Jonathan Gruber lectures on taxing wealth rather than income, covering the estate tax and the gift tax as the two main US instruments for reaching accumulated assets. This is lecture 22 of MIT's 14.41, Public Finance and Public Policy, Fall 2024. Gruber walks through how the estate tax is structured, who actually owes it given exemption thresholds, and how the gift tax works alongside it to prevent easy avoidance through lifetime transfers. He addresses the standard economic arguments for and against taxing wealth, including effects on saving, work incentives for heirs, and revenue potential compared to income taxation, situating the discussion within broader debates about inequality and tax base design. The lecture uses MIT's standard classroom setup with blackboard work and runs 79 minutes as part of the semester-long public finance sequence.