Publications by Topic
Topic: Estate Taxes
Back from the Grave: Revenue and Distributional Effects of Reforming the Federal Estate Tax (Research Report)
Author(s):
Leonard E. Burman , Katherine Lim , Jeff Rohaly
In this paper we review the current wealth transfer tax rules and the changes introduced in 2001. We offer an overview of the methodology underlying the TPC's estate tax model and then use the model to estimate the number of estate tax filers, taxable returns, and the distribution of burden under current law. Finally, we investigate the revenue and distributional effects of several proposals to reform the estate tax, including those put forth by the presidential candidates.
Published: 10/20/08
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A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans (Summary) (Summary)
Author(s):
The Tax Policy Center
Tax and fiscal policy will loom large in the next president's domestic policy agenda. Nearly all of the tax cuts enacted since 2001 expire at the end of 2010 and the individual alternative minimum tax (AMT) threatens to ensnare tens of millions of Americans. While a permanent fix palatable to both political parties has proven elusive, both candidates have proposed major tax changes. This summary outlines our analysis of the 2008 presidential candidates' tax plans. The full length report is also available.
Published: 06/24/08
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A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans (Full Report) (Research Report)
Author(s):
The Tax Policy Center
Tax and fiscal policy will loom large in the next president's domestic policy agenda. Nearly all of the tax cuts enacted since 2001 expire at the end of 2010 and the individual alternative minimum tax (AMT) threatens to ensnare tens of millions of Americans. While a permanent fix palatable to both political parties has proven elusive, both candidates have proposed major tax changes. This report describes how we performed our modeling and analysis, outlines the major tax proposals, and discusses the implications of their policies for the revenue raised, taxpayer economic activity, and the distribution of the tax burden.
Published: 06/20/08
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The Distribution of Federal Taxes, 2008-11 (Research Report)
Author(s):
Jeff Rohaly
Overall, the federal tax system is highly progressive. On average, households with higher incomes pay taxes that are a larger share of their income. The tax cuts passed since 2001 have reduced progressivity with the notable exception of the 2008 stimulus package. Almost all provisions of the tax cuts are set to expire by the end of 2010. Barring legislative action, effective tax rates will rise across the income spectrum in 2011 with the largest increases in the upper income classes. This paper summarizes the Tax Policy Center's latest estimates of the distribution of federal taxes for 2008 through 2011.
Published: 06/11/08
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Revenue and Distributional Effects of the Individual Income and Estate Tax Provisions of Senator Thompson's Plan for Tax Relief and Economic Growth (Research Report)
Author(s):
Leonard E. Burman , Greg Leiserson , Jeff Rohaly
Republican Presidential Candidate Fred Thompson has announced a tax plan that combines tax cut extensions, additional tax cuts, and an election to pay tax under a new alternative tax system that would substitute a larger standard deduction for all current deductions and credits and have two rates of 10 and 25 percent. Thompson's plan would reduce federal revenues by $6-7 trillion over ten years, amounting to a reduction of almost 20 percent below current projections, and would be highly regressive. This article describes the proposed changes in the individual income and estate tax and examines their implications for revenue and the distribution of tax burdens.
Published: 12/10/07
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Tax Policy: Facts and Figures: October 2006 (Research Report)
Author(s):
The Tax Policy Center
The early years of the 21st century have been marked by a major tax bill almost every year. This fact sheet looks at the impact of these laws on taxpayers, especially on who benefits and who doesn’t, and discusses some unfinished business, including the future of the estate tax and the individual alternative minimum tax.
Published: 10/23/06
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State-Level Estate and Inheritance Taxes (Article/Tax Facts)
Author(s):
Leonard E. Burman , Sonya Hoo
The Economic Growth and Taxpayer Relief Reconciliation Act of 2001 (EGTRRA) phased out the state death tax credit from 2002 to 2004, eliminating it completely for 2005. Prior to EGTRRA, almost all states collected a "pick-up" tax that was equivalent to the federal credit. In 2000, estate and inheritance tax revenues averaged 1.43 percent of states' total tax receipts. By 2005, the average fell to 0.7 percent.
Published: 08/28/06
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'Death Tax' Repeal Unfair to Those Who Owe 'Birth Tax' (Commentary)
Author(s):
Diane Lim Rogers
Those in favor of permanent estate tax repeal talk of the need to eliminate the "death tax," but only 1 in 200 deaths will actually result in estate tax liability this year, and only 1 in 300 by 2009. Estate tax relief benefits the very few richest households, yet imposes the tremendous and unavoidable cost of a higher federal debt--a "birth tax"--on all Americans.
Published: 05/31/06
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Estate Tax Reform—A Third Option (Article/Economic Perspective)
Author(s):
C. Eugene Steuerle
Several pressures are combining to force lawmakers to seek a more permanent resolution to the estate tax issue. This article suggests a possible compromise that would enhance the ability of wealthy individuals to avoid paying tax to government and still pass on significant assets to their heirs-but only if they make substantial contributions to charity. The compromise includes giving a substantial credit against estate tax for charitable gifts.
Published: 07/18/05
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