U.S. Tax Imperialism in Puerto Rico
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A Brief Description of Federal Taxes
A BRIEF DESCRIFTION OF FEDERAL TAXES ON CORPORATIONS SINCE i86i WMUAu A. SU. ND* The cost to the federal government of financing the Civil War created a need for increased revenue, and Congress in seeking new sources tapped theretofore un- touched corporate and individual profits. The Act of July x, x862, amending the Act of August 5, x86i, is the first law under which any federal income tax was collected and is considered to be largely the basis of our present system of income taxation. The tax acts of the Civil War period contained provisions imposing graduated taxes upon the gain, profits, or income of every person2 and providing that corporate profits, whether divided or not, should be taxed to the stockholders. Certain specified corporations, such as banks, insurance companies and transportation companies, were taxed at the rate of 5%, and their stockholders were not required to include in income their pro rata share of the profits. There were several tax acts during and following the War, but a description of the Act of 1864 will serve to show the general extent of the coiporate taxes of that period. The tax or "duty" was imposed upon all persons at the rate of 5% of the amount of gains, profits and income in excess of $6oo and not in excess of $5,000, 7Y2/ of the amount in excess of $5,ooo and not in excess of -$o,ooo, and io% of the amount in excess of $Sxooo.O This tax was continued through the year x87i, but in the last two years of its existence was reduced to 2/l% upon all income. -
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. -
SPRING 2012 25 a Nuyorican Absurdist: Pedro Pietri and His Plays of Happy Subversion David Crespy
SPRING 2012 25 A Nuyorican Absurdist: Pedro Pietri and His Plays of Happy Subversion David Crespy Jerzy Grotowski once wrote of the visionary Antonin Artaud, “He wasn’t entirely himself;” the same might be said of the late poet Pedro Pietri—who wasn’t entirely himself since he began writing plays (Grotowski 117). Pietri’s body of plays, having been produced in New York since the late sixties and early seventies, recommends itself as an example of the wave of Nuyorican theatre in the US prominent at that time—characterized by experimentation in form and the merging of social issues within that form (Mohr 92). For Raphael Dalleo and Elena Machado Sáez, Pietri is a transi- tional figure, moving from the “anti-colonial project” of his early 60’s poetry to “reconcile himself to the emergence of the Post-Sixties Order” and, in so doing, reaching out to a broader audience (Dalleo and Sáez 12). After the 1960s, Pietri chose to “disorient” himself from the mass of populist social- realism that had characterized much of Latino/a playwriting prevalent before and up to the late 1960s, and to find his voice in his own brand of Nuyorican absurdism that has at its heart “a strong affirmation of puertorriqueñismo, pride in one’s essence and heritage” (Mohr 95). Reading Pietri is a great deal like reading Ionesco; there is the same cheerful dismemberment of language, the same static violence, and above all, a calculated disorientation which serves to scourge and reinvest language (in this case, three languages: English, Spanish, and Spanglish) in ways which skew all reasoned attempts to make sense. -
View Centro's Film List
About the Centro Film Collection The Centro Library and Archives houses one of the most extensive collections of films documenting the Puerto Rican experience. The collection includes documentaries, public service news programs; Hollywood produced feature films, as well as cinema films produced by the film industry in Puerto Rico. Presently we house over 500 titles, both in DVD and VHS format. Films from the collection may be borrowed, and are available for teaching, study, as well as for entertainment purposes with due consideration for copyright and intellectual property laws. Film Lending Policy Our policy requires that films be picked-up at our facility, we do not mail out. Films maybe borrowed by college professors, as well as public school teachers for classroom presentations during the school year. We also lend to student clubs and community-based organizations. For individuals conducting personal research, or for students who need to view films for class assignments, we ask that they call and make an appointment for viewing the film(s) at our facilities. Overview of collections: 366 documentary/special programs 67 feature films 11 Banco Popular programs on Puerto Rican Music 2 films (rough-cut copies) Roz Payne Archives 95 copies of WNBC Visiones programs 20 titles of WNET Realidades programs Total # of titles=559 (As of 9/2019) 1 Procedures for Borrowing Films 1. Reserve films one week in advance. 2. A maximum of 2 FILMS may be borrowed at a time. 3. Pick-up film(s) at the Centro Library and Archives with proper ID, and sign contract which specifies obligations and responsibilities while the film(s) is in your possession. -
