1. The gift tax is supposed to tax the transfer of wealth from one taxpayer to another. However, the

1. The gift tax is supposed to tax the transfer of wealth
from one taxpayer to another. However, the payment of gift tax on a transfer of
property is relatively rare. Why is gift tax not paid on most gifts?

2. The estate tax is a tax on the value of property
transferred at death. Why is payment of the estate tax not a common event?