Wealth taxes are popular in some circles these days. Senator Elizabeth Warren has a new wealth tax proposal out, as do a couple of think tanks. I thought it would be interesting to work through how a wealth tax should approach entities that historically have…
California and GILTI
California should conform to GILTI, but in its own special way
GILTI is a provision of the TCJA meant to combat base erosion. I have argued that the states should conform to it, at least unless they are prepared to do something better (like mandatory worldwide combination). By…
Once More On States and GILTI
States Should Conform to GILTI (and why I believe that they will (eventually))
The state corporate income tax has declined even relative to the federal corporate tax base, even as corporations have generally become more profitable. Taxing the mobile capital represented…
IRS and Treasury have recently been so overwhelmed by the volume of regulation needed to implement the 2017 tax legislation that it’s easy to understand if they just really need a drink. It’s still surprising, though, that one piece of their recent…
I’d like to add what I think is needed nuance to the picture of charitable giving policy sketched by two physicians today in the New York Times. Briefly, the authors argue that the current structure of the charitable contribution deduction…
How confident must we be that allegations of sexual misconduct are true before we impose consequences on the accused? This question is central to the debate over the…
