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Inheritance Tax
Inheritance tax has been in the United States for a very long time. Before inheritance tax came to the United States, it was developed in Egypt and Rome. In the book,The Inheritance Tax, Max West states, "The origin of inheritance tax has usually been attributed to the Emperor Augustus, who is known to have established such a tax at Rome in the year 6 A.D." Max West summarizes the background of how inheritance tax was developed, and where it was developed at. This background information is very important to know because it shows that the United States was not the first area to have this taxing. There is a lot of history behind the making of inheritance taxation. In the Constitution of the Inheritance Tax it states, "By act of June 13, 1898, the Congress of the United States inheritance tax on legacies and inheritances of personal property." In this constitution, it explains the that there is inheritance tax in the United States, and that it has been around for a while.

The United States is just one of the countries that has inheritance taxes. There are two different types of taxes, estate and inheritance taxes. Both of these two types of taxes have to do with death. According to Alan Cole, "Both of these taxes are generally paired with some kind of gift tax so that they can not be avoided by simply transferring the property prior to death." Alan Cole made this comment about the article because he wants to inform the readers that most inheritance tax comes from death. The United States is one of the highest states for inheritance taxation. According to Alan Cole it states, "The United States has the fourth highest estate or inheritance tax rate in the OECD." Alan Cole explains that the United States is fourth in the highest inheritance tax in the world. Alan Cole also states, "As the United States maintains one of the highest estate taxes in the world, many countries are increasingly moving to eliminate this tax...Eleven countries and two tax jurisdictions have repealed their estate or inheritance taxes since the year 2000." Alan explains that a lot of countries are actually trying to get rid of their inheritance tax, and that could open up a lot of good things for the United States. According to Alan Cole, "Repeal of the U.S. estate tax would gradually increase the U.S. capital shock by 2.2 percent, boost GDP, create 139,000 jobs, and eventually increase federal revenue." Alan Cole talks about how the United States could have so many more benefits if they got rid of their inheritance taxes, and this would help the United States in so many different ways.