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The Death of the Income Tax (Or, the Rise of America's Universal Wage
Indiana Law Journal Volume 95 Issue 4 Article 5 Fall 2000 The Death of the Income Tax (or, The Rise of America’s Universal Wage Tax) Edward J. McCaffery University of Southern California;California Institute of Tecnology, [email protected] Follow this and additional works at: https://www.repository.law.indiana.edu/ilj Part of the Estates and Trusts Commons, Law and Economics Commons, Taxation-Federal Commons, Taxation-Federal Estate and Gift Commons, Taxation-State and Local Commons, and the Tax Law Commons Recommended Citation McCaffery, Edward J. (2000) "The Death of the Income Tax (or, The Rise of America’s Universal Wage Tax)," Indiana Law Journal: Vol. 95 : Iss. 4 , Article 5. Available at: https://www.repository.law.indiana.edu/ilj/vol95/iss4/5 This Article is brought to you for free and open access by the Law School Journals at Digital Repository @ Maurer Law. It has been accepted for inclusion in Indiana Law Journal by an authorized editor of Digital Repository @ Maurer Law. For more information, please contact [email protected]. The Death of the Income Tax (or, The Rise of America’s Universal Wage Tax) EDWARD J. MCCAFFERY* I. LOOMINGS When Representative Alexandria Ocasio-Cortez, just weeks into her tenure as America’s youngest member of Congress, floated the idea of a sixty or seventy percent top marginal tax rate on incomes over ten million dollars, she was met with a predictable mixture of shock, scorn, and support.1 Yet there was nothing new in the idea. AOC, as Representative Ocasio-Cortez is popularly known, was making a suggestion with sound historical precedent: the top marginal income tax rate in America had exceeded ninety percent during World War II, and stayed at least as high as seventy percent until Ronald Reagan took office in 1981.2 And there is an even deeper sense in which AOC’s proposal was not as radical as it may have seemed at first. -
An Analysis of a Consumption Tax for California
An Analysis of a Consumption Tax for California 1 Fred E. Foldvary, Colleen E. Haight, and Annette Nellen The authors conducted this study at the request of the California Senate Office of Research (SOR). This report presents the authors’ opinions and findings, which are not necessarily endorsed by the SOR. 1 Dr. Fred E. Foldvary, Lecturer, Economics Department, San Jose State University, [email protected]; Dr. Colleen E. Haight, Associate Professor and Chair, Economics Department, San Jose State University, [email protected]; Dr. Annette Nellen, Professor, Lucas College of Business, San Jose State University, [email protected]. The authors wish to thank the Center for California Studies at California State University, Sacramento for their [email protected]; Dr. Colleen E. Haight, Associate Professor and Chair, Economics Department, San Jose State University, [email protected]; Dr. Annette Nellen, Professor, Lucas College of Business, San Jose State University, [email protected]. The authors wish to thank the Center for California Studies at California State University, Sacramento for their funding. Executive Summary This study attempts to answer the question: should California broaden its use of a consumption tax, and if so, how? In considering this question, we must also consider the ultimate purpose of a system of taxation: namely to raise sufficient revenues to support the spending goals of the state in the most efficient manner. Recent tax reform proposals in California have included a business net receipts tax (BNRT), as well as a more comprehensive sales tax. However, though the timing is right, given the increasingly global and digital nature of California’s economy, the recent 2008 recession tabled the discussion in favor of more urgent matters. -
The OECD's "Action Plan"
