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Full-Text Articles in Law
Tax Policy And Our Democracy, Clint Wallace
Tax Policy And Our Democracy, Clint Wallace
Faculty Publications
No abstract provided.
Centralized Review Of Tax Regulations, Clinton G. Wallace
Centralized Review Of Tax Regulations, Clinton G. Wallace
Faculty Publications
Centralized oversight of agency policymaking and spending by the President’s Office of Management and Budget is a hallmark of the modern administrative state. But tax regulations have almost never been subject to centralized review. The Trump administration recently proposed to require centralized review of tax regulations, but it is unclear what regulations would be subject to such review or how it would be conducted.
This Article examines the normative desirability of the longstanding approach of exempting tax regulations from centralized review, and the alternative of imposing such review. Scholars and policymakers have provided various incomplete justifications for excepting tax policy …
Taxing Systemic Risk, Eric D. Chason
Taxing Systemic Risk, Eric D. Chason
Faculty Publications
A tax on the harmful elements of finance—a tax on systemic risk—would raise revenue and also lower the likelihood of future crisis. Financial institutions, which pay the tax, would try to minimize its cost by lowering their systemic risk. In theory, a tax on systemic risk is perfect policy. In practice, however, this perfect policy is unattainable. Tax laws need clear definitions to be administrable. Our current understanding of systemic risk is too abstract and too metaphorical to serve as a target for taxation.
Despite the absence of a clear definition of systemic risk, academics and policy makers continue to …
Congressional Control Of Tax Rulemaking, Clint Wallace
Congressional Control Of Tax Rulemaking, Clint Wallace
Faculty Publications
The notice and comment process is often touted as a mechanism for establishing political accountability, and providing a check on agency decision-making. Based on a survey of three years of recently proposed tax regulations, this Article shows that many notice-and-comment processes for tax regulations have been ineffective for these purposes. Fully one-third of the time, no one participated. The few participants there are have been heavily weighted towards private interests, which commented on approximately two-thirds of all proposed regulations from 2013 through 2015. In contrast, public interest groups commented on less than 24% of proposed regulations. If the notice and …
Drawing The Line Between Taxes And Takings: The Continuous Burdens Principle, And Its Broader Application, Eric Kades
Drawing The Line Between Taxes And Takings: The Continuous Burdens Principle, And Its Broader Application, Eric Kades
Faculty Publications
No abstract provided.
Windfalls, Eric Kades