id sid tid token lemma pos taxlaw-2807 1 1 realization realization NOUN taxlaw-2807 1 2 and and CCONJ taxlaw-2807 1 3 progressivity progressivity NOUN taxlaw-2807 1 4 ilan ilan PROPN taxlaw-2807 1 5 benshalom benshalom PROPN taxlaw-2807 1 6 * * PROPN taxlaw-2807 1 7 kendra kendra PROPN taxlaw-2807 1 8 stead stead VERB taxlaw-2807 1 9 * * PUNCT taxlaw-2807 1 10 * * PUNCT taxlaw-2807 1 11 abstract abstract ADJ taxlaw-2807 1 12 the the DET taxlaw-2807 1 13 realization realization NOUN taxlaw-2807 1 14 requirement requirement NOUN taxlaw-2807 1 15 is be AUX taxlaw-2807 1 16 the the DET taxlaw-2807 1 17 income income NOUN taxlaw-2807 1 18 tax tax NOUN taxlaw-2807 1 19 ’s ’s PART taxlaw-2807 1 20 original original ADJ taxlaw-2807 1 21 sin sin NOUN taxlaw-2807 1 22 . . PUNCT taxlaw-2807 2 1 although although SCONJ taxlaw-2807 2 2 longstanding longstande VERB taxlaw-2807 2 3 , , PUNCT taxlaw-2807 2 4 it it PRON taxlaw-2807 2 5 is be AUX taxlaw-2807 2 6 widely widely ADV taxlaw-2807 2 7 considered consider VERB taxlaw-2807 2 8 the the DET taxlaw-2807 2 9 main main ADJ taxlaw-2807 2 10 source source NOUN taxlaw-2807 2 11 of of ADP taxlaw-2807 2 12 tax tax NOUN taxlaw-2807 2 13 complexity complexity NOUN taxlaw-2807 2 14 , , PUNCT taxlaw-2807 2 15 inequity inequity NOUN taxlaw-2807 2 16 , , PUNCT taxlaw-2807 2 17 and and CCONJ taxlaw-2807 2 18 economic economic ADJ taxlaw-2807 2 19 distortion distortion NOUN taxlaw-2807 2 20 . . PUNCT taxlaw-2807 3 1 despite despite SCONJ taxlaw-2807 3 2 these these DET taxlaw-2807 3 3 problems problem NOUN taxlaw-2807 3 4 , , PUNCT taxlaw-2807 3 5 realization realization NOUN taxlaw-2807 3 6 is be AUX taxlaw-2807 3 7 also also ADV taxlaw-2807 3 8 considered consider VERB taxlaw-2807 3 9 a a DET taxlaw-2807 3 10 fundamental fundamental ADJ taxlaw-2807 3 11 element element NOUN taxlaw-2807 3 12 of of ADP taxlaw-2807 3 13 modern modern ADJ taxlaw-2807 3 14 income income NOUN taxlaw-2807 3 15 tax tax NOUN taxlaw-2807 3 16 regimes regime NOUN taxlaw-2807 3 17 . . PUNCT taxlaw-2807 4 1 it it PRON taxlaw-2807 4 2 is be AUX taxlaw-2807 4 3 explained explain VERB taxlaw-2807 4 4 early early ADV taxlaw-2807 4 5 in in ADP taxlaw-2807 4 6 most most ADJ taxlaw-2807 4 7 federal federal ADJ taxlaw-2807 4 8 income income NOUN taxlaw-2807 4 9 tax tax NOUN taxlaw-2807 4 10 courses course NOUN taxlaw-2807 4 11 as as SCONJ taxlaw-2807 4 12 necessitated necessitate VERB taxlaw-2807 4 13 by by ADP taxlaw-2807 4 14 problems problem NOUN taxlaw-2807 4 15 of of ADP taxlaw-2807 4 16 asset asset NOUN taxlaw-2807 4 17 valuation valuation NOUN taxlaw-2807 4 18 and and CCONJ taxlaw-2807 4 19 taxpayer taxpayer NOUN taxlaw-2807 4 20 liquidity liquidity NOUN taxlaw-2807 4 21 . . PUNCT taxlaw-2807 5 1 to to ADP taxlaw-2807 5 2 the the DET taxlaw-2807 5 3 dismay dismay NOUN taxlaw-2807 5 4 of of ADP taxlaw-2807 5 5 certain certain ADJ taxlaw-2807 5 6 professors professor NOUN taxlaw-2807 5 7 , , PUNCT taxlaw-2807 5 8 this this DET taxlaw-2807 5 9 explanation explanation NOUN taxlaw-2807 5 10 usually usually ADV taxlaw-2807 5 11 generates generate VERB taxlaw-2807 5 12 little little ADJ taxlaw-2807 5 13 class class NOUN taxlaw-2807 5 14 discussion discussion NOUN taxlaw-2807 5 15 . . PUNCT taxlaw-2807 6 1 more more ADV taxlaw-2807 6 2 worrisome worrisome ADJ taxlaw-2807 6 3 , , PUNCT taxlaw-2807 6 4 it it PRON taxlaw-2807 6 5 is be AUX taxlaw-2807 6 6 also also ADV taxlaw-2807 6 7 widely widely ADV taxlaw-2807 6 8 accepted accept VERB taxlaw-2807 6 9 outside outside ADP taxlaw-2807 6 10 the the DET taxlaw-2807 6 11 classroom classroom NOUN taxlaw-2807 6 12 — — PUNCT taxlaw-2807 6 13 prompting prompt VERB taxlaw-2807 6 14 few few ADJ taxlaw-2807 6 15 political political ADJ taxlaw-2807 6 16 objections objection NOUN taxlaw-2807 6 17 or or CCONJ taxlaw-2807 6 18 normative normative ADJ taxlaw-2807 6 19 academic academic ADJ taxlaw-2807 6 20 inquiries inquiry NOUN taxlaw-2807 6 21 . . PUNCT taxlaw-2807 7 1 the the DET taxlaw-2807 7 2 goal goal NOUN taxlaw-2807 7 3 of of ADP taxlaw-2807 7 4 this this DET taxlaw-2807 7 5 article article NOUN taxlaw-2807 7 6 is be AUX taxlaw-2807 7 7 to to PART taxlaw-2807 7 8 provide provide VERB taxlaw-2807 7 9 a a DET taxlaw-2807 7 10 normative normative ADJ taxlaw-2807 7 11 framework framework NOUN taxlaw-2807 7 12 that that PRON taxlaw-2807 7 13 allows allow VERB taxlaw-2807 7 14 policymakers policymaker NOUN taxlaw-2807 7 15 to to PART taxlaw-2807 7 16 better well ADV taxlaw-2807 7 17 understand understand VERB taxlaw-2807 7 18 the the DET taxlaw-2807 7 19 role role NOUN taxlaw-2807 7 20 of of ADP taxlaw-2807 7 21 the the DET taxlaw-2807 7 22 realization realization NOUN taxlaw-2807 7 23 requirement requirement NOUN taxlaw-2807 7 24 . . PUNCT taxlaw-2807 8 1 it it PRON taxlaw-2807 8 2 makes make VERB taxlaw-2807 8 3 two two NUM taxlaw-2807 8 4 related related ADJ taxlaw-2807 8 5 arguments argument NOUN taxlaw-2807 8 6 . . PUNCT taxlaw-2807 9 1 first first ADV taxlaw-2807 9 2 , , PUNCT taxlaw-2807 9 3 with with ADP taxlaw-2807 9 4 respect respect NOUN taxlaw-2807 9 5 to to ADP taxlaw-2807 9 6 certain certain ADJ taxlaw-2807 9 7 emotionally emotionally ADV taxlaw-2807 9 8 non non ADJ taxlaw-2807 9 9 - - ADJ taxlaw-2807 9 10 fungible fungible ADJ taxlaw-2807 9 11 ( ( PUNCT taxlaw-2807 9 12 personal personal ADJ taxlaw-2807 9 13 ) ) PUNCT taxlaw-2807 9 14 assets asset NOUN taxlaw-2807 9 15 , , PUNCT taxlaw-2807 9 16 the the DET taxlaw-2807 9 17 realization realization NOUN taxlaw-2807 9 18 requirement requirement NOUN taxlaw-2807 9 19 is be AUX taxlaw-2807 9 20 normatively normatively ADV taxlaw-2807 9 21 justified justify VERB taxlaw-2807 9 22 because because SCONJ taxlaw-2807 9 23 the the DET taxlaw-2807 9 24 market market NOUN taxlaw-2807 9 25 price price NOUN taxlaw-2807 9 26 is be AUX taxlaw-2807 9 27 not not PART taxlaw-2807 9 28 a a DET taxlaw-2807 9 29 good good ADJ taxlaw-2807 9 30 indication indication NOUN taxlaw-2807 9 31 of of ADP taxlaw-2807 9 32 the the DET taxlaw-2807 9 33 assets asset NOUN taxlaw-2807 9 34 ’ ' PUNCT taxlaw-2807 9 35 value value NOUN taxlaw-2807 9 36 to to ADP taxlaw-2807 9 37 their their PRON taxlaw-2807 9 38 owners owner NOUN taxlaw-2807 9 39 . . PUNCT taxlaw-2807 10 1 second second ADJ taxlaw-2807 10 2 , , PUNCT taxlaw-2807 10 3 contrary contrary ADV taxlaw-2807 10 4 to to ADP taxlaw-2807 10 5 the the DET taxlaw-2807 10 6 traditional traditional ADJ taxlaw-2807 10 7 view view NOUN taxlaw-2807 10 8 of of ADP taxlaw-2807 10 9 realization realization NOUN taxlaw-2807 10 10 as as ADP taxlaw-2807 10 11 a a DET taxlaw-2807 10 12 regressive regressive ADJ taxlaw-2807 10 13 element element NOUN taxlaw-2807 10 14 , , PUNCT taxlaw-2807 10 15 taxing tax VERB taxlaw-2807 10 16 only only ADV taxlaw-2807 10 17 these these DET taxlaw-2807 10 18 personal personal ADJ taxlaw-2807 10 19 assets asset NOUN taxlaw-2807 10 20 upon upon SCONJ taxlaw-2807 10 21 realization realization NOUN taxlaw-2807 10 22 would would AUX taxlaw-2807 10 23 promote promote VERB taxlaw-2807 10 24 income income NOUN taxlaw-2807 10 25 tax tax NOUN taxlaw-2807 10 26 progressivity progressivity NOUN taxlaw-2807 10 27 . . PUNCT taxlaw-2807 11 1 this this DET taxlaw-2807 11 2 article article NOUN taxlaw-2807 11 3 ’s ’s PART taxlaw-2807 11 4 normative normative ADJ taxlaw-2807 11 5 approach approach NOUN taxlaw-2807 11 6 provides provide VERB taxlaw-2807 11 7 a a DET taxlaw-2807 11 8 basis basis NOUN taxlaw-2807 11 9 for for ADP taxlaw-2807 11 10 developing develop VERB taxlaw-2807 11 11 a a DET taxlaw-2807 11 12 more more ADV taxlaw-2807 11 13 effective effective ADJ taxlaw-2807 11 14 and and CCONJ taxlaw-2807 11 15 coherent coherent ADJ taxlaw-2807 11 16 redistributive redistributive ADJ taxlaw-2807 11 17 income income NOUN taxlaw-2807 11 18 tax tax NOUN taxlaw-2807 11 19 policy policy NOUN taxlaw-2807 11 20 . . PUNCT taxlaw-2807 12 1 this this DET taxlaw-2807 12 2 analysis analysis NOUN taxlaw-2807 12 3 contributes contribute VERB taxlaw-2807 12 4 to to ADP taxlaw-2807 12 5 the the DET taxlaw-2807 12 6 broader broad ADJ taxlaw-2807 