Working Paper Series WP 15-14 SEPTEMBER 2015 The OECD’s “Action Plan” to Raise Taxes on Multinational Corporations Gary Hufbauer, Euijin Jung, Tyler Moran, and Martin Vieiro Abstract Th e Organization for Economic Cooperation and Development (OECD) has embarked on an ambitious multipart project, titled Base Erosion and Profi t Shifting (BEPS), with 15 “Actions” to prevent multinational corporations (MNCs) from escaping their “fair share” of the tax burden. Although the tax returns of these MNCs comply with the laws of every country where they do business, the proposition that MNCs need to pay more tax enjoys considerable political resonance as government budgets are strained, the world economy is struggling, income inequality is rising, and the news media have publicized instances of corporations legally lowering their global tax burdens by reporting income in low-tax juris- dictions and expenses in high-tax jurisdictions. To achieve the goal of increasing taxes on MNCs, the OECD—spurred by G-20 fi nance ministers—recommends changes in national legislation, revision of existing bilateral tax treaties, and a new multilateral agreement for participating countries. Th is working paper provides a critical evaluation, from the standpoint of US economic interests, of each of the OECD plan’s 15 Actions. Given that the US system taxes MNCs more heavily than other advanced countries and provides fewer tax-incentives for research and development (R&D), implementation of the BEPS Actions would drive many MNCs to “invert” (i.e., relocate their headquarters to tax-friendly countries) and others to off shore signifi cant amounts of R&D activity. -
The Future of American Tax Administration: Conceptual Alternatives and Political Realities
Florida State University College of Law Scholarship Repository Scholarly Publications 2016 The Future of American Tax Administration: Conceptual Alternatives and Political Realities Steve R. Johnson Florida State University College of Law Follow this and additional works at: https://ir.law.fsu.edu/articles Part of the Administrative Law Commons, Taxation-Federal Commons, and the Tax Law Commons Recommended Citation Steve R. Johnson, The Future of American Tax Administration: Conceptual Alternatives and Political Realities, 7 COLUM. J. TAX L. 5 (2016), Available at: https://ir.law.fsu.edu/articles/237 This Article is brought to you for free and open access by Scholarship Repository. It has been accepted for inclusion in Scholarly Publications by an authorized administrator of Scholarship Repository. For more information, please contact [email protected]. ARTICLES THE FUTURE OF AMERICAN TAX ADMINISTRATION: CONCEPTUAL ALTERNATIVES AND POLITICAL REALITIES Steve R. Johnson* * University Professor, Florida State University College of Law, [email protected]. I thank the participants in the conference at which this paper originally was discussed: the March 2015 Tax Policy Symposium: Reforming the IRS sponsored by the University of Minnesota Law School Corporate Institute Forum on Taxation and Regulation. © 2016 Johnson. This is an open-access publication distributed under the terms of the Creative Commons Attribution License, https://creativecommons.org/licenses/by/4.0/, which permits the user to copy, distribute, and transmit the work provided that the original authors and source are credited. 6 COLUMBIA JOURNAL OF TAX LAW [Vol.7:5 I. INTERSECTING FORCES AND CURRENT CRISIS .............................................. 8 A. The Perfect Storm .................................................................................................. 8 1. -
The New International Tax Regime Rebecca M
THE YALE LAW JOURNAL FORUM O CTOBER 25, 2018 Critiquing (and Repairing) the New International Tax Regime Rebecca M. Kysar abstract. In this Essay, I address three serious problems created—or left unaddressed—by the new U.S. international tax regime. First, the new international rules aimed at intangible in- come incentivize offshoring and do not sufficiently deter profit shifting. Second, the new patent box regime is unlikely to increase innovation, can be easily gamed, and will create difficulties for the United States at the World Trade Organization. Third, the new inbound regime has too gen- erous of thresholds and can be readily circumvented. There are ways, however, to improve upon many of these shortcomings through modest and achievable legislative changes, eventually paving the way for more ambitious reform. These recommendations, which I explore in detail below, in- clude moving to a per-country minimum tax, eliminating the patent box, and strengthening the new inbound regime. Even if Congress were to enact these possible legislative fixes, however, it would be a grave mistake for the United States to become complacent in the international tax area. In addition to the issues mentioned above, the challenges of the modern global economy will con- tinue to demand dramatic revisions to the tax system. introduction The Tax Cuts and Jobs Act of 2017 (TCJA)1 significantly changed the way the United States taxes multinational corporations on their cross-border income. The legislation, however, both failed to solve old problems in the international system and opened the door to new ones. Furthermore, the legislation will de- plete government resources, holding the United States back in the twentieth cen- tury rather than propelling it to be a competitive force and source of general wellbeing for its citizens in the current one. -
