The Washington Post (March 22, 2017)
Edward Kleinbard was quoted in an article about why Congress sets retroactive dates for expected tax provisions and changes to the tax code. "To now, in March, retroactively cut taxes in January, is simply a windfall to the most affluent taxpayers in America," Kleinbard said
CNN (March 16, 2017)
Edward Kleinbard qrote an op-ed about how President Donald Trump's proposed budget will negatively effect the fiscal health of the United States and grow the federal deficit. "It may be hard to accept, but Reagan was the most fiscally feckless President in modern history. Trump is on track to repeat all the same mistakes, but to do so starting from a weaker fiscal balance sheet," Kleinbard wrote.
CNN (March 15, 2017)
Edward Kleinbard was quoted on why only President Donald Trump's full tax returns will represent a full disclosure of his financial assets. "Only complete returns can resolve the questions swirling around his alleged financial obligations and sources of income, such as Russian oligarchs or other sovereign countries," Kleinbard said.
New York Times (March 14, 2017)
Edward Kleinbard was quoted about why President Donald Trump is advocating to repeal the alternative minimum tax. “It’s disturbing that he is pushing to eliminate the only tax that really bit him in that year", says Kleinbard.
Digital Journal (March 13, 2017)
Edward Kleinbard's comments were cited about the financial implications of the Republican effort to repeal and replace the Affordable Care Act. “Repeal-and-replace [of Obamacare] is a gigantic transfer of wealth from the lowest-income Americans to the highest-income Americans,” says Kleinbard.
The Washington Post (March 11, 2017)
Edward Kleinbard was quoted on corporate tax reform and the necessary tax rate to make the plan revenue neutral.“The 20 percent rate is not economically driven,” Kleinbard said. “It’s purely a political number.”
National Public Radio (March 11, 2017)
Edward Kleinbard was quoted on the reasons that the tax code is such a lengthy document. "The tax code is thousands of pages long for a very simple reason: It is a model, in the economic sense, of all of economic activity," Kleinbard said. "Most Americans don't spend a lot of time worrying about the taxation of cutting timber or of being crew on a tuna boat. But there are rules for that, and you may find the rules irrelevant to you, but the rules are complex for a reason."
The New York Times (March 10, 2017)
Edward Kleinbard was quoted on the financial implications of the Republican effort to repeal and replace the Affordable Care Act. “Repeal-and-replace is a gigantic transfer of wealth from the lowest-income Americans to the highest-income Americans,” said Kleinbard.
The Conversation (March 10, 2017)
Edward Kleinbard was cited in an article about the arguments for and against taxing capital. "On the evidence of Kleinbard and the hoax, the theory that capital does not bear the economic cost of tax would therefore appear to be a rationalising discourse put forward by those who benefit from lower taxes on capital."
American Public Media's "Marketplace" (March 3, 2017)
Edward Kleinbard was interviewed on how party affiliation governs federal budget negotiations. "The budget is a document that has to be passed every year by the congress, signed by the President, says Kleinbard. "The budget is not the creation of the President, the budget is the creation of congress."
Bloomberg (February 28, 2017)
Edward Kleinbard was quoted about the likely tax policies that President Donald Trump will implement with the Republican majority in Congress. Trump “chose the path of least resistance -- to hunker down for a few more months” before Congress puts forth a tax bill, Kleinbard said. In the end, he said, that bill probably won’t include border adjustments. “It’s too complex -- it requires a year or two of debate, not several months.”
The Washington Post (February 22, 2017)
Edward Kleinbard and Mihir Desai of Harvard University wrote an op-ed on a possible compromise for President Donald Trump to release his tax returns. Kleinbard and Desai propose Trump release his returns to the Joint Committee on Taxation, which would review the returns and release a redacted version to the public. "American citizens would gain renewed confidence that the highest elected office in the land is occupied by an individual who has fulfilled his civic responsibilities. As distasteful compromises go, it is a win-win proposition," they wrote.
Bloomberg (February 17, 2017)
Edward Kleinbard was interviewed on how a proposed federal tax package may impact California's taxpayers and how California lawmakers will respond to the legislation.“There are countervailing factors that tend to be ignored," says Kleinbard. “It would not surprise me if it had significantly less impact than we think at first glance.”
Bloomberg (February 13, 2017)
Edward Kleinbard's definition of "stateless income" was cited. "Income derived by a multinational group from business activities in a country other than the domicile (however defined) of the group's ultimate parent company, but which is subject to tax only in a jurisdiction that is not the location of the customers or the factors of production through which the income was derived, and is not the domicile of the group's parent company.
Bloomberg (February 13, 2017)
Bloomberg cited a definition developed by Edward Kleinbard of the USC Gould School for "stateless income." "In 2011, University of Southern California Gould School of Law professor Edward Kleinbard defined “stateless income” as: income derived by a multinational group from business activities in a country other than the domicile (however defined) of the group's ultimate parent company, but which is subject to tax only in a jurisdiction that is not the location of the customers or the factors of production through which the income was derived, and is not the domicile of the group's parent company."