12 7 tax tax NOUN taxlaw-2807 12 8 reform reform NOUN taxlaw-2807 12 9 debate debate NOUN taxlaw-2807 12 10 and and CCONJ taxlaw-2807 12 11 opens open VERB taxlaw-2807 12 12 a a DET taxlaw-2807 12 13 novel novel ADJ taxlaw-2807 12 14 theoretical theoretical ADJ taxlaw-2807 12 15 inquiry inquiry NOUN taxlaw-2807 12 16 with with ADP taxlaw-2807 12 17 respect respect NOUN taxlaw-2807 12 18 to to ADP taxlaw-2807 12 19 the the DET taxlaw-2807 12 20 distributive distributive ADJ taxlaw-2807 12 21 impact impact NOUN taxlaw-2807 12 22 of of ADP taxlaw-2807 12 23 different different ADJ taxlaw-2807 12 24 types type NOUN taxlaw-2807 12 25 of of ADP taxlaw-2807 12 26 errors error NOUN taxlaw-2807 12 27 . . PUNCT taxlaw-2807 13 1 * * PUNCT taxlaw-2807 13 2 associate associate NOUN taxlaw-2807 13 3 professor professor NOUN taxlaw-2807 13 4 hebrew hebrew PROPN taxlaw-2807 13 5 university university NOUN taxlaw-2807 13 6 . . PUNCT taxlaw-2807 14 1 ll.b ll.b ADJ taxlaw-2807 14 2 . . PUNCT taxlaw-2807 15 1 hebrew hebrew PROPN taxlaw-2807 15 2 university university PROPN taxlaw-2807 15 3 of of ADP taxlaw-2807 15 4 jerusalem jerusalem PROPN taxlaw-2807 15 5 , , PUNCT taxlaw-2807 15 6 ll.m ll.m X taxlaw-2807 15 7 . . PUNCT taxlaw-2807 16 1 university university NOUN taxlaw-2807 16 2 college college PROPN taxlaw-2807 16 3 london london PROPN taxlaw-2807 16 4 , , PUNCT taxlaw-2807 16 5 ll.m ll.m X taxlaw-2807 16 6 . . PUNCT taxlaw-2807 16 7 & & CCONJ taxlaw-2807 16 8 j.s.d j.s.d PROPN taxlaw-2807 16 9 . . PUNCT taxlaw-2807 17 1 yale yale PROPN taxlaw-2807 17 2 law law PROPN taxlaw-2807 17 3 school school NOUN taxlaw-2807 17 4 . . PUNCT taxlaw-2807 18 1 we we PRON taxlaw-2807 18 2 are be AUX taxlaw-2807 18 3 thankful thankful ADJ taxlaw-2807 18 4 to to ADP taxlaw-2807 18 5 the the DET taxlaw-2807 18 6 following follow VERB taxlaw-2807 18 7 people people NOUN taxlaw-2807 18 8 for for ADP taxlaw-2807 18 9 all all PRON taxlaw-2807 18 10 of of ADP taxlaw-2807 18 11 their their PRON taxlaw-2807 18 12 comments comment NOUN taxlaw-2807 18 13 and and CCONJ taxlaw-2807 18 14 suggestions suggestion NOUN taxlaw-2807 18 15 along along ADP taxlaw-2807 18 16 the the DET taxlaw-2807 18 17 way way NOUN taxlaw-2807 18 18 : : PUNCT taxlaw-2807 18 19 reuven reuven VERB taxlaw-2807 18 20 avi avi PROPN taxlaw-2807 18 21 - - PUNCT taxlaw-2807 18 22 yonah yonah ADJ taxlaw-2807 18 23 , , PUNCT taxlaw-2807 18 24 edna edna PROPN taxlaw-2807 18 25 benshalom benshalom PROPN taxlaw-2807 18 26 , , PUNCT taxlaw-2807 18 27 gadi gadi PROPN taxlaw-2807 18 28 benshalom benshalom PROPN taxlaw-2807 18 29 , , PUNCT taxlaw-2807 18 30 tom tom PROPN taxlaw-2807 18 31 brennan brennan PROPN taxlaw-2807 18 32 , , PUNCT taxlaw-2807 18 33 assaf assaf PROPN taxlaw-2807 18 34 hamdani hamdani PROPN taxlaw-2807 18 35 , , PUNCT taxlaw-2807 18 36 sharon sharon PROPN taxlaw-2807 18 37 hannes hannes PROPN taxlaw-2807 18 38 , , PUNCT taxlaw-2807 18 39 stephanie stephanie PROPN taxlaw-2807 18 40 hoffer hoffer PROPN taxlaw-2807 18 41 , , PUNCT taxlaw-2807 18 42 susan susan PROPN taxlaw-2807 18 43 morse morse PROPN taxlaw-2807 18 44 , , PUNCT taxlaw-2807 18 45 david david PROPN taxlaw-2807 18 46 pozen pozen PROPN taxlaw-2807 18 47 , , PUNCT taxlaw-2807 18 48 and and CCONJ taxlaw-2807 18 49 edward edward PROPN taxlaw-2807 18 50 zelinsky zelinsky PROPN taxlaw-2807 18 51 . . PUNCT taxlaw-2807 19 1 we we PRON taxlaw-2807 19 2 would would AUX taxlaw-2807 19 3 also also ADV taxlaw-2807 19 4 like like VERB taxlaw-2807 19 5 to to PART taxlaw-2807 19 6 thank thank VERB taxlaw-2807 19 7 participants participant NOUN taxlaw-2807 19 8 of of ADP taxlaw-2807 19 9 the the DET taxlaw-2807 19 10 university university PROPN taxlaw-2807 19 11 of of ADP taxlaw-2807 19 12 toronto toronto PROPN taxlaw-2807 19 13 faculty faculty NOUN taxlaw-2807 19 14 of of ADP taxlaw-2807 19 15 law law NOUN taxlaw-2807 19 16 tax tax NOUN taxlaw-2807 19 17 policy policy NOUN taxlaw-2807 19 18 workshop workshop NOUN taxlaw-2807 19 19 for for ADP taxlaw-2807 19 20 their their PRON taxlaw-2807 19 21 very very ADV taxlaw-2807 19 22 helpful helpful ADJ taxlaw-2807 19 23 comments comment NOUN taxlaw-2807 19 24 . . PUNCT taxlaw-2807 20 1 we we PRON taxlaw-2807 20 2 would would AUX taxlaw-2807 20 3 like like VERB taxlaw-2807 20 4 to to PART taxlaw-2807 20 5 extend extend VERB taxlaw-2807 20 6 special special ADJ taxlaw-2807 20 7 thanks thank NOUN taxlaw-2807 20 8 to to ADP taxlaw-2807 20 9 ben ben PROPN taxlaw-2807 20 10 alarie alarie PROPN taxlaw-2807 20 11 , , PUNCT taxlaw-2807 20 12 avital avital PROPN taxlaw-2807 20 13 benshalom benshalom PROPN taxlaw-2807 20 14 , , PUNCT taxlaw-2807 20 15 david david PROPN taxlaw-2807 20 16 enoch enoch PROPN taxlaw-2807 20 17 , , PUNCT taxlaw-2807 20 18 lee lee PROPN taxlaw-2807 20 19 fennell fennell PROPN taxlaw-2807 20 20 , , PUNCT taxlaw-2807 20 21 alon alon PROPN taxlaw-2807 20 22 harel harel PROPN taxlaw-2807 20 23 , , PUNCT taxlaw-2807 20 24 sarah sarah PROPN taxlaw-2807 20 25 lawsky lawsky PROPN taxlaw-2807 20 26 , , PUNCT taxlaw-2807 20 27 debra debra PROPN taxlaw-2807 20 28 lefler lefler PROPN taxlaw-2807 20 29 , , PUNCT taxlaw-2807 20 30 daphna daphna VERB taxlaw-2807 20 31 lewinsohn lewinsohn PROPN taxlaw-2807 20 32 - - PUNCT taxlaw-2807 20 33 zamir zamir PROPN taxlaw-2807 20 34 , , PUNCT taxlaw-2807 20 35 jacob jacob PROPN taxlaw-2807 20 36 nussim nussim PROPN taxlaw-2807 20 37 , , PUNCT taxlaw-2807 20 38 diane diane NOUN taxlaw-2807 20 39 ring ring NOUN taxlaw-2807 20 40 , , PUNCT taxlaw-2807 20 41 and and CCONJ taxlaw-2807 20 42 eyal eyal PROPN taxlaw-2807 20 43 zamir zamir PROPN taxlaw-2807 20 44 for for ADP taxlaw-2807 20 45 their their PRON taxlaw-2807 20 46 detailed detailed ADJ taxlaw-2807 20 47 comments comment NOUN taxlaw-2807 20 48 . . PUNCT taxlaw-2807 21 1 most most ADJ taxlaw-2807 21 2 of of ADP taxlaw-2807 21 3 all all PRON taxlaw-2807 21 4 , , PUNCT taxlaw-2807 21 5 we we PRON taxlaw-2807 21 6 would would AUX taxlaw-2807 21 7 like like VERB taxlaw-2807 21 8 to to PART taxlaw-2807 21 9 thank thank VERB taxlaw-2807 21 10 avihay avihay PROPN taxlaw-2807 21 11 dorfman dorfman PROPN taxlaw-2807 21 12 and and CCONJ taxlaw-2807 21 13 david david PROPN taxlaw-2807 21 14 gamage gamage NOUN taxlaw-2807 21 15 for for ADP taxlaw-2807 21 16 their their PRON taxlaw-2807 21 17 invaluable invaluable ADJ taxlaw-2807 21 18 framing framing NOUN taxlaw-2807 21 19 and and CCONJ taxlaw-2807 21 20 substantive substantive ADJ taxlaw-2807 21 21 comments comment NOUN taxlaw-2807 21 22 . . PUNCT taxlaw-2807 22 1 * * PUNCT taxlaw-2807 22 2 * * PUNCT taxlaw-2807 22 3 j.d j.d PROPN taxlaw-2807 22 4 . . PROPN taxlaw-2807 22 5 northwestern northwestern PROPN taxlaw-2807 22 6 university university PROPN taxlaw-2807 22 7 school school NOUN taxlaw-2807 22 8 of of ADP taxlaw-2807 22 9 law law NOUN taxlaw-2807 22 10 . . PUNCT taxlaw-2807 23 1 i i PRON taxlaw-2807 23 2 would would AUX taxlaw-2807 23 3 like like VERB taxlaw-2807 23 4 to to PART taxlaw-2807 23 5 thank thank VERB taxlaw-2807 23 6 ryan ryan PROPN taxlaw-2807 23 7 sniatecki sniatecki PROPN taxlaw-2807 23 8 , , PUNCT taxlaw-2807 23 9 scott scott PROPN taxlaw-2807 23 10 lerner lerner PROPN taxlaw-2807 23 11 , , PUNCT taxlaw-2807 23 12 and and CCONJ taxlaw-2807 23 13 jonathan jonathan PROPN taxlaw-2807 23 14 conon conon PROPN taxlaw-2807 23 15 for for ADP taxlaw-2807 23 16 their their PRON taxlaw-2807 23 17 thoughtful thoughtful ADJ taxlaw-2807 23 18 comments comment NOUN taxlaw-2807 23 19 . . PUNCT taxlaw-2807 24 1 44 44 NUM taxlaw-2807 24 2 columbia columbia PROPN taxlaw-2807 24 3 journal journal PROPN taxlaw-2807 24 4 of of ADP taxlaw-2807 24 5 tax tax NOUN taxlaw-2807 24 6 law law NOUN taxlaw-2807 24 7 [ [ X taxlaw-2807 24 8 vol.3:43 vol.3:43 PROPN taxlaw-2807 24 9 introduction introduction NOUN taxlaw-2807 24 10 ............................................................................................................ ............................................................................................................ PROPN taxlaw-2807 25 1 45 45 NUM taxlaw-2807 25 2 
 
