William Gale, co-directorf of the Urban-Brookings Tax Policy Center and University of California-Berkeley Professor Alan Auerbach argued in a paper published Thursday that much more deficit reduction was needed than enacted in agreements so far.
Inheritance tax is undoubtedly unpopular but it deters saving less than most other taxes on capital accumulation, as Alan Auerbach, an economist at the University of California, Berkeley, pointed out in a recent lecture in London.