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Tax Return (Indiana State University Foundation TX1018 [6/30/2018] (In
Return of Organization Exempt From Income Tax OMB No. 1545-0047 Form 990 À¾µ» Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) I Do not enter social security numbers on this form as it may be made public. Open to Public Department of the Treasury I Internal Revenue Service Go to www.irs.gov/Form990 for instructions and the latest information. Inspection A For the 2017 calendar year, or tax year beginning 07/01 , 2017, and ending 06/30, 20 18 C Name of organization D Employer identification number B Check if applicable: INDIANA STATE UNIVERSITY FOUNDATION, INC 35-6045550 Address change Doing business as Name change Number and street (or P.O. box if mail is not delivered to street address) Room/suite E Telephone number Initial return 30 N. FIFTH STREET (812) 237-6100 Final return/ City or town, state or province, country, and ZIP or foreign postal code terminated Amended TERRE HAUTE, IN 47809 G Gross receipts $ 26,861,307. return Application F Name and address of principal officer: ANDREA L. ANGEL H(a) Is this a group return for Yes X No pending subordinates? 30 N. FIFTH STREET TERRE JHAUTE, IN 47809 H(b) Are all subordinates included? Yes No I Tax-exempIt status: X 501(c)(3) 501(c) ( ) (insert no.) 4947(a)(1) or 527 If "No," attach a list. (see iInstructions) J Website: WWW.INDSTATEFOUNDATION.ORG I H(c) Group exemption number K Form of organization: X Corporation Trust Association Other L Year of formation: 1928 M State of legal domicile: IN Part I Summary 1 Briefly describe the organization's mission or most significant activities: THE FOUNDATION INSPIRES OTHERS TO e BECOME INVOLVED IN THE LIFE OF INDIANA STATE UNIVERSITY AND SECURES c n a THE SOURCES TO ENSURE THE UNIVERSITY'S GROWTH AND SUCCESS n r I e 2 Check this box if the organization discontinued its operations or disposed of more than 25% of its net assets. -
Vermont Sales Tax Exemption Certificate J for Form RESALE and EXEMPT ORGANIZATIONS S-3 Ii~ -:~ · U - 32 V.S.A
Vermont Department of Taxes 133 State Street • P.O. Box 547 • Montpelier, Vermon t 05601-0547 SALES AND USE TAX REGISTRATION THIS LI CENSE IS HERBY ISSUED TO UN IVE RSITY or MAIN E SYSTEM LOCATED AT 16 CENTR AL ST, BANGOR, ME UN DER THE PROV ISIONS OF CHAPTER 233, 32 V.S .A. AN D MUST BE SU R.RENDER.ED UPON SA LE, TRANS FER, MERGE R OR TER.M rNATION OF BUS INESS, OR UPON REVOCATION OF THE LI CENSE. UN I VE RSITY Of MAINE SYS TEM 1 6 CENTRAL STREET BAN GO R, ME 04401 CommissionerofTaxes This license is issued effective October I, 2007 to Vermont busi ness tax account number 450-0 I 6000769F-OI. It is not transferable (See other side). Display this license ill a prominent place at the business location. Vermont Sales Tax Exemption Certificate j for Form RESALE AND EXEMPT ORGANIZATIONS S-3 ii~ -:~ · u - 32 V.S.A. §9701 (5}; §9743(1 )-(3) To be filed with the SELLER, not with the VT Department ofTaxes. D Single Purchase - Enter Purchase Price$ ________ D Multiple Purchase (effective for subsequent purchases.) Federal ID Number Stale Zip State Zip Description Description of purchased articles: Basis for Exemption D For resale/wholesale. Vermont Account Number: ___ _ _ _ _ _ ______ D Purchase by 50 l(c)(3) organization which is reli gious, educational, or scientifi c. Vermont Account Number: ---------------------~ D Direct payment by Federal or Vermont governmental unit D Purchase by volunteer fire department, ambulance company, rescue squad (Registration is not required.) I certify that, to the best of my knowledge and belief, the statements provided here are true and correct. -
Tax Reform Options: Marginal Rates on High-Income Taxpayers, Capital Gains, and Dividends
