We propose a simple axiomatic system that any depreciation and amortization method - complying with the recent developments in the guidelines set by GAAP and IASB - must obey. The system is consistent with both the matching and the impairment principles. We show that none of the prevalent...

In this article I have tried to offer a few ideas aimed at increasing and promoting constitutional review of tax laws. As opposed to a surprising trend that I have found in the United States, I argue that such review is supposed to serve the promotion of social policy, distributive justice, and...

This article seeks to present a novel and accurate analysis (rather than a practical concession) for two aspects of taxation of intangibles: 1) Whether the costs of creating intangible assets, including goodwill, should be characterized as capital or current expenses. 2) What is the appropriate...

What does the Constitution mean when it says that “The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States” (US Const. Article I, Section 8, Clause 1)?The definition of...

As opposed to the traditional literature, that deals with the pros and cons re capital gains preferences, this article copes with the definition of capital gains and losses. Based on the inquiry of the process that creates those gains and losses I offer the following definition: An actual or...

This paper uses a partial equilibrium analysis to show that a partial trade liberalization may reduce a country's welfare due to a loss in monopolistic rent if it is carried out by a quota. The quota can be set by either the foreign or domestic government (it is considered as a voluntary export...