TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Tuesday, November 21, 2017

Williamson Presents Why Americans Are Proud To Pay Taxes Today at Columbia

Read My LipsVanessa S. Williamson (Brookings Institution) presents Read My Lips: Why Americans Are Proud to Pay Taxes (Princeton University Press 2017) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk:

Conventional wisdom holds that Americans hate taxes. But the conventional wisdom is wrong. Bringing together national survey data with in-depth interviews, Read My Lips presents a surprising picture of tax attitudes in the United States. Vanessa Williamson demonstrates that Americans view taxpaying as a civic responsibility and a moral obligation. But they worry that others are shirking their duties, in part because the experience of taxpaying misleads Americans about who pays taxes and how much. Perceived "loopholes" convince many income tax filers that a flat tax might actually raise taxes on the rich, and the relative invisibility of the sales and payroll taxes encourages many to underestimate the sizable tax contributions made by poor and working people.

Americans see being a taxpayer as a role worthy of pride and respect, a sign that one is a contributing member of the community and the nation. For this reason, the belief that many Americans are not paying their share is deeply corrosive to the social fabric. The widespread misperception that immigrants, the poor, and working-class families pay little or no taxes substantially reduces public support for progressive spending programs and undercuts the political standing of low-income people. At the same time, the belief that the wealthy pay less than their share diminishes confidence that the political process represents most people.

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November 21, 2017 in Book Club, Colloquia, Scholarship, Tax | Permalink | Comments (0)

Monday, November 20, 2017

Eyal-Cohen Presents The Cost Of Inexperience Today At Loyola-L.A.

Eyal-Cohen (2017)Mirit Eyal-Cohen (Alabama) presents The Cost of Inexperience at Loyola-L.A. today as part of its Tax Policy Colloquium Series hosted by Katie Pratt and Ted Seto:

Free market entry is vital in preventing concentration of market power and eliminating large deadweight losses. Yet, in recent years, studies show that newcomers are less successful than existing firms that have diversifies their products in the market. What might explain this phenomenon?

This Article unveils a regulatory catch 22. It reveals that although a regulation may be efficient in correcting a certain market failure, its distributional effects may create another. It exposes the degree to which “economies of experience” in regulation create significant disadvantages to newcomers and provide substantial advantages to oldtimers. Being well-versed in their marketplace, old-timers possess knowledge, familiarity, and influence over the rulemaking process. New or “green” entities entering regulated market or dealing with a new rule face proportionally larger costs to obtain regulatory insight. Consequently, an anomaly exists when government choice may de facto hamper innovation and survival of newcomers, the same goals it seeks to promote.

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November 20, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (1)

Thursday, November 16, 2017

Goldin Presents Complexity and Take-up of the Earned Income Tax Credit At Northwestern

Goldin (2017)Jacob Goldin (Stanford) presented Complexity and Take-up of the Earned Income Tax Credit at Northwestern yesterday as part of its Advanced Topics in Taxation Workshop Series hosted by Sarah Lawsky:

Tax benefits like the Earned Income Tax Credit (EITC) represent an important source of income to their recipients, but millions of those who are eligible to claim tax benefits fail to do so. One possible explanation is that the rules governing most tax benefits are extraordinarily complex. I consider efforts to increase tax benefit take-up in light of this complexity. A key fact in thinking about this issue is that the vast majority of tax filers today prepare their taxes with assisted preparation methods (APMs) like software or professional assistance. Because APMs eliminate most of the barriers to claiming tax benefits for which one is eligible, I ague that efforts to increase benefit take-up should focus on inducing benefit-eligible individuals to file a tax return using an APM. In contrast, efforts aimed at increasing awareness of a benefit (of the type widely employed by governments and nonprofits) are less likely to be successful, except to the extent they themselves induce an increase in tax filing.

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November 16, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (1)

Wednesday, November 15, 2017

Lockwood Presents Regressive Sin Taxes Today At Penn

LockwoodBenjamin B. Lockwood (Pennsylvania) presents Regressive Sin Taxes (with Dmitry Taubinsky (UC-Berkeley)) at Pennsylvania today as part of its Tax Policy Workshop Series hosted by Chris Sanchirico and Reed Shuldiner:

A common objection to “sin taxes” — corrective taxes on goods like cigarettes, alcohol, and sugary drinks, which are believed to be over-consumed — is that they fall disproportionately on low-income consumers. This paper studies the interaction between corrective and redistributive motives in a general optimal taxation framework. On the one hand, redistributive concerns amplify the corrective benefits of a sin tax when sin good consumption is concentrated on the poor, even when bias and demand elasticities are constant across incomes. On the other hand, a sin tax can generate regressivity costs, raising more revenue from the poor than from the rich.

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November 15, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (1)

Tuesday, November 14, 2017

Listokin Presents The Law And Economics Of Recessions Today At Columbia

Listokin (2015)Yair Listokin (Yale) presents Law and Macroeconomics: The Law and Economics of Recessions at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk:

In this Article, I offer a macroeconomic perspective on law that reshapes the microeconomic perspective that currently dominates law and economics. I argue that 1. The economy works one way in ordinary economic conditions, in which supply capacity determines output, and a different way in deep recessions, in which demand for spending determines output. 2. Because the economy functions differently in deep recessions than in ordinary times, a law causes one set of effects in deep recessions and a different set of effects at other times. 3. Because the same law has different effects at different times, law should be different in deep recessions than in other times. Specifically, law should do more to promote spending in deep recessions than in ordinary economic conditions. Because the stakes of deep recessions are so high (tens of trillions of dollars in lost output, countless lives impaired, and political upheaval), I argue that the (significant) costs associated with introducing macroeconomics into law are worth bearing.

November 14, 2017 in Colloquia | Permalink | Comments (0)

Monday, November 13, 2017

Herzig Presents Structural Inequities Of Exchange Traded Funds Today At Loyola-L.A.

