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Meanwhile, Cannadine observes, repeal of a 25 percent gift tax in 1926 (Mellon also halved the estate tax to 20 percent) “made it possible for Mellon himself to begin transferring his immense holdings to his children, and toward the end of the decade, he would begin to make such untaxed gifts in increasing amounts.”
- Simplified Text
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Repeal of 25 percent gift tax in 1926 made it possible for Andrew Mellon to transfer holdings to children.
- Confidence Score
- 0.800
- Claim Maker
- David Cannadine
- Context Type
- News Article
- Context Details
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{ "date": "1926", "person": "Andrew Mellon", "statistic": "25% gift tax repeal" } - UUID
- 9fdb424e-6415-42f7-ba90-cbefeffebc82
- Vector Index
- ✗ No vector
- Created
- September 12, 2025 at 1:29 AM (1 day ago)
- Last Updated
- September 12, 2025 at 1:29 AM (1 day ago)
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https://newrepublic.com/article/196176/trump-billionaires-america-wealth-inequality
This analysis examines the shift in American wealth inequality from the Great Compression to the Great Divergence, highlighting the role of policy changes and corporate influence.
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