Yang introduced a new system of taxation into China that helped reduce the power of the aristocratic classes and eliminate their large tax-free estates.
By mid-century the growth of privately owned, tax-free estates had shrunk the tax base, and this, coupled with the extraordinary demands for expansion, temple building, and icon manufacture, placed great strain on the general population.
It now became easier to calculate the amount of taxable public land (kōden) in each province, but entrusting so much authority to governors opened the gates for further abuse, especially the possibilities of increasing the amount of lands held in tax-free estates.
When the second spouse dies, what's left in the trust goes to the kids free of estate taxes, bypassing the second spouse's estate.
Now, how can that be, since each individual can leave $3.5 million free of estate tax?
"In the U.S. we have $11 million that we can pass on free of estate taxes," she said.
Charter schools in New York City have flourished over the past decade, attracting donations from Wall Street, praise from leaders in business and government, and free real estate from the city.
"Gifts out of normal expenditure," meaning anything left from taxable income after ordinary costs are covered, can be made free of estate tax liability.
On its face, that doesn't seem so bad, because the husband can usually leave an unlimited amount of money to his wife free of estate taxes.
