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.
Designer Art Donovan writes, “I’m always looking for new and unique inspiration for my lighting commissions and the latest, cutting edge scientific devices offer a boatload of great design inspiration. From the cool, new ‘James Webb Space Telescope’ to the myriad of complex details in the L.H.P.C. at Cern- it’s a cornucopia of rich imagery.”
In 2009, President Obama pledged to “restore science to its rightful place.” He said, “We will not just meet, but we will exceed the level achieved at the height of the space race, through policies that invest in basic and applied research, create new incentives for private innovation, promote breakthroughs in energy and medicine, and […]
It’s hard to fund space exploration research — the commercial applications are speculative and far-off — but there’s never been a better time to study super-efficient, closed-loop botany of the sort that will someday accompany human interplanetary missions, thanks to the need to develop better grow-ops for the burgeoning legal weed market in Canada.
Some people say magic tricks are nerdy and best left to your 12-year-old asthmatic cousin. But others see value in perfecting the slight of hand and showmanship associated with a perfectly executed routine. We’re firmly in the latter camp. And now, we’re giving you the ability to put a few parlor tricks up your sleeve with the Penguin […]
Bluetooth speakers may be convenient to use, but many of them just aren’t that powerful. Sure, it may be fine if you’re seated in front of the speaker. But move across the room, and you may strain to hear what’s coming from those tiny drivers.There’s a reason why the G-BOOM Wireless Bluetooth Boombox (now $79.99 in the Boing […]
If you’re working to build your web programming knowledge, you know you have a lot of ground to cover. With literally dozens of languages, platforms and environments available to coders, mastering all those technologies can be a daunting task.Up-and-coming coders can start learning some of the most fundamental programming study areas with this Web Hacker course bundle – and […]