Gokhale, Jagadeesh; Kotlikoff, Laurence J. - Federal Reserve Bank of Cleveland - 1999
Security. By differentially disenfranchising the children of the poor from receipt of inheritances, Social Security may … materially alter the distribution of wealth. This paper uses data from the PSID to further analyze how Social Security and other … annuitization will reduce bequests, especially for lower and middle-income households, whose entire earnings are taxed under Social …