Ok, I need clarification on the new c.v. standards. I list that summer at the Rockland County Clerk's Office, clearly. What about the 3 days I worked at the Highway Dept. before they fired me? And, uh, that one day I managed at the deli before refusing to "ever go near that dumpster again"?

You've seen Agrawal et al.? adres2022.sciencesconf.org/data/pages/L...

We show how to implement a system like that in a pretty easy package that satisfies U.S. legal and political-economy constraints (and that gets the interest rate right, which most others didn't). So the BMIT, in our view, will work just fine. See, now, wasn't that mildly interesting? 6/6

Our academic work gets into this in a lot of detail. The key point is that you can run a mark-to-market system just by waiting (for tough to value assets) until sale, but imposing an interest charge that captures the taxpayer's time value of money. scholarship.law.duke.edu/dlj/vol72/is... /5

Generally, the complaint about MtM tax is "but people have weird stuff whose value we don't know until they sell it." This is largely untrue; 3/4 of known U.S. assets are traded on an exchange. But! It's still important to get that last quarter right. And it turns out it's easy to do that. 4/

The BMIT is a "mark-to-market" tax on households with $100m+ in net worth. MtM means that you pay income tax on the annual gains/losses of your property, rather than the traditional rule where you wait until you sell. Many, many people, including some reasonable ones, think MtM can't work. 3/

Apparently the controversy is that some conservative commentators have started making, let's say, fairly inaccurate statements about the BMIT. Like that it will be a new annual federal tax on your home. Which is true. If your homes (& other net assets) are worth $100 million. 2/a few

Greetings, new law prof followers who write about normal non-boring things! I write about taxes (& random other things - yay tenure). Today's big internet tax controversy is about the Billionaire Minimum Income Tax. Which, as it happens, @davidgamage.bsky.social & I helped to write. 1/a few

In dialogue and tone it was a YA show, but then also with on-screen mass murders. Maybe they took too many studio notes, maybe they had no idea what they were doing. Either way, sure, tell me more about old Sith, just give me a creative team that can do it coherently.

It's too bad that bsky is still pretty quiet but the positive side of that is I can repost the heck out of NK-trolling content and no one will know. Why, you ask, troll NK? Did I take it personally when he filed an amicus brief trying to blow up the tax system? Yes, yes, I did.