From a student:

Good day Professor, Can you please share the reason people have to pay tax on monetary gifts? It does not make sense to me when that money has already been taxed. Thank you in advance. Regards, Stephanie Pedi

To help Stephanie and the rest of the class gain a better understanding of the arguments in favor and against estate and gift taxes, I attach Lazzo (no date), which I ask you to read.

1. Please answer Stephanies question in about 50 words (of your own; not copied and pasted)

2. Present a 50-word argument why estates and gifts should not be taxed.

3. Which argument, 1 or 2, appeals more to you and why? You may provide additional sources (please cite, reference and attach PDFs) or share your own perspective borne out of personal experience.

4. References (you may add your own):

Lazzo, Jake (no date; accessed January 17, 2021). The Ethics of Taxation Trilogy: Part I An Ethical Analysis of Inheritance Tax. Seven Pillars Institute. https://sevenpillarsinstitute.org/an-ethical-analysis-of-inheritance-tax/