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Call # KF6288 .O55 2011
Author Oliver, Philip D., 1947-
Title Tax policy : readings and materials / by Philip D. Oliver
Imprint New York, NY : Foundation Press : Thomson Reuters, 2011
Edition 3rd ed
Book Cover
 WMS STACKS  KF6288 .O55 2011    AVAILABLE


Descript. xlv, 1258 p. : ill. ; 26 cm
Series University casebook series
Subject Taxation -- Law and legislation -- United States -- Cases
Income tax -- Law and legislation -- United States -- Cases
Fiscal policy -- United States
OCLC # 690879142
Table of Contents
 Preface to the Third Editionv
 Selections and Copyright Acknowledgementsxi
 Editorial Conventionsxlv
 Prologue: The Canons of Taxation1
 Introduction to Part I5
ch. 1 Purposes of Taxation7
A.Taxation to Finance Government Expenditures7
 We Don't Need Balanced Budgets / Robert Eisner8
 Growing US Fiscal Gap / Daniel N. Shaviro10
 What Ails Us / James Surowiecki17
 Notes and Questions #1-2418
B.Taxation to Control the Economy23
 Whatever Happened to Counter-Cyclical Economic Stimulus / Donald W. Kiefer24
 Notes and Questions #25-2930
C.Taxation to Change Behavior33
 Savings, Investment, and the Tax Reform Act of 1986 / Edward M. Gramlich33
 Notes and Questions #30-3737
D.Sources of Federal Revenues and the Growth of Income Inequality39
 Congressional Budget Office Report, Effective Federal Tax Rates, 1979-199740
 Congressional Budget Office Report, Historical Effective Federal Tax Rates: 1979 to 200650
 Income Inequality and the U.S. Tax System / Thomas L. Hungerford54
 Inequality in the Distribution of Income: Trends and International Comparisons / Brian W. Cashell61
 Notes and Questions #38-6866
ch. 2 When Should Income be Taxed?75
A.Introduction: The Time Value of Money75
 Federal Income Taxation / Larry D. Ward77
 Notes and Questions #1-578
B.Haig-Simons Definition of Income79
 Personal Income Taxation / Henry C. Simons80
 Federal Tax Reform / Henry C. Simons81
 Note, Realizing Appreciation Without Sale: Accrual Taxation of Capital Gains on Marketable Securities / Mark L. Louie84
 Federal Income Taxation / Marvin A. Chirelstein89
 Notes and Questions #6-2190
C.Critiques of the Haig-Simons Approach93
 Capital Losses: Falling Short on Fairness and Simplicity / Fred W. Peel, Jr.94
 Concept of Income / Victor Thuronyi95
 Three Failures in Economic Analysis of Tax Reform / J. Gregory Ballentine97
 Positive Account of the Realization Rule / Deborah H. Schenk99
 Notes and Questions #22-31103
D.Recent Proposals for Avoiding the Realization Rule104
 Partial Mark-to-Market Tax System / David A. Weisbach105
 Defeating Deferral: A Proposal for Retrospective Taxation / Stephen B. Land113
 Notes and Questions #32-53123
E.Should the Tax Reporting Period be One Year?128
 Proposal to Lengthen the Tax Accounting Period / Jay A. Soled128
 Notes and Questions #54-64136
ch. 3 Imputed Income141
B.Imputed Income From Property142
 Imputed Rent of Owner-Occupied Dwellings under the Income Tax / Richard Goode142
 Imputed Income and the Ideal Income Tax / Thomas Chancellor148
 Notes and Questions #1-18150
C.Imputed Income From Services155
 Taxation of the Family in a Comprehensive and Simplified Income Tax / Oliver Oldman156
 Tax Deductions for Family Care Expenses / William A. Klein162
 Two Cheers for the Child Care Deduction / Donald H. Berman167
 Taxation and the Family: A Fresh Look At Behavioral Gender Biases in the Code / Edward J. McCaffery171
 Notes and Questions #19-35174
D.Taking Account of Amenities179
 Taxing Sunny Days: Adjusting Taxes for Regional Costs and Amenities / Thomas D. Griffith180
 Regional Costs and Amenities180
 Notes and Questions #36-44186
ch. 4 Progressive Tax Rates189
B.Progressivity: Pros and Cons190
 Historical Review and Analysis of Early United States Tax Policy Scholarship: Definition of Income and Progressive Rates / JB McCombs191
 High Progressive Tax Rates: Inequity and Immorality? / Dan Throop Smith199
