Bill Gale talks about what is wrong with our income tax and how to make it right. He also explains what happens when death and taxes square off (spoiler alert: it doesn’t go well for the income tax).  Gale describes simple measures—and some not so simple—that we can take to make our tax system work better for all of us. Find out what the “Angel of Death” tax loophole is and why it makes the tax law both unfair and inefficient. Gale also discusses how mark-to-market taxation could help us all cheat death, making the income tax more equitable while boosting economic growth.

Gale’s pencil question is about the tax treatment of churches.

The Tax Maven

[email protected] (Bill Gale, Steven Dean)

The Angel of Death Has a Tax Shelter to Sell You (Bill Gale)

DEC 22, 20208 MIN
The Tax Maven

The Angel of Death Has a Tax Shelter to Sell You (Bill Gale)

DEC 22, 20208 MIN

Description

Bill Gale is the Arjay and Frances Miller Chair in Federal Economic Policy and a senior fellow in the Economic Studies Program at the Brookings Institution. His research focuses on tax policy, fiscal policy, pensions, and saving behavior. He is co-director of the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute.

Gale is the author of Fiscal Therapy: Curing America’s Debt Addiction and Investing in the Future (Oxford University Press, 2019). He has served as president of the National Tax Association and vice president of Brookings and director of the Economic Studies Program. He has also been an assistant professor in the Department of Economics at the University of California, Los Angeles and a senior economist for the Council of Economic Advisers under President George H.W. Bush.

Our student quote is read by Emily Eskin, from Teaneck, NJ.

Resources:

  1. Bill Gale’s bio.
  2. Bill Gale’s tweets.
  3. Fiscal Therapy: Curing America's Debt Addiction and Investing in the Future.
  4. The pencil question is about I.R.C. § 6033 (returns by exempt organizations).
  5. The student quote is from: Bridget J. Crawford & Emily Gold Waldman, The Unconstitutional Tampon Tax, 53 U. Rich. L. Rev. 439 (2019).