Herzig (2018)David Herzig (Valparaiso) presents Structural Inequities of Exchange Traded Funds at Loyola-L.A. today as part of its Tax Policy Colloquium Series hosted by Katie Pratt and Ted Seto:

Exchange Trade Funds (ETFs) have almost as many assets under management as Mutual Funds. ETFs are often compared to Mutual Funds as a more efficient version of the same structure. The popular narrative espouses that these tax efficiencies account for the growth of the sector. This narrative is incomplete and misleading. These two structures have key differences other than tax efficiency. These structural differences have created an environment where aggressive bets against their performance, e.g. shorts, and high levels of internal leverage of the fund take place. Because of the vulnerabilities caused by the structural differences between ETFs and Mutual Funds, ETFs may not be the better structure but, rather, be the canary in the coal mine for the next market crash. This article proposes both tax and regulatory rules to rein in ETFs.

 

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November 13, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Thursday, November 9, 2017

Barry Presents Collusion In Markets With Syndication Today At Pepperdine

Barry (2017)Jordan Barry presents Collusion in Markets With Syndication (with John Hatfield (Texas), Scott Kominers (Harvard) & Richard Lowery (Texas)) at Pepperdine today as part of our Faculty Workshop Series hosted by Babette Boliek:

Many markets, including the markets for IPOs and debt issuances, are syndicated, in that a bidder who wins a contract will often invite competitors to join a syndicate that will fulfill the contract. We model syndicated markets as a repeated extensive form game, and show that standard intuitions from industrial organization can be reversed: Collusion may become easier as market concentration falls, and market entry may in fact facilitate collusion. In particular, price collusion can be sustained by a strategy in which firms refuse to join the syndicate of any firm that deviates from the collusive price, thereby raising total production costs. Our results can thus rationalize the apparently contradictory empirical facts that the market for IPO underwriting exhibits seemingly collusive pricing despite its low level of market concentration.

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November 9, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Wednesday, November 8, 2017

Viard Presents Taxes, Transfers, Progressivity, And Redistribution Today At Penn

Viard (2016)Alan D. Viard (American Enterprise Institute) presents Taxes, Transfers, Progressivity, And Redistribution, Part 1, 140 Tax Notes 1437 (Sept. 5, 2016) and Part 2, 140 Tax Notes 1879 (Sept. 26, 2017) (with Sita N. Slavov (George Mason)), at Pennsylvania today as part of its Tax Policy Workshop Series hosted by Chris Sanchirico and Reed Shuldiner:

In Part 1, Slavov and Viard explain how to measure the extent of redistribution induced by a tax transfer system, the impact of the size and progressivity of taxes and transfers, and the proper comparison of the effects of taxes and transfers. In Part 2, Slavov and Viard discuss the policy issues regarding the choice of a fiscal system’s size and progressivity.

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November 8, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Monday, November 6, 2017

Tillotson Presents Give and Take: The Citizen-Taxpayer And The Rise Of Canadian Democracy Today At McGill

Give and TakeShirley Tillotson (Dalhousie University) presents Give and Take: The Citizen-Taxpayer and the Rise of Canadian Democracy (University of British Columbia Press Nov. 15, 2017) at McGill today as part of its Spiegel Sohmer Tax Policy Colloquium Series convened by Allison Christians:

Can a book about tax history be a page-turner? You wouldn’t think so. But Give and Take is full of surprises. A Canadian millionaire who embraced the new federal income tax in 1917. A socialist hero, J.S. Woodsworth, who deplored the burden of big government. Most surprising of all, Give and Take reveals that taxes deliver something more than armies and schools. They build democracy.

Tillotson launches her story with the 1917 war income tax, takes us through the tumultuous tax fights of the interwar years, proceeds to the remaking of income taxation in the 1940s and onwards, and finishes by offering a fresh angle on the fierce conflicts surrounding tax reform in the 1960s.

Taxes show us the power of the state, and Canadians often resisted that power, disproving the myth that we have all been good loyalists. But Give and Take is neither a simple tale of tax rebels nor a tirade against the taxman. Canadians also made real contributions to democracy when they taxed wisely and paid willingly.

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November 6, 2017 in Book Club, Colloquia, Scholarship, Tax | Permalink | Comments (0)

Haufler Presents Bonus Taxes And International Competition For Bank Managers Today At UC-Berkeley

HauflerAndreas Haufler (University of Munich) presents Bonus Taxes and International Competition for Bank Managers (with Daniel Gietl (University of Munich)) at UC-Berkeley today as part of its  Robert D. Burch Center for Tax Policy and Public Finance Seminar Series:

We analyze the competition in bonus taxation when banks compensate their managers by means of fixed and incentive pay and bankers are internationally mobile. Banks choose bonus payments that induce excessive managerial risk-taking to maximize their private benefits of existing government bailout guarantees. In this setting the international competition in bonus taxes may feature a ‘race to the bottom’ or a ‘race to the top’, depending on whether bankers are a source of net positive tax revenue or inflict net fiscal losses on taxpayers as a result of incentive pay.

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November 6, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Clausing Presents Corporate Tax Reform In The Age Of Trump Today At Loyola-L.A.

Clausing (2018)Kimberly Clausing (Reed College) presents Corporate Tax Reform in the Age of Trump at Loyola-L.A. today as part of its Tax Policy Colloquium Series hosted by Katie Pratt and Ted Seto:

After the failure of Ryan/Brady Blueprint, which relied on a destination-based cash flow tax, the Republicans have proposed dramatic changes to corporate taxation in their Unified Framework. This presentation will consider these reform proposals within the context of the larger role of the corporate tax. The corporate tax is an indispensible part of our larger tax system. It is our only comprehensive tool for taxing capital income, it helps protect the individual income tax system, and it plays an essential role in both the efficiency and equity of our tax system. Given the many functions that the corporate tax performs, potential reform proposals should address how they are affecting each of these considerations.

