or estate tax has many long-term, pro-growth benefits, which include but are not limited to: a massive reduction in compliance and avoidance costs, a more efficient allocation of useful economic resources that would otherwise be diverted away from

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