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.
University of Zurich researchers used transcranial magnetic stimulation, a noninvasive method of inhibiting activity in parts of the brain, to “turn off” people’s ability to control their impulses. They focused on the temporoparietal junction, an area of the brain thought to play an important role in moral decisions, empathy, and other social interactions. They hope […]
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In Rich do not rise early: spatio-temporal patterns in the mobility networks of different socio-economic classes, a group of transportation engineers analyze an open data-set about the commutes of people in the Colombian cities of Medellín and Manizales, concluding that the rich and the poor commute the furthest distances, but that the rich have much […]
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The Atmos R2 may be bigger than the brand’s previously-released vapes, but we argue that in this case it’s definitely a good thing. A bigger heating chamber means more room for packing it full. And the bigger battery means longer, more fulfilling vape sessions. In fact, you can use the Atmos R2 for up to about 25 […]
These days, there is huge demand for ethical hackers. Companies pay these professionals to identify and remedy security holes in their networks before malicious hackers find and exploit them. What’s great about this is that if you love hacking or think you may love hacking, you can do it for a living and not as […]