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November 6, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Wednesday, November 1, 2017

Tahk Presents The New Welfare Rights Today At Northwestern

Tahk (2017)Susannah Tahk (Wisconsin) presents The New Welfare Rights, 82 Brook. L. Rev. ___ (2017), at Northwestern as part of its Advanced Topics in Taxation Workshop Series hosted by Sarah Lawsky:

Participating in the tax system gives rise to what could be enormously powerful rights for poor people. The tax system has become one of the main tools the U.S. uses to fight poverty. A thick bundle of tax rights accompanies the many tax antipoverty programs. This paper is the first to recognize the potentially substantial rights that poor people have through the tax code. For decades, poverty law advocates and scholars have lamented the decline of the “welfare rights” that poor people once had in their benefits. No one has yet recognized that in fact poor people still have substantial rights in the tax code. These “new welfare rights” are not rights that lawmakers are attempting to weaken but rights that they are strengthening. However, lawyers and lawmakers have yet to unlock the potential that tax rights have to improve the lives of poor people. This paper discusses two methods by which this can happen.

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November 1, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Shaheen Presents Income Tax Treaty Aspects Of Nonincome Taxes Today At Penn

Shaheen (2017)Fadi Shaheen (Rutgers) presents Income Tax Treaty Aspects of Nonincome Taxes at Pennsylvania today as part of its Tax Policy Workshop Series hosted by Chris Sanchirico and Reed Shuldiner:

This discussion draft — prepared for the 7th Annual NYU/UCLA Tax Policy Symposium on New Approaches to Calculation and Allocation of the International Tax Base held on October 27, 2017 — considers the income tax treaty aspects of nonincome taxes such as the retail sales tax, the value added tax, the flat tax, the X tax and the destination-based cashflow tax. The current draft focuses on three main issues: one that the literature has thus far missed, another regarding an argument I disagree with, and a third the discussion of which was avoided. The point that was missed is the question of residence, which is a critical treaty gateway issue. The argument is that if the United States replaces the existing income tax with any nonincome tax discussed here, the affected U.S. taxpayers would no longer be U.S. residents for treaty purposes and as such would no longer be entitled to benefits under existing income tax treaties.

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November 1, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Marian Presents Is All Corporate Tax Planning Good For Shareholders? Today At Toronto

Marian (2016)Omri Marian (UC-Irvine) presents Is All Corporate Tax Planning Good for Shareholders? at Toronto today as part of its James Hausman Tax Law and Policy Workshop Series:

Multiple commentators argue that corporate managers have an affirmative duty to engage in corporate tax planning. Underlying this argument is the assumption that reduced corporate tax liability enhances shareholder value. In this article, I explain that this common perception is frequently incorrect. Corporate tax reduction schemes may increase the overall tax burden on shareholders. I make the following descriptive arguments in this regard:

First, I show that in many cases, successful (and legal) corporate tax planning schemes are not Pareto-optimal to shareholders. Some classes of shareholders (generally, tax-exempt shareholders) may see a net benefit, while other shareholders (usually taxable shareholders) experience a net loss. Second, I show that in certain instances it is reasonable to expect that legal corporate tax planning schemes will be overall inefficient. Meaning, the losses to taxable shareholders may exceed the gains to tax-exempt shareholders. Lastly, I show that because of an underappreciated agency problem, shareholders approve inefficient corporate tax plans, even when information about the potential detriment is freely available.

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November 1, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Tuesday, October 31, 2017

Zwick Presents Capitalists In The Twenty-First Century Today At Columbia

ZwickEric Zwick (Chicago) presents Capitalists in the Twenty-First Century (with Matthew Smith (U.S. Treasury Department), Danny Yagan (UC-Berkeley) & Owen Zidar (Chicago)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk:

Have passive rentiers replaced the working rich at the top of the U.S. income distribution? Using administrative data linking 15 million firms to their owners, this paper shows that private business owners who actively manage their firms are key for top income inequality. Private business income accounts for most of the rise of top incomes since 2000, and the majority of top earners receive private business income — most of which accrues to active owner-managers of mid-market firms in relatively skill-intensive and unconcentrated industries. Profit falls substantially after premature owner deaths. Top-owned firms are twice as profitable per worker as other firms despite similar risk, and rising profitability without rising scale explains most of their profit growth.

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October 31, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Monday, October 30, 2017

Scharff Presents Pricing Externalities Under State Law Today At Loyola-L.A.

Scharff (2017)Erin Scharff (Arizona State) presents Green Fees: Pricing Externalities Under State Law at Loyola-L.A. today as part of its Tax Policy Colloquium Series hosted by Katie Pratt and Ted Seto:

Policymakers at the state and local level are increasingly interested in using market-based pricing mechanisms as regulatory tools. At the state level, Massachusetts, Rhode Island, and Washington have recently considered state-level carbon pricing, while California is moving forward with its own cap-and-trade program. At the local level, municipal governments are increasingly turning to stormwater remediation fees to pay for the treatment of municipal runoff required by the Clean Water Act. And Philadelphia, Berkeley, and Seattle all recently joined Chicago and impose a soda tax on high-caloric beverages.

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October 30, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Thursday, October 26, 2017

Liscow Presents Is Efficiency Biased? Today At Boston College

Liscow (2017)Zachary Liscow (Yale) presents Is Efficiency Biased? at Boston College today as part of its Tax Policy Workshop Series hosted by Jim Repetti, Diane Ring, and Shu Yi Oei:

The most common underpinning of economic analysis of the law has long been the goal of efficiency (i.e., choosing policies that maximize people’s willingness to pay), as reflected in economic analysis of administrative rulemaking, judicial rules, and proposed legislation. Current thinking is divided on the question whether efficient policies are biased against the poor, which is remarkable given the question’s fundamental nature. Some say yes; others, no.

I show that both views are supportable and that the correct answer depends upon the political and economic context and upon the definition of neutrality.