RESTORING the LOST ANTI-INJUNCTION ACT Kristin E
COPYRIGHT © 2017 VIRGINIA LAW REVIEW ASSOCIATION RESTORING THE LOST ANTI-INJUNCTION ACT Kristin E. Hickman* & Gerald Kerska† Should Treasury regulations and IRS guidance documents be eligible for pre-enforcement judicial review? The D.C. Circuit’s 2015 decision in Florida Bankers Ass’n v. U.S. Department of the Treasury puts its interpretation of the Anti-Injunction Act at odds with both general administrative law norms in favor of pre-enforcement review of final agency action and also the Supreme Court’s interpretation of the nearly identical Tax Injunction Act. A 2017 federal district court decision in Chamber of Commerce v. IRS, appealable to the Fifth Circuit, interprets the Anti-Injunction Act differently and could lead to a circuit split regarding pre-enforcement judicial review of Treasury regulations and IRS guidance documents. Other cases interpreting the Anti-Injunction Act more generally are fragmented and inconsistent. In an effort to gain greater understanding of the Anti-Injunction Act and its role in tax administration, this Article looks back to the Anti- Injunction Act’s origin in 1867 as part of Civil War–era revenue legislation and the evolution of both tax administrative practices and Anti-Injunction Act jurisprudence since that time. INTRODUCTION .................................................................................... 1684 I. A JURISPRUDENTIAL MESS, AND WHY IT MATTERS ...................... 1688 A. Exploring the Doctrinal Tensions.......................................... 1690 1. Confused Anti-Injunction Act Jurisprudence .................. 1691 2. The Administrative Procedure Act’s Presumption of Reviewability ................................................................... 1704 3. The Tax Injunction Act .................................................... 1707 B. Why the Conflict Matters ....................................................... 1712 * Distinguished McKnight University Professor and Harlan Albert Rogers Professor in Law, University of Minnesota Law School. -
Misc Publications MP-02
TAX FOUNDATION, INC. 50 Rockefeller Plaz a New York, N. Y. August 15, 1940 1 FORMM This conrpilation and bibliography are presented in th e hone that they will contribute to a fuller understanding of a difficult and at times controversial subject . In selecting the materials included an effort was made to obtain a cross section of opinions cnnd points of view . Attention is directed to the bibliograpay of periodical and special materials on war, profit s and excess profits thxation issued from 1916 to 1940. In the light of recent event s, the body of literature developed as P. result of our experience with those forms of taxation during and immodiately after the War of 1914--1919 has assumed anew significance . August 15, 1940 xA FOUIMATION 0 At Page Current Proposals 1 Some Aspects of the Profit-Tax Bill 2 The Excess-Profits Tart 3 Taxation and National Defense 4 Holding Up Defense 5 Excess-Profit Tax Hinges on Business 6 The Revenue Angle 7 The Basis 11or An Excess-Profits Tax 9 The Valuation cf Business Investments 9 Effects of Excess Profits Taxes 1 0 Excess Profits Tax : A Wartime Measure 11 Excess Profits Taxes, 1933 o 1940 1 2 The World War and Postwar Pederal :Taxation 1 3 Wartime Taxes on Profits 14 LIST OF TABLE S National Defense Expenditures, Fiscal Years 1928-1941 15 Taxes, Not Income and Dividends of All Activ e Corporations in the United States 16 Effects of Tax Increases 1 7 Table Showing 7,899 Representative Corporations Classified According to Amount of Invested Capital and R :titio of Net Income to Invested Capital During tho Taxable Year 18 Excess-Profits Taxes of Twelve Coal Companies 19 BIBLIOGRAPHY :Bibliographer on Par Profits and Excoss Profits Taxos 20 1 . -
The Progressive Movement and the Reforming of the United States of America, from 1890 to 1921
2014 Democratic and Popular Republic of Algeria. Ministry of Higher Education and Scientific Research. University of Oran. Faculty of Letters, Languages, and Arts. Department of English. Research Paper Submitted for a Doctorate Thesis in American Civilisation Entitled: The Progressive Movement and the Reforming of the United States of America, from 1890 to 1921. Presented by: Benketaf, Abdel Hafid. Jury Members Designation University Pr. Bouhadiba, Zoulikha President Oran Pr. Borsali, Fewzi Supervisor Adrar Pr. Bedjaoui, Fouzia Examiner 1 Sidi-Belabes Dr. Moulfi, Leila Examiner 2 Oran Dr. Belmeki, Belkacem Examiner 3 Oran Dr. Afkir, Mohamed Examiner 4 Laghouat Academic Year: 2013-2014. 