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Wednesday, April 5, 2023
Zelenak Presents Designing A Billionaires’ Tax At the moment At Northwestern
Lawrence Zelenak (Duke; Google Scholar) presents two papers on Revenue Taxation of the Unrealized Beneficial properties of the Ultrarich: The Nineteen Twenties, Stanley Surrey’s Period, and At the moment at Northwestern at the moment as a part of its Superior Subjects in Taxation Colloquium hosted by Gregg Polsky:
1924, 2021: Taxes of the Ultrarich, and Mark-to-Market Reforms, 172 Tax Notes Fed. 583 (July 26, 2021):
On this article, Zelenak tells the story of Treasury’s disclosures of the earnings tax funds of plutocrats virtually a century in the past, which mirror the current ProPublica revelations of the earnings tax funds of the 25 richest Individuals, and he explores why these earlier disclosures — in contrast to the current ones — didn’t spark curiosity in mark-to-market taxation of the ultrarich.
Stanley Surrey and Taxing Unrealized Appreciation, 87 Legislation & Contemp. Probs. __ (2024):
A long time in the past Surrey presciently anticipated this type of evolution within the views of the general public and of members of Congress towards the taxation of unrealized appreciation. Introduced with at the moment’s attitudes he certainly would have supported inclusion of nontaxation of unrealized appreciation within the tax expenditure finances, and really doubtless would have supported the Wyden and Treasury billionaires tax proposals as nicely. As Surrey famous within the above-quoted excerpt from Pathways, he might have pushed in 1973 for inclusion of the nontaxation of unrealized appreciation within the tax expenditure finances, but when he was proper (as I believe he was) that public and legislative opinion on the subject was then nonetheless mired in stage one, it’s exhausting to see what that might have completed. And though Surrey generally took on battles he didn’t win (extra on that beneath, with respect to the tax-free step-up in foundation at dying), he was by no means all for combating battles he knew he couldn’t win. It’s most likely ahistorical to suppose Surrey ought to have completed something greater than he did with respect to the realization-based character of the earnings tax.
https://taxprof.typepad.com/taxprof_blog/2023/04/zelenak-presents-designing-a-billionaires-tax-today-at-northwestern.html
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