Embargoed Until 10am September 14, 2011 Statement of Leonard E. Burman Daniel Patrick Moynihan Professor of Public Affairs Maxwell School Syracuse University Before the Senate Committee on Finance Tax Reform Options: Marginal Rates on High-Income Taxpayers, Capital Gains, and Dividends September 14, 2011 Chairman Baucus, Ranking Member Hatch, Members of the Committee. Thank you for inviting me to testify on tax reform options affecting high-income taxpayers. I applaud the committee for devoting much of the past year to examining ways to make the tax code simpler, fairer, and more conducive to economic growth, and I’m honored to be asked to contribute to those deliberations. In summary, here are my main points: Economic theory suggests that the degree of progressivity should balance the gains from mitigating economic inequality and risk-sharing against the costs in terms of disincentives created by higher tax rates. The optimal top tax rate depends on social norms and the government’s revenue needs. Experience and a range of empirical evidence suggests that the rates in effect in the 1990s would not unduly diminish economic growth. However, a more efficient option would be to broaden the base (reform or eliminate tax expenditures and eliminate loopholes) to achieve distributional goals while keeping top rates relatively low. The biggest loophole is the lower tax rate on capital gains. Several bipartisan tax reform plans, including the Bipartisan Policy Center plan that I contributed to, would tax capital gains at the same rate as other income. Combined with a substantial reduction in tax expenditures, this allows for a cut in top income rates while maintaining the progressivity of the tax system. -
Pub. KS-1510 Sales Tax and Compensating Use Tax Booklet Rev
Sales Tax and Compensating Use Tax NOTE: Underlying law may have changed. See Revenue Notice 19-04 concerning nexus. Welcome to the Kansas business community! This publication has been prepared by the Kansas Department of Revenue (KDOR) to assist you in understanding how the Kansas sales and use tax applies to your business operation. Inside you will find information on what is taxable, what is exempt, how to collect, report, and pay your sales and use tax electronically, and other information of general interest to businesses. Our goal is to make collecting and paying these taxes as easy as possible and to help you avoid costly sales or use tax deficiencies. By law, businesses are now required to submit their Sales, Compensating Use and Withholding Tax returns electronically. Kansas offers several electronic file and pay solutions – see page 16. For the most up-to-date electronic information, visit our website. ksrevenue.org Pub KS-1510 (Rev. 12-20) TABLE OF CONTENTS KANSAS SALES TAX ........................................ 3 KANSAS CUSTOMER SERVICE CENTER ...... 16 Local Sales Tax File, Pay and Make Updates Electronically Distribution of Revenue What Can I Do Electronically Sales Tax and Your Business Requirement to File and Pay Pay By Credit Card SALES THAT ARE TAXABLE ........................... 3 Wire Transfers Retail Sale, Rental or Lease of Tangible Personal Property RETAILERS SALES TAX ................................... 17 Taxable Services Completing the ST-16 Form Type Admissions Sample Completed Sales Tax Filings SALES TAX EXEMPTIONS ............................... 6 COMPENSATING USE TAX .............................. 20 Exempt Buyers Consumers’ Compensating Use Tax Buyers Who are Not Exempt Reporting and Paying Consumers’ Items Exempt from Sales Tax Compensating Use Tax Uses That Are Exempt Sample Completed CT-10U filing Other Special Situations Retailers’ Compensating Use Tax Reciprocal Discounts KANSAS EXEMPTION CERTIFICATES.......... -
Tax Penalties and Tax Compliance
Georgetown University Law Center Scholarship @ GEORGETOWN LAW 2009 Tax Penalties and Tax Compliance Michael Doran [email protected] This paper can be downloaded free of charge from: https://scholarship.law.georgetown.edu/facpub/915 http://ssrn.com/abstract=1314401 46 Harv. J. on Legis. 