[lbo-talk] Re: death tax

[Michael Catolico]

does anyone know if there is some research/data on how much inheritance 
actually passes to heirs annually? i wonder if it is possible to 
construct a tax system in which the only form of tax is based on 
inheritance and gifting. there could be something like an exemption for 
primary residence and say $1 million in other assets (of course to be 
adjusted upward in line with increases in the minimum wage). all other 
assets either gifted or left in an estate would be taxed at 99.9%. 
loopholes like "loans" to family members would be treated as gifts if 
unpaid at the death of the lender. because of the $1 mil threshold i'd 
suspect that most americans would never be taxed at all and thus such 
legislation might be enthusiastically received by the majority of the 
population.  and then all those who give lip service to the supposed 
existence of a meritocracy would actually have to put their money where 
their mouths are.

Doug wrote:


>[also thanks to Michael Pug, who rightly comments, you can't make this shit up]
>
><http://www.atr.org/content/pdf/2005/sep/090205ot-ggn_deathtax_memo.pdf>
>  
>