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The Right Tax At The Right Time, Edward D. Kleinbard 2016 University of Southern California

The Right Tax At The Right Time, Edward D. Kleinbard

University of Southern California Legal Studies Working Paper Series

The companion paper to this (Capital Taxation in an Age of Inequality) argues that a moderate flat-rate (proportional) income tax on capital imposed and collected annually has attractive theoretical and political economy properties that can be harnessed in actual tax instrument design. This paper continues the analysis by specifying in detail how such a tax might be designed.

The idea of the Dual Business Enterprise Income Tax, or Dual BEIT, is to offer business enterprises a neutral profits tax environment in which to operate, in which normal returns to capital are exempt from tax by means of an annual capital ...


Giving Credit Where Credit Is Due: Reducing Inequality With A Progressive State Tax Credit, Eric Kades 2016 William & Mary Law School

Giving Credit Where Credit Is Due: Reducing Inequality With A Progressive State Tax Credit, Eric Kades

Faculty Publications

No abstract provided.


Show Me The Money: The Ceo Pay Ratio Disclosure Rule And The Quest For Effective Executive Compensation Reform, Biagio Marino 2016 Fordham University School of Law

Show Me The Money: The Ceo Pay Ratio Disclosure Rule And The Quest For Effective Executive Compensation Reform, Biagio Marino

Fordham Law Review

This Note discusses past attempts to combat growing levels of executive compensation, analyzes the role of both shareholders and directors in the compensation-setting process, and discusses conflicting views concerning shareholder-director power, the disclosure mechanism, and the pay-ratio metric. Finally, this Note balances these views by proposing alterations to the CEO Pay Ratio Disclosure Rule that preserve the long-standing corporate structure, while also offering shareholders an accountability mechanism to enhance the Rule’s intended results.


Country By Country Reporting And Corporate Privacy: Some Unanswered Questions, Reuven S. Avi-Yonah 2016 University of Michigan Law School

Country By Country Reporting And Corporate Privacy: Some Unanswered Questions, Reuven S. Avi-Yonah

Articles

Corporate privacy is an oxymoron. Individuals have a right to privacy, which the Supreme Court has recognized at least since Griswold v. Connecticut (1965). Warren and Brandeis’ famous defense of the right to privacy (1890) clearly applied only to individuals, because only individuals have the kind of feelings that are affected by invasions of privacy. Corporations are legal entities, and the concept of privacy does not apply to them, as the Supreme Court held in 1906. Thus, any objection to making corporate tax returns public cannot rest on the right to privacy. In fact, corporate returns were made public in ...


Taxation – Selection Of Exchange Rate For Translation Purposes -- Where Multiple Exchange Rates Exist For A Foreign Currency And The Underlying Transaction Is Financial In Nature, The Proper Rate For Translation Components Of Taxable Income Is The "Free" Market Rate (Durovic V. Commissioner Of Internal Revenue, 7th Cir. 1976), Tim J. Floyd 2016 University of Georgia School of Law

Taxation – Selection Of Exchange Rate For Translation Purposes -- Where Multiple Exchange Rates Exist For A Foreign Currency And The Underlying Transaction Is Financial In Nature, The Proper Rate For Translation Components Of Taxable Income Is The "Free" Market Rate (Durovic V. Commissioner Of Internal Revenue, 7th Cir. 1976), Tim J. Floyd

Georgia Journal of International & Comparative Law

No abstract provided.


Why Tax Wealth Transfers?: A Philosophical Analysis, Jennifer Bird-Pollan 2016 University of Kentucky College of Law

Why Tax Wealth Transfers?: A Philosophical Analysis, Jennifer Bird-Pollan

Jennifer Bird-Pollan

The one-hundredth anniversary of the estate tax provides an ideal moment to reflect on the role of wealth transfer taxation in the larger scheme of the U.S. tax system. Wealth and income inequality are at historically high levels, and the responses to these issues are often reduced to a simplistic political dichotomy of “right” versus “left.” The multitude of views of the American people cannot be reduced to such simple generalities without losing important nuances. This Article identifies three general categories of political philosophical viewpoints that are commonly endorsed by both politicians and everyday Americans, and then examines the ...


