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The U.S. has two kinds of so-called death taxes: the estate tax, which is levied by the federal government and certain states, and the inheritance tax, which is levied by a number of other states ...
Death and taxes" is a phrase commonly referencing a famous quotation written by American statesman Benjamin Franklin: Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes .
This is the list of countries by inheritance tax rates. Inheritance tax or estate tax is the tax levied upon the wealth of a person at the time of their death before it is passed on to their heirs. [1] [2] [3]
Redistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. [1]
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The term "death tax" more directly refers back to the original use of "death duties" to address the fact that death itself triggers the tax or the transfer of assets on which the tax is assessed. While the use of terms like "death duty" had been known earlier, specifically calling estate tax the "death tax" was a move that entered mainstream ...
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