 SPACE taxlaw-2807 25 3 i. i. NOUN taxlaw-2807 25 4 
 
 SPACE taxlaw-2807 25 5 the the DET taxlaw-2807 25 6 realization realization NOUN taxlaw-2807 25 7 requirement requirement NOUN taxlaw-2807 25 8 — — PUNCT taxlaw-2807 25 9 costs cost NOUN taxlaw-2807 25 10 and and CCONJ taxlaw-2807 25 11 endurances endurance NOUN taxlaw-2807 25 12 of of ADP taxlaw-2807 25 13 an an DET taxlaw-2807 25 14 achilles achille NOUN taxlaw-2807 25 15 ’ ' PUNCT taxlaw-2807 25 16 heel heel NOUN taxlaw-2807 25 17 .................................................................................................... .................................................................................................... PUNCT taxlaw-2807 25 18 49 49 NUM taxlaw-2807 25 19 
 
 SPACE taxlaw-2807 25 20 a. a. NOUN taxlaw-2807 25 21 
 
 SPACE taxlaw-2807 25 22 the the DET taxlaw-2807 25 23 function function NOUN taxlaw-2807 25 24 and and CCONJ taxlaw-2807 25 25 social social ADJ taxlaw-2807 25 26 costs cost NOUN taxlaw-2807 25 27 of of ADP taxlaw-2807 25 28 the the DET taxlaw-2807 25 29 realization realization NOUN taxlaw-2807 25 30 requirement requirement NOUN taxlaw-2807 25 31 ......................... ......................... PUNCT taxlaw-2807 25 32 49 49 NUM taxlaw-2807 25 33 
 
 SPACE taxlaw-2807 25 34 b. b. PROPN taxlaw-2807 25 35 
 
 SPACE taxlaw-2807 25 36 technical technical ADJ taxlaw-2807 25 37 in in ADP taxlaw-2807 25 38 nature nature NOUN taxlaw-2807 25 39 — — PUNCT taxlaw-2807 25 40 the the DET taxlaw-2807 25 41 valuation valuation PROPN taxlaw-2807 25 42 liquidity liquidity NOUN taxlaw-2807 25 43 consensus consensus PROPN taxlaw-2807 25 44 ................................. ................................. PUNCT taxlaw-2807 25 45 53 53 NUM taxlaw-2807 25 46 
 
 SPACE taxlaw-2807 25 47 ii ii NOUN taxlaw-2807 25 48 . . PUNCT taxlaw-2807 25 49 
 
 SPACE taxlaw-2807 25 50 with with ADP taxlaw-2807 25 51 it it PRON taxlaw-2807 25 52 or or CCONJ taxlaw-2807 25 53 without without ADP taxlaw-2807 25 54 it it PRON taxlaw-2807 25 55 ? ? PUNCT taxlaw-2807 26 1 existing exist VERB taxlaw-2807 26 2 approaches approach NOUN taxlaw-2807 26 3 to to ADP taxlaw-2807 26 4 realization realization NOUN taxlaw-2807 26 5 .... .... PUNCT taxlaw-2807 27 1 55 55 NUM taxlaw-2807 27 2 
 
 SPACE taxlaw-2807 27 3 a. a. NOUN taxlaw-2807 27 4 
 
 SPACE taxlaw-2807 27 5 without without ADP taxlaw-2807 27 6 it it PRON taxlaw-2807 27 7 : : PUNCT taxlaw-2807 27 8 a a DET taxlaw-2807 27 9 less less ADV taxlaw-2807 27 10 realization realization NOUN taxlaw-2807 27 11 - - PUNCT taxlaw-2807 27 12 based base VERB taxlaw-2807 27 13 income income NOUN taxlaw-2807 27 14 tax tax NOUN taxlaw-2807 27 15 regime regime NOUN taxlaw-2807 27 16 ................................ ................................ PUNCT taxlaw-2807 27 17 55 55 NUM taxlaw-2807 27 18 
 
 SPACE taxlaw-2807 27 19 b. b. NOUN taxlaw-2807 27 20 
 
 SPACE taxlaw-2807 27 21 with with ADP taxlaw-2807 27 22 it it PRON taxlaw-2807 27 23 : : PUNCT taxlaw-2807 27 24 some some DET taxlaw-2807 27 25 hidden hidden ADJ taxlaw-2807 27 26 justifications justification NOUN taxlaw-2807 27 27 for for ADP taxlaw-2807 27 28 realization realization NOUN taxlaw-2807 27 29 ........................................... ........................................... PUNCT taxlaw-2807 27 30 57 57 NUM taxlaw-2807 27 31 
 
 SPACE taxlaw-2807 27 32 c. c. PROPN taxlaw-2807 27 33 
 
 SPACE taxlaw-2807 27 34 the the DET taxlaw-2807 27 35 policy policy NOUN taxlaw-2807 27 36 costs cost NOUN taxlaw-2807 27 37 of of ADP taxlaw-2807 27 38 a a DET taxlaw-2807 27 39 theoretical theoretical ADJ taxlaw-2807 27 40 debate debate NOUN taxlaw-2807 27 41 ............................................................ ............................................................ PUNCT taxlaw-2807 27 42 60 60 NUM taxlaw-2807 27 43 
 
 SPACE taxlaw-2807 27 44 iii iii NOUN taxlaw-2807 27 45 . . PUNCT taxlaw-2807 27 46 
 
 SPACE taxlaw-2807 27 47 a a DET taxlaw-2807 27 48 normative normative ADJ taxlaw-2807 27 49 defense defense NOUN taxlaw-2807 27 50 for for ADP taxlaw-2807 27 51 realization realization NOUN taxlaw-2807 27 52 — — PUNCT taxlaw-2807 27 53 promoting promote VERB taxlaw-2807 27 54 income income NOUN taxlaw-2807 27 55 tax tax NOUN taxlaw-2807 27 56 progressivity progressivity NOUN taxlaw-2807 27 57 ..................................................................................................... ..................................................................................................... PUNCT taxlaw-2807 27 58 61 61 NUM taxlaw-2807 27 59 
 
 SPACE taxlaw-2807 27 60 a. a. NOUN taxlaw-2807 27 61 
 
 SPACE taxlaw-2807 27 62 tax tax NOUN taxlaw-2807 27 63 and and CCONJ taxlaw-2807 27 64 redistribution redistribution NOUN taxlaw-2807 27 65 : : PUNCT taxlaw-2807 27 66 at at ADP taxlaw-2807 27 67 the the DET taxlaw-2807 27 68 crossroads crossroad NOUN taxlaw-2807 27 69 of of ADP taxlaw-2807 27 70 philosophy philosophy NOUN taxlaw-2807 27 71 and and CCONJ taxlaw-2807 27 72 public public ADJ taxlaw-2807 27 73 finance finance NOUN taxlaw-2807 27 74 ... ... PUNCT taxlaw-2807 27 75 62 62 NUM taxlaw-2807 27 76 
 
 SPACE taxlaw-2807 27 77 b. b. PROPN taxlaw-2807 27 78 
 
 SPACE taxlaw-2807 27 79 market market NOUN taxlaw-2807 27 80 price price NOUN taxlaw-2807 27 81 , , PUNCT taxlaw-2807 27 82 personal personal ADJ taxlaw-2807 27 83 assets asset NOUN taxlaw-2807 27 84 , , PUNCT taxlaw-2807 27 85 and and CCONJ taxlaw-2807 27 86 interpersonal interpersonal ADJ taxlaw-2807 27 87 comparisons comparison NOUN taxlaw-2807 27 88 .......................... .......................... PUNCT taxlaw-2807 27 89 63 63 NUM taxlaw-2807 27 90 
 
 SPACE taxlaw-2807 27 91 c. c. PROPN taxlaw-2807 27 92 
 
 SPACE taxlaw-2807 27 93 realization realization NOUN taxlaw-2807 27 94 as as ADP taxlaw-2807 27 95 a a DET taxlaw-2807 27 96 progressively progressively ADV taxlaw-2807 27 97 distributed distribute VERB taxlaw-2807 27 98 tax tax NOUN taxlaw-2807 27 99 benefit benefit NOUN taxlaw-2807 27 100 ...................................... ...................................... PUNCT taxlaw-2807 27 101 69 69 NUM taxlaw-2807 27 102 
 
 SPACE taxlaw-2807 27 103 d. d. PROPN taxlaw-2807 27 104 
 
 SPACE taxlaw-2807 27 105 advantages advantage NOUN taxlaw-2807 27 106 and and CCONJ taxlaw-2807 27 107 limitations limitation NOUN taxlaw-2807 27 108 of of ADP taxlaw-2807 27 109 the the DET taxlaw-2807 27 110 proposal proposal NOUN taxlaw-2807 27 111 ....................................................... ....................................................... PUNCT taxlaw-2807 27 112 72 72 NUM taxlaw-2807 27 113 
 
 SPACE taxlaw-2807 27 114 iv iv NUM taxlaw-2807 27 115 . . PUNCT taxlaw-2807 27 116 
 
 SPACE taxlaw-2807 27 117 the the DET taxlaw-2807 27 118 road road NOUN taxlaw-2807 27 119 ahead ahead ADV taxlaw-2807 27 120 — — PUNCT taxlaw-2807 27 121 preliminary preliminary ADJ taxlaw-2807 27 122 policy policy NOUN taxlaw-2807 27 123 implications implication NOUN taxlaw-2807 27 124 ..................... ..................... PUNCT taxlaw-2807 27 125 78 78 NUM taxlaw-2807 27 126 
 
 SPACE taxlaw-2807 27 127 a. a. NOUN taxlaw-2807 27 128 
 
 SPACE taxlaw-2807 27 129 taking take VERB taxlaw-2807 27 130 the the DET taxlaw-2807 27 131 first first ADJ taxlaw-2807 27 132 step step NOUN taxlaw-2807 27 133 : : PUNCT taxlaw-2807 27 134 a a DET taxlaw-2807 27 135 modest modest ADJ taxlaw-2807 27 136 real real ADJ taxlaw-2807 27 137 - - PUNCT taxlaw-2807 27 138 world world NOUN taxlaw-2807 27 139 reform reform NOUN taxlaw-2807 27 140 proposal proposal NOUN taxlaw-2807 27 141 .......................... .......................... PUNCT taxlaw-2807 27 142 79 79 NUM taxlaw-2807 27 143 
 
 SPACE taxlaw-2807 27 144 b. b. NOUN taxlaw-2807 27 145 
 
 SPACE taxlaw-2807 27 146 future future ADJ taxlaw-2807 27 147 avenues avenue NOUN taxlaw-2807 27 148 of of ADP taxlaw-2807 27 149 research research NOUN taxlaw-2807 27 150 ................................................................................ ................................................................................ PUNCT taxlaw-2807 27 151 81 81 NUM taxlaw-2807 27 152 
 
 SPACE taxlaw-2807 27 153 conclusions conclusion NOUN taxlaw-2807 27 154 ............................................................................................................... ............................................................................................................... PROPN taxlaw-2807 28 1 84 84 NUM taxlaw-2807 28 2 
 