 Income Tax: How Progressive Should it Be? (Second Lecture by Boris I. Bittker) / Boris I. Bittker209
 Tax Fairness or Unfairness? A Consideration of the Philosophical Bases for Unequal Taxation of Individuals / Jeffrey A. Schoenblum216
 Notes and Questions #1-45221
C.Tax Rate Structure: Pragmatism and Equity231
 Comments on Fundamental Tax Reform / Charles E. McLure, Jr.231
 Shoup Mission, Report on Japanese Taxation233
 Tax Reform for Fairness, Simplicity, and Economic Growth ["Treasury I"] / U.S. Department of the Treasury236
 Notes and Questions #46-64236
D.Progressivity and Optimal Tax Analysis241
 Social Welfare and the Rate Structure: A New Look at Progressive Taxation / Thomas Griffith242
 Can the Graduated Income Tax Survive Optimal Tax Analysis? / Kemper Moreland258
 Notes and Questions #65-90274
E.Pursuing Welfare Redistribution Outside the Tax-And-Transfer System281
 Redistributing Optimally: Of Tax Rules, Legal Rules and Insurance / Ronen Avraham281
 Notes and Questions #91-97289
ch. 5 Taxing Families293
A.History of the Taxing Unit293
 Staff of the Joint Committee on Taxation, Income Tax Treatment of Married Couples and Single Persons295
 Recent Developments in the Marriage Tax / Harvey S. Rosen299
 House Report No. 107-29, Marriage Penalty and Family Tax Relief Act of 2001301
 Notes and Questions #1-19303
B.Conflicting Theories of the Proper Taxpaying Unit307
 Federal Income Taxation and the Family / Boris I. Bittker308
 Marriage and the Income Tax / Lawrence Zelenak316
 Love, Money, and the IRS: Family, Income-Sharing, and the Joint Income Tax Return / Marjorie E. Kornhauser325
 Approach to Income Tax Simplification / Fred W. Peel, Jr.327
 Notes and Questions #20-42328
C.Innocent Spouses and Former Spouses333
 H.R. Report No. 105-599 (Conference Report), Internal Revenue Service Restructuring and Reform Act of 1998333
 Innocent Spouse Problem: Defining a Proportionate Solution / Martha W. Jordan337
 Notes and Questions #43-53342
D.Children and the Income Tax343
 Children and the Income Tax / Lawrence Zelenak344
 Tax Policy and the Obligation to Support Children / Allan J. Samansky346
 Federal Tax Policy / Joseph Pechman353
 Notes and Questions #54-72356
E.Tax Treatment of the Elderly359
 Reconsidering the Income Tax Treatment of the Elderly: It's Time for the Elderly to Pay Their Fair Share / Jonathan Barry Forman360
 Intergenerational Equity in Fiscal Policy Reform / Michael Doran365
 Notes and Questions #73-89374
 Introduction to Part II379
ch. 6 Value Added Taxes381
B.History of the Value Added Tax385
 Origin of the Value-Added Tax / Richard W. Lindholm385
 Radical Tax Reform for the 21st Century: The Role for a Consumption Tax / Alan Schenk387
 Notes and Questions #1-4389
C.Ullman Proposal and Its Aftermath390
 Statement By Representative Al Ullman (D., Oregon), Committee on Ways & Means, Hearing Announcement on the Tax Restructuring Act of 1979390
 Tax Reform for Fairness, Simplicity, and Economic Growth ["Treasury I"] / U.S. Department of the Treasury392
 Value-Added Tax: Key to Deficit Reduction? / Charles E. McLure, Jr.405
 Economics of the Value Added Tax / John F. Due407
 Value Added Tax: Does This Consumption Tax Have a Place in the Federal Tax System? / Alan Schenk411
 Notes and Questions #5-53418
D.Implementation and Concern For Low-Income Taxpayers435
 End of Income Taxation / Joseph Isenbergh436
 Digital VAT (D-VAT) / Richard Thompson Ainsworth438
 100 Million Unnecessary Returns: A Fresh Start for the U.S. Tax System / Michael J. Graetz441
 Revisiting the Income Tax vs. Consumption Tax Debate / Michael J. Graetz447
 Notes and Questions #54-76450
ch. 7 Consumption-Type Income Tax457
B.Academic Exposition459
 Consumption-Type or Cash Flow Personal Income Tax / William D. Andrews459
 Notes and Questions #1-28477
C.Income Tax Defended482
 Would a Consumption Tax Be Fairer Than an Income Tax? / Alvin Warren483
 Case for an Income Tax / Alan Gunn485