The "Estate Planning" Interviewer, Thomas L. Shaffer 2016 Notre Dame Law School

The "Estate Planning" Interviewer, Thomas L. Shaffer

Thomas L. Shaffer

Professor Shaffer's article The "Estate Planning" Interviewer is the Introduction: Part II, in J.K. Lasser's Estate Tax Techniques on pages INT-25 to INT-51


Beyond Polemics: Poverty, Taxes, And Noncompliance, Michelle Lyon Drumbl 2016 Washington and Lee University School of Law

Beyond Polemics: Poverty, Taxes, And Noncompliance, Michelle Lyon Drumbl

Faculty Scholarship

The earned income tax credit (EITC) is perhaps the most significant refundable credit in the U.S. tax system. Designed as an anti-poverty program, it is a social benefit administered by the Internal Revenue Service (IRS). Studies show it has a positive impact upon the children whose families receive it. Despite its many positives, however, the EITC is a program that for years has been plagued by taxpayer noncompliance. Though it is believed that the majority of EITC noncompliance may be unintentional, public reports of misconduct and fraud hurt the program’s image and fuel political rhetoric.

This article unpacks ...


Taxing Wealth Seriously, Edward J. McCaffery 2016 University of Southern California;California Institute of Tecnology

Taxing Wealth Seriously, Edward J. Mccaffery

University of Southern California Legal Studies Working Paper Series

The social and political problems of wealth inequality in America are severe and getting worse. A surprise is that the U.S. tax system, as is, is a significant cause of these problems, not a cure for them. The tax-law doctrines that allow those who already have financial wealth to live, luxuriously and tax-free, or to pass on their wealth tax-free to heirs, are simple. The applicable legal doctrines have been in place for nearly a century under the income tax, the primary social tool for addressing matters of economic inequality. The analytic pathways to reform are easy to see ...


The Mapmaker’S Dilemma In Evaluating High-End Inequality, Daniel Shaviro 2016 University of Miami Law School

The Mapmaker’S Dilemma In Evaluating High-End Inequality, Daniel Shaviro

University of Miami Law Review

The last thirty years have witnessed rising income and wealth concentration among the top 0.1% of the population, leading to intense political debate regarding how, if at all, policymakers should respond. Often, this debate emphasizes the tools of public economics, and in particular optimal income taxation. However, while these tools can help us in evaluating the issues raised by high-end inequality, their extreme reductionism—which, in other settings, often offers significant analytic payoffs—here proves to have serious drawbacks. This Article addresses what we do and don’t learn from the optimal income tax literature regarding high-end inequality, and ...


Diligence Du Banquier En Matière D’Investissement Et Droit De Rétention Sur Les Avoirs Du Client_Version Partielle.Pdf, Fabien LIEGEOIS 2016 University of Geneva

Diligence Du Banquier En Matière D’Investissement Et Droit De Rétention Sur Les Avoirs Du Client_Version Partielle.Pdf, Fabien Liegeois

Fabien LIEGEOIS

La relation juridique entre le client et sa banque est dite "complexe", car elle implique la conclusion de plusieurs contrats. La pratique bancaire distingue en outre trois contrats caractéristiques de la situation d'investissement (ou de placement). Nous argumentons dans cette contribution que les devoirs de diligence du banquier fonctionnent sur le principe de la gradation. Cette logique se dégage de la jurisprudence du Tribunal fédéral.

La diligence requise est en effet fonction de l'implication du banquier dans les affaires patrimoniales du client. Sur cette échelle, le contrat de dépôt (Execution Only; blosse Konto-/Depot-Beziehung) se situe en bas ...


Realigning The Governmental/Proprietary Distinction In Municipal Law, Hugh D. Spitzer 2016 Seattle University School of Law

Realigning The Governmental/Proprietary Distinction In Municipal Law, Hugh D. Spitzer

Seattle University Law Review

Lawyers and judges who deal with municipal law are perpetually puzzled by the distinction between “governmental” and “proprietary” powers of local governments. The distinction is murky, inconsistent between jurisdictions, inconsistent within jurisdictions, and of limited use in predicting how courts will rule. Critics have launched convincing attacks on the division of municipal powers into these two categories. Most articles have focused on problems with the distinction in specific areas of municipal law. In contrast, this article provides a comprehensive analysis of the governmental/proprietary distinction in seven specific doctrinal areas: legislative grants of municipal authority, government contracts, torts, eminent domain ...


"Trade Or Business": The Relevance Of A Deceptively Simple Income Tax Phrase To The Labor Code, Federal Statutes, And Private Equity Activity, Arthur Acevedo 2016 Selected Works

"Trade Or Business": The Relevance Of A Deceptively Simple Income Tax Phrase To The Labor Code, Federal Statutes, And Private Equity Activity, Arthur Acevedo

Arthur Acevedo

Corporate law is premised upon two fundamental principles: the pooling of moneys for investment purposes and the privilege of limited liability. The pooling of money enables promoters and investors to efficiently amass and organize substantial sums for investment purposes. The privilege of limited liability assures investors that personal liability for the underlying invested activity is limited to the moneys invested. Limited liability is a sacrosanct principle and a quintessential investment assumption within the investment community. Private equity firms have successfully exploited these two policies. However, a decision by the First Circuit Court of Appeal casts a shadow of doubt on ...


