This paper describes the relevance to lawyers and law students of the concept of income for tax purposes and tax policy … legislation which reflect the changing perceptions of the public policies involved. Concerning the concept of income, there is a … discussion of the difference between economists' definition of income and the judicial approach. Giving as examples the …

imposes a higher tax liability on foreign income, we show it encourages excess foreign investment by depressing the …

generates tax windfalls through a repatriation tax cut and a corporate income tax cut. Using monthly repurchase data from SEC … filings, we find the surge of repurchases after the TCJA is driven by the repatriation tax cut, and not the income tax cut … the income tax cut and especially for capital-constrained, low-leverage, or profitable firms. Highly-levered firms with …