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Full-Text Articles in Tax Law
The Tcja And The Questionable Incentive To Incorporate, Part 2, Michael S. Knoll
The Tcja And The Questionable Incentive To Incorporate, Part 2, Michael S. Knoll
All Faculty Scholarship
The Tax Cuts and Jobs Act (TCJA) has put the question should a business be organized as a passthrough entity or as a corporation at center stage. The TCJA eliminated much of the tax disadvantage from using the corporate form, but did Congress go so far that it advantaged corporations relative to pass-through entities? Some prominent commentators say yes. They argue that the federal income tax now encourages individual owners of pass-through businesses to restructure their business as subchapter C corporations, and they predict that the TCJA will lead to a cascade of incorporations. The principal driver of the shift …
The Tcja And The Questionable Incentive To Incorporate, Michael S. Knoll
The Tcja And The Questionable Incentive To Incorporate, Michael S. Knoll
All Faculty Scholarship
The Tax Cuts and Jobs Act (TCJA) has put the question should a business be organized as a passthrough entity or as a corporation at center stage. The TCJA eliminated much of the tax disadvantage from using the corporate form, but did Congress go so far that it advantaged corporations relative to pass-through entities? Some prominent commentators say yes. They argue that the federal income tax now encourages individual owners of pass-through businesses to restructure their business as subchapter C corporations, and they predict that the TCJA will lead to a cascade of incorporations. The principal driver of the shift …
The Death Of The Income Tax: A Progressive Consumption Tax And The Path To Fiscal Reform, Daniel Goldberg
The Death Of The Income Tax: A Progressive Consumption Tax And The Path To Fiscal Reform, Daniel Goldberg
Daniel S. Goldberg
The Death of the Income Tax explains how the current income tax is needlessly complex, contains perverse incentives against saving and investment, fails to use modern technology to ease compliance and collection burdens, and is subject to micromanaging and mismanaging by Congress. Daniel Goldberg proposes that the solution to the problems of the current income tax is completely replacing it with a progressive consumption tax collected electronically at the point of sale.