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Excessive State Debt: A New Approach To A Growing Problem, Vincent Buccola 2016 University of Pennsylvania

Excessive State Debt: A New Approach To A Growing Problem, Vincent Buccola

Penn Wharton Public Policy Initiative

Economists and political observers agree state governments defaulting on their debt obligations is a growing concern. How best to aid struggling states, however, is a point of contention. This Issue Brief makes a case against ex post restructuring measures, specifically bankruptcy modeled on Chapter 9 of the U.S. Bankruptcy Code, and in favor of ex ante debt mitigation action. In particular, it introduces tax-credit borrowing (TCB) as a potential commitment device for states that would allow for the creation of super-priority, risk-free debt. TCB ensures that states internalize the risk of default and avoids the moral hazard problem of ...


Let My Trustees Go! Planning To Minimize Or Eliminate Virginia And Other State Income Taxes On Trusts (Powerpoint), Richard W. Nenno 2016 College of William & Mary Law School

Let My Trustees Go! Planning To Minimize Or Eliminate Virginia And Other State Income Taxes On Trusts (Powerpoint), Richard W. Nenno

William & Mary Annual Tax Conference

No abstract provided.


Let My Trustees Go! Planning To Minimize Or Eliminate Virginia And Other State 12 Income Taxes On Trusts (Outline), Richard W. Nenno 2016 College of William & Mary Law School

Let My Trustees Go! Planning To Minimize Or Eliminate Virginia And Other State 12 Income Taxes On Trusts (Outline), Richard W. Nenno

William & Mary Annual Tax Conference

No abstract provided.


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 ...


Nonprofits, Politics, And Privacy, Lloyd Hitoshi Mayer 2016 Notre Dame Law School

Nonprofits, Politics, And Privacy, Lloyd Hitoshi Mayer

Lloyd Hitoshi Mayer

No abstract provided.


The Contemporary Tax Journal's Interview Of Dr. Susan Martin, Shilpa Balnadu 2016 San Jose State University

The Contemporary Tax Journal's Interview Of Dr. Susan Martin, Shilpa Balnadu

The Contemporary Tax Journal

No abstract provided.


Front Matter (Letter From The Editor, Masthead, Etc.), 2016 San Jose State University

Front Matter (Letter From The Editor, Masthead, Etc.)

The Contemporary Tax Journal

No abstract provided.


The Contemporary Tax Journal Volume 6, No. 1 – Summer/Fall 2016, 2016 San Jose State University

The Contemporary Tax Journal Volume 6, No. 1 – Summer/Fall 2016

The Contemporary Tax Journal

No abstract provided.


Summaries For The Fourth Annual Irs/Sjsu Small Business Tax Institute, Padmini Yalamarthi, Fan Wang, Jie Shen, Xuan Hong, Marla Hampton CPA, MBA, Aaron Grey 2016 San Jose State University

Summaries For The Fourth Annual Irs/Sjsu Small Business Tax Institute, Padmini Yalamarthi, Fan Wang, Jie Shen, Xuan Hong, Marla Hampton Cpa, Mba, Aaron Grey

The Contemporary Tax Journal

No abstract provided.


A Quiet Faith? Taxes, Politics, And The Privatization Of Religion, Richard W. Garnett 2016 Notre Dame Law School

A Quiet Faith? Taxes, Politics, And The Privatization Of Religion, Richard W. Garnett

Richard W Garnett

The government exempts religious associations from taxation and, in return, restricts their putatively political expression and activities. This exemption-and-restriction scheme invites government to interpret and categorize the means by which religious communities live out their vocations and engage the world. But government is neither well-suited nor to be trusted with this kind of line-drawing. What's more, this invitation is dangerous to authentically religious consciousness and associations. When government communicates and enforces its own view of the nature of religion - i.e., that it is a private matter - and of its proper place - i.e., in the private sphere, not ...


An Analysis Of Iowa School Spending Patterns And Size Characteristics, Mark A. Edelman, James J. Knudsen 2016 Iowa State University

An Analysis Of Iowa School Spending Patterns And Size Characteristics, Mark A. Edelman, James J. Knudsen

Mark Edelman

Companion reports (Edelman and Knudsen^ Staff Paper 187; 188; 189) review: (1) the effects of declining enrollments and economies of size on per pupil expenditures;


Book Review: International Tax Planning. By Barry Spitz. London, England: Butterworth & Co. Ltd., 1972. Pp. Xxiii, 159. $12.15 (U.S.)., Donald O. Clark 2016 McClain, Mellen, Bowling & Hickman

Book Review: International Tax Planning. By Barry Spitz. London, England: Butterworth & Co. Ltd., 1972. Pp. Xxiii, 159. $12.15 (U.S.)., Donald O. Clark

Georgia Journal of International & Comparative Law

No abstract provided.


Replacing Havoc: Creating Rules For Sovereign Default, Edward J. Kelley 2016 Cleveland-Marshall College of Law

Replacing Havoc: Creating Rules For Sovereign Default, Edward J. Kelley

Cleveland State Law Review

Sovereign debt is an ongoing threat to a State’s economic stability and its citizens’ standard of living. A single occurrence of default begins a cycle in which it becomes increasingly more difficult for an indebted State to pay its debts and ensure the survival of its citizens. Because central banking systems and direct spending are often inadequate methods to boost an indebted State’s economy, a more expansive solution to sovereign debt is required. The initial solution to the growing problem of sovereign debt is an international treaty that will allow the world economy to establish monitoring mechanisms to ...


