About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

1 Alan Cole, Estate and Inheritance Taxes around the World 1 (2015)

handle is hein.taxfoundation/esinhtxw0001 and id is 1 raw text is: TA XS r 6bi FOUNDATION Estate and nheritance Taxes around FISCAL the World FACT Mar. 2015 By Alan Cole No. 458 Economist Key Findings The U.S. has the fourth highest estate or inheritance tax rate in the OECD at 40 percent; the world's highest rate, 55 percent, is in Japan, followed by South Korea (50 percent) and France (45 percent). Fifteen OECD countries levy no taxes on property passed to lineal heirs. The U.S. estate tax has a high rate and a large exemption; as a result, it raises very little revenue and applies to very few households. U.S. estate tax receipts have declined precipitously over the last fifteen years, from $38 billion (2015 dollars) in 2001 to an estimated $20 billion in 2015. As estate taxes become narrow-based, meager revenue sources with high administrative costs, repeal becomes a strong option. Thirteen countries or jurisdictions have repealed their estate or inheritance taxes since 2000. Repeal of the U.S. estate tax would gradually increase the U.S. capital stock by 2.2 percent, boost GDP, create 139,000 jobs, and eventually increase federal revenue.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most