Event: Discussion on EU’s Tax Policy Agenda

Paris, France, by Tasi Zoltán via Unsplash

My school is hosting a tax event open to the public this Friday. If you’re in D.C., you should stop by:

“IIEL and the Georgetown Law Tax LL.M. Program invite you to a breakfast briefing with Stephen Quest, Director General for Taxation and the Customs Union of the European Commission, on the EU’s Tax Policy Agenda.

Over the past several years, the European Commission has pursued an ambitious agenda to achieve fairer corporate taxation in the European Union. Continue reading “Event: Discussion on EU’s Tax Policy Agenda” »

Law School Research Papers

Are Law Degrees as Valuable to Minorities?

Photo of the New York Public Library - Stephen A. Schwarzman Building, New York, by Davide Cantelli via Unsplash

A new research paper by Frank McIntyre of Rutgers Business School and Michael Simkovic of USC Law looks at whether law degrees are less valuable for minority students.

Unsurprisingly, the researchers found that minority students tend to earn less after law school than white students:

“After controlling for observable differences, we find that a law degree is associated with approximately an 80 percent increase in earnings for whites and a 60 to 70 percent increase for minorities such as blacks, Asians and Hispanics.

The results are similar when looking only at men or only at women. In addition, whites’ higher percentage premiums are multiplied by higher base earnings than blacks’ or Hispanics’, such that in dollar terms the gaps are even more noticeable.

It is likely that at the median and even 25th percentile, law students of all races typically derive greater financial benefits from their law degrees compared to a terminal bachelor’s than the costs of those law degrees. However, minority students’ predictably lower earnings premiums indicate that they are at greater risk than other students of losing out financially from law school.

There are important limitations to our study. While differences in total earnings by race are well documented, and we now have evidence in differences by race in law earnings premiums (the financial benefits of legal education), the reasons for these differences are not well understood and likely include a combination of factors. Another limitation is that we are measuring population level differences in earnings. Individual outcomes vary, and we account only for a limited proportion of the total variance in earnings.

Nevertheless, our results suggest two things. First, attending law school is generally a better financial decision than terminating education with a bachelor’s degree, but the boost to earnings is higher for whites than for minorities. Second, differences in the financial benefits of a law degree by race appear to have diminished in recent years, particularly as between whites on the one hand and blacks and Hispanics on the other.”

Continue reading “Are Law Degrees as Valuable to Minorities?” »

Federal Tax Law Research Papers

The Treatment of Trees: Like-Kind Exchanges of Timber Rights

Timber, logging and forest picture by Photo by Ales Krivec on Unsplash

A new research paper by Brooklyn Law School professor Bradley T. Borden looks at the treatment of like-kind exchanges of timber rights.

In general, timber rights do not qualify for Section 1031 recognition, which allows for the postponement of tax on property sales if the proceeds are reinvested in similar property as part of a qualifying like-kind exchange.  Continue reading “The Treatment of Trees: Like-Kind Exchanges of Timber Rights” »

Research Papers

Paper: How taxes led to the rise of serfdom in ancient Rome

Photo of Roman columns by Joshua Rodriguez on Unsplash

A recent paper by CUNY economics professor Morris Silver looks at how tax considerations evolved into a form a serfdom in ancient Rome.

Although Silver writes about tax systems that are thousands of years removed from our own, many of the systems (and the resulting human responses) should be very familiar to modern audiences. Continue reading “Paper: How taxes led to the rise of serfdom in ancient Rome” »