 Tax Reform for Fairness, Simplicity, and Economic Growth ["Treasury I"] / U.S. Department of the Treasury492
 Notes and Questions #29-47496
D.Analyzing Different Types of Saving501
 Tax Policy Under a Hybrid Income-Consumption Tax / Edward J. McCaffery501
 Notes and Questions #48-68512
E.Proposals in the Political Arena515
 Flat Tax / Alvin Rabushka516
 Alliance USA, Unlimited Savings Allowance (USA) Tax System528
 Is Radical Tax Reform in Our Future? / Rudolph G. Penner539
 Merit of an Income Tax Versus a Consumption Tax / John S. Nolan543
 Notes and Questions #69-106550
F.Look to the Future: Consumption Taxation By Evolution?562
 Flat Tax, Consumption Tax, Consumption-Type Income Tax Proposals in the United States: A Tax Policy Discussion of Fundamental Tax Reform / John K. McNulty563
 U.S. Consumption Tax: Evolution Not Revolution / Daniel S. Goldberg573
 Notes and Questions #107-127582
 Introduction to Part III589
ch. 8 Life Insurance591
B.Is Life Insurance A "Special" Investment?594
 Income Tax Treatment of Interest Earned on Savings in Life Insurance / Charles E. McLure, Jr.594
 Notes and Questions #1-7596
C.Problem of "Inside Buildup"598
 Reflections on the Meaning of Life: An Analysis of Section 7702 and the Taxation of Cash Value Life Insurance / Andrew D. Pike599
 Tax Reform for Fairness, Simplicity, and Economic Growth ["Treasury I"] / U.S. Department of the Treasury603
 Notes and Questions #8-24604
D.Proper Treatment of Sellers of Life Insurance Policies609
 New Model for Identifying Basis in Life Insurance Policies: Implementation and Deference / Jay A. Soled610
 Notes and Questions #25-33619
ch. 9 Transfer Taxes and Wealth Taxes621
A.Introduction and Historical Origins621
 Rise and Decline of the Estate Tax / Louis Eisenstein624
 Notes and Questions #1-7627
B.Equalization of Opportunity---Or Penalizing Success?631
 Curtailing Inherited Wealth / Mark L. Ascher631
 American Dream in Legislation: The Role of Popular Symbols in Wealth Tax Policy / William Blatt641
 Notes and Questions #8-24645
C.Role of Transfer Taxes in a Progressive Tax System648
 To Praise the Estate. Tax, Not to Bury it / Michael J. Graetz649
 Abolition of All Transfer Taxes / Joel C. Dobris653
 Notes and Questions #25-41656
D.Accessions Tax (and Other Alternatives to the Estate Tax)663
 Proposal for an Accessions Tax / Harry J. Rudick663
 Future of Transfer Taxation: Repeal, Restructuring and Refinement, or Replacement / John E. Donaldson665
 Comparing a Reformed Estate Tax with an Accessions Tax and an Income-Inclusion System, and Abandoning the Generation-Skipping Tax / Joseph M. Dodge670
 Notes and Questions #42-58674
E.Wealth Taxes677
 Voluntary Tax? New Perspectives on Sophisticated Estate Tax Avoidance / George Cooper678
 Toward a Theory of Federal Taxation: A Comment / Daniel Q. Posin681
 Notes and Questions #59-72683
ch. 10 Income Tax Treatment of Property Transferred at Death or By Gift689
 Notes and Questions #1-9691
B.Carryover Basis of Property Transferred at Death693
 General Explanations of the Administration's Fiscal Year 2002 Tax Relief Proposals / U.S. Department of the Treasury694
 Notes and Questions #10-19696
C.Constructive Realization: Taxing Donors and Decedents on Unrealized Appreciation700
 Taxing Gains at Death / Lawrence Zelenak701
 Becoming More Inevitable? Death and Taxes...and Taxes / Louis M. Castruccio709
 On Constructively Realizing Constructive Realization: Building the Case for Death and Taxes / Dan Subotnik714
 Notes and Questions #20-33715
D.Treating Gifts and Bequests as Income to the Recipient718
 Beyond Estate and Gift Tax Reform: Including Gifts and Bequests in Income / Joseph M. Dodge719
 Tax Policy and the Federal Income Taxation of the Transfer of Wealth / David M. Hudson726
 "Gifts, Gafts, and Gefts"---The Income Tax Definition and Treatment of Private and Charitable "Gifts" and a Principled Policy Justification for the Exclusion of Gifts from Income / Jeffrey H. Kahn729
