It is if you're a guard at Shawshank Prison in 1951. :D
Generally, gifts to your spouse aren't taxable, but when this money leaves it's sheltered status, the taxman will want his pound of flesh. I think you can give a gift penalty free from an IRA for tuition and home purchases, but you'll still pay income tax. There are also lots of restrictions, depending on your age, and who is the recipient.