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October 26, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

LSE Hosts Book Launch Today For A Global Analysis Of Tax Treaty Disputes

GlobalThe London School of Economics Law Department hosts a book launch today for Eduardo A. Baistrocchi (LSE), A Global Analysis of Tax Treaty Disputes (Cambridge University Press 2017):

This two-volume set offers an in-depth analysis of the leading tax treaty disputes in the G20 and beyond within the first century of international tax law. Including country-by-country and thematic analyses, the study is structured around a novel global taxonomy of tax treaty disputes and includes an unprecedented dataset with over 1500 leading tax treaty cases. By adopting a contextual approach the local expertise of the contributors allows for a thorough and transparent analysis. This set is an important reference tool for anyone implementing or studying international tax regulations and will facilitate the work of courts, tax administrations and practitioners around the world. It is designed to complement model conventions such as the OECD Model Tax Convention on Income and on Capital. Together with Resolving Transfer Pricing Disputes (2012), it is a comprehensive addition to current debate on the international tax law regime.

Reviewers:

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October 26, 2017 in Book Club, Colloquia, Scholarship, Tax | Permalink | Comments (0)

Wednesday, October 25, 2017

Maag Presents Two Tax Papers Today At Penn

MaagElaine Maag (Tax Policy Center) presents two papers at Pennsylvania today as part of its Tax Policy Workshop Series hosted by Chris Sanchirico and Reed Shuldiner:

Increasing Family Complexity and Volatility: The Difficulty of Determining Child Tax Benefits (with H. Elizabeth Peters and Sarah Edelstein)

The American family is changing. Individuals marry later, divorce more frequently, or live together without being married (cohabit). Non-marital births, complex custody arrangements, and multiple generations of families living together are more common, but the tax system has not kept pace. Although tax benefits are an important pillar of support for children, understanding who in a complex family should claim them can be difficult. We document demographic trends and explain their importance with respect to tax filing and eligibility for child related benefits such as the earned income tax credit, child tax credit, dependent exemption and others.

Income Volatility: New Research Results with Implications for Income Tax Filing and Liabilities (with H. Elizabeth Peters, Anthony Hannagan, Cary Lou & and Julie Siwicki):

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October 25, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Tuesday, October 24, 2017

Barry Presents Tax And The Boundaries Of The Firm Today At Florida

Barry (2017)Jordan Barry (San Diego) presents Tax and the Boundaries of the Firm (with Victor Fleischer (San Diego)) at Florida today as part of its Graduate Tax Speaker Series:

How does the income tax shape the boundaries of the firm? This Article goes back to foundational ground — Coase’s inquiry into the nature of the firm— to gain some traction on this elementary question. ...

Part II revisits the literature on Coase and the boundaries of the firm, setting the stage for a discussion of how transaction cost economics can inform tax policy. Part III explores some of the ways in which the income tax distorts the boundary of the firm. In doing so, it provides numerous examples of provisions that can grow or shrink firms at the margin or alter the relative size of their components. It also discusses how firms can respond to income tax law incentives without significantly changing their economic behavior by engaging in regulatory arbitrage.

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October 24, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Milligan Presents Disability Insurance In Canada And The U.S. Today At Columbia

MilliganKevin Milligan (University of British Columbia) presents Push and Pull: Disability Insurance, Regional Labor Markets, and Benefit Generosity in Canada and the United States (with Tammy Schirle (Wilfrid Laurier University)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk:

Disability insurance take-up has expanded substantially in the past twenty years in the United States while shrinking in Canada. We empirically assess these trends by measuring the strength of the ‘push’ from weak labor markets versus the ‘pull’ of more generous benefits.

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October 24, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Monday, October 23, 2017

Pichhadze Presents Transfer Pricing In Canada Today At McGill

AmirAmir Pichhadze (Deakin University, Australia) presents Canada’s Federal Income Tax Act: The Need for a Principle (Policy) Based Approach to Legislative (Re)drafting of Canada’s Transfer Pricing Rule at McGill today as part of its Spiegel Sohmer Tax Policy Colloquium Series at McGill covened by Allison Christians:

Pichhadze's new paper builds on his prior work with Reuven Avi-Yonah on GAARs and the Nexus Between Statutory Interpretation and Legislative Drafting Lessons for the U.S. From Canada and draws on insights from Judith Freedman's work on Interpreting Tax Statutes: Tax Avoidance and the Intention of Parliament. The working draft explores the evolution of arm's length transfer pricing in Canada and makes the case for Canada’s parliament to adopt and apply a more explicit principle/policy-based approach to legislative drafting.

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October 23, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Toder Presents How Do We Tax The Income Of Entrepreneurs? Today At Loyola-L.A.

Toder (2017)Eric Toder (Tax Policy Center) presents How Do We Tax the Income of Entrepreneurs? at Loyola-L.A. today as part of its Tax Policy Colloquium Series hosted by Katie Pratt and Ted Seto:

Entrepreneurs create successful enterprises that generate substantial value through the innovations they introduce. They typically must wait many years before their firms generate net operating profits. The tax system favors entrepreneurial activity by allowing deferral of tax on the accrual of wealth within new firms and by taxing the gains of entrepreneurs when realized at favorable capital gains rates. But taxes on the income of mature enterprises offset some of this benefit by reducing the value of the firms that entrepreneurs create. Taxation of entrepreneurial income matters because of the important contributions the innovations entrepreneurs introduce make to economic growth.