 SPACE taxlaw-2807 28 3 2011 2011 NUM taxlaw-2807 28 4 ] ] PUNCT taxlaw-2807 28 5 realization realization NOUN taxlaw-2807 28 6 and and CCONJ taxlaw-2807 28 7 progressivity progressivity NOUN taxlaw-2807 28 8 45 45 NUM taxlaw-2807 28 9 introduction introduction NOUN taxlaw-2807 28 10 imagine imagine VERB taxlaw-2807 28 11 a a DET taxlaw-2807 28 12 legal legal ADJ taxlaw-2807 28 13 arrangement arrangement NOUN taxlaw-2807 28 14 that that PRON taxlaw-2807 28 15 transfers transfer VERB taxlaw-2807 28 16 a a DET taxlaw-2807 28 17 huge huge ADJ taxlaw-2807 28 18 percentage percentage NOUN taxlaw-2807 28 19 of of ADP taxlaw-2807 28 20 the the DET taxlaw-2807 28 21 federal federal ADJ taxlaw-2807 28 22 budget budget NOUN taxlaw-2807 28 23 to to ADP taxlaw-2807 28 24 wealthy wealthy ADJ taxlaw-2807 28 25 americans americans PROPN taxlaw-2807 28 26 , , PUNCT taxlaw-2807 28 27 is be AUX taxlaw-2807 28 28 inefficient inefficient ADJ taxlaw-2807 28 29 , , PUNCT taxlaw-2807 28 30 results result NOUN taxlaw-2807 28 31 in in ADP taxlaw-2807 28 32 complexity complexity NOUN taxlaw-2807 28 33 , , PUNCT taxlaw-2807 28 34 and and CCONJ taxlaw-2807 28 35 encourages encourage VERB taxlaw-2807 28 36 dishonesty dishonesty NOUN taxlaw-2807 28 37 . . PUNCT taxlaw-2807 29 1 further far ADV taxlaw-2807 29 2 imagine imagine VERB taxlaw-2807 29 3 that that SCONJ taxlaw-2807 29 4 when when SCONJ taxlaw-2807 29 5 called call VERB taxlaw-2807 29 6 upon upon SCONJ taxlaw-2807 29 7 to to PART taxlaw-2807 29 8 explain explain VERB taxlaw-2807 29 9 the the DET taxlaw-2807 29 10 arrangement arrangement NOUN taxlaw-2807 29 11 ’s ’s PART taxlaw-2807 29 12 objectives objective NOUN taxlaw-2807 29 13 , , PUNCT taxlaw-2807 29 14 policymakers policymaker NOUN taxlaw-2807 29 15 , , PUNCT taxlaw-2807 29 16 professionals professional NOUN taxlaw-2807 29 17 , , PUNCT taxlaw-2807 29 18 and and CCONJ taxlaw-2807 29 19 academics academic NOUN taxlaw-2807 29 20 merely merely ADV taxlaw-2807 29 21 shrug shrug VERB taxlaw-2807 29 22 and and CCONJ taxlaw-2807 29 23 reply reply VERB taxlaw-2807 29 24 that that SCONJ taxlaw-2807 29 25 it it PRON taxlaw-2807 29 26 is be AUX taxlaw-2807 29 27 technical technical ADJ taxlaw-2807 29 28 in in ADP taxlaw-2807 29 29 nature nature NOUN taxlaw-2807 29 30 and and CCONJ taxlaw-2807 29 31 driven drive VERB taxlaw-2807 29 32 by by ADP taxlaw-2807 29 33 administrative administrative ADJ taxlaw-2807 29 34 convenience convenience NOUN taxlaw-2807 29 35 . . PUNCT taxlaw-2807 30 1 would would AUX taxlaw-2807 30 2 you you PRON taxlaw-2807 30 3 expect expect VERB taxlaw-2807 30 4 the the DET taxlaw-2807 30 5 arrangement arrangement NOUN taxlaw-2807 30 6 to to PART taxlaw-2807 30 7 last last VERB taxlaw-2807 30 8 for for ADP taxlaw-2807 30 9 even even ADV taxlaw-2807 30 10 a a DET taxlaw-2807 30 11 day day NOUN taxlaw-2807 30 12 ? ? PUNCT taxlaw-2807 31 1 certainly certainly ADV taxlaw-2807 31 2 not not PART taxlaw-2807 31 3 if if SCONJ taxlaw-2807 31 4 it it PRON taxlaw-2807 31 5 were be AUX taxlaw-2807 31 6 part part NOUN taxlaw-2807 31 7 of of ADP taxlaw-2807 31 8 the the DET taxlaw-2807 31 9 federal federal ADJ taxlaw-2807 31 10 spending spending NOUN taxlaw-2807 31 11 budget budget NOUN taxlaw-2807 31 12 . . PUNCT taxlaw-2807 32 1 however however ADV taxlaw-2807 32 2 , , PUNCT taxlaw-2807 32 3 the the DET taxlaw-2807 32 4 realization realization NOUN taxlaw-2807 32 5 requirement requirement NOUN taxlaw-2807 32 6 has have AUX taxlaw-2807 32 7 created create VERB taxlaw-2807 32 8 exactly exactly ADV taxlaw-2807 32 9 such such DET taxlaw-2807 32 10 a a DET taxlaw-2807 32 11 situation situation NOUN taxlaw-2807 32 12 in in ADP taxlaw-2807 32 13 the the DET taxlaw-2807 32 14 federal federal ADJ taxlaw-2807 32 15 income income NOUN taxlaw-2807 32 16 tax tax NOUN taxlaw-2807 32 17 context context NOUN taxlaw-2807 32 18 for for ADP taxlaw-2807 32 19 over over ADP taxlaw-2807 32 20 a a DET taxlaw-2807 32 21 century century NOUN taxlaw-2807 32 22 . . PUNCT taxlaw-2807 33 1 this this DET taxlaw-2807 33 2 article article NOUN taxlaw-2807 33 3 critiques critique VERB taxlaw-2807 33 4 the the DET taxlaw-2807 33 5 academic academic ADJ taxlaw-2807 33 6 literature literature NOUN taxlaw-2807 33 7 dealing deal VERB taxlaw-2807 33 8 with with ADP taxlaw-2807 33 9 realization realization NOUN taxlaw-2807 33 10 and and CCONJ taxlaw-2807 33 11 offers offer VERB taxlaw-2807 33 12 a a DET taxlaw-2807 33 13 new new ADJ taxlaw-2807 33 14 understanding understanding NOUN taxlaw-2807 33 15 of of ADP taxlaw-2807 33 16 the the DET taxlaw-2807 33 17 requirement requirement NOUN taxlaw-2807 33 18 ’s ’s PART taxlaw-2807 33 19 function function NOUN taxlaw-2807 33 20 : : PUNCT taxlaw-2807 33 21 realization realization NOUN taxlaw-2807 33 22 is be AUX taxlaw-2807 33 23 another another DET taxlaw-2807 33 24 way way NOUN taxlaw-2807 33 25 to to PART taxlaw-2807 33 26 promote promote VERB taxlaw-2807 33 27 distributive distributive ADJ taxlaw-2807 33 28 justice justice NOUN taxlaw-2807 33 29 within within ADP taxlaw-2807 33 30 the the DET taxlaw-2807 33 31 tax tax NOUN taxlaw-2807 33 32 regime regime NOUN taxlaw-2807 33 33 . . PUNCT taxlaw-2807 34 1 this this DET taxlaw-2807 34 2 insight insight NOUN taxlaw-2807 34 3 provides provide VERB taxlaw-2807 34 4 policymakers policymaker NOUN taxlaw-2807 34 5 a a DET taxlaw-2807 34 6 normative normative ADJ taxlaw-2807 34 7 basis basis NOUN taxlaw-2807 34 8 from from ADP taxlaw-2807 34 9 which which PRON taxlaw-2807 34 10 to to PART taxlaw-2807 34 11 combat combat VERB taxlaw-2807 34 12 the the DET taxlaw-2807 34 13 realization realization NOUN taxlaw-2807 34 14 requirement requirement NOUN taxlaw-2807 34 15 ’s ’s PART taxlaw-2807 34 16 negative negative ADJ taxlaw-2807 34 17 effects effect NOUN taxlaw-2807 34 18 in in ADP taxlaw-2807 34 19 a a DET taxlaw-2807 34 20 principled principled ADJ taxlaw-2807 34 21 way way NOUN taxlaw-2807 34 22 . . PUNCT taxlaw-2807 35 1 it it PRON taxlaw-2807 35 2 also also ADV taxlaw-2807 35 3 raises raise VERB taxlaw-2807 35 4 the the DET taxlaw-2807 35 5 broader broad ADJ taxlaw-2807 35 6 question question NOUN taxlaw-2807 35 7 of of ADP taxlaw-2807 35 8 the the DET taxlaw-2807 35 9 role role NOUN taxlaw-2807 35 10 that that PRON taxlaw-2807 35 11 the the DET taxlaw-2807 35 12 market market NOUN taxlaw-2807 35 13 prices price NOUN taxlaw-2807 35 14 of of ADP taxlaw-2807 35 15 various various ADJ taxlaw-2807 35 16 assets asset NOUN taxlaw-2807 35 17 should should AUX taxlaw-2807 35 18 have have VERB taxlaw-2807 35 19 in in ADP taxlaw-2807 35 20 determining determine VERB taxlaw-2807 35 21 distributive distributive ADJ taxlaw-2807 35 22 policies policy NOUN taxlaw-2807 35 23 . . PUNCT taxlaw-2807 36 1 the the DET taxlaw-2807 36 2 realization realization NOUN taxlaw-2807 36 3 requirement requirement NOUN taxlaw-2807 36 4 means mean VERB taxlaw-2807 36 5 that that SCONJ taxlaw-2807 36 6 tax tax NOUN taxlaw-2807 36 7 liability liability NOUN taxlaw-2807 36 8 is be AUX taxlaw-2807 36 9 assessed assess VERB taxlaw-2807 36 10 only only ADV taxlaw-2807 36 11 when when SCONJ taxlaw-2807 36 12 assets asset NOUN taxlaw-2807 36 13 are be AUX taxlaw-2807 36 14 exchanged exchange VERB taxlaw-2807 36 15 on on ADP taxlaw-2807 36 16 the the DET taxlaw-2807 36 17 market market NOUN taxlaw-2807 36 18 , , PUNCT taxlaw-2807 36 19 and and CCONJ taxlaw-2807 36 20 not not PART taxlaw-2807 36 21 , , PUNCT taxlaw-2807 36 22 as as SCONJ taxlaw-2807 36 23 an an DET taxlaw-2807 36 24 “ " PUNCT taxlaw-2807 36 25 ideal ideal ADJ taxlaw-2807 36 26 ” " PUNCT taxlaw-2807 36 27 income income NOUN taxlaw-2807 36 28 tax tax NOUN taxlaw-2807 36 29 would would AUX taxlaw-2807 36 30 dictate dictate VERB taxlaw-2807 36 31 , , PUNCT taxlaw-2807 36 32 when when SCONJ taxlaw-2807 36 33 the the DET taxlaw-2807 36 34 market market NOUN taxlaw-2807 36 35 values value NOUN taxlaw-2807 36 36 of of ADP taxlaw-2807 36 37 assets asset NOUN taxlaw-2807 36 38 change.1 change.1 VERB taxlaw-2807 36 39 this this DET taxlaw-2807 36 40 seemingly seemingly ADV taxlaw-2807 36 41 simple simple ADJ taxlaw-2807 36 42 requirement requirement NOUN taxlaw-2807 36 43 is be AUX taxlaw-2807 36 44 the the DET taxlaw-2807 36 45 most most ADV taxlaw-2807 36 46 “ " PUNCT taxlaw-2807 36 47 well well ADV taxlaw-2807 36 48 established establish VERB taxlaw-2807 36 49 , , PUNCT taxlaw-2807 36 50 and and CCONJ taxlaw-2807 36 51 yet yet ADV taxlaw-2807 36 52 so so ADV taxlaw-2807 36 53 widely widely ADV taxlaw-2807 36 54 criticized criticize VERB taxlaw-2807 36 55 ” " PUNCT taxlaw-2807 36 56 attribute