Regulating Charities In The Twenty-First Century: An Institutional Choice Analysis, Lloyd Hitoshi Mayer, Brendan M. Wilson 2016 Notre Dame Law School

Regulating Charities In The Twenty-First Century: An Institutional Choice Analysis, Lloyd Hitoshi Mayer, Brendan M. Wilson

Lloyd Hitoshi Mayer

For more than fifty years scholars, practitioners, and government officials have debated whether the federal government, the state governments, or the charitable sector itself can best ensure that charity leaders fulfill their fiduciary duties. The dramatic growth of this sector, recent highly publicized governance scandals, and a push in Congress and the IRS for more federal involvement in this area have now brought this issue to a head. This article lays a foundation for resolving the dispute by developing an institutional choice framework for considering and comparing the various available options. Applying that framework, the article concludes that the best ...


The "Independent" Sector: Fee-For-Service Charity And The Limits Of Autonomy, Lloyd Hitoshi Mayer 2016 Notre Dame Law School

The "Independent" Sector: Fee-For-Service Charity And The Limits Of Autonomy, Lloyd Hitoshi Mayer

Lloyd Hitoshi Mayer

Although numerous scholars have attempted to explain and justify the benefits provided to charities, none has been completely successful. Their theories share, however, two required characteristics for charities. First, charities must be distinct from other types of entities in society, including governmental bodies, businesses, other types of nonprofit organizations, and informal entities such as families. Second, charities must provide some form of public benefit. Given these defining characteristics, the principal role for the laws governing charities is to protect charities from influences that could potentially undermine these traits. This Article is the first to recognize fully the importance of this ...


Grasping Smoke: Enforcing The Ban On Political Activity By Charities, Lloyd Histoshi Mayer 2016 Notre Dame Law School

Grasping Smoke: Enforcing The Ban On Political Activity By Charities, Lloyd Histoshi Mayer

Lloyd Hitoshi Mayer

The rule that charities are not allowed to intervene in political campaigns has now been in place for over fifty years. Despite uncertainty about the exact reasons for Congress' enactment of it, skepticism by some about its validity for both constitutional and public policy reasons, and continued confusion about its exact parameters, this rule has survived virtually unchanged for all of those years. Yet while overall noncompliance with the income tax laws has drawn significant scholarly attention, few scholars have focused on violations of this prohibition and the IRS' attempts to enforce it.

This Article focuses on the elusive issue ...


Nfib V. Sebelius And The Transformation Of The Taxing Power, Barry Cushman 2016 Notre Dame Law School

Nfib V. Sebelius And The Transformation Of The Taxing Power, Barry Cushman

Barry Cushman

In National Federation of Independent Business v. Sebelius, Chief Justice Roberts wrote for a majority of five Justices in holding that the “shared responsibility payment” required by the Patient Protection and Affordable Care Act (“ACA”) constituted an imposition of a “tax” rather than a “penalty.” Thus, even though the Chief Justice and four other Justices had concluded that the provision was not a legitimate exercise of the commerce power, the Court held that it was a valid exercise of the taxing power. The origin of the distinction between taxes and penalties in taxing power jurisprudence is found in the 1922 ...


Confidence Schemes: Theft Loss Deductions, Restitution, And Public Policy, Steven F. Friedell 2016 St. John's University School of Law

Confidence Schemes: Theft Loss Deductions, Restitution, And Public Policy, Steven F. Friedell

St. John's Law Review

No abstract provided.


The Case Against Income Tax Exemption For Nonprofits, Michael Fricke 2016 St. John's University School of Law

The Case Against Income Tax Exemption For Nonprofits, Michael Fricke

St. John's Law Review

No abstract provided.


When International Tax Agreements Fail At Home: A U.S. Example, Diane M. Ring 2016 Boston College Law School

When International Tax Agreements Fail At Home: A U.S. Example, Diane M. Ring

Boston College Law School Faculty Papers

Over the past two and a half years, the international tax community has focused on the Base Erosion and Profit Shifting Project (BEPS project) undertaken by the Organisation for Economic Co-operation and Development (OECD) at the behest of the G20. According to the OECD, the resulting 2015 agreement involved the direct participation of more than sixty countries. An additional fifty-nine countries indirectly participated through regional dialogues. Furthermore, numerous international organizations are credited with participating in discussions and contributing to the resulting product. But effective implementation of the BEPS agreement requires domestic action of various types — the domestic side of international ...


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