 

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October 23, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Thursday, October 19, 2017

Toder Presents Replacing Corporate Revenues With A Mark-to-Market Tax On Shareholder Income Today At San Francisco

Toder (2017)Eric Toder (Tax Policy Center) presents Replacing Corporate Revenues With a Mark to Market Tax on Shareholder Income (with Alan D. Viard) at San Francisco today as part of its Tax Policy Lecture Series:

We propose reducing the corporate tax rate to 15 percent and replacing the foregone revenue with a tax at ordinary income rates on the accrued, or mark-to-market, income of American shareholders of publicly traded corporations, accompanied by an imputation credit for U.S. corporate income taxes paid. The proposal would dramatically reduce the tax significance of the source of corporate profits and the residence of corporations, both of which can be easily manipulated. Lowering the corporate tax rate to 15 percent would encourage a flow of capital into the United States and reduce incentives to shift reported profits overseas and to engage in inversion transactions, while continuing to impose tax on foreigners who earn economic rents from investing in the United States.

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October 19, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (2)

Wednesday, October 18, 2017

Halpern Presents Litigation In The U.S. Tax Court Today At Pennsylvania

Penn (2017)James S. Halpern (Judge, U.S. Tax Court) presents Litigation in the Tax Court at Pennsylvania today as part of its Tax Policy Workshop Series hosted by Chris Sanchirico and Reed Shuldiner:

The Tax Court continues to serve a unique and important role in the Federal government’s tax collection process. The Court provides an impartial tribunal for the adjudication of tax disputes before assessment of the tax (and the government’s ability to invoke its powerful extrajudicial means of seizing property to satisfy tax debts). It also creates a body of precedents that interpret Federal tax law uniformly across the country. The Court’s fundamental role has not changed since …

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October 18, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Tuesday, October 17, 2017

Weisbach Discusses The Unified Framework For Fixing Our Broken Tax Code Today At Columbia

WeisbachDavid A. Weisbach (Chicago) discusses the Treasury Department's Unified Framework For Fixing Our Broken Tax Code at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk.  The discussion builds on David's article, A Guide to the GOP Tax Plan – The Way to a Better Way,  8 Colum. J. Tax L. 171 (2017):

The tax reform plan — A Better Way — put forward by the chairman of the House Ways and Means Committee Kevin Brady and the Speaker of the House, Paul Ryan would be the most substantial tax reform in the United States since the enactment of the income tax in 1913. At the corporate level, the reform would allow immediate expensing of investments, deny deductions for net interest expense, and eliminate the taxation of income from sales in foreign countries while taxing the full value of imports (together shifting the tax base to a destination basis). At the individual level, the system would tax capital income including interest, dividends, and capital gains at half the rate that wages and salaries are taxed. It would also repeal the estate and generation skipping taxes. These changes would go a long way toward shifting the tax system to taxing consumption rather than income.

This paper considers the implementation of the House GOP tax plan and addresses issues that will need to be resolved if the plan is to work as intended. The plan is based on, and builds off of, a long history of thinking about consumption taxes. To understand the basic choices made in the plan, it is helpful to understand this history and how consumption taxes work in general.

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October 17, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (2)

Monday, October 16, 2017

Burman Presents A Tax Credit To Make Work Really Pay Today At Loyola-L.A

Burman (2016)Leonard Burman (Tax Policy Center) presents A Tax Credit to Make Work Really Pay at Loyola-L.A. today as part of its Tax Policy Colloquium Series hosted by Katie Pratt and Ted Seto:

Middle class wages have been stagnant for the past four decades, barely keeping up with inflation. This pattern is unlikely to change. The main factor depressing wages for low- and middle-skilled workers is technology. While technology once made workers more productive and boosted wages and employment, technology increasingly substitutes for workers. It is one reason why manufacturing employment in the U.S. has plummeted even as production of manufactured goods has soared. The failure of the market to broadly share the gains from economic growth calls for an intervention.

This paper proposes a universal wage tax credit of 100% of the first $10,000 of earnings financed by a broad-based dedicated value-added tax (VAT) of about 8 percent.

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October 16, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (1)

Wednesday, October 11, 2017

Marian Presents Is All Corporate Tax Planning Good For Shareholders? Today At Penn

Marian (2016)Omri Marian (UC-Irvine) presents Is All Corporate Tax Planning Good for Shareholders at Pennsylvania today as part of its Tax Policy Workshop Series hosted by Chris Sanchirico and Reed Shuldiner:

Multiple commentators argue that corporate managers have an affirmative duty to engage in corporate tax planning. Underlying this argument is the assumption that reduced corporate tax liability enhances shareholder value. In this article, I explain that this common perception is frequently incorrect. Corporate tax reduction schemes may increase the overall tax burden on shareholders. I make the following descriptive arguments in this regard:

First, I show that in many cases, successful (and legal) corporate tax planning schemes are not Pareto-optimal to shareholders. Some classes of shareholders (generally, tax-exempt shareholders) may see a net benefit, while other shareholders (usually taxable shareholders) experience a net loss. Second, I show that in certain instances it is reasonable to expect that legal corporate tax planning schemes will be overall inefficient. Meaning, the losses to taxable shareholders may exceed the gains to tax-exempt shareholders. Lastly, I show that because of an underappreciated agency problem, shareholders approve inefficient corporate tax plans, even when information about the potential detriment is freely available.

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October 11, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Cockfield Presents What's International Tax Law Got To Do With It? Today At Toronto

Cockfield (2016)Arthur Cockfield (Queen's) presents What's International Tax Law Got to do With It? at Toronto today as part of its James Hausman Tax Law and Policy Workshop Series:

The OECD and G20 Base Erosion and Profits (BEPS) project represents the greatest multilateral cooperative effort to date to inhibit aggressive international tax planning and offshore tax evasion. While accepting that cooperation is normally helpful, the Article explores some of the theoretical and practical limits to international tax cooperation along with the potential for unilateral tax reform to confront pressing challenges.