 Notes and Questions #34-56740
 Introduction to Part IV745
ch. 11 Tax Expenditures747
 Notes and Questions #1-4750
B.Tax Expenditures Described and Defended752
 Analytical Perspectives, Budget of the United States Government, Fiscal Year 2011 / Office of Management and Budget753
 Analytical Perspectives, Budget of the United States Government, Fiscal Year 2009 (Appendix) / Office of Management and Budget769
 James Madison and Public Choice at Gucci Gulch: A Procedural Defense of Tax Expenditures and Tax Institutions / Edward A. Zelinsky773
 Notes and Questions #5-36783
C.Tax Expenditures Concept Challenged789
 Expenditure Budgets: A Critical View / Jeffrey S. Lehman790
 Accounting for Federal "Tax Subsidies" in the National Budget / Boris I. Bittker793
 Section 265(2): A Counterproductive Solution to a Nonexistent Problem / Philip D. Oliver800
 Notes and Questions #37-44801
D.What Form Should Tax Expenditures Take?802
 Investment Tax Credit: The Illusory Incentive / Philip D. Oliver803
 Tax Subsidies: One-Time vs. Periodic---An Economic Analysis of the Tax Policy Alternatives / Daniel S. Goldberg804
 Notes and Questions #45-57820
E.Case Study: The Earned Income Tax Credit823
 Earned Income Tax Credit and the Limitations of Tax-Based Welfare Reform / Ann L. Alstott823
 Improving the Delivery of Benefits to the Working Poor: Proposals to Reform the Earned Income Tax Credit Program / Mark J. Mazur838
 Notes and Questions #58-83846
ch. 12 Personal Injury Awards853
A.Introduction and Historical Development853
 Tax Treatment of Employment-Related Personal Injury Awards: The Need for Limits / Michael K. Friel854
 Notes and Questions #1-8857
B.Human Capital and Other Traditional Justifications for the Exclusion860
 Federal Income Taxation and Human Capital / Paul B. Stephan, III860
 Developing a Theory of Damage Recovery Taxation / Jennifer J.S. Brooks865
 Compensatory and Punitive Damages for a Personal Injury: To Tax or Not to Tax? / Douglas A. Kahn868
 Taxes and Torts / Joseph M. Dodge871
 Notes and Questions #9-38875
C.Traditional Analysis Challenged: Evaluating the Exclusion of Personal Injury Awards by Normative Criteria883
 Should "Tax Norms" Be Abandoned? Rethinking Tax Policy Analysis and the Taxation of Personal Injury Recoveries / Thomas D. Griffith883
 Notes and Questions #39-51892
D.Structured Settlements and Other Timing Problems894
 Convergence of I.R.C. § 104(a)(2), Norfolk & Western Railway Co. v. Liepelt and Structured Tort Settlements: Tax Policy "Derailed" / Lawrence A. Frolik895
 Notes and Questions #52-60901
ch. 13 Federal Tax Treatment of State and Local Taxes903
B.Deduction of State and Local Taxes904
 Tax Reform for Fairness, Simplicity, and Economic Growth ["Treasury I"] / U.S. Department of the Treasury904
 Senate Committee on Finance, Senate Report No. 99-313907
 Limiting State-Local Tax Deductibility: Effects Among the States / Dennis Zimmerman908
 Evaluating Personal Deductions in an Income Tax---The Ideal / William J. Turnier910
 New Federal Tax Treatment of State and Local Taxes / JB McCombs912
 Notes and Questions #1-31915
C.Federal Credit for State and Local Taxes?922
 Deducations and Credits for State Income Taxes / Walter W. Heller923
 Notes and Questions #32-42926
 Introduction to Part V929
ch. 14 Corporations and Dividends931
 Notes and Questions #1-16934
B.Who Bears the Corporate Tax?938
 Federal Tax Policy / Joseph A. Pechman938
 Notes and Questions #17-23944
C.Double Tax Issue945
 General Explanations of the Administration's Fiscal Year 2004 Revenue Proposals / U.S. Department of the Treasury947
 Tax Reform for Fairness, Simplicity, and Economic Growth ["Treasury I"] / U.S. Department of the Treasury953
 American Law Institute Reporter's Study of Corporate Tax Integration: Summary and Proposals / Alvin C. Warren955
 Statement of Tax Policy: Integration of the Corporate and Shareholder Tax Systems / American Institute of Certified Public Accountants959
