Inheritance Taxes and Tax Reforms in an Aging Japan
This chapter incorporates an inheritance tax into the simulation model employed in Chaps. 3 and 4. The inheritance tax adopted here is assumed to arise from the unintended bequests consistent with uncertainty regarding the length of individual life. The problem of choosing a tax base is discussed once again in this chapter. In addition to the three taxes mentioned in Chap. 3, it includes an inheritance tax, and thus examines the effect of the four tax regimes on capital formation. It also seeks an optimum combination of tax schemes, when a progressive expenditure tax is adopted as the nucleus tax.
KeywordsLabor Income Public Pension Income Class Interest Income Bequest Motive
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