Law Commons^™

Should The United States Adopt Crs?, Noam Noked

Michigan Law Review Online

The United States' one-sided approach to tax transparency might lead to an unprecedented clash with the European Union (EU) in the near future. In light of the EU's deadline for the United States, the U.S. Treasury and Congress should urgently engage in a discussion on whether the United States should adopt the Common Reporting Standard (CRS) for automatic exchange of financial account information. A recent report from the U.S. Government Accountability Office considered this issue and did not recommend adopting CRS. This Essay discusses the contents of the report, as well as important considerations that were left out of the …

Rethinking Merger Efficiencies, Daniel A. Crane

Articles

The two leading merger systems-those of the United States and the European Union-treat the potential benefits and risks of mergers asymmetrically. Both systems require considerably greater proof of efficiencies than they do of potential harms if the efficiencies are to offset concerns over the accumulation or exercise of market power The implicit asymmetry principle has important systemic effects for merger control. It not only stands in the way of some socially desirable mergers but also may indirectly facilitate the clearance of some socially undesirable mergers. Neither system explicitly justifies this asymmetry, and none of the plausible justifications are normatively supportable. …

Competences Of The "Union" And Sex Equality: A Comparative Look At The European Union And The United States, Barbara Havelková

Michigan Law Review First Impressions

The delivery of substantive sex equality guarantees in the European Union and the United States is substantially affected by the division of powers ("competences" in European terminology) between the constituent units and the center. This Commentary compares the technical similarities and differences between the structures of competence of the federal systems of the United States and the European Union. This Commentary also briefly sketches their impact on substantive sex equality law.

The Three Goals Of Taxation, Reuven S. Avi-Yonah

Articles

The current debate in the United States about whether the income tax should be replaced with a consumption tax has been waged on the traditional grounds for evaluating tax policy: efficiency, equity, and administrability. For example, Joseph Bankman and David Weisbach recently argued for the superiority of an ideal consumption tax over an ideal income tax on three grounds: First, that the consumption tax is more efficient because it does not discriminate between current and future consumption,' while both income and consumption taxes have identical effect on work effort. Second, that the consumption tax is at least as good at …

A U.S. Perspective On The Ec Hormones Directive, Holly Hammonds

Michigan Journal of International Law

On December 31, 1985, the European Community ["EC"] adopted the "Council Directive Prohibiting the Use in Livestock Farming of Certain Substances Having a Hormonal Action" ("the Directive"). The directive, originally scheduled to take effect on January 1, 1988, prohibits the use of hormones, natural and synthetic, in livestock production and the sale of meat treated with hormones in the EC market. The United States believes that the directive violates the requirements of the Agreement on Technical Barriers to Trade ("Standards Code" or "Code").

The Hormone Conflict Between The Eec And The United States Within The Context Of Gatt, Werner P. Meng

Michigan Journal of International Law

For many years, consumer organizations within the European Community have demanded the prohibition of natural and synthetic hormones from use in animal fodder. Since the level of hormone use by breeders varies among Member States, demands for a hormone prohibition have also differed in intensity from State to State. After lengthy negotiations beset with legal difficulties, a general, community-wide prohibition became reality at the beginning of 1989. The price of this policy has been trade difficulties with the United States which, up to the present time,' have resulted in trade sanctions and economic losses on both sides. Since both parties …

The Ec Hormone Ban Dispute And The Application Of The Dispute Settlement Provisions Of The Standards Code, Allen Dick

Michigan Journal of International Law

As the concept of a unified European market becomes more of a reality as we approach 1992, talk of a "Fortress Europe" has heightened sensitivity on trade issues among officials of the United States and the European Community ("EC"). The EC's plan to ban the sale of meat treated with growth hormones within the Member-States has presented a trade issue disconcerting to both sides. This brewing tempest has raised many interesting legal issues involving the dispute settlement provisions set out in the Agreement on Technical Barriers to Trade ("Standards Code"). This note examines why the process failed to resolve, and …

Judicial Jurisdiction In The United States And In The European Communities: A Comparison, Friedrich Juenger

Michigan Law Review

Eric Stein deserves our gratitude for making European integration accessible to American students and teachers. He has taught and written widely on this important subject, and the casebook he published with Hay and Waelbroeck is a valuable aid for dispelling what a judge of the Communities' Court of Justice called "splendid mutual ignorance." Following Judge Pescatore's suggestion that it is time to take note of the experience gathered on both sides of the Atlantic, it seems worthwhile to compare the evolution of jurisdictional principles in the United States and in the Common Market.

The Supervision Of Corporate Management: A Comparison Of Developments In European Community And United States Law, Alfred F. Conard

Michigan Law Review

In 1971, Eric Stein published an account of the remarkable progress of the European Economic Community (EEC) toward a harmonized law of business corporations. The progress was particularly striking from an American viewpoint, because the harmonization was achieved by moving toward the more rigorous of the various national standards, in contrast to the "race of laxity" or "race for the bottom" that has characterized the movement toward uniformity in the corporation laws of U.S. states.

Comparative Conflict Resolution Procedures In Taxation: An Analytic Comparative Study, L. Hart Wright, Jean Van Houtte, Pierre Kerlan, Helmut Debatin, James Arthur Johnstone, H. Schuttevaer, Elizabeth G. Brown

Michigan Legal Studies Series

Tax administrators in well developed countries rarely have either occasion or opportunity to compare experiences or exchange opinions regarding procedures and practices utilized in administering complicated tax laws. Moreover, there is little comparative literature on the subject. Even the tax institutes which are internationally oriented usually focus on substantive tax principles, not procedures and practices. Hopefully, therefore, administrators in highly developed countries will find useful this analytic comparison of practices and procedures through which six of their number resolve disputable income tax questions -administratively and judicially.

Concern for tax administrators in well developed countries, however, was not the prime motivation …