attribute NOUN taxlaw-2807 36 57 of of ADP taxlaw-2807 36 58 our our PRON taxlaw-2807 36 59 income income NOUN taxlaw-2807 36 60 tax tax NOUN taxlaw-2807 36 61 regime.2 regime.2 PROPN taxlaw-2807 36 62 it it PRON taxlaw-2807 36 63 has have AUX taxlaw-2807 36 64 been be AUX taxlaw-2807 36 65 called call VERB taxlaw-2807 36 66 the the DET taxlaw-2807 36 67 achilles achille NOUN taxlaw-2807 36 68 ’ ' PUNCT taxlaw-2807 36 69 heel heel NOUN taxlaw-2807 36 70 of of ADP taxlaw-2807 36 71 the the DET taxlaw-2807 36 72 income income NOUN taxlaw-2807 36 73 tax3 tax3 NOUN taxlaw-2807 36 74 and and CCONJ taxlaw-2807 36 75 is be AUX taxlaw-2807 36 76 widely widely ADV taxlaw-2807 36 77 considered consider VERB taxlaw-2807 36 78 to to PART taxlaw-2807 36 79 be be AUX taxlaw-2807 36 80 the the DET taxlaw-2807 36 81 primary primary ADJ taxlaw-2807 36 82 source source NOUN taxlaw-2807 36 83 of of ADP taxlaw-2807 36 84 distributional distributional ADJ taxlaw-2807 36 85 inequity inequity NOUN taxlaw-2807 36 86 and and CCONJ taxlaw-2807 36 87 complexity complexity NOUN taxlaw-2807 36 88 in in ADP taxlaw-2807 36 89 the the DET taxlaw-2807 36 90 tax tax NOUN taxlaw-2807 36 91 system.4 system.4 NOUN taxlaw-2807 36 92 our our PRON taxlaw-2807 36 93 main main ADJ taxlaw-2807 36 94 argument argument NOUN taxlaw-2807 36 95 is be AUX taxlaw-2807 36 96 that that SCONJ taxlaw-2807 36 97 , , PUNCT taxlaw-2807 36 98 contrary contrary ADV taxlaw-2807 36 99 to to ADP taxlaw-2807 36 100 the the DET taxlaw-2807 36 101 widely widely ADV taxlaw-2807 36 102 held hold VERB taxlaw-2807 36 103 view view NOUN taxlaw-2807 36 104 that that SCONJ taxlaw-2807 36 105 the the DET taxlaw-2807 36 106 realization realization NOUN taxlaw-2807 36 107 requirement requirement NOUN taxlaw-2807 36 108 is be AUX taxlaw-2807 36 109 merely merely ADV taxlaw-2807 36 110 an an DET taxlaw-2807 36 111 administrative administrative ADJ taxlaw-2807 36 112 rule rule NOUN taxlaw-2807 36 113 , , PUNCT taxlaw-2807 36 114 realization realization NOUN taxlaw-2807 36 115 is be AUX taxlaw-2807 36 116 actually actually ADV taxlaw-2807 36 117 normatively normatively ADV taxlaw-2807 36 118 justified justify VERB taxlaw-2807 36 119 with with ADP taxlaw-2807 36 120 respect respect NOUN taxlaw-2807 36 121 to to ADP taxlaw-2807 36 122 certain certain ADJ taxlaw-2807 36 123 assets asset NOUN taxlaw-2807 36 124 — — PUNCT taxlaw-2807 36 125 emotionally emotionally ADV taxlaw-2807 36 126 non non ADJ taxlaw-2807 36 127 - - ADJ taxlaw-2807 36 128 fungible fungible ADJ taxlaw-2807 36 129 ( ( PUNCT taxlaw-2807 36 130 personal personal ADJ taxlaw-2807 36 131 ) ) PUNCT taxlaw-2807 36 132 assets asset NOUN taxlaw-2807 36 133 . . PUNCT taxlaw-2807 37 1 personal personal ADJ taxlaw-2807 37 2 assets asset NOUN taxlaw-2807 37 3 are be AUX taxlaw-2807 37 4 those those DET taxlaw-2807 37 5 assets asset NOUN taxlaw-2807 37 6 for for ADP taxlaw-2807 37 7 which which PRON taxlaw-2807 37 8 there there PRON taxlaw-2807 37 9 is be VERB taxlaw-2807 37 10 a a DET taxlaw-2807 37 11 high high ADJ taxlaw-2807 37 12 probability probability NOUN taxlaw-2807 37 13 that that SCONJ taxlaw-2807 37 14 the the DET taxlaw-2807 37 15 subjective subjective ADJ taxlaw-2807 37 16 value value NOUN taxlaw-2807 37 17 individuals individual NOUN taxlaw-2807 37 18 attribute attribute VERB taxlaw-2807 37 19 to to ADP taxlaw-2807 37 20 them they PRON taxlaw-2807 37 21 differs differ VERB taxlaw-2807 37 22 significantly significantly ADV taxlaw-2807 37 23 from from ADP taxlaw-2807 37 24 the the DET taxlaw-2807 37 25 market market NOUN taxlaw-2807 37 26 value value NOUN taxlaw-2807 37 27 . . PUNCT taxlaw-2807 38 1 we we PRON taxlaw-2807 38 2 argue argue VERB taxlaw-2807 38 3 that that SCONJ taxlaw-2807 38 4 taxing tax VERB taxlaw-2807 38 5 these these DET taxlaw-2807 38 6 assets asset NOUN taxlaw-2807 38 7 only only ADV taxlaw-2807 38 8 upon upon SCONJ taxlaw-2807 38 9 realization realization NOUN taxlaw-2807 38 10 helps help VERB taxlaw-2807 38 11 the the DET taxlaw-2807 38 12 income income NOUN taxlaw-2807 38 13 tax tax NOUN taxlaw-2807 38 14 to to PART taxlaw-2807 38 15 better well ADV taxlaw-2807 38 16 achieve achieve VERB taxlaw-2807 38 17 its its PRON taxlaw-2807 38 18 professed professed ADJ taxlaw-2807 38 19 objective objective NOUN taxlaw-2807 38 20 of of ADP taxlaw-2807 38 21 progressivity progressivity NOUN taxlaw-2807 38 22 . . PUNCT taxlaw-2807 39 1 a a DET taxlaw-2807 39 2 preliminary preliminary ADJ taxlaw-2807 39 3 example example NOUN taxlaw-2807 39 4 demonstrates demonstrate VERB taxlaw-2807 39 5 the the DET taxlaw-2807 39 6 realization realization NOUN taxlaw-2807 39 7 requirement requirement NOUN taxlaw-2807 39 8 ’s ’s PART taxlaw-2807 39 9 normative normative ADJ taxlaw-2807 39 10 basis basis NOUN taxlaw-2807 39 11 . . PUNCT taxlaw-2807 40 1 consider consider VERB taxlaw-2807 40 2 two two NUM taxlaw-2807 40 3 family family NOUN taxlaw-2807 40 4 vacation vacation NOUN taxlaw-2807 40 5 albums album NOUN taxlaw-2807 40 6 , , PUNCT taxlaw-2807 40 7 the the DET taxlaw-2807 40 8 first first ADV taxlaw-2807 40 9 made make VERB taxlaw-2807 40 10 by by ADP taxlaw-2807 40 11 a a DET taxlaw-2807 40 12 talented talented ADJ taxlaw-2807 40 13 professional professional ADJ taxlaw-2807 40 14 photographer photographer NOUN taxlaw-2807 40 15 and and CCONJ taxlaw-2807 40 16 the the DET taxlaw-2807 40 17 second second ADJ taxlaw-2807 40 18 created create VERB taxlaw-2807 40 19 by by ADP taxlaw-2807 40 20 her her PRON taxlaw-2807 40 21 spouse spouse NOUN taxlaw-2807 40 22 , , PUNCT taxlaw-2807 40 23 a a DET taxlaw-2807 40 24 lawyer lawyer NOUN taxlaw-2807 40 25 . . PUNCT taxlaw-2807 41 1 the the DET taxlaw-2807 41 2 photographer photographer NOUN taxlaw-2807 41 3 ’s ’s PART taxlaw-2807 41 4 album album NOUN taxlaw-2807 41 5 is be AUX taxlaw-2807 41 6 filled fill VERB taxlaw-2807 41 7 with with ADP taxlaw-2807 41 8 well well ADV taxlaw-2807 41 9 - - PUNCT taxlaw-2807 41 10 composed compose VERB taxlaw-2807 41 11 landscape landscape NOUN taxlaw-2807 41 12 shots shot NOUN taxlaw-2807 41 13 and and CCONJ taxlaw-2807 41 14 insightful insightful ADJ taxlaw-2807 41 15 portraits portrait NOUN taxlaw-2807 41 16 that that PRON taxlaw-2807 41 17 many many ADJ taxlaw-2807 41 18 galleries gallery NOUN taxlaw-2807 41 19 would would AUX taxlaw-2807 41 20 love love VERB taxlaw-2807 41 21 to to PART taxlaw-2807 41 22 display display VERB taxlaw-2807 41 23 , , PUNCT taxlaw-2807 41 24 whereas whereas SCONJ taxlaw-2807 41 25 the the DET taxlaw-2807 41 26 lawyer lawyer NOUN taxlaw-2807 41 27 ’s ’s PART taxlaw-2807 41 28 is be AUX taxlaw-2807 41 29 comprised comprise VERB taxlaw-2807 41 30 mostly mostly ADV taxlaw-2807 41 31 of of ADP taxlaw-2807 41 32 poorly poorly ADV taxlaw-2807 41 33 framed frame VERB taxlaw-2807 41 34 shots shot NOUN taxlaw-2807 41 35 of of ADP taxlaw-2807 41 36 distracted distracted ADJ taxlaw-2807 41 37 children child NOUN taxlaw-2807 41 38 that that SCONJ taxlaw-2807 41 39 even even ADV taxlaw-2807 41 40 the the DET taxlaw-2807 41 41 grandparents grandparent NOUN taxlaw-2807 41 42 tire tire VERB taxlaw-2807 41 43 of of ADP taxlaw-2807 41 44 . . PUNCT taxlaw-2807 42 1 nevertheless nevertheless ADV taxlaw-2807 42 2 , , PUNCT taxlaw-2807 42 3 both both CCONJ taxlaw-2807 42 4 the the DET taxlaw-2807 42 5 photographer photographer NOUN taxlaw-2807 42 6 and and CCONJ taxlaw-2807 42 7 the the DET taxlaw-2807 42 8 lawyer lawyer NOUN taxlaw-2807 42 9 seem seem VERB taxlaw-2807 42 10 to to PART taxlaw-2807 42 11 derive derive VERB taxlaw-2807 42 12 the the DET taxlaw-2807 42 13 same same ADJ taxlaw-2807 42 14 amount amount NOUN taxlaw-2807 42 15 of of ADP taxlaw-2807 42 16 subjective subjective ADJ taxlaw-2807 42 17 value value NOUN taxlaw-2807 42 18 from from ADP taxlaw-2807 42 19 their their PRON taxlaw-2807 42 20 albums album NOUN taxlaw-2807 42 21 . . PUNCT taxlaw-2807 43 1 1 1 NUM taxlaw-2807 43 2 michael michael PROPN taxlaw-2807 43 3 j. j. PROPN taxlaw-2807 43 4 graetz graetz PROPN taxlaw-2807 43 5 & & CCONJ taxlaw-2807 43 6 deborah deborah PROPN taxlaw-2807 43 7 h. h. PROPN taxlaw-2807 43 8 schenk schenk PROPN taxlaw-2807 43 9 , , PUNCT taxlaw-2807 43 10 federal federal ADJ taxlaw-2807 43 11 income income NOUN taxlaw-2807 43 12 taxation taxation NOUN taxlaw-2807 43 13 : : PUNCT taxlaw-2807 43 14 principles principle NOUN taxlaw-2807 43 15 and and CCONJ taxlaw-2807 43 16 policies policy NOUN taxlaw-2807 43 17 154 154 NUM taxlaw-2807 43 18 ( ( PUNCT taxlaw-2807 43 19 6th 6th ADJ taxlaw-2807 43 20 ed ed NOUN taxlaw-2807 43 21 . . PROPN taxlaw-2807 43 22 2009 2009 