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Reviving the Value Creation Principle in International Taxation
No full textThis Article aims to clarify the value creation principle and its role in shaping international tax policy that aligns taxation with the location of economic activity. It examines recent developments in international taxation, including aligning taxation with the place of substance, taxing “excess returns” and allocating taxing rights to market jurisdictions, each addressing different aspects of value creation. The Article advocates for a balanced profit allocation method that considers both supply-side and demand-side factors, offering a comprehensive approach to developing a fair and effective international tax framework
Charles and Kathleen Moore and the Coming Tax Armageddon
No full textThe Supreme Court decided last term, against predictions, that U.S. shareholders could be taxed on the undistributed earnings of their foreign corporation. The Court expressly did not decide the “Armageddon question,” whether a wealth tax or mark-to-market tax would be constitutional.
In the coming Armageddon, the Court needs to reverse the error in Pollock v. Farmers’ Loan & Trust Co., which said that the Constitution “prevent[s] an attack upon accumulated property by mere force of numbers.” That is exactly wrong. Apportionment of direct tax in fact was written to reach the wealth of the states using the labor of the population of a state to measure state wealth. The Founders, sitting as Justices in the early Supreme Court, held that if apportionment was not constructive, then the tax was therefore not a “direct tax” for which apportionment was required.
The Pollock Court imposed its private, ideological conclusion on words it did not understand, ignorant of the history and rationale for the words. The Supreme Court retreated from its error in Pollock over the next 25 years with the legal fiction that all taxes that came before the Court were excise taxes. The Sixteenth Amendment, allowing an income tax, was in context the last nail in the coffin.
Eisner v. Macomber resurrected Pollock from the dead with an inappropriately narrow definition of income, requiring that income be severed from capital. That defines a consumption tax, not an income tax. To consume bread from a loaf, one must slice, break or sever the bread from the loaf. But bread left in the loaf is fine savings, available for future consumption or for an emergency. “Income” includes both consumption and savings.
When the appropriate case reaches the Supreme Court, the Court needs to reverse Pollock, and Macomber with it, to allow the Democracy to tax wealth as the Constitution was written to allow
The Marginalized as Conservation’s Detritus: A Postcolonial Perspective
No full textColonial rule has had long-lasting impacts on large parts of the world, with direct and indirect transformations brought about in the social fabric and in the management of resources. This article takes a postcolonial perspective to examine this impact in the Indian context and traces the connection between the uneven co-option of social classes into the Western worldview and the marginalization and disregard of certain communities both by policy makers and public consciousness on the whole. It argues that not only were these communities and their traditional way of life disrupted during colonial rule, the gap between them and the elite and powerful social classes after Independence made the situation no better for them. The gaps between social classes in Indian society were further deepened during foreign rule through numerous social, political, and legal interventions. After Independence, the focus of policy makers was on national building and development, and the co-option of these classes in the Western worldview shaped not only their subscription to the models of development and modernity emerging from it, it also created a mental distance from the worldviews and way of life of other classes, with the largest distance between those who were largely left out at the margins and struggled to hold on to deeply held beliefs and traditions. Further, these groups also fell out of the consciousness of the majority of Indians who had to focus on the challenges thrown up in the environment wherein hardly any aspect was left untouched by the deep impact of colonial rule. Thus, the inequities created or exacerbated by colonial rule were not wiped out by Independence but continued, with the benefits of development and national progress unevenly distributed. What Dipesh Chakrabarty points out about “the deeper predicament produced by both the globalization of capital and the pressures of demography in poorer countries brought about by the unevenness of postcolonial development” that pushes stateless, illegal migrants, guest workers, and asylum seekers into a condition where they struggle for survival (“Postcolonial” 7) also applies to the internally displaced or those who way of life and habitat are threatened by development, modernization, as well as—ironically enough—conservation. Those pushed out to the margins seem to have fallen out of the national narrative and remained of interest only to academics and activists.
This paper focuses on forest and wildlife conservation to contend that the interventions in this domain during colonial rule have had an impact that continued in various ways for decades after Independence due, in part, to the disconnect between the societal strata that was created or deepened and shaped anew by the forces of colonial subjection. Not only are the elite who shape the path ahead for the ountry disconnected from the marginalized, but the larger public is also insufficiently aware of the inequities meted out to these groups who are often regarded, to use Kevin Bale’s term, as “disposable people” (Nixon 4) in developmental agendas. In correcting this disconnect, scholarly work can be complemented with journalistic writing, nonfiction, and fiction that can take these issues to the larger public. Fiction can play an especially important role in this because of its power of stirring the imagination and evoking empathy through affective identification with human characters
Yannakakis, Yanna. Since Time Immemorial: Native Custom and Law in Colonial Mexico.
No full textReview of: Yannakakis, Yanna. Since Time Immemorial: Native Custom and Law in Colonial Mexico. Durham, NC: Duke University Press, 2023
Njoku, Raphael Chijioke. Queen Elizabeth II and the Africans: Narrating Decolonization, Postwar Commonwealth, and Africa’s Development, 1947–2022
No full textReview of: Njoku, Raphael Chijioke. Queen Elizabeth II and the Africans: Narrating Decolonization, Postwar Commonwealth, and Africa’s Development, 1947– 2022. Leuven: Leuven University Press, 2024
Wariboko, Nimi. Lifemaking: Political Philosophy for Human Flourishing in African Perspective
No full textReview of: Wariboko, Nimi. Lifemaking: Political Philosophy for Human Flourishing in African Perspective. Albany: State University of New York Press, 2024
McGarr, Paul. Spying in South Asia: Britain, the United States, and India’s Secret Cold War
No full textReview of: McGarr, Paul. Spying in South Asia: Britain, the United States, and India’s Secret Cold War. Cambridge: Cambridge University Press, 2024
Hammett, Daniel. Global Development: The Basics
No full textReview of: Hammett, Daniel. Global Development: The Basics. New York: Routledge, 2024
China’s Belt and Road Initiative: What It Illustrates About Global Politics
No full textThe Belt and Road Initiative (BRI) is not debt trap diplomacy; rather, it is an effort by China to coalesce and capitalize on the sentiments of its participants who have expressed concurrence with China’s view of international relations. At a time when the dominant international relations narrative is being challenged, specifically by China, the BRI has provided China with an opportunity to obtain affirmation for its foreign interests and principles. This claim is made evident by evaluating, as metrics of geopolitical influence, United Nations resolutions representing China’s interests and how BRI participant nations voted on them, as well as official BRI statements that these nations have made regarding China’s foreign policy stances
The Paradox of Representation in Indra Sinha’s Animal’s People: “Just Words Written on a Page”
No full textThis paper performs a close reading of Indra Sinha’s novel Animal’s People to demonstrate how South Asian literary texts are entangled with unavoidable questions of representation, fetishization, and commodification. Bringing Althusser’s conception of non-vision in dialogue with Spivak’s theorization of the subaltern, I argue that Sinha’s novel performs a trenchant meta-commentary on the politics of narrativizing industrial disasters in the Global South