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The "Original Intent" Of U.S. International Taxation, Michael J. Graetz, Michael M. O'Hear
The "Original Intent" Of U.S. International Taxation, Michael J. Graetz, Michael M. O'Hear
Faculty Scholarship
The Sixteenth Amendment took effect on February 25, 1913, permitting Congress to tax income "from whatever source derived," and on October 3rd of that year, Congress approved a tax on the net income of individuals and corporations. The United States regime for taxing international income took shape soon thereafter, during the decade 1919-1928. In the Revenue Act of 1918, the United States enacted, for the first time anywhere in the world, a credit against U.S. income for taxes paid by a U.S. citizen or resident to any foreign government on income earned outside the United States. The Revenue Act of …
International Aspects Of Fundamental Tax Reconstructing: Practice Or Principle, Michael J. Graetz
International Aspects Of Fundamental Tax Reconstructing: Practice Or Principle, Michael J. Graetz
Faculty Scholarship
The globalization of economic activity, including the expansion of international trade, the amazing ability of international capital markets to transfer capital rapidly across borders, and the movement in Europe toward greater economic unification, have made it more difficult for nations independently to fashion tax laws that properly balance their own equity, economic efficiency and simplicity goals. This is what makes this conference to analyze the international aspects of recent proposals to replace the federal income tax with some form of consumption tax, with particular emphasis on the Nunn-Domenici "USA" tax and the Armey-Shelby flat tax ("flat tax"), so important. As …