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Lädt ... Death by a Thousand Cuts: The Fight over Taxing Inherited Wealthvon Michael J. Graetz
   Keine Keine aktuelle Diskussion zu diesem Buch. 2   cushlareads | Dec 28, 2010 |  keine Rezensionen | Rezension hinzufügen
Auszeichnungen
This fast-paced book by Yale professors Michael Graetz and Ian Shapiro unravels the following mystery: How is it that the estate tax, which has been on the books continuously since 1916 and is paid by only the wealthiest two percent of Americans, was repealed in 2001 with broad bipartisan support? The mystery is all the more striking because the repeal was not done in the dead of night, like a congressional pay raise. It came at the end of a multiyear populist campaign launched by a few individuals, and was heralded by its supporters as a signal achievement for Americans who are committed to the work ethic and the American Dream. Graetz and Shapiro conducted wide-ranging interviews with the relevant players: members of congress, senators, staffers from the key committees and the Bush White House, civil servants, think tank and interest group representatives, and many others. The result is a unique portrait of American politics as viewed through the lens of the death tax repeal saga. Graetz and Shapiro brilliantly illuminate the repeal campaign's many fascinating and unexpected turns--particularly the odd end result whereby the repeal is slated to self-destruct a decade after its passage. They show that the stakes in this fight are exceedingly high; the very survival of the long standing American consensus on progressive taxation is being threatened. Graetz and Shapiro's rich narrative reads more like a political drama than a conventional work of scholarship. Yet every page is suffused by their intimate knowledge of the history of the tax code, the transformation of American conservatism over the past three decades, and the wider political implications of battles over tax policy. Keine Bibliotheksbeschreibungen gefunden. |
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 Google Books — Lädt ...GenresMelvil Decimal System (DDC)336.2760973Social sciences Economics Public Finance & Taxation Taxation Excise, licenses, special taxesKlassifikation der Library of Congress [LCC] (USA)BewertungDurchschnitt: (4)
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I've given it 5 stars, because I got so much out of it and couldn't put it down (and had to keep reading bits out to my husband). For some people though it'd be a 1 or 2 star book, because it displays its biases so openly - the authors are firmly opposed to the repeal of the estate tax.
I don't know what the LT recommender will say on this book, but here's my quiz to see if you will like it:
1. Do your friends think you are obssessed with US politics?
2. Do you find yourself reading articles about the Tea Party when you could be doing housework?
3. Do you look forward to Friday morning because the latest Slate Political Gabfest podcast will be out?
(If you answered "what's that?", you will probably still like this book. If you answered "Isn't Slate that leftie current events website?" then you might want to skip this book.)
4. When you followed the US healthcare debate, did you wonder exactly how the reconciliation process worked?
It was written in 2005, 4 years after Bush's tax cut bill was passed. I'd love to see an updated epilogue to see what they think of the latest tax cuts deal finalised last week. What is most fascinating about the move for total repeal of the estate tax is that many of the supporters of full repeal would have been better off accepting a deal from the Democrats to increase the level at which the estate tax kicks in (used to be 55% of the estate for estates worth over US$600,000), reducing the level, and some exemptions, rather than waiting 10 years to get complete repeal.
The first half of the book discusses how the coalition to get the estate tax repealed got started. The second half starts when Bush gets elected as President and repeal makes it onto Congress's list of priorities. There is tons in here about US politics in the 90s and names you've forgotten about - Gingrich, Bob Packwood, Jim Jeffords, Bill Frist - and some that are still around (e.g. Max Baucus). There's also a lot about the role of think tanks (lots on Heritage Foundation and the Cato Institute), the importance of labelling (the tax was called the death tax, and this had an impact early on in warping people's perceptions about who would be eligible). (