George Sutherland

“ Under the statute the death of decedent is the event in respect of which the tax is laid. It is the existence of the joint tenancy at that time, and not its creation at the earlier date, which furnishes the basis for the tax. By the judgment under review, only half of the value, that is to say, the value of decedent's interest, has been included, leaving the survivor's interest unaffected. After the creation of the joint tenancy, and until his death, decedent retained his interest in, and control over, half of the property. ”

“ The Circuit Court of Appeals affirmed. Commissioner of Internal Revenue v. Emery, 62 F. (2d) 591.
Whether this application of the statute gives it a retroactive effect is the sole question here involved; and with that we find no difficulty. ”