Lessons of 1932
Estate Planning Studies, July 2010
8 Pages Posted: 2 Aug 2010
Date Written: July 1, 2010
This article analyzes the estate and gift tax provisions included in the Revenue Act of 1932, exploring the details of key decisions and the motivations of those who made them.
The choices made in 1932 have helped shape the fundamental structure of U.S. estate and gift taxation for nearly eight decades, including our modern estate and gift tax code. This Article seeks to inform the current debate regarding the future of estate and gift taxes by drawing lessons from the events of 1932.
This Article is excerpted in significant part from a more comprehensive work: Ghosts of 1932: The Lost History of Estate and Gift Taxation (Florida Tax Review, Vol. 9, No. 10, 2010). Available at SSRN: http://ssrn.com/abstract=1438181.
Keywords: Estate Tax, Gift Tax, Tax History, Legal History, 1932, Ramseyer, Hoover, Tax Policy
JEL Classification: B25, H20, H21, H24, H60, H71, H77, K34
Suggested Citation: Suggested Citation