Why Does Inequality Matter? Reflections On The Political Morality Of Piketty's Capital In The Twenty-First Century, Liam B. Murphy 2016 NYU School of Law

Why Does Inequality Matter? Reflections On The Political Morality Of Piketty's Capital In The Twenty-First Century, Liam B. Murphy

New York University Public Law and Legal Theory Working Papers

In the Conclusion to Capital in the Twenty-First Century Thomas Piketty issues a call for a political and historical economics. Like Marx and the political economists before him, Piketty is interested in how markets work because he is interested in the rights and wrongs of institutional, especially legal, design. His is book is guided by a clear sense that economic inequality, especially inequality of wealth, raises serious prima facie problems of social justice. This essay is a critical investigation into the political morality underlying Capital in the Twenty-First Century that unravels and evaluates the different ways in which economic inequality ...


Why Does Inequality Matter? Reflections On The Political Morality Of Piketty's Capital In The Twenty-First Century, Liam B. Murphy 2016 NYU School of Law

Why Does Inequality Matter? Reflections On The Political Morality Of Piketty's Capital In The Twenty-First Century, Liam B. Murphy

New York University Law and Economics Working Papers

In the Conclusion to Capital in the Twenty-First Century Thomas Piketty issues a call for a political and historical economics. Like Marx and the political economists before him, Piketty is interested in how markets work because he is interested in the rights and wrongs of institutional, especially legal, design. His is book is guided by a clear sense that economic inequality, especially inequality of wealth, raises serious prima facie problems of social justice. This essay is a critical investigation into the political morality underlying Capital in the Twenty-First Century that unravels and evaluates the different ways in which economic inequality ...


The Dormant Commerce Clause Wins One Five Takes On Wynne And Direct Marketing Association, Brannon P. Denning 2016 Cumberland School of Law

The Dormant Commerce Clause Wins One Five Takes On Wynne And Direct Marketing Association, Brannon P. Denning

Brannon P. Denning

October Term 2014 featured what is to date the most important state and local tax case since 1992’s Quill Corp. v. North Dakota.  In Comptroller v. Wynne, the U.S. Supreme Court affirmed a state court decision holding unconstitutional Maryland’s refusal to grant a credit for taxes paid by a resident taxpayer to other states on income earned by the taxpayer in those states.  This essay offers summary of the case, as well as five takes on Wynne and another state and local tax case from the 2014-2015 term, Direct Marketing Association v. Brohl
 
First, it is notable ...


Assessment Limits And Timing Of Real Estate Transactions, Sebastien J. Bradley 2016 Drexel University

Assessment Limits And Timing Of Real Estate Transactions, Sebastien J. Bradley

Sebastien J Bradley

Michigan homebuyers face large potential discontinuities in property tax obligations for purchases made around January 1 and May 1 under the state's application of acquisition-value based assessment limits and principal residence (homestead) exemptions, respectively.  Consistent with incentives, roughly 3.7 percent of sales concluded in the first 10 business days of January are thus attributable to timing responses among the subset of properties listed by the largest 25 percent of firms by sales volume.  Underlying this effect is a willingness to stretch the number of days between contract and closing dates by an average of 2 to 4 business ...


For Tax Day, A Simpler And Better Way, David J. Herzig 2016 Valparaiso University

For Tax Day, A Simpler And Better Way, David J. Herzig

David J. Herzig

No abstract provided.


Is The Philadelphia Wage Tax Unconstitutional? And If It Is, What Can And Should The City Do?, Michael S. Knoll, Ruth Mason 2016 University of Pennsylvania Law School

Is The Philadelphia Wage Tax Unconstitutional? And If It Is, What Can And Should The City Do?, Michael S. Knoll, Ruth Mason

Faculty Scholarship

Philadelphia has a complex and antiquated tax system that has long been criticized for driving employers and jobs away from Philadelphia by making it expensive to conduct business in the City. The centerpiece of the Philadelphia tax system is the Philadelphia wage tax, which raised more than $1.6 billion in 2014. That tax has been challenged as unconstitutional in light of the Supreme Court’s 2015 decision in Wynne v. Comptroller of Maryland, which struck down a structurally similar Maryland tax. This Essay explains the constitutional challenge to the City wage tax, argues that the tax is unconstitutional, describes ...


The Enigma Of Wynne, Edward A. Zelinsky 2016 College of William & Mary Law School

The Enigma Of Wynne, Edward A. Zelinsky

William & Mary Business Law Review

The five-justice Wynne majority used that case to make a major statement about the dormant Commerce Clause. In many respects, Wynne is an enigma that perpetuates an inherent problem of the Court’s dormant Commerce Clause doctrine: the Court declares some ill-defined taxes as unconstitutionally discriminatory because they encourage in-state investment, while other economically equivalent taxes and government programs that similarly encourage intrastate economic activity are apparently acceptable under the dormant Commerce Clause.

Wynne is thus more important than the immediate situation it addresses, and will have consequences beyond the immediate circumstances it addresses. A decision as enigmatic as it ...


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