1 Acknowledgements Acknowledgments are gratefully made for the assistance of numerous friends and acquaintances. The largest debt is to Professor Borsali, Fewzi because his patience, sound advice, and pertinent remarks were of capital importance in the accomplishment of this thesis. I would not close this note of appreciation without alluding to the great aid provided by my wife Fatima Zohra Melki. 2 Dedication To my family, I dedicate this thesis. Pages Contents 3 List of Tables. ........................................................................................................................................................................ vi List of Abbreviations......................................................................................................................................................... vii Introduction. ........................................................................................................................................................................ -
An Overview of the Special Tax Rules Related to Puerto Rico and an Analysis of the Tax and Economic Policy Implications of Recent Legislative Options
AN OVERVIEW OF THE SPECIAL TAX RULES RELATED TO PUERTO RICO AND AN ANALYSIS OF THE TAX AND ECONOMIC POLICY IMPLICATIONS OF RECENT LEGISLATIVE OPTIONS ____________ Prepared by the Staff of the JOINT COMMITTEE ON TAXATION June 23, 2006 JCX-24-06 Contents Page INTRODUCTION .......................................................................................................................... 1 I. EXECUTIVE SUMMARY............................................................................................. 2 A. Introduction................................................................................................................ 2 B. Overview of the U.S. Tax and Non-Tax Rules Related to U.S. Possessions............. 2 C. Special Tax Rules Related to Puerto Rico ................................................................. 3 D. Statehood, Commonwealth, and Independence Status .............................................. 5 E. Economic Analysis.................................................................................................... 5 F. Legislative Options.................................................................................................... 6 II. PRESENT LAW TAX PROVISIONS RELATED TO PUERTO RICO AND OTHER U.S. POSSESSIONS ....................................................................................... 13 A. Overview of U.S. Tax Provisions Relating to Puerto Rico...................................... 13 1. In general.......................................................................................................... -
Real Property Like-Kind Exchanges Since 1921, the Internal Revenue
Real Property Like-kind Exchanges Since 1921, the Internal Revenue Code has recognized that the exchange of one property held for investment or business use for another property of a like-kind results in no change in the economic position of the taxpayer and therefore should not result in the imposition of tax. This concept is codified today in section 1031 of the Internal Revenue Code with respect to the exchange of real and personal property, and it is one of many nonrecognition provisions in the Code that provide for deferral of gains. The Obama Administration’s fiscal year 2015 budget targets section 1031 by substantially repealing the provision with respect to real property by limiting the amount of gain that may be deferred to $1 million annually. This proposal could have a significant negative impact on the real estate sector with real implications for the broader economy. Background The original like-kind exchange rule goes all the way back to the Revenue Act of 1921 when Congress created section 202(c), which allowed investors to exchange securities and property that did not have a “readily realized market value.” This rather broad rule was eliminated in 1924 and replaced with section 112(b) in the Revenue Act of 1928, which permitted the deferral of gain on the like-kind exchange of similar property. With limited exceptions, generally related to narrowing the provision, Congress has largely left the like-kind rule unchanged since 1928.1 Section 1031 permits taxpayers to exchange assets used for investment or business purposes for other like-kind assets without the recognition of gain. -
Introduction and Will Be Subject to Additions and Corrections the Early History of El Museo Del Barrio Is Complex
