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Bequest Taxes and Accumulation of Household Wealth: U.S. - Japan ComparisonThomas A. BartholdGovernment of the United States of America - Joint Committee on Taxation Takatoshi ItoUniversity of Tokyo - Faculty of Economics; National Bureau of Economic Research (NBER); Ministry of Finance, Tokyo May 1991 NBER Working Paper No. w3692 Abstract: The objective of this paper is two-fold. First, we describe and compare the gift and bequest (estate) tax systems in the United States and Japan. Second, we use tax data to estimate the magnitude of intergenerational transfers. The magnitude of intergenerational transfers provides aid in determining how much outstanding wealth is obtained through intergenerational transfers, an issue of current controversy. In both Japan and the United States, a substantial portion of wealth, and especially of land in Japan, is bequeathed from one generation to the next.
Number of Pages in PDF File: 109 working papers seriesDate posted: April 27, 2000Suggested CitationContact Information
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