When Joel Slemrod of the University of Michigan won his Ig Nobel Award in 2001, part of the prize criteria was that the research involved "cannot, or should not, be reproduced". Luckily for Slemrod, that's since been changed to "first make people laugh, and then make them think".
See, Slemrod and partner Wojciech Kopczuk of Columbia University are the researchers who found evidence that the very rich die in greater numbers just before estate taxes are scheduled to increase—or just after the taxes have been reduced. Since he published, Australian and Swedish researchers have replicated his results. And now, he says, it appears the United States is about set up a grand natural experiment with elderly rich people as guinea pigs.
As of January 1 of this year, the U.S. estate tax has been abolished for the year 2010, and is scheduled to be reinstated in 2011 with rates as high as 55%. If our findings (and those of our colleagues in Australia and Sweden) are right, there some would be "moved" from the end of 2009 to the beginning of 2010, as some rich folks hold on to bequeath their assets tax-free. Of course, the really morbid stuff will happen at the end of this year, when dying in December of 2010 will incur no estate tax, but dying beginning in January 1, 2011 can trigger a tax liability equal to more than half the taxable estate. It's being called the "Throw Momma from the Train" tax provision.
New research on trends in adult human height over the last century confirm that, no surprise, humans are getting taller overall due to better nutrition and disease control. However according to the health science group Non-Communicable Diseases Risk Factor Collaboration (NCD-RisC), the gain in adult height varies dramatically by country. From their paper, published in […]
Between April and July, Iran’s salty Lake Urmia changed from a bright green color to a blood red. NASA’s Aqua satellite captured the image above and reported on the science behind the strange transformation. According to NASA, the periodic color change is caused by micro algae producing carotenoids that help with photosynthesis and act as […]
In the late 1960s and 1970s, the mind-expanding modus operandi of the counterculture spread into the realm of science, and shit got wonderfully weird. Neurophysiologist John Lilly tried to talk with dolphins. Physicist Peter Phillips launched a parapsychology lab at Washington University. Princeton physicist Gerard O’Neill became an evangelist for space colonies. Groovy Science: Knowledge, […]
It’s one thing to enjoy dinner at home and a nice glass of Cabernet Sauvignon with your best friend, Netflix, but it’s another thing entirely to make that meal from scratch and get that wine delivered right to your doorstep.But what if we told you there’s a way to make this possible? To keep your social life, […]
Having to pack and drag your stuff through security can put quite the damper on your vacation plans. Thankfully, we’ve got your back with one way to make traveling more painless: the Jumper Overnighter Travel Bag.This compact bag is so lightweight that you can effortlessly carry it, and fit it into any overhead compartment. But just […]
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