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October 11, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Tuesday, October 10, 2017

Greene Presents Welfare Reform, Consumer Credit, And Inequality Today At Columbia

GreeneSara Sternberg Greene (Duke) presents The Bootstrap Trap: Welfare Reform, Consumer Credit, and Inequality, 67 Duke L. J. (2017) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk:

In the mid-1990s, Congress fundamentally altered the public safety net when it passed the Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) of 1996, otherwise known as welfare reform. Under the PRWORA, cash assistance was no longer an entitlement for income-qualifying families; instead, recipients faced work requirements and lifetime limits on receiving benefits. Bipartisan reformers sought to transform welfare from a program believed to trap poor mothers in a “culture of dependence” into a program that would promote a culture of “self-sufficiency” and “personal responsibility.” This shift in culture, it was argued, would ultimately lead to upward mobility. This Article shows how, ironically, over twenty years after welfare reform, the private safety net that many struggling families rely on — the credit system — disincentivizes the very self-sufficient behavior that welfare reformers had hoped to promote.

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October 10, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Mason Presents Are Tax Rulings Selective? Today At Boston College

Mason (2016)Ruth Mason (Virginia) presents State Aid Special Report – Part 6: Are Tax Rulings Selective? at Boston College today as part of its Tax Policy Workshop Series hosted by Jim Repetti, Diane Ring, and Shu Yi Oei:

The scope of EU state-aid enforcement in the tax area is unpredictable.  Lawyers in Europe worry that tax policies as quotidian as participation exemption and as central as territoriality may constitute state aid.  This legal uncertainty arises in part because the Commission uses the state-aid rules to pursue a number of conflicting values, and it does not always specify clearly in each case what value it pursues. The goals of state-aid control ought to be more clearly articulated, and the Commission’s enforcement actions should be limited by those goals.  Such limitations could be self-imposed by the Commission, using clearer published guidance and more explicit reasoning in decisions, or such limitations could from the EU courts via judicial review of the Commission’s state-aid decisions.  

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October 10, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Monday, October 9, 2017

Liscow Presents Is Efficiency Biased? Today At Loyola-L.A.

Liscow (2017)Zachary Liscow (Yale) presents Is Efficiency Biased? at Loyola-L.A. today as part of its Tax Policy Colloquium Series hosted by Katie Pratt and Ted Seto:

The most common underpinning of economic analysis of the law has long been the goal of efficiency (i.e., choosing policies that maximize people’s willingness to pay), as reflected in economic analysis of administrative rulemaking, judicial rules, and proposed legislation. Current thinking is divided on the question whether efficient policies are biased against the poor, which is remarkable given the question’s fundamental nature. Some say yes; others, no.

I show that both views are supportable and that the correct answer depends upon the political and economic context and upon the definition of neutrality.

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October 9, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Thursday, October 5, 2017

Walker Presents The Practice And Tax Consequences Of Nonqualified Deferred Compensation At Penn

Walker (2016)David Walker (Boston University) presented The Practice and Tax Consequences of Nonqualified Deferred Compensation at Pennsylvania yesterday as part of its Tax Policy Workshop Series hosted by Chris Sanchirico and Reed Shuldiner:

Although nonqualified deferred compensation plans lack explicit tax preferences afforded qualified plans, it is well understood that nonqualified deferred compensation results in a joint tax advantage when employers earn a higher after-tax return on deferred sums than employees could achieve on their own. Several commentators have proposed tax reform aimed at leveling the playing field between cash and nonqualified deferred compensation, but reform is not easily achieved. This Article examines the stakes.

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October 5, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Wednesday, October 4, 2017

Mason Presents Whose Arm's-Length Standard? Today At Northwestern

Mason (2016)Ruth Mason (Virginia) presents Tax Rulings as State Aid — Part 4: Whose Arm's-Length Standard?, 155 Tax Notes 947 (May 15, 2017), at Northwestern as part of its Advanced Topics in Taxation Workshop Series hosted by Sarah Lawsky:

In this fourth part in a series of reports on state aid, Mason focuses on the element of “advantage” in EU state aid law, and she criticizes the European Commission’s doctrinal approach to identifying advantages for state aid purposes. In particular, this article addresses the divergence between the EC’s and OECD’s conceptions of the arm’s-length principle. ...

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October 4, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Tuesday, October 3, 2017

Fullerton Presents Vertical And Horizontal Redistributions From A Carbon Tax And Rebate Today At Columbia

FullertonDon Fullerton (Illinois) presents Vertical and Horizontal Redistributions from a Carbon Tax and Rebate (with Julie-Anne Cronin (U.S. Treasury Department) & Steven Sexton (Duke)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk:

Because electricity is a higher fraction of spending for those with low income, carbon taxes are believed to be regressive. Many argue, however, that their revenues can be used to offset the regressivity. We assess these claims by employing data on 322,000 families in the U.S. Treasury’s Distribution Model to study vertical redistributions between rich and poor, as well as horizontal redistributions among families with common incomes but heterogeneous energy intensity of consumption (different home heating and cooling demands).

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October 3, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Monday, October 2, 2017

Kleinbard Presents The Right Tax At The Right Time Today At Loyola-L.A.

Kleinbard (2015)Edward Kleinbard (USC) presents The Right Tax at the Right Time, 20 Fla. Tax Rev. ___ (2017), at Loyola-L.A. today as part of its Tax Policy Colloquium Series hosted by Ellen Aprill and Katherine Pratt:

The companion paper to this (Capital Taxation in an Age of Inequality, 90 S. Cal. L. Rev. 593 (2017)) 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 account allowance termed the Cost of Capital Allowance (COCA). In turn, investors in firms include in income each year the same COCA rate, applied to their tax basis in their investments. The result is a single tax on capital income (rents plus normal returns), where the tax on normal returns is imposed directly on the least mobile class of taxpayers. Labor income continues to be taxed at progressive tax rates.