NUM taxlaw-2807 43 23 ) ) PUNCT taxlaw-2807 43 24 ; ; PUNCT taxlaw-2807 43 25 mary mary PROPN taxlaw-2807 43 26 louise louise PROPN taxlaw-2807 43 27 fellows fellows PROPN taxlaw-2807 43 28 , , PUNCT taxlaw-2807 43 29 a a DET taxlaw-2807 43 30 comprehensive comprehensive ADJ taxlaw-2807 43 31 attack attack NOUN taxlaw-2807 43 32 on on ADP taxlaw-2807 43 33 tax tax NOUN taxlaw-2807 43 34 deferral deferral NOUN taxlaw-2807 43 35 , , PUNCT taxlaw-2807 43 36 88 88 NUM taxlaw-2807 43 37 mich mich NOUN taxlaw-2807 43 38 . . PUNCT taxlaw-2807 44 1 l. l. PROPN taxlaw-2807 44 2 rev rev PROPN taxlaw-2807 44 3 . . PROPN taxlaw-2807 44 4 722 722 NUM taxlaw-2807 44 5 , , PUNCT taxlaw-2807 44 6 723 723 NUM taxlaw-2807 44 7 - - SYM taxlaw-2807 44 8 29 29 NUM taxlaw-2807 44 9 ( ( PUNCT taxlaw-2807 44 10 1990 1990 NUM taxlaw-2807 44 11 ) ) PUNCT taxlaw-2807 44 12 ; ; PUNCT taxlaw-2807 45 1 david david PROPN taxlaw-2807 45 2 m. m. PROPN taxlaw-2807 45 3 hasen hasen PROPN taxlaw-2807 45 4 , , PUNCT taxlaw-2807 45 5 a a DET taxlaw-2807 45 6 realization realization NOUN taxlaw-2807 45 7 - - PUNCT taxlaw-2807 45 8 based base VERB taxlaw-2807 45 9 approach approach NOUN taxlaw-2807 45 10 to to ADP taxlaw-2807 45 11 the the DET taxlaw-2807 45 12 taxation taxation NOUN taxlaw-2807 45 13 of of ADP taxlaw-2807 45 14 financial financial ADJ taxlaw-2807 45 15 instruments instrument NOUN taxlaw-2807 45 16 , , PUNCT taxlaw-2807 45 17 57 57 NUM taxlaw-2807 45 18 tax tax NOUN taxlaw-2807 45 19 l. l. PROPN taxlaw-2807 45 20 rev rev PROPN taxlaw-2807 45 21 . . PROPN taxlaw-2807 45 22 397 397 NUM taxlaw-2807 45 23 , , PUNCT taxlaw-2807 45 24 400 400 NUM taxlaw-2807 45 25 ( ( PUNCT taxlaw-2807 45 26 2004 2004 NUM taxlaw-2807 45 27 ) ) PUNCT taxlaw-2807 45 28 ; ; PUNCT taxlaw-2807 45 29 david david PROPN taxlaw-2807 45 30 m. m. PROPN taxlaw-2807 45 31 schizer schizer PROPN taxlaw-2807 45 32 , , PUNCT taxlaw-2807 45 33 realization realization NOUN taxlaw-2807 45 34 as as ADP taxlaw-2807 45 35 subsidy subsidy NOUN taxlaw-2807 45 36 , , PUNCT taxlaw-2807 45 37 73 73 NUM taxlaw-2807 45 38 n.y.u n.y.u NOUN taxlaw-2807 45 39 . . PUNCT taxlaw-2807 46 1 l. l. PROPN taxlaw-2807 46 2 rev rev PROPN taxlaw-2807 46 3 . . PROPN taxlaw-2807 46 4 1549 1549 NUM taxlaw-2807 46 5 , , PUNCT taxlaw-2807 46 6 1551 1551 NUM taxlaw-2807 46 7 ( ( PUNCT taxlaw-2807 46 8 1998 1998 NUM taxlaw-2807 46 9 ) ) PUNCT taxlaw-2807 46 10 ; ; PUNCT taxlaw-2807 46 11 daniel daniel PROPN taxlaw-2807 46 12 n. n. PROPN taxlaw-2807 46 13 shaviro shaviro PROPN taxlaw-2807 46 14 , , PUNCT taxlaw-2807 46 15 an an DET taxlaw-2807 46 16 efficiency efficiency NOUN taxlaw-2807 46 17 analysis analysis NOUN taxlaw-2807 46 18 of of ADP taxlaw-2807 46 19 realization realization NOUN taxlaw-2807 46 20 and and CCONJ taxlaw-2807 46 21 recognition recognition NOUN taxlaw-2807 46 22 rules rule NOUN taxlaw-2807 46 23 under under ADP taxlaw-2807 46 24 the the DET taxlaw-2807 46 25 federal federal ADJ taxlaw-2807 46 26 income income NOUN taxlaw-2807 46 27 tax tax NOUN taxlaw-2807 46 28 , , PUNCT taxlaw-2807 46 29 48 48 NUM taxlaw-2807 46 30 tax tax NOUN taxlaw-2807 46 31 l. l. PROPN taxlaw-2807 46 32 rev rev PROPN taxlaw-2807 46 33 . . PROPN taxlaw-2807 46 34 1 1 NUM taxlaw-2807 46 35 , , PUNCT taxlaw-2807 46 36 12 12 NUM taxlaw-2807 46 37 ( ( PUNCT taxlaw-2807 46 38 1992 1992 NUM taxlaw-2807 46 39 ) ) PUNCT taxlaw-2807 46 40 ; ; PUNCT taxlaw-2807 46 41 david david PROPN taxlaw-2807 46 42 a. a. PROPN taxlaw-2807 46 43 weisbach weisbach PROPN taxlaw-2807 46 44 , , PUNCT taxlaw-2807 46 45 a a DET taxlaw-2807 46 46 partial partial ADJ taxlaw-2807 46 47 mark mark NOUN taxlaw-2807 46 48 - - PUNCT taxlaw-2807 46 49 to to ADP taxlaw-2807 46 50 - - PUNCT taxlaw-2807 46 51 market market NOUN taxlaw-2807 46 52 tax tax NOUN taxlaw-2807 46 53 system system NOUN taxlaw-2807 46 54 , , PUNCT taxlaw-2807 46 55 53 53 NUM taxlaw-2807 46 56 tax tax NOUN taxlaw-2807 46 57 l. l. PROPN taxlaw-2807 46 58 rev rev PROPN taxlaw-2807 46 59 . . PROPN taxlaw-2807 46 60 95 95 NUM taxlaw-2807 46 61 , , PUNCT taxlaw-2807 46 62 95 95 NUM taxlaw-2807 46 63 ( ( PUNCT taxlaw-2807 46 64 1999 1999 NUM taxlaw-2807 46 65 ) ) PUNCT taxlaw-2807 46 66 . . PUNCT taxlaw-2807 47 1 2 2 NUM taxlaw-2807 47 2 schizer schizer NOUN taxlaw-2807 47 3 , , PUNCT taxlaw-2807 47 4 supra supra PROPN taxlaw-2807 47 5 note note NOUN taxlaw-2807 47 6 1 1 NUM taxlaw-2807 47 7 , , PUNCT taxlaw-2807 47 8 at at ADP taxlaw-2807 47 9 1551 1551 NUM taxlaw-2807 47 10 . . PUNCT taxlaw-2807 48 1 3 3 NUM taxlaw-2807 48 2 see see VERB taxlaw-2807 48 3 william william PROPN taxlaw-2807 48 4 d. d. PROPN taxlaw-2807 48 5 andrews andrews PROPN taxlaw-2807 48 6 , , PUNCT taxlaw-2807 48 7 the the DET taxlaw-2807 48 8 achilles achille NOUN taxlaw-2807 48 9 ’ ' PUNCT taxlaw-2807 48 10 heel heel NOUN taxlaw-2807 48 11 of of ADP taxlaw-2807 48 12 the the DET taxlaw-2807 48 13 comprehensive comprehensive ADJ taxlaw-2807 48 14 income income NOUN taxlaw-2807 48 15 tax tax NOUN taxlaw-2807 48 16 , , PUNCT taxlaw-2807 48 17 in in ADP taxlaw-2807 48 18 new new ADJ taxlaw-2807 48 19 directions direction NOUN taxlaw-2807 48 20 in in ADP taxlaw-2807 48 21 federal federal ADJ taxlaw-2807 48 22 tax tax NOUN taxlaw-2807 48 23 policy policy NOUN taxlaw-2807 48 24 for for ADP taxlaw-2807 48 25 the the DET taxlaw-2807 48 26 1980s 1980 NOUN taxlaw-2807 48 27 , , PUNCT taxlaw-2807 48 28 at at ADP taxlaw-2807 48 29 278 278 NUM taxlaw-2807 48 30 , , PUNCT taxlaw-2807 48 31 280 280 NUM taxlaw-2807 48 32 ( ( PUNCT taxlaw-2807 48 33 charles charles PROPN taxlaw-2807 48 34 e. e. PROPN taxlaw-2807 48 35 walker walker PROPN taxlaw-2807 48 36 & & CCONJ taxlaw-2807 48 37 mark mark PROPN taxlaw-2807 48 38 a. a. PROPN taxlaw-2807 48 39 bloomfield bloomfield PROPN taxlaw-2807 48 40 eds eds PROPN taxlaw-2807 48 41 . . PROPN taxlaw-2807 48 42 , , PUNCT taxlaw-2807 48 43 1983 1983 NUM taxlaw-2807 48 44 ) ) PUNCT taxlaw-2807 48 45 ( ( PUNCT taxlaw-2807 48 46 calling call VERB taxlaw-2807 48 47 the the DET taxlaw-2807 48 48 realization realization NOUN taxlaw-2807 48 49 requirement requirement NOUN taxlaw-2807 48 50 the the DET taxlaw-2807 48 51 achilles achille NOUN taxlaw-2807 48 52 ’ ' PUNCT taxlaw-2807 48 53 heel heel NOUN taxlaw-2807 48 54 of of ADP taxlaw-2807 48 55 income income NOUN taxlaw-2807 48 56 taxation taxation NOUN taxlaw-2807 48 57 ) ) PUNCT taxlaw-2807 48 58 . . PUNCT taxlaw-2807 49 1 4 4 NUM taxlaw-2807 49 2 see see VERB taxlaw-2807 49 3 infra infra NOUN taxlaw-2807 49 4 part part NOUN taxlaw-2807 49 5 i.a i.a PROPN taxlaw-2807 49 6 . . PROPN taxlaw-2807 49 7 46 46 NUM taxlaw-2807 49 8 columbia columbia PROPN taxlaw-2807 49 9 journal journal PROPN taxlaw-2807 49 10 of of ADP taxlaw-2807 49 11 tax tax NOUN taxlaw-2807 49 12 law law NOUN taxlaw-2807 49 13 [ [ X taxlaw-2807 49 14 vol.3:43 vol.3:43 PROPN taxlaw-2807 49 15 it it PRON taxlaw-2807 49 16 seems seem VERB taxlaw-2807 49 17 intuitively intuitively ADV taxlaw-2807 49 18 wrong wrong ADJ taxlaw-2807 49 19 to to PART taxlaw-2807 49 20 increase increase VERB taxlaw-2807 49 21 the the DET taxlaw-2807 49 22 tax tax NOUN taxlaw-2807 49 23 liability liability NOUN taxlaw-2807 49 24 of of ADP taxlaw-2807 49 25 the the DET taxlaw-2807 49 26 photographer photographer NOUN taxlaw-2807 49 27 only only ADV taxlaw-2807 49 28 because because SCONJ taxlaw-2807 49 29 her her PRON taxlaw-2807 49 30 album album NOUN taxlaw-2807 49 31 has have VERB taxlaw-2807 49 32 considerable considerable ADJ taxlaw-2807 49 33 market market NOUN taxlaw-2807 49 34 value value NOUN taxlaw-2807 49 35 . . PUNCT taxlaw-2807 50 1 that that PRON taxlaw-2807 50 2 is be AUX taxlaw-2807 50 3 , , PUNCT taxlaw-2807 50 4 as as ADV taxlaw-2807 50 5 long long ADV taxlaw-2807 50 6 as as SCONJ taxlaw-2807 50 7 both both DET taxlaw-2807 50 8 albums album NOUN taxlaw-2807 50 9 are be AUX taxlaw-2807 50 10 sitting sit VERB taxlaw-2807 50 11 on on ADP taxlaw-2807 50 12 coffee coffee NOUN taxlaw-2807 50 13 tables table NOUN taxlaw-2807 50 14 in in ADP taxlaw-2807 50 15 the the DET taxlaw-2807 50 16 family family NOUN taxlaw-2807 50 17 ’s ’s PART taxlaw-2807 50 18 living live VERB taxlaw-2807 50 19 rooms room NOUN taxlaw-2807 50 20 , , PUNCT taxlaw-2807 50 21 it it PRON taxlaw-2807 50 22 seems seem VERB taxlaw-2807 50 23 unreasonable unreasonable ADJ taxlaw-2807 50 24 to to PART taxlaw-2807 50 25 increase increase VERB taxlaw-2807 50 26 the the DET taxlaw-2807 50 27 photographer photographer NOUN taxlaw-2807 50 28 ’s ’s PART taxlaw-2807 50 29 tax tax NOUN taxlaw-2807 50 30 liability liability NOUN taxlaw-2807 50 31 for for ADP taxlaw-2807 