All posts tagged: Taxation

2018 Fogel Lecture Reflection: A Divided Democracy Drives the Deficit

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On March 28th the annual Frank & Rose Fogel lecture was given at Temple University Beasley School of Law. The Fogel lecture was established in 1987 through a bequest from Temple Law graduate Frank Fogel with the goal of supporting public lectures on legal topics. Recently, the Fogel lecture has been focused on the area of tax law with previous lecturers including United States Tax Court Judge, The Honorable Cary D. Pugh, Former Chief of Staff of the Joint Committee on Taxation Hank Gutman, and Former IRS Commissioner Larry Gibbs. This year the law school was honored to host Michael Graetz as the Fogel Lecturer. Michael Graetz, a renowned expert on domestic and international tax law, is an Alumni Professor of Tax Law at Columbia University. Before working at Columbia he was a Professor of Law at Yale Law School, and served as the Deputy Assistant Secretary for Tax Policy in the U.S. Department of the Treasury under George H.W. Bush. Professor Graetz has countless publications, his most recent being Follow the Money: Essays on …

Tax

Why Take Tax?

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Recall what happened at last year’s Superbowl:  Tom Brady received the keys to a brand new Chevy truck when he was named MVP of the Superbowl game, and then said “Oh, no, not me Chevy; you should give the truck to Malcolm Butler for making the game-winning interception instead.”  And Chevy did that.  If you’d been taking tax then you might have immediately thought:  we just did this in class – who’s got income?  Brady, because he received a prize?  Are prizes income? But in any event, he gave it away, so what does that mean?  And what about Butler?  Did he receive a prize?  Or a gift from his teammate?  Are gifts income?  And what’s a gift?  These are all real live tax issues – indeed, this fact pattern was the first question on the tax exam last year. What about Kim Kardashian, who was robbed in Paris?  She lost over 10 million Euros worth of jewelry.  Can she deduct that loss? How can the deduction help her?  What if she sues the owners …