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  • Originally published 03/25/2013

    Kenneth F. Scheve Jr. and David Stasavage: Is the Estate Tax Doomed?

    Kenneth F. Scheve Jr. is a professor of political science at Stanford University. David Stasavage, a professor of politics at New York University, is the author of “States of Credit: Size, Power, and the Development of European Polities.Under the deal struck by President Obama and Congress to avert the “fiscal cliff,” the estate tax — long targeted for elimination by Republicans — survived, but in a substantially diminished form.In 2001, the year George W. Bush became president, individual estates over $675,000 were taxed and the top rate was 55 percent. Now, the maximum tax is 40 percent and only individual estates worth more than $5.25 million are taxed (a figure that will now be automatically adjusted for inflation).

  • Originally published 06/06/2014

    Remember the War Revenue Act of 1898!

    The federal revenue situation of the late 19th century United States presents a somewhat case study in constitutional political economy, owing to a fairly restrictive constitutional restraint on the means of raising revenue for the federal government. The U.S. Constitution provided Congress with the “Power To lay and collect Taxes, Duties, Imposts and Excises” as its primary means of taxation, yet it also provided that “No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or Enumeration herein before directed to be taken.”

  • Originally published 06/06/2014

    Remember the War Revenue Act of 1898!

    The federal revenue situation of the late 19th century United States presents a somewhat case study in constitutional political economy, owing to a fairly restrictive constitutional restraint on the means of raising revenue for the federal government. The U.S. Constitution provided Congress with the “Power To lay and collect Taxes, Duties, Imposts and Excises” as its primary means of taxation, yet it also provided that “No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or Enumeration herein before directed to be taken.”

  • Originally published 06/06/2014

    Remember the War Revenue Act of 1898!

    The federal revenue situation of the late 19th century United States presents a somewhat case study in constitutional political economy, owing to a fairly restrictive constitutional restraint on the means of raising revenue for the federal government. The U.S. Constitution provided Congress with the “Power To lay and collect Taxes, Duties, Imposts and Excises” as its primary means of taxation, yet it also provided that “No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or Enumeration herein before directed to be taken.”

  • Originally published 06/06/2014

    Remember the War Revenue Act of 1898!

    The federal revenue situation of the late 19th century United States presents a somewhat case study in constitutional political economy, owing to a fairly restrictive constitutional restraint on the means of raising revenue for the federal government. The U.S. Constitution provided Congress with the “Power To lay and collect Taxes, Duties, Imposts and Excises” as its primary means of taxation, yet it also provided that “No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or Enumeration herein before directed to be taken.”

  • Originally published 06/06/2014

    Remember the War Revenue Act of 1898!

    The federal revenue situation of the late 19th century United States presents a somewhat case study in constitutional political economy, owing to a fairly restrictive constitutional restraint on the means of raising revenue for the federal government. The U.S. Constitution provided Congress with the “Power To lay and collect Taxes, Duties, Imposts and Excises” as its primary means of taxation, yet it also provided that “No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or Enumeration herein before directed to be taken.”