The New Palgrave Dictionary of Economics

Living Edition
| Editors: Palgrave Macmillan

Inheritance Taxes

  • Joseph A. Pechman
Living reference work entry
DOI: https://doi.org/10.1057/978-1-349-95121-5_980-1
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Abstract

Taxes on property left by individuals to their heirs are among the oldest forms of taxation. In societies in which property is privately owned, the state protects the property rights of the individual and supervises the transfer from one generation to the next. Consequently, the state has always regarded property transfers as appropriate objects of taxation. However, taxes on bequests and gifts raise very little revenue in modern tax systems.

Keywords

Classical Tradition Wealth Transfer Wealthy People Wealth Class Final Gift 
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Bibliography

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Copyright information

© The Author(s) 1987

Authors and Affiliations

  • Joseph A. Pechman
    • 1
  1. 1.