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October 2, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Wednesday, September 27, 2017

Yin Presents Tax Law Codification And The Emergence Of The Joint Committee On Taxation Staff Today At Penn

Yin (2015)George Yin (Virginia), presents Codification of the Tax Law and the Emergence of the Staff of the Joint Committee on Taxation at Pennsylvania today as part of its Tax Policy Workshop Series hosted by Chris Sanchirico and Reed Shuldiner:

In 1926, Congress created the Joint Committee on Taxation (JCT) and its staff. This article explains how, partly by design but largely by happenstance, the JCT staff helped change the nature of the legislative process. By serving at or near the intersection of three great divides in government — those between the parties, the houses of Congress, and the legislative and executive branches — the staff demonstrated the value of unelected professionals assisting directly in the formation of legislation and led Congress to rely more on its own resources in the legislative process rather than those of the executive branch.

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September 27, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Lukic Presents The Taxation On Goods And Services In Brazil Today At Toronto

LukicMelina Rocha Lukic (Getulio Vargas Foundation (FGV) Law School, Brazil) presents The Taxation on Goods and Services in Brazil: The Canadian System as a Model? at Toronto today as part of its James Hausman Tax Law and Policy Workshop Series:

The paper aims to analyze the possibility to implement a VAT system in Brazil based on the Canadian GST system. The tax system of goods and services in Brazil is composed of several taxes that were divided according to different bases (distribution of goods, services provisions, industrialization and revenue/turnover). The competence for imposition and collection was distributed to the three federal entities: Federal Government, States and Municipalities. This peculiarity — segmentation of the tax bases and several taxes levied on the same basis — causes various problems and obstacles to Brazilian system, as we describe in the paper.

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September 27, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Tuesday, September 26, 2017

Homonoff Presents The Timing Of SNAP Issuance, Food Expenditures, And Grocery Prices Today At Columbia

HomonoffTatiana Homonoff (NYU) presents Is There an Nth of the Month Effect? The Timing of SNAP Issuance, Food Expenditures, and Grocery Prices (with Jacob Goldin (Stanford) & Katherine Meckel (Texas A&M)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk:

Previous research on the Supplemental Nutrition Assistance Program (SNAP) suggests that participants consume more food on days immediately following benefit issuance, prompting retailers to raise food prices to capture a portion of the transfer. Partly in response to such findings, some have called for states to stagger benfit issuance over multiple days of the month. To study the effect of staggering benefits, we link variation among states in the timing of benefit issuance to a large panel of transaction-level data from households and retailers. We document large intra-month cycles in food expenditures among SNAP-eligible households that closely track state issuance policies. However, we rule out economically signficant effects on retailer pricing, which suggests that staggering benfits would not meaningfully shape the incidence of SNAP benfits.

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September 26, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Wednesday, September 20, 2017

Glogower Presents Progressive Taxation Of Income And Wealth Today At Northwestern

Glogower (2016)Ari Glogower (Ohio State) presents Progressive Taxation of Income and Wealth today at Northwestern as as part of its Advanced Topics in Taxation Workshop Series hosted by Sarah Lawsky:

Rising economic inequality has led commentators to reassess the base for progressive taxation, and to argue that wealth should be taxed in addition to, or instead of, income. This Article claims that, if income and wealth should both be periodically taxed as factors in economic well-being, then taxing an integrated measure of both factors is preferable to taxing income and wealth under separate instruments. Separate income and wealth taxes cannot consistently compare taxpayers on the basis of their total economic well-being during the taxing period, and will favor or disfavor taxpayers depending whether their economic well-being results from income, wealth, or a combination thereof.

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September 20, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (4)

Tuesday, September 19, 2017

Barry Presents Tax And The Boundaries Of The Firm Today At Columbia

Barry (2017)Jordan Barry (San Diego) presents Tax and the Boundaries of the Firm (with Victor Fleischer (San Diego)) at Columbia today as part of its Davis Polk & Wardwell Tax Policy Colloquium Series hosted by Alex Raskolnikov and Wojciech Kopczuk:

How does the income tax shape the boundaries of the firm? This Article goes back to foundational ground — Coase’s inquiry into the nature of the firm— to gain some traction on this elementary question. ...

Part II revisits the literature on Coase and the boundaries of the firm, setting the stage for a discussion of how transaction cost economics can inform tax policy. Part III explores some of the ways in which the income tax distorts the boundary of the firm. In doing so, it provides numerous examples of provisions that can grow or shrink firms at the margin or alter the relative size of their components. It also discusses how firms can respond to income tax law incentives without significantly changing their economic behavior by engaging in regulatory arbitrage.

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September 19, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Monday, September 18, 2017

Bankman Presents The Global Battle To Capture MNE Profits Today At Loyola-L.A.

Bankman (2017)Joseph Bankman (Stanford) presents Collecting the Rent: The Global Battle to Capture MNE Profits (with Mitchell Kane (NYU) & Alan Sykes (Stanford)) at Loyola-L.A. today as part of its Tax Policy Colloquium Series hosted by Ellen Aprill and Katherine Pratt:

Multinational enterprises (MNEs) earn substantial rents in the current global economy. Governments have an interest in capturing some of these rents for their citizens or national treasuries, and regularly pursue policies to that end. Some rents are realized in the country in which the MNE is headquartered and domiciled. In theory, at least, that country (the "resident country") can collect these rents through its power to tax or regulate. Other rents are realized in nations outside that of the MNE's residence. Collection of these rents by nations in which the MNE operates, but does not reside, has proven more difficult.

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September 18, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Saturday, September 16, 2017

Should The United States Have A National Investment Authority?

On Tuesday, Boston College Law School welcomed Professor Saule Omarova (Cornell) as the first presenter in our inaugural Regulation and Markets Workshop Series. The paper (with Robert Hockett, also of Cornell) is entitled “Private Wealth and Public Goods: A Case for a National Investment Authority.” It’s available on SSRN.

In brief, the paper makes a two pronged contribution: First, a policy proposal for the creation of a National Investment Authority (NIA), a hybrid, public-private entity that directs private financial capital to fund long-term infrastructure and development projects; and second, a theoretical re-envisioning of what public goods are and how to provide them.

