Moretti, Enrico
Taxing billionaires estate taxes and the geographical location of the ultra-wealthy /by Enrico Moretti and Daniel J. Wilson
Resumen.
Bibliografía.
We contribute to the literature on the effect of taxes on the locational choices of wealthy individuals by examining the geographical sensitivity of the Forbes 400 richest Americans to state estate taxes. Though we find billionaires' effective tax rates are only about half the statutory rate, their residential choices are highly sensitive to these taxes, as 35 percent of local billionaires leave states with an estate tax. This tax-induced mobility causes a large reduction in the aggregate tax base. Nonetheless, we find that the revenue benefit of an estate tax exceeds the cost for the vast majority of states.
IMPUESTO SOBRE EL PATRIMONIO
IMPUESTO SOBRE SUCESIONES Y DONACIONES
RENTAS ALTAS
LOCALIZACION
PLANIFICACION FISCAL
ESTADOS UNIDOS
Wilson, Daniel J.
American Economic Journal : Economic Policy 1945-7731 v. 51, n. 2, May 2023, p. 424-466
Taxing billionaires estate taxes and the geographical location of the ultra-wealthy /by Enrico Moretti and Daniel J. Wilson
Resumen.
Bibliografía.
We contribute to the literature on the effect of taxes on the locational choices of wealthy individuals by examining the geographical sensitivity of the Forbes 400 richest Americans to state estate taxes. Though we find billionaires' effective tax rates are only about half the statutory rate, their residential choices are highly sensitive to these taxes, as 35 percent of local billionaires leave states with an estate tax. This tax-induced mobility causes a large reduction in the aggregate tax base. Nonetheless, we find that the revenue benefit of an estate tax exceeds the cost for the vast majority of states.
IMPUESTO SOBRE EL PATRIMONIO
IMPUESTO SOBRE SUCESIONES Y DONACIONES
RENTAS ALTAS
LOCALIZACION
PLANIFICACION FISCAL
ESTADOS UNIDOS
Wilson, Daniel J.
American Economic Journal : Economic Policy 1945-7731 v. 51, n. 2, May 2023, p. 424-466