The Wall Street Journal (February 9, 2017)
The Wall Street Journal quoted Edward Kleinbard on how a GOP tax proposal will encourage American corporations to invest domestically to avoid foreign corporate income taxes.
The Washington Post (February 5, 2017)
Edward Kleinbard was quoted on how different factions of the Republican party focus on different facets of the caucus' proposed tax plan to fit their political views.The Republican plan “has turned out to be like a Rorschach test,” said Kleinbard. “People can see in it anything they choose.”
Politico (February 3, 2017)
Edward Kleinbard was quoted about how it may be difficult for the Republican Party to defend border adjustments in their tax plan if currency markets force higher prices for consumers. “I find it difficult to imagine members of Congress putting their political futures in the hands of the currency markets,” said Kleinbard. “Because if the magic doesn’t work, Joe Consumer does pay more at Walmart.”
The Wall Street Journal (February 2, 2017)
Edward Kleinbard as quoted on how a GOP tax proposal will encourage American corporations to invest domestically to avoid foreign corporate income taxes.
Los Angeles Times (January 26, 2017)
Edwards Kleinbard's op-ed was cited on how proposed changes to federal tax policies would eliminate corporate incentives to locate their tax homes outside of the United States and the impact of new import taxes on the value of the dollar.“Tax considerations thus would not influence business decisions as much as they do today,” said Kleinbard. The change, he added, “would largely eradicate the ‘stateless income’ tax planning games through which U.S. multinationals carry on their books more than $2.5 trillion in very-low-taxed offshore earnings, at the expense of the United States and other countries where those firms are actually doing business.”
Financial Times (January 24, 2017)
Edward Kleinbard was quoted in an article about on how corporations expect to pay interest on bonds and loans as part of their operating expenses. "The basic principle of corporate taxation is that a firm’s remittance to the government is linked to its net profits. Since the early 20th century, interest payments on bonds and loans have been considered an operating expense: the “rental cost of capital” says Kleinbard.
The Guardian (UK) (January 23, 2017)
Edward Kleinbard was quoted about how wealth has essentially become hereditary in America and on his new book, We Are Better Than This: How Government Should Spend Our Money. “Because we do that, those with great wealth can accumulate even more. We are drifting towards neo-feudalism. We’re making wealth a hereditary gene", says Kleinbard.
The Wall Street Journal (January 19, 2017)
Edward Kleinbard was quoted on the potential impacts on American wealth of a Republican proposal to adjust the corporate tax structure.
BYU Radio (January 19, 2017)
Edward Kleinbard was interviewed about how to apply empathy when crafting government policy and on his new book, We Are Better Than This: How Government Should Spend Our Money.
BYU Radio (January 19, 2017)
Edward Kleinbard was interviewed in a broadcast about how the government should spend our money. "The government is not serving us as well as government could, and its doing that as a reason that comes as a surprise to a lot of us which is, government is too small. it is not big", says Kleinbard. " We don't call on government to do the kinds of things that government could do better than a private sector".
Bloomberg (January 17, 2017)
Edward Kleinbard was quoted about PricewaterhouseCoopers LLP's hiring of 600 tax employees from General Electric Co. Few other corporations have a tax team as large, as sophisticated and as global as the one GE has amassed. More than 600 tax professionals don’t constitute a department, but an “army,” said Kleinbard.
Los Angeles Times (January 13, 2017)
Edward Kleinbards op-ed about a proposed tax plan that will affect how corporations will handle stateless income moving forward. According to Kleinbard, a change of this magnitude should be carefully vetted and debated instead of rushing through a vote was published. "e new Congress and President-elect Donald Trump have made corporate tax reform one of their top legislative priorities, after repeal of the Affordable Care Act. "The political jockeying is intense, but the most plausible scenario has congressional Republicans using reconciliation procedures to fast-track a corporate tax reform bill, which could be passed on straight party lines in both chambers without the possibility of Senate filibusters" says Kleinbard. "Once-in-a-generation corporate tax reform thus could move from perennial dream to law in 2017."
Politico (January 12, 2017)
Edward Kleinbard was quoted on how a currency adjustment to offset a proposed import tax may result in a wealth transfer for Americans holding assets abroad. “It is bewildering to me why a multitrillion-dollar hit to American firms and investors hasn’t been front and center in the debate,” he told Morning Tax.
Bloomberg (January 5, 2017)
Edward Kleinbard was quoted on how the Republican Party's tax plan will address stateless income. “It's one of the chief virtues of the idea,” said Kleinbard. “It is not the only way to address stateless income gaming, but it definitely is a reasonably robust strategy.”