In addition to funding government and redistributing income, a redistributive tax-and-transfer system, and a progressive income tax in particular, provides insurance against the risk of uncertain future income. By providing for high taxes for high incomes, and low taxes, exemptions, and...

This article discusses the proposal to modify regulations that determine a debt instrument's issue price whenever there is an exchange of an instrument involving publicly traded property. Under both proposed and current regulation section 1.1273-2, the issue price of an instrument received in an...

Global climate change, largely the result of carbon emissions brought about by a global economy addicted to fossil fuel and committed to economic expansion, threatens the very viability of the economy that causes it. The relatively cheap price of fossil fuels does not account for the costs to...

The World Customs Organization (WCO) and the Organization of Economic Cooperation and Development (OECD) have begun considering the harmonization of transfer pricing norms among income tax, customs and VAT regimes. Two conferences have been organized in May of 2006 and 2007. These conferences...

In 2010, President Obama signed legislation that significantly altered the healthcare and health insurance markets in the United States. An integral part of that reform is the individual mandate, a provision that requires individuals to purchase and maintain healthcare insurance. Failure to...

This paper examines ethical and behavioral aspects of taxpayers, the financial condition of citizens, tax fairness, taxpayer services, complexities in the tax regime, tax rates, penalties and enforcement, and tax amnesties and the black economy. Primary data were collected by conducting a survey...

This report argues that including proof-of-stake cryptocurrency block rewards in gross income when the reward tokens are first created results in inequitable taxation and would discourage U.S. taxpayers from participating in this new technology. The better approach is to tax reward tokens when...

This article presents a new measure of the efficiency consequences of tax policies and explains how this new measure can shed light on a wide range of tax law debates. We build upon the “elasticity of taxable income” approach pioneered by public finance scholars over the last quarter century...

The U.S. economy exhibits high inequality and low economic mobility across generations relative to other high-income countries. The U.S. will need to raise more revenues in order to reduce these disparities, finance much-needed new services and investments, and address the nation's long-term...

An annual wealth tax, a mark-to-market income tax, and a retrospective capital gains tax are three approaches to capital taxation that yield roughly equivalent outcomes under certain conditions. The three approaches differ starkly, however, in their exposure to uncertainty of various types. This...