How do we address the huge policy challenges of AI? Tax! Just presented my Sarah Polcz collaboration at Tax Research Network called 'Sharing the Algorithm.' We show how the public can and should hold a fractional ownership in A.I. by imposing a tax that A.I. firms pay in stock, not cash.

Short answer: No.

The only tax issue with any real traction in this election is tariff policy. Which is gratifying for historians everywhere but seriously disappointing for most tax people. My love/hate relationship with 2024 election politics, in a nutshell.

New U.S. CBO report on distribution of income and taxes is out with some interesting numbers. The top 1% paid 36% of all federal taxes in 2021 and 61.7% of all federal individual income taxes. cbo.gov/publication/60…

Check out the latest episode of the Tax Class podcast with Dr. Jennifer Bird-Pollan of Wayne Law. In this episode, we talk about the concept of income from canceled debt. Because of her background in philosophy, we couldn’t resist talking about John Locke. open.spotify.com/episode/5kFVjH…

Trump: “Trade wars are good and easy to win.” McKinley: “Commercial wars are unprofitable.”

No Tax On Tips — A Bad Idea With a Long History forbes.com/sites/taxnotes…

Super interesting call for papers and maybe even more interesting publication series

Tax Notes Joe Thorndike Smells like ... (wait for it) ... VOTE BUYING !!!

Links include: Michael J Bologna Bloomberg Tax Emily Hollingsworth Tax Notes Adam Hoffer Tax Foundation Laura Mahoney Christopher Jardine Andrey Yushkov Jared Walczak Perry Cooper Joe Thorndike And more! eidebailly.com/insights/blogs…

Don’t miss the next installment of Taxing Issues on October 23 from 2 to 3 p.m. ET. With Cara Griffith moderating, panelists – William Gale, Kyle Pomerleau, and Joe Thorndike – will examine the impact of the upcoming elections on tax policy. Register here: taxnotes.co/3BzHji4

"Former President Trump has big plans for steep new tariffs. And if he wins in November, no one is likely to stop him." Read Joe Thorndike's latest #TaxHistory perspective, now available outside of the paywall, here: taxnotes.co/3bwnB77

“Allan Lichtman is weirdly famous. Of course, by famous I mean historian-famous, not Taylor Swift-famous. ” taxnotes.com/featured-analy…

atf.gov/our-history/ti…

This is what it was like when Caesar and Pompey started openly fighting.

Tariff Revenue May Be Hard To Quit, But We’ve Done It Before via @forbes forbes.com/sites/taxnotes…

Not really up for debate. forbes.com/sites/taxnotes…