Judicial Decisions as Tax Legislation

Written by: Nancy C. Staudt[*] René Lindstaedt and Jason O’Connor ABSTRACT This article provides a new understanding of the Court-Congress dynamic. It responds to an important literature that for several decades now has misconstrued inter- branch relations as fraught with antagonism, hostility, and distrust. This unfriendly dynamic, it is argued, is evidenced by the repeated congressional overrides of Supreme...

Taxing Shared Economies of Scale

ABSTRACT Economies of scale exist if long-run average costs decline as output rises. All else being equal, the decline in average costs should lead to greater profitability, making economies of scale attractive to businesses. Nobel laureate George Stigler recognized that economies of scale should help determine the optimum size of a firm. To obtain economies of scale and optimum firm size, parties may integrate resources...

Case Study Research and International Tax Theory

Abstract Over the last ten years, legal scholars have begun to use what they describe as “case studies” in an effort to develop better theories about how governments can or should impose taxation on international activities. The attributes and function of case studies, while well-studied and documented in other disciplines, has not been explored in tax law scholarship. This Article explores case study research...

The Economics of the Estate Tax: An Update

Executive Summary This analysis examines the arguments for and against the federal estate tax and concludes that the estate tax generates costs to taxpayers, the economy, and the environment that far exceed any potential benefits that it might arguably produce. • The existence of the estate tax has reduced the stock of capital in the economy by approximately $497 billion, or 3.2 percent. • The estate tax...

Barriers to Mobility: The Lockout Effect of U.S. Taxation of Worldwide Corporate Profits

Written by: John R. Graham, Michelle Hanlon and Terry Shevlin I. INTRODUCTION In a frictionless world, capital would flow freely across countries. Within multinational firms, capital would be allocated across divisions, regardless of the location of those divisions, to maximize marginal product and firm value. In reality, tax laws create barriers to capital mobility. Taxes also create incentives for firms to expend...

Canada-U.S. Free Trade and Pressures for Tax Coordination

The economies of the United States and Canada are closely linked-trade between the two countries is substantial, their capital markets are highly integrated, and even movement of individual workers between the two countries is nonnegligible. The U.S. and Canada have now agreed to eliminate all remaining tariff barriers between the two countries during the next few years. To what degree does this increasing economic integration...

Optimal Indirect Taxation Under Imperfect Competition

1. Introduction It is commonly suggested in economic textbooks that indirect taxation or market power generates “deadweight loss” or “excess burden” to society, because they distorts the relative prices of commodities. The magnitudes of the welfare losses depend on the slopes of demand and supply (or marginal cost) curves. In order to minimize the aggregate deadweight loss, an optimal indirect tax structure...

Managing Funds for After Tax Returns: Unresolved Issues About Unrealised Gains

Managing a portfolio for after tax returns can be difficult and expensive and the paper reviews some perceived difficulties with managing a portfolio for after tax returns, actual practices used by managers and five methods for reporting after tax returns to investors and potential investors under Australian tax conditions. The value of unrealised gains in a portfolio is not quite clear as, even though it is considered...

Global Trends and Constraints on Tax Policy in the Least Developed Countries

Through decades of tax reform and cross-border collaboration, the world’s wealthiest countries have adopted domestic tax policy norms that meet their mutually beneficial interests. But these norms have introduced rigorous change and increasingly rigid parameters for tax policy in the world’s poorest countries. While much scholarly attention is devoted to identifying tax strategies that poor countries could or should...

Historic, Comparative and Evolutionary Analysis of Tax Systems

1.INTRODUCTION Tax reform is a constant process in most nations as governments continuously revisit their tax systems in response to economic, social, and political forces. Domestic legislative processes involving national lawmakers may be the most obvious source of change in the tax system in any independent nation, but international events, institutions, and individuals—while comparatively much less studied—are...

The Play’s the Thing: A Theory of Taxing Virtual Worlds

Introduction Taxation is shadow life. As our culture monetizes more and more life activities, the shadow grows. This Article looks at the potential tax issues arising from a new life activity: online role-playing games in virtual worlds. Currently, some thirty million people regularly play such games and the number is growing.[1] Exploring the reach of the Tax Code into virtual world transactions not only responds...

Contextual Analysis of Tax Ownership

Ownership is one of the most fundamental concepts in tax law, yet it is remarkably confused. The uncertainty inhibits tax planning, leads to inconsistent responses from the government, and produces unexpected outcomes in the courts. There has been no shortage of scholarly attention to the issue, but most of the commentary has been either exceedingly narrow or focused on far-reaching reforms. As a result, the law of tax...
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