What is quite interesting from a tax and public finance perspective is that the NIA proposal aims to fill an institutional gap between the classic Treasury function and that of the central bank (the Fed). As Omarova and Hockett characterize it, the standard response to the public goods problem is to have Treasury, as the fiscal authority, collect tax payments (or borrow) and use the proceeds to finance public goods. However, they argue that political budget fights have rendered Treasury unable to advance large-scale and long-term public infrastructure investments. While the Fed has partially attempted to fill the gap and to encourage infrastructure investment using monetary policy tools, these tools are insufficient. As a result of the policy gap between the Treasury and Fed mandates, economic growth and development suffer.

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September 16, 2017 in Colloquia, Conferences, Scholarship, Tax | Permalink | Comments (0)

Monday, September 11, 2017

Schmalbeck Presents Nonprofit Organizations And Political Campaigns At Northwestern

Schmalbeck (2016)Richard L. Schmalbeck (Duke) presented Nonprofit Organizations and Political Campaigns at Northwestern as part of its Advanced Topics in Taxation Workshop Series hosted by Sarah Lawsky:

This story involves three organizational forms, and two broad policy considerations. There are more than a score of different nonprofit organizational categories described in the IRC, but only three are relevant here: the organizations described in sections 501(c)(3), 501(c)(4), and 527. All are exempt from federal income taxes on any excess of revenue over expense that they might experience in any tax year. The first category (charitable organizations under section 501(c)(3)) allows use of deductible contributions to advance its programmatic ends, and also permits anonymous donations. The second (social welfare organizations under section 501(c)(4)) allows anonymous donations (but no deduction for contributions). The third (political organizations under section 527) is subject to rules that compel disclosure of the names of contributors and amounts of their contributions.

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September 11, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Thursday, September 7, 2017

Hemel Presents In Defense Of The State And Local Tax Deduction Today At Boston College

HemelDaniel Hemel (Chicago) presents Easy on the SALT: In Defense of the Deduction for State and Local Taxes at Boston College today as part of its Tax Policy Workshop Series hosted by Jim Repetti, Diane Ring, and Shu Yi Oei:

Congressional Republicans and Trump administration officials have said that they plan to repeal the deduction for nonbusiness state and local taxes (SALT) as part of a comprehensive tax reform package. This essay critically examines the major arguments for repealing the SALT deduction. Repealing the deduction and using the resulting revenues to reduce federal rates across the board would likely lead to greater tax-induced deadweight loss overall. Repealing the deduction also would distort decisions about the financing of education and health care, which together account for more than half of all state and local government spending. Repeal would further encourage a shift from nonbusiness to business taxes at the state and local level, and potentially would result in more borrowing by subnational governments in the short and medium term.

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September 7, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (1)

Saturday, August 5, 2017

Turing on AI and Lawyer-Automatons

As I've mentioned previously, the Savannah Law Review is hosting a colloquium on September 15, 2017 entitled The Rise of the Automatons, examining the legal implications of automation.  Ominous predictions like "the Singularity is coming" usually provoke me, and this one prompted my project for this summer, Halting, Intuition, Heuristics, and Action: Alan Turing and the Theoretical Constraints on AI-Lawyering, now available.  

I'm unimpressed with frenzied reactions generally and in this area particularly. Here's the abstract:

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August 5, 2017 in Colloquia, Legal Education, Scholarship, Teaching | Permalink | Comments (1)

Thursday, August 3, 2017

Holderness Presents Questioning Quill At Ohio State

Holderness (2017)Hayes R. Holderness Jr. (Richmond) presented Questioning Quill yesterday at Ohio State as part of its Summer Faculty Workshop Series:

The physical presence rule of Quill Corp. v. North Dakota is under increasing attack from the Kill Quill movement. This rule prohibits states from requiring remote vendors to collect use taxes on goods sold into the states. As a petition to the Supreme Court for certiorari in a case directly challenging the rule grows closer, the case for certiorari remains cloudy. Technology and the economy have changed in the 25 years since Quill was decided, but are these changes enough to convince the Court to rehear the case?

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August 3, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Monday, June 12, 2017

Marian Presents The Making Of International Tax Law: Empirical Evidence From Natural Language Processing Today In Germany

Marian (2016)Omri Marian (UC-Irvine) presents The Making of International Tax Law: Empirical Evidence from Natural Language Processing (with Elliott Ash (Princeton)) at the University of Heidelberg today:

We offer the first attempt at empirically testing the level of transnational consensus on the legal language controlling international tax matters. We also investigate the institutional framework of such consensus-building. We build a dataset of 4,052 bilateral income tax treaties, as well as 16 model tax treaties published by the United Nations (UN), Organisation for Economic Co-operation and Development (OECD) and the United States. We use natural language processing to perform pair-wise comparison of all treaties in effect at any given year. We identify clear trends of convergence of legal language in bilateral tax treaties since the 1960s, particularly on the taxation of cross-border business income.

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June 12, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Tuesday, May 9, 2017

Pepperdine Tax Policy Workshop Series (Spring 2017)

Thanks to the faculty and students who made our Spring 2017 Pepperdine Tax Policy Workshop Series such a rousing success:

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May 9, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)

Monday, May 1, 2017

Vann Presents International Tax Post-BEPS — Is The Corporate Tax Really All That Bad? Today At NYU

VannRichard Vann (University of Sydney) presents International Tax Post-BEPS: Is the Corporate Tax Really All That Bad? (with Ray Rees (University of Oslo)) at NYU today as part of its Tax Policy Colloquium Series hosted by Daniel Shaviro and Rosanne Altshuler:

The corporate income tax has been getting a particularly bad press from academic economists for over three decades, as one of the most inefficient tax instruments currently used by governments. The criticism of the corporate income tax has been matched by a similar bad press for taxation of capital income generally. More recently these views have come to be accepted both at the national and international levels by government policy makers, who indeed have become strong advocates of such changes.

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May 1, 2017 in Colloquia, Scholarship, Tax | Permalink | Comments (0)