Tax Lawyer's Blog

JLP of All Financial Matters tells us why it makes sense that dividends are taxed at lower rates:
BG left the following comment on one of my previous posts:
“JLP won’t like me saying it, but even the ultra-rich play this game where their “income” (dividends & investments make up the majority of their income) is only [...]

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I just read two weekend posts by Paul Caron of TaxProf Blog titled GAO: 83% of Largest U.S. Companies Use Offshore Tax Havens; and WSJ: Best Economic Stimulus: A Corporate Tax Rate of Zero.�
In the first post, Professor Caron reports that a General Accountability Office (GAO) study indicates that more than 2/3rds of America’s largest corporations have subsidiaries in [...]

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IRS Commissioner, Doug Schulman, addressed the 21st George Washington University International Tax Conference on Monday and said,
Tax administrators and tax professionals find themselves with a new, heightened and highly visible global role.
It’s fair to say that U.S. taxpayers’ attitudes and perceptions about the taxes they pay reflect the changing world around them.
We must recognize that [...]

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Joe Kristan blogged yesterday in a post titled Congress Eyes Reversal of Section 382 Bank Notice that,
Ways and Means Democrats introduced legislation to repeal the IRS notice (Notice 2008-83) that exempts bad loans from the Section 382 “built-in loss” rules. The legislation would repeal the notice effective on the earlier of passage by Ways and Means [...]

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Once again on TaxProf Blog I find a link to an interesting tax article, 20 Reasons to Kill the Corporate Tax, written by (fellow Greek?) James Pethokoukis of U.S News and World Report.
Here are Pethokoukis’ more interesting (and rarely mentioned) reasons for eliminating the corporate income tax:

4. Some 70 percent of the corporate tax burden is borne by [...]

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The Tax Foundation has launched a program called CompeteUSA designed to educate the public on the adverse impact of high business taxes.�
[CompeteUSA's] goal is to raise the public’s awareness of America’s high business taxes and how those taxes are affecting our competitiveness, wages, and living standards.
The wages and living standards of American workers are threatened [...]

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According to a study released by the Scapegoat Society titled, Constructive Inquiry Into the Nature and Nuetralizing of Blame, scapegoating is,

[a] hostile social/psychological discrediting routine by which people move blame and responsibility away from themselves and towards a target person or group.

A new GAO study requested by Democrat Senators Byron Dorgan (North Dakota) and Carl Levin [...]

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