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Full-Text Articles in Law and Politics
Examining Stock Trading Reforms For Congress Hearing Before The U.S. House Of Representatives Committee On House Administration, Donna M. Nagy
Examining Stock Trading Reforms For Congress Hearing Before The U.S. House Of Representatives Committee On House Administration, Donna M. Nagy
Public Testimony by Maurer Faculty
Professor Nagy testified (text attached, video below) in support of federal legislation that would prohibit members of Congress from owning the securities of individual publicly traded companies as well as certain other investments that would likely conflict with their official duties.
It was nearly 10 years ago to the day when President Barack Obama signed the Stop Trading on Congressional Knowledge (STOCK) Act, requiring enhanced financial disclosures and creating new securities transaction reporting rules for members of Congress, certain members of their family, and their staff. The Act also made absolutely clear that a member of Congress who trades securities …
Tax Now Or Tax Never: Political Optionality And The Case For Current-Assessment Tax Reform, David Gamage, John R. Brooks
Tax Now Or Tax Never: Political Optionality And The Case For Current-Assessment Tax Reform, David Gamage, John R. Brooks
Articles by Maurer Faculty
The U.S. income tax system is broken. Due to the realization doctrine and taxpayers’ consequent ability to defer taxation of gains, taxpayers can easily minimize or avoid the taxation of investment income, a failure that is magnified many times over when considering the ultra-wealthy. As a result, this small group of taxpayers commands an enormous share of national wealth yet pays paltry taxes relative to the economic income their wealth produces—a predicament that this Article condemns as being economically, politically, and socially harmful.
The conventional view among tax law experts has assumed that the problems created by the realization doctrine …