This timeline and exhibition chronology is in process INTRODUCTION and will be subject to additions and corrections The early history of El Museo del Barrio is complex. as more information comes to light. All artists’ It is intertwined with popular struggles in New York names have been input directly from brochures, City over access to, and control of, educational and catalogues, or other existing archival documentation. cultural resources. Part and parcel of the national We apologize for any oversights, misspellings, or Civil Rights movement, public demonstrations, inconsistencies. A careful reader will note names strikes, boycotts, and sit-ins were held in New York that shift between the Spanish and the Anglicized City between 1966 and 1969. African American and versions. Names have been kept, for the most part, Puerto Rican parents, teachers and community as they are in the original documents. However, these activists in Central and East Harlem demanded variations, in themselves, reveal much about identity that their children— who, by 1967, composed the and cultural awareness during these decades. majority of the public school population—receive an education that acknowledged and addressed their We are grateful for any documentation that can diverse cultural heritages. In 1969, these community- be brought to our attention by the public at large. based groups attained their goal of decentralizing This timeline focuses on the defining institutional the Board of Education. They began to participate landmarks, as well as the major visual arts in structuring school curricula, and directed financial exhibitions. There are numerous events that still resources towards ethnic-specific didactic programs need to be documented and included, such as public that enriched their children’s education. -
Re-Assessing the Costs of the Stepped-Up Tax Basis Rule
Tulane Economics Working Paper Series Re-assessing the Costs of the Stepped-up Tax Basis Rule Jay A. Soled Richard L. Schmalbeck James Alm Rutgers Business School Duke Law School Tulane University [email protected] [email protected] [email protected] Working Paper 1904 April 2019 Abstract The stepped-up basis rule applicable at death (IRC section 1014) has always been a major source of revenue loss. Now, in the absence of a meaningful estate tax regime, taxpayers and their estate executors and administrators are likely to report inated date-of-death asset values. As a result, the revenue loss associated with this tax expenditure, called the stepped-up tax basis rule, will surely increase markedly. The Internal Revenue Service will no doubt attempt to police excessive tax basis adjustments, but the agency lacks the resources to do so adequately. Congress should therefore institute reforms to ensure proper tax basis identication. Keywords: Estate tax, capital gains, stepped-up basis tax rule. JEL codes: H2, H3. RE-ASSESSING THE COSTS OF THE STEPPED-UP TAX BASIS RULE Jay A. Soled, Richard L. Schmalbeck, & James Alm* The stepped-up basis rule applicable at death (IRC section 1014) has always been a major source of revenue loss. Now, in the absence of a meaningful estate tax regime, taxpayers and their estate executors and administrators are likely to report inflated date- of-death asset values. As a result, the revenue loss associated with this tax expenditure, called the “stepped-up tax basis rule”, will surely increase markedly. The Internal Revenue Service will no doubt attempt to police excessive tax basis adjustments, but the agency lacks the resources to do so adequately. -
Puerto Rico, Colonialism In
University at Albany, State University of New York Scholars Archive Latin American, Caribbean, and U.S. Latino Latin American, Caribbean, and U.S. Latino Studies Faculty Scholarship Studies 2005 Puerto Rico, Colonialism In Pedro Caban University at Albany, State Univeristy of New York, [email protected] Follow this and additional works at: https://scholarsarchive.library.albany.edu/lacs_fac_scholar Part of the Latin American Studies Commons Recommended Citation Caban, Pedro, "Puerto Rico, Colonialism In" (2005). Latin American, Caribbean, and U.S. Latino Studies Faculty Scholarship. 19. https://scholarsarchive.library.albany.edu/lacs_fac_scholar/19 This Encyclopedia Entry is brought to you for free and open access by the Latin American, Caribbean, and U.S. Latino Studies at Scholars Archive. It has been accepted for inclusion in Latin American, Caribbean, and U.S. Latino Studies Faculty Scholarship by an authorized administrator of Scholars Archive. For more information, please contact [email protected]. 516 PUERTO RICO, COLONIALISM IN PUERTO RICO, COLONIALISM IN. Puerto Rico They automatically became subjects of the United States has been a colonial possession of the United States since without any constitutionally protected rights. Despite the 1898. What makes Puerto Rico a colony? The simple an humiliation of being denied any involvement in fateful swer is that its people lack sovereignty and are denied the decisions in Paris, most Puerto Ricans welcomed U.S. fundamental right to freely govern themselves. The U.S. sovereignty, believing that under the presumed enlight Congress exercises unrestricted and unilateral powers over ened tutelage of the United States their long history of Puerto Rico, although the residents of Puerto Rico do not colonial rule would soon come to an end.