One of the Major Reasons for the Enactment of the Federal

question 198

True/False

One of the major reasons for the enactment of the Federal estate tax was to prevent large amounts of wealth from being accumulated within the family unit.

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Definitions:

Productive

Relating to the efficiency or rate at which goods or services are produced, often measured in terms of output per time period.

Profit

The financial benefit realized when income earned is greater than the expenses, taxes, and costs incurred in generating that income.

Donation

A present provided by individuals or organizations, usually for philanthropic reasons or to support a specific cause.