50 32 the the DET taxlaw-2807 50 33 year year NOUN taxlaw-2807 50 34 simply simply ADV taxlaw-2807 50 35 because because SCONJ taxlaw-2807 50 36 her her PRON taxlaw-2807 50 37 personal personal ADJ taxlaw-2807 50 38 album album NOUN taxlaw-2807 50 39 could could AUX taxlaw-2807 50 40 fetch fetch VERB taxlaw-2807 50 41 thousands thousand NOUN taxlaw-2807 50 42 of of ADP taxlaw-2807 50 43 dollars dollar NOUN taxlaw-2807 50 44 , , PUNCT taxlaw-2807 50 45 especially especially ADV taxlaw-2807 50 46 if if SCONJ taxlaw-2807 50 47 she she PRON taxlaw-2807 50 48 has have VERB taxlaw-2807 50 49 no no DET taxlaw-2807 50 50 interest interest NOUN taxlaw-2807 50 51 in in ADP taxlaw-2807 50 52 selling sell VERB taxlaw-2807 50 53 it it PRON taxlaw-2807 50 54 . . PUNCT taxlaw-2807 51 1 however however ADV taxlaw-2807 51 2 , , PUNCT taxlaw-2807 51 3 under under ADP taxlaw-2807 51 4 what what PRON taxlaw-2807 51 5 is be AUX taxlaw-2807 51 6 often often ADV taxlaw-2807 51 7 described describe VERB taxlaw-2807 51 8 as as ADP taxlaw-2807 51 9 an an DET taxlaw-2807 51 10 ideal ideal ADJ taxlaw-2807 51 11 income income NOUN taxlaw-2807 51 12 tax tax NOUN taxlaw-2807 51 13 , , PUNCT taxlaw-2807 51 14 the the DET taxlaw-2807 51 15 photographer photographer NOUN taxlaw-2807 51 16 would would AUX taxlaw-2807 51 17 pay pay VERB taxlaw-2807 51 18 taxes taxis NOUN taxlaw-2807 51 19 in in ADP taxlaw-2807 51 20 the the DET taxlaw-2807 51 21 year year NOUN taxlaw-2807 51 22 she she PRON taxlaw-2807 51 23 compiled compile VERB taxlaw-2807 51 24 the the DET taxlaw-2807 51 25 album album NOUN taxlaw-2807 51 26 , , PUNCT taxlaw-2807 51 27 because because SCONJ taxlaw-2807 51 28 the the DET taxlaw-2807 51 29 album album NOUN taxlaw-2807 51 30 has have VERB taxlaw-2807 51 31 the the DET taxlaw-2807 51 32 effect effect NOUN taxlaw-2807 51 33 of of ADP taxlaw-2807 51 34 increasing increase VERB taxlaw-2807 51 35 her her PRON taxlaw-2807 51 36 net net ADJ taxlaw-2807 51 37 worth worth NOUN taxlaw-2807 51 38 . . PUNCT taxlaw-2807 52 1 but but CCONJ taxlaw-2807 52 2 taxing tax VERB taxlaw-2807 52 3 her she PRON taxlaw-2807 52 4 for for ADP taxlaw-2807 52 5 the the DET taxlaw-2807 52 6 value value NOUN taxlaw-2807 52 7 of of ADP taxlaw-2807 52 8 the the DET taxlaw-2807 52 9 album album NOUN taxlaw-2807 52 10 ’s ’s PART taxlaw-2807 52 11 photos photo NOUN taxlaw-2807 52 12 becomes become VERB taxlaw-2807 52 13 completely completely ADV taxlaw-2807 52 14 reasonable reasonable ADJ taxlaw-2807 52 15 if if SCONJ taxlaw-2807 52 16 she she PRON taxlaw-2807 52 17 sells sell VERB taxlaw-2807 52 18 the the DET taxlaw-2807 52 19 exclusive exclusive ADJ taxlaw-2807 52 20 rights right NOUN taxlaw-2807 52 21 to to ADP taxlaw-2807 52 22 the the DET taxlaw-2807 52 23 photos photo NOUN taxlaw-2807 52 24 , , PUNCT taxlaw-2807 52 25 in in ADP taxlaw-2807 52 26 which which DET taxlaw-2807 52 27 case case NOUN taxlaw-2807 52 28 it it PRON taxlaw-2807 52 29 would would AUX taxlaw-2807 52 30 be be AUX taxlaw-2807 52 31 difficult difficult ADJ taxlaw-2807 52 32 to to PART taxlaw-2807 52 33 distinguish distinguish VERB taxlaw-2807 52 34 it it PRON taxlaw-2807 52 35 from from ADP taxlaw-2807 52 36 any any DET taxlaw-2807 52 37 other other ADJ taxlaw-2807 52 38 work work NOUN taxlaw-2807 52 39 she she PRON taxlaw-2807 52 40 sells.5 sells.5 VERB taxlaw-2807 52 41 with with ADP taxlaw-2807 52 42 respect respect NOUN taxlaw-2807 52 43 to to ADP taxlaw-2807 52 44 the the DET taxlaw-2807 52 45 album album NOUN taxlaw-2807 52 46 , , PUNCT taxlaw-2807 52 47 realization realization NOUN taxlaw-2807 52 48 does do AUX taxlaw-2807 52 49 not not PART taxlaw-2807 52 50 increase increase VERB taxlaw-2807 52 51 or or CCONJ taxlaw-2807 52 52 diminish diminish VERB taxlaw-2807 52 53 the the DET taxlaw-2807 52 54 value value NOUN taxlaw-2807 52 55 or or CCONJ taxlaw-2807 52 56 the the DET taxlaw-2807 52 57 nature nature NOUN taxlaw-2807 52 58 of of ADP taxlaw-2807 52 59 the the DET taxlaw-2807 52 60 photos photo NOUN taxlaw-2807 52 61 — — PUNCT taxlaw-2807 52 62 at at ADP taxlaw-2807 52 63 least least ADJ taxlaw-2807 52 64 to to ADP taxlaw-2807 52 65 the the DET taxlaw-2807 52 66 photographer photographer NOUN taxlaw-2807 52 67 . . PUNCT taxlaw-2807 53 1 it it PRON taxlaw-2807 53 2 only only ADV taxlaw-2807 53 3 changes change VERB taxlaw-2807 53 4 the the DET taxlaw-2807 53 5 type type NOUN taxlaw-2807 53 6 of of ADP taxlaw-2807 53 7 the the DET taxlaw-2807 53 8 asset asset NOUN taxlaw-2807 53 9 from from ADP taxlaw-2807 53 10 a a DET taxlaw-2807 53 11 personal personal NOUN taxlaw-2807 53 12 to to ADP taxlaw-2807 53 13 a a DET taxlaw-2807 53 14 commercial commercial ADJ taxlaw-2807 53 15 one one NUM taxlaw-2807 53 16 . . PUNCT taxlaw-2807 54 1 this this DET taxlaw-2807 54 2 change change NOUN taxlaw-2807 54 3 signals signal VERB taxlaw-2807 54 4 that that SCONJ taxlaw-2807 54 5 the the DET taxlaw-2807 54 6 asset asset NOUN taxlaw-2807 54 7 ’s ’s PART taxlaw-2807 54 8 value value NOUN taxlaw-2807 54 9 to to ADP taxlaw-2807 54 10 the the DET taxlaw-2807 54 11 taxpayer taxpayer NOUN taxlaw-2807 54 12 is be AUX taxlaw-2807 54 13 not not PART taxlaw-2807 54 14 different different ADJ taxlaw-2807 54 15 from from ADP taxlaw-2807 54 16 its its PRON taxlaw-2807 54 17 market market NOUN taxlaw-2807 54 18 value value NOUN taxlaw-2807 54 19 . . PUNCT taxlaw-2807 55 1 we we PRON taxlaw-2807 55 2 expand expand VERB taxlaw-2807 55 3 the the DET taxlaw-2807 55 4 example example NOUN taxlaw-2807 55 5 slightly slightly ADV taxlaw-2807 55 6 to to PART taxlaw-2807 55 7 demonstrate demonstrate VERB taxlaw-2807 55 8 why why SCONJ taxlaw-2807 55 9 the the DET taxlaw-2807 55 10 realization realization NOUN taxlaw-2807 55 11 requirement requirement NOUN taxlaw-2807 55 12 can can AUX taxlaw-2807 55 13 not not PART taxlaw-2807 55 14 be be AUX taxlaw-2807 55 15 normatively normatively ADV taxlaw-2807 55 16 justified justify VERB taxlaw-2807 55 17 with with ADP taxlaw-2807 55 18 respect respect NOUN taxlaw-2807 55 19 to to ADP taxlaw-2807 55 20 all all DET taxlaw-2807 55 21 assets asset NOUN taxlaw-2807 55 22 . . PUNCT taxlaw-2807 56 1 imagine imagine VERB taxlaw-2807 56 2 that that SCONJ taxlaw-2807 56 3 the the DET taxlaw-2807 56 4 photographer photographer NOUN taxlaw-2807 56 5 and and CCONJ taxlaw-2807 56 6 the the DET taxlaw-2807 56 7 professor professor NOUN taxlaw-2807 56 8 each each PRON taxlaw-2807 56 9 hold hold VERB taxlaw-2807 56 10 a a DET taxlaw-2807 56 11 hundred hundred NUM taxlaw-2807 56 12 shares share NOUN taxlaw-2807 56 13 of of ADP taxlaw-2807 56 14 apple apple NOUN taxlaw-2807 56 15 stock stock NOUN taxlaw-2807 56 16 and and CCONJ taxlaw-2807 56 17 that that SCONJ taxlaw-2807 56 18 the the DET taxlaw-2807 56 19 stock stock NOUN taxlaw-2807 56 20 has have AUX taxlaw-2807 56 21 increased increase VERB taxlaw-2807 56 22 significantly significantly ADV taxlaw-2807 56 23 in in ADP taxlaw-2807 56 24 value value NOUN taxlaw-2807 56 25 over over ADP taxlaw-2807 56 26 the the DET taxlaw-2807 56 27 past past ADJ taxlaw-2807 56 28 year year NOUN taxlaw-2807 56 29 . . PUNCT taxlaw-2807 57 1 the the DET taxlaw-2807 57 2 fundamental fundamental ADJ taxlaw-2807 57 3 ( ( PUNCT taxlaw-2807 57 4 and and CCONJ taxlaw-2807 57 5 intuitive intuitive ADJ taxlaw-2807 57 6 ) ) PUNCT taxlaw-2807 57 7 difference difference NOUN taxlaw-2807 57 8 between between ADP taxlaw-2807 57 9 the the DET taxlaw-2807 57 10 owners owner NOUN taxlaw-2807 57 11 ’ ’ PART taxlaw-2807 57 12 perceptions perception NOUN taxlaw-2807 57 13 of of ADP taxlaw-2807 57 14 their their PRON taxlaw-2807 57 15 photo photo NOUN taxlaw-2807 57 16 albums album NOUN taxlaw-2807 57 17 ( ( PUNCT taxlaw-2807 57 18 personal personal ADJ taxlaw-2807 57 19 assets asset NOUN taxlaw-2807 57 20 that that PRON taxlaw-2807 57 21 will will AUX taxlaw-2807 57 22 likely likely ADV taxlaw-2807 57 23 never never ADV taxlaw-2807 57 24 be be AUX taxlaw-2807 57 25 sold sell VERB taxlaw-2807 57 26 ) ) PUNCT taxlaw-2807 57 27 and and CCONJ taxlaw-2807 57 28 their their PRON taxlaw-2807 57 29 stocks stock NOUN taxlaw-2807 57 30 ( ( PUNCT taxlaw-2807 57 31 investment investment NOUN taxlaw-2807 57 32 assets asset NOUN taxlaw-2807 57 33 that that PRON taxlaw-2807 57 34 they they PRON taxlaw-2807 57 35 hold hold VERB taxlaw-2807 57 36 solely solely ADV taxlaw-2807 57 37 for for ADP taxlaw-2807 57 38 financial financial ADJ taxlaw-2807 57 39 reasons reason NOUN taxlaw-2807 57 40 ) ) PUNCT taxlaw-2807 57 41 suggests suggest VERB taxlaw-2807 57 42 that that SCONJ taxlaw-2807 57 43 it it PRON taxlaw-2807 57 44 would