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dc.contributor.authorPareja, Sergio
dc.date.accessioned2009-01-29T19:57:36Z
dc.date.available2009-01-29T19:57:36Z
dc.date.issued2008
dc.identifier.citation2008 Wis. L. Rev. 841en_US
dc.identifier.urihttp://hdl.handle.net/1928/7650
dc.description.abstractThis Article proposes a novel way to tax wealth transfers. Specifically, it suggests that we divide all assets transferred by gift or bequest into two classes--illiquid assets and liquid assets. The recipient should include those assets in income but be allowed two options. With respect to illiquid assets, the recipient should be able to avoid immediate income inclusion if he takes the property with an income-tax basis of zero. With respect to liquid assets, the recipient should be allowed a full income-tax deduction if he rolls the gift or bequest into a deductible IRA. The combination of these simple rules would be much more equitable than our current system, and it would prevent people from having to sell illiquid assets to pay taxes.en_US
dc.language.isoen_USen_US
dc.publisherLaw School of the University of Wisconsinen_US
dc.titleTaxation Without Liquidation: Rethinking "Ability to Pay"en_US
dc.typeArticleen_US


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