This article examines the distribution of wealth and theories justifying both the acquisition of great wealth and limitations on it. Discusses the estate tax, its economic effects and effectiveness in equalizing the distribution of wealth. Concludes that it has been very ineffective and that...

I study bequest and wealth accumulation behavior of the wealthy (subject to the estate tax) shortly before death. The onset of a terminal illness leads to a very significant reduction in the value of estates reported on tax returns - 15 to 20% with illness lasting quot;months to yearsquot; and...

We study the effect of bequests and their taxation on wealth inequality. We allow for random death and birth in a continuous-time, dynastic framework. Individuals behave optimally and accumulate wealth over their lifetime. Bequests above a tax exemption threshold are taxed according to a fixed...