111-161 (2009) This open-access article is brought to you by the Georgetown Law Library. Posted with permission of the author. Follow this and additional works at: https://scholarship.law.georgetown.edu/facpub Part of the Taxation-Federal Commons, and the Tax Law Commons ARTICLE TAX PENALTIES AND TAX COMPLIANCE MICHAEL D ORAN* This Article examines the relationship between tax penalties and tax compliance. Conventional accounts, drawing from deterrence theory and norms theory, as- sume that the relationship is purely instrumental—that the function of tax penal- ties is solely to promote tax compliance. This Article identifies another aspect of the relationship that generally has been overlooked by the existing literature: the function of tax penalties in defining tax compliance. Tax penalties determine the standards of conduct that satisfy a taxpayer’s obligations to the government; they distinguish compliant taxpayers from non-compliant taxpayers. This Article argues that tax compliance in a self-assessment system should require the tax- payer to report her tax liabilities only on the basis of legal positions that she reasonably and in good faith believes to be correct. But the accuracy penalties provided under current law set much lower standards of conduct. In the case of a non-abusive transaction, current law allows the taxpayer to base her self- assessment on a position having as little as a one-in-five chance in prevailing. -
EFFECTS of the TAX CUTS and JOBS ACT: a PRELIMINARY ANALYSIS William G
EFFECTS OF THE TAX CUTS AND JOBS ACT: A PRELIMINARY ANALYSIS William G. Gale, Hilary Gelfond, Aaron Krupkin, Mark J. Mazur, and Eric Toder June 13, 2018 ABSTRACT This paper examines the Tax Cuts and Jobs Act (TCJA) of 2017, the largest tax overhaul since 1986. The new tax law makes substantial changes to the rates and bases of both the individual and corporate income taxes, cutting the corporate income tax rate to 21 percent, redesigning international tax rules, and providing a deduction for pass-through income. TCJA will stimulate the economy in the near term. Most models indicate that the long-term impact on GDP will be small. The impact will be smaller on GNP than on GDP because the law will generate net capital inflows from abroad that have to be repaid in the future. The new law will reduce federal revenues by significant amounts, even after allowing for the modest impact on economic growth. It will make the distribution of after-tax income more unequal, raise federal debt, and impose burdens on future generations. When it is ultimately financed with spending cuts or other tax increases, as it must be in the long run, TCJA will, under the most plausible scenarios, end up making most households worse off than if TCJA had not been enacted. The new law simplifies taxes in some ways but creates new complexity and compliance issues in others. It will raise health care premiums and reduce health insurance coverage and will have adverse effects on charitable contributions and some state and local governments. -
The Dangers of Symbolic Legislation: Perceptions and Realities of the New Burden-Of-Proof Rules
Florida State University College of Law Scholarship Repository Scholarly Publications 3-1999 The Dangers of Symbolic Legislation: Perceptions and Realities of the New Burden-of-Proof Rules Steve R. Johnson Florida State University College of Law Follow this and additional works at: https://ir.law.fsu.edu/articles Part of the Law Commons Recommended Citation Steve R. Johnson, The Dangers of Symbolic Legislation: Perceptions and Realities of the New Burden-of- Proof Rules, 84 IOWA LAW REVIEW 413 (1999), Available at: https://ir.law.fsu.edu/articles/253 This Article is brought to you for free and open access by Scholarship Repository. It has been accepted for inclusion in Scholarly Publications by an authorized administrator of Scholarship Repository. For more information, please contact [email protected]. The Dangers of Symbolic Legislation: Perceptions and Realities of the New Burden-of-Proof Rules Steve R. Johnson* There is a growing political science and legal literature on the use of symbolism in the political and legislative process.' Tax law is a natural arena for such inquiry as tax law touches virtually every type of human in- teraction, is heavily value-driven, and is a perennial political battleground.' This article examines a recent tax law change-the enactment of new bur- den-of-proof rules in the summer of 1998--concluding that it is a perni- cious exercise in symbolic legislation. Burden-of-proof rules determine how much evidence a party must in- troduce at trial in order to prevail. In theory, a dispute-resolution system could operate without established burden-of-proof rules, but such a system would impose greater demands of perspicacity on its triers of fact and likely would be less predictable as to its outcomes? Thus, discussion and debate about what burden-of-proof rules should prevail have been part of our legal *Associate Professor of Law, Indiana University School of Law-Bloomington.