 Report on Integration of the Individual and Corporate Tax Systems / U.S. Department of the Treasury963
 Proposal for Eliminating Double Taxation of Corporate Dividends / Fred W. Peel, Jr.967
 Notes and Questions #24-55971
D.Interest Deductions and Retained Earnings977
 American Law Institute Reporter's Study of the Taxation of Corporate Distributions, Appendix to Subchapter C Proposals / William D. Andrews978
 Tax Aspects of Leveraged Buyouts and Other Corporate Financial Restructuring Transactions / Michael J. Graetz980
 Imputation of the Corporate and Personal Income Tax: Is it Chasing One's Tail? / Razeen Sappideen985
 Notes and Questions #56-70988
E.Politics of Corporate Integration992
 Political Theory of Corporate Taxation / Deborah M. Weiss992
 Notes and Questions #71-831002
ch. 15 Capital Gains and Losses1007
A.History, Definitions, and Tax Treatment1007
 Seventeen Culls from Capital Gains / Calvin H. Johnson1009
 Notes and Questions #1-81014
B.Should Capital Gains Be Taxed at Preferential Rates?1018
 Case for a Capital Gains Preference / Deborah H. Schenk1019
 Capital Gains Preference is Not EVEN a Second-Best Solution / Daniel Halperin1038
 Uneasiness and Capital Gains / Daniel N. Shaviro1042
 Economic Analyses of Capital Gains Taxation: Realizations, Revenues, Efficiency and Equity / George R. Zodrow1049
 Notes and Questions #9-391055
C.Treatment of Capital Losses1063
 Discussion by CCH Tax Advisory Board Roundtable1064
 Capital Gains: Falling Short on Fairness and Simplicity / Fred W. Peel, Jr.1065
 Notes and Questions #40-431066
D.Effect of Taxing Capital Gains on Incentives1067
 Indexing Capital Gains / Congressional Budget Office1068
 Tax Incentives for Increasing Savings and Investments / Michael J. Boskin1070
 House Report No. 104-841073
 Capital Gains Tax Policy Toward Entrepreneurship / James M. Poterba1075
 Notes and Questions #44-571080
ch. 16 Responding to Price Level Changes1085
 Inflation and the Income Tax / Henry J. Aaron1087
 Notes and Questions #1-101089
B.Inflation and Capital Gain1091
 Taxation of Capital Gains---Let's Be Fair / Mitchell L. Engler1091
 New York State Bar Association Section on Taxation Ad Hoc Committee, Report on Inflation Adjustments to the Basis of Capital Assets1093
 Notes and Questions #11-211096
C.Inflation and Debt1098
 Tax Reform for Fairness, Simplicity, and Economic Growth ["Treasury I"] / U.S. Department of the Treasury1099
 Inflation and the Tax Code: Guidelines for Policymaking / Michael C. Durst1103
 Notes and Questions #22-391106
D.Indexation and the Realization Rule1110
 Partial Basis Indexation: An Implicit Response to Tax Deferral / Mitchell L. Engler1111
 Indexing the Tax Code / Reed Shuldiner1118
 Notes and Questions #40-591131
E.What About Deflation?1135
 Deflation and the Income Tax / Jeff Strnad1136
 Notes and Questions #60-701147
 Introduction to Part VI1151
ch. 17 Taxes and the Legislative Process1153
 Notes and Questions #1-21153
B.Influences on Congress1155
 Congress and the Tax Lobbyist---How Special Tax Provisions Get Enacted / Stanley S. Surrey1155
 Beyond Public Choice and Public Interest: A Study of the Legislative Process as Illustrated by Tax Legislation in the 1980s / Daniel Shaviro1157
 Notes and Questions #3-231173
C.Role of Budget Constraints and Revenue Estimates1177
 Roles of Revenue Estimation and Scoring in the Federal Budget Process / Michael D. Bopp1178
 Paint-by-Numbers Tax Lawmaking / Michael J. Graetz1181
 Notes and Questions #24-281187
D.Tax Reform Act of 1986: A Case Study in Fundamental Tax Reform (and why it Did Not Last)1188
 Long View of Tax Reform / John F. Witte1188
 Showdown at Gucci Gulch / Jeffrey H. Birnbaum1195
 Some Economics of Tax Reform, 1986 / Gerard M. Brannon1200
 Notes and Questions #29-391203
Appendix I Present Value of $1.001206
Appendix II Future Value of $1.001207
 Table of Cases1208
 Table of Internal Revenue Code Sections1210
 Table of Authorities1213