« Don't get so worked up about the Fed | Main | What is going on with the UC Regents?!!!! »
The best sentence I read Friday morning
Twelve-year-old Andrew Reed says he never felt any pressure from his parents to collect art.
That is from The Wall Street Journal, much of the article concerns how to minimize estate tax liabilities. It is titled "Small Collectors."
Posted by Tyler Cowen on September 15, 2007 at 08:45 PM in The Arts | Permalink
Comments
Can you say deadweight loss?
It is sad how so many people fool themselves into believing that the death tax isn't economically destructive or avoidable. I can't help but wonder how many job creating entrepreneurs or would-be entrepreneurs wind up collecting art as a tax shelter against the death tax instead of creating new wealth. As a result there is less productive investment by our best and brightest job creators, with negative results for everyone, not to mention lesser tax revenues resulting from smaller businesses, fewer employee taxes, and lower paid employees (due to less demand for them bidding up their wages) than otherwise would have been the case.
Posted by: happyjuggler0 at Sep 16, 2007 12:45:10 PM
Unfortunately, political debate about the estate tax is muddled by budgeting implications. The estate tax repeal was pushed by an administration that was correctly perceived as promoting the interest of super wealthy constituents at the expense of fiscal responsibility and fairness. If the estate tax were offered in a revenue neutral way that didn't significantly alter the burden of taxation across income levels, then I think it would receive much less opposition. With the budgetary and equity considerations out of consideration, the wastefulness of the estate tax would become much more salient.
Posted by: nelziq at Sep 16, 2007 3:57:04 PM
hi,I University majoring in the legal profession.After graduation,I 徵信 the work of the strong interest.Has worked in several徵信社.Has a wealth of experience. Now I immigrants France,Hope to continue to engage in the work of徵信 credit.
now,is to wake up every day to drink 咖啡, shopping. I hope that early awareness of Boles.
thanks,thank very much.
Posted by: Bob at Mar 13, 2008 10:28:12 PM
