Comments on: The growth of the Giving Pledge and the federal estate tax http://blog.oup.com/2012/05/giving-pledge-federal-estate-tax/ Academic insights for the thinking world. Wed, 22 May 2013 20:11:30 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: OUPblog » Blog Archive » The Giving Pledge and private foundations http://blog.oup.com/2012/05/giving-pledge-federal-estate-tax/#comment-297008 OUPblog » Blog Archive » The Giving Pledge and private foundations Mon, 01 Oct 2012 12:30:30 +0000 http://blog.oup.com/?p=24322#comment-297008 [...] deserves praise, it does raise important issues which deserve discussion. One such issue is the estate tax revenue lost when wealth is donated to charity. This is a significant problem at a time of enormous budget [...] [...] deserves praise, it does raise important issues which deserve discussion. One such issue is the estate tax revenue lost when wealth is donated to charity. This is a significant problem at a time of enormous budget [...]

]]> By: SIMON SAYRE http://blog.oup.com/2012/05/giving-pledge-federal-estate-tax/#comment-274152 SIMON SAYRE Mon, 07 May 2012 20:26:22 +0000 http://blog.oup.com/?p=24322#comment-274152 Gates and Buffet make me laugh. When I have my first BILLION I, too, will take this generous position on Estate Taxes. With their lawyers working overtime figuring ways for them to protect their enormous fortunes they can point a finger at the average upper middle class citizen who had worked a lifetime accumulating a small estate (which has been subject to several taxes while he lived). I am not impressed with the opinions of these plutocrats whose estates (after taxes) will still be in the multi millions. Their "generosity" has no effect on their style of living; private jets, mansions, mega servants, etc. Gates and Buffet make me laugh. When I have my first BILLION I, too, will take this generous position on Estate Taxes.

With their lawyers working overtime figuring ways for them to protect their enormous fortunes they can point a finger at the average upper middle class citizen who had worked a lifetime accumulating a small estate
(which has been subject to several taxes while he lived).

I am not impressed with the opinions of these
plutocrats whose estates (after taxes) will still be in the multi millions. Their “generosity” has no effect on their style of living; private jets, mansions, mega servants, etc.

]]> By: Michael Wyland http://blog.oup.com/2012/05/giving-pledge-federal-estate-tax/#comment-274121 Michael Wyland Mon, 07 May 2012 16:34:56 +0000 http://blog.oup.com/?p=24322#comment-274121 The difficulty with these arguments is that the wealthy, like many of us, have *already* paid taxes in many forms, on an ongoing basis, for the benefits of government. Using a progressive tax system insures that either: 1) the wealthy pay an even greater share than their high incomes would require; or 2) that they legally avoided paying the full taxable rate by directing their wealth to investments and expenditures deemed by law to be at least as beneficial as payment of taxes. Another difficulty, of course, is the disproportionately high costs associated with collecting estate and interitance taxes. These high costs are only magnified when compared to the meager income to the Treasury from such levies. Even most proponents of estate and inheritance taxes do not promote them as significant revenue raisers for government. The difficulty with these arguments is that the wealthy, like many of us, have *already* paid taxes in many forms, on an ongoing basis, for the benefits of government. Using a progressive tax system insures that either: 1) the wealthy pay an even greater share than their high incomes would require; or 2) that they legally avoided paying the full taxable rate by directing their wealth to investments and expenditures deemed by law to be at least as beneficial as payment of taxes.

Another difficulty, of course, is the disproportionately high costs associated with collecting estate and interitance taxes. These high costs are only magnified when compared to the meager income to the Treasury from such levies. Even most proponents of estate and inheritance taxes do not promote them as significant revenue raisers for government.

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