would AUX taxlaw-2807 57 45 not not PART taxlaw-2807 57 46 be be AUX taxlaw-2807 57 47 wrong wrong ADJ taxlaw-2807 57 48 to to PART taxlaw-2807 57 49 tax tax VERB taxlaw-2807 57 50 them they PRON taxlaw-2807 57 51 for for ADP taxlaw-2807 57 52 any any DET taxlaw-2807 57 53 wealth wealth NOUN taxlaw-2807 57 54 increase increase NOUN taxlaw-2807 57 55 associated associate VERB taxlaw-2807 57 56 with with ADP taxlaw-2807 57 57 the the DET taxlaw-2807 57 58 stock stock NOUN taxlaw-2807 57 59 , , PUNCT taxlaw-2807 57 60 even even ADV taxlaw-2807 57 61 if if SCONJ taxlaw-2807 57 62 they they PRON taxlaw-2807 57 63 chose choose VERB taxlaw-2807 57 64 not not PART taxlaw-2807 57 65 to to PART taxlaw-2807 57 66 sell sell VERB taxlaw-2807 57 67 this this DET taxlaw-2807 57 68 year year NOUN taxlaw-2807 57 69 . . PUNCT taxlaw-2807 58 1 currently currently ADV taxlaw-2807 58 2 , , PUNCT taxlaw-2807 58 3 the the DET taxlaw-2807 58 4 realization realization NOUN taxlaw-2807 58 5 requirement requirement NOUN taxlaw-2807 58 6 shields shield NOUN taxlaw-2807 58 7 both both DET taxlaw-2807 58 8 types type NOUN taxlaw-2807 58 9 of of ADP taxlaw-2807 58 10 wealth wealth NOUN taxlaw-2807 58 11 accumulation accumulation NOUN taxlaw-2807 58 12 from from ADP taxlaw-2807 58 13 taxation taxation NOUN taxlaw-2807 58 14 until until SCONJ taxlaw-2807 58 15 the the DET taxlaw-2807 58 16 asset asset NOUN taxlaw-2807 58 17 is be AUX taxlaw-2807 58 18 sold sell VERB taxlaw-2807 58 19 , , PUNCT taxlaw-2807 58 20 but but CCONJ taxlaw-2807 58 21 we we PRON taxlaw-2807 58 22 argue argue VERB taxlaw-2807 58 23 that that SCONJ taxlaw-2807 58 24 this this DET taxlaw-2807 58 25 delay delay NOUN taxlaw-2807 58 26 is be AUX taxlaw-2807 58 27 only only ADV taxlaw-2807 58 28 justifiable justifiable ADJ taxlaw-2807 58 29 with with ADP taxlaw-2807 58 30 respect respect NOUN taxlaw-2807 58 31 to to ADP taxlaw-2807 58 32 the the DET taxlaw-2807 58 33 category category NOUN taxlaw-2807 58 34 of of ADP taxlaw-2807 58 35 personal personal ADJ taxlaw-2807 58 36 assets asset NOUN taxlaw-2807 58 37 , , PUNCT taxlaw-2807 58 38 such such ADJ taxlaw-2807 58 39 as as ADP taxlaw-2807 58 40 the the DET taxlaw-2807 58 41 photo photo NOUN taxlaw-2807 58 42 album album NOUN taxlaw-2807 58 43 . . PUNCT taxlaw-2807 59 1 recognizing recognize VERB taxlaw-2807 59 2 this this DET taxlaw-2807 59 3 overlooked overlook VERB taxlaw-2807 59 4 function function NOUN taxlaw-2807 59 5 of of ADP taxlaw-2807 59 6 the the DET taxlaw-2807 59 7 realization realization NOUN taxlaw-2807 59 8 requirement requirement NOUN taxlaw-2807 59 9 — — PUNCT taxlaw-2807 59 10 allowing allow VERB taxlaw-2807 59 11 taxpayers taxpayer NOUN taxlaw-2807 59 12 to to PART taxlaw-2807 59 13 defer defer VERB taxlaw-2807 59 14 taxes taxis NOUN taxlaw-2807 59 15 on on ADP taxlaw-2807 59 16 unique unique ADJ taxlaw-2807 59 17 personal personal ADJ taxlaw-2807 59 18 assets asset NOUN taxlaw-2807 59 19 — — PUNCT taxlaw-2807 59 20 provides provide VERB taxlaw-2807 59 21 policymakers policymaker NOUN taxlaw-2807 59 22 with with ADP taxlaw-2807 59 23 a a DET taxlaw-2807 59 24 valuable valuable ADJ taxlaw-2807 59 25 point point NOUN taxlaw-2807 59 26 of of ADP taxlaw-2807 59 27 departure departure NOUN taxlaw-2807 59 28 when when SCONJ taxlaw-2807 59 29 deciding decide VERB taxlaw-2807 59 30 which which PRON taxlaw-2807 59 31 assets asset NOUN taxlaw-2807 59 32 should should AUX taxlaw-2807 59 33 be be AUX taxlaw-2807 59 34 subject subject ADJ taxlaw-2807 59 35 to to ADP taxlaw-2807 59 36 realization realization NOUN taxlaw-2807 59 37 and and CCONJ taxlaw-2807 59 38 which which PRON taxlaw-2807 59 39 should should AUX taxlaw-2807 59 40 not not PART taxlaw-2807 59 41 . . PUNCT taxlaw-2807 60 1 articulating articulate VERB taxlaw-2807 60 2 a a DET taxlaw-2807 60 3 normative normative ADJ taxlaw-2807 60 4 basis basis NOUN taxlaw-2807 60 5 for for ADP taxlaw-2807 60 6 the the DET taxlaw-2807 60 7 requirement requirement NOUN taxlaw-2807 60 8 is be AUX taxlaw-2807 60 9 certainly certainly ADV taxlaw-2807 60 10 timely timely ADJ taxlaw-2807 60 11 , , PUNCT taxlaw-2807 60 12 as as SCONJ taxlaw-2807 60 13 recent recent ADJ taxlaw-2807 60 14 policy policy NOUN taxlaw-2807 60 15 proposals proposal NOUN taxlaw-2807 60 16 claim claim VERB taxlaw-2807 60 17 the the DET taxlaw-2807 60 18 problems problem NOUN taxlaw-2807 60 19 of of ADP taxlaw-2807 60 20 realization realization NOUN taxlaw-2807 60 21 prevent prevent VERB taxlaw-2807 60 22 the the DET taxlaw-2807 60 23 income income NOUN taxlaw-2807 60 24 tax tax NOUN taxlaw-2807 60 25 from from ADP taxlaw-2807 60 26 meeting meet VERB taxlaw-2807 60 27 its its PRON taxlaw-2807 60 28 distributive distributive ADJ taxlaw-2807 60 29 and and CCONJ taxlaw-2807 60 30 efficiency efficiency NOUN taxlaw-2807 60 31 goals goal NOUN taxlaw-2807 60 32 , , PUNCT taxlaw-2807 60 33 arguing argue VERB taxlaw-2807 60 34 that that SCONJ taxlaw-2807 60 35 policymakers policymaker NOUN taxlaw-2807 60 36 should should AUX taxlaw-2807 60 37 abandon abandon VERB taxlaw-2807 60 38 the the DET taxlaw-2807 60 39 income income NOUN taxlaw-2807 60 40 tax tax NOUN taxlaw-2807 60 41 altogether altogether ADV taxlaw-2807 60 42 and and CCONJ taxlaw-2807 60 43 shift shift VERB taxlaw-2807 60 44 to to ADP taxlaw-2807 60 45 a a DET taxlaw-2807 60 46 ( ( PUNCT taxlaw-2807 60 47 less less ADJ taxlaw-2807 60 48 progressive)6 progressive)6 ADJ taxlaw-2807 60 49 consumption consumption NOUN taxlaw-2807 60 50 tax tax NOUN taxlaw-2807 60 51 system.7 system.7 NOUN taxlaw-2807 60 52 scholars scholar NOUN taxlaw-2807 60 53 have have AUX taxlaw-2807 60 54 debated debate VERB taxlaw-2807 60 55 the the DET taxlaw-2807 60 56 merits merit NOUN taxlaw-2807 60 57 of of ADP taxlaw-2807 60 58 realization realization NOUN taxlaw-2807 60 59 for for ADP taxlaw-2807 60 60 some some DET taxlaw-2807 60 61 time time NOUN taxlaw-2807 60 62 but but CCONJ taxlaw-2807 60 63 mostly mostly ADV taxlaw-2807 60 64 from from ADP taxlaw-2807 60 65 the the DET taxlaw-2807 60 66 standpoint standpoint NOUN taxlaw-2807 60 67 of of ADP taxlaw-2807 60 68 assessing assess VERB taxlaw-2807 60 69 the the DET taxlaw-2807 60 70 practicalities practicality NOUN taxlaw-2807 60 71 of of ADP taxlaw-2807 60 72 moving move VERB taxlaw-2807 60 73 away away ADV taxlaw-2807 60 74 from from ADP taxlaw-2807 60 75 it it PRON taxlaw-2807 60 76 . . PUNCT taxlaw-2807 61 1 some some PRON taxlaw-2807 61 2 , , PUNCT taxlaw-2807 61 3 such such ADJ taxlaw-2807 61 4 as as ADP taxlaw-2807 61 5 daniel daniel PROPN taxlaw-2807 61 6 shaviro shaviro PROPN taxlaw-2807 61 7 and and CCONJ taxlaw-2807 61 8 edward edward PROPN taxlaw-2807 61 9 zelinsky zelinsky PROPN taxlaw-2807 61 10 , , PUNCT taxlaw-2807 61 11 view view VERB taxlaw-2807 61 12 realization realization NOUN taxlaw-2807 61 13 as as ADP taxlaw-2807 61 14 a a DET taxlaw-2807 61 15 necessary necessary ADJ taxlaw-2807 61 16 and and CCONJ taxlaw-2807 61 17 manageable manageable ADJ taxlaw-2807 61 18 weakness.8 weakness.8 PROPN taxlaw-2807 61 19 others other NOUN taxlaw-2807 61 20 , , PUNCT taxlaw-2807 61 21 such such ADJ taxlaw-2807 61 22 as as ADP taxlaw-2807 61 23 noel noel PROPN taxlaw-2807 61 24 cunningham cunningham PROPN taxlaw-2807 61 25 , , PUNCT taxlaw-2807 61 26 deborah deborah PROPN taxlaw-2807 61 27 schenck schenck PROPN taxlaw-2807 61 28 , , PUNCT taxlaw-2807 61 29 daniel daniel PROPN taxlaw-2807 61 30 halperin halperin PROPN taxlaw-2807 61 31 , , PUNCT taxlaw-2807 61 32 5 5 NUM taxlaw-2807 61 33 see see VERB taxlaw-2807 61 34 infra infra NOUN taxlaw-2807 61 35 part part NOUN taxlaw-2807 61 36 iii.b iii.b X taxlaw-2807 61 37 ( ( PUNCT taxlaw-2807 61 38 arguing argue VERB taxlaw-2807 61 39 that that SCONJ taxlaw-2807 61 40 her her PRON taxlaw-2807 61 41 acceptance acceptance NOUN taxlaw-2807 61 42 of of ADP taxlaw-2807 61 43 the the DET taxlaw-2807 61 44 market market NOUN taxlaw-2807 61 45 value value NOUN taxlaw-2807 61 46 would would AUX taxlaw-2807 61 47 be be AUX taxlaw-2807 61 48 a a DET taxlaw-2807 61 49 signal signal NOUN taxlaw-2807 61 50 that that SCONJ taxlaw-2807 61 51 the the DET taxlaw-2807 61 52 market market NOUN taxlaw-2807 61 53 price price NOUN taxlaw-2807 61 54 is be AUX taxlaw-2807 61 55 a a DET taxlaw-2807 61 56 good good ADJ taxlaw-2807 61 57 indicator indicator NOUN taxlaw-2807 61 58 for for ADP taxlaw-2807 61 59 measuring measure VERB taxlaw-2807 61 60 her her PRON taxlaw-2807 61 61 economic economic ADJ taxlaw-2807 61 62 well well NOUN taxlaw-2807 61 63 - - PUNCT taxlaw-2807 61 64 being being NOUN taxlaw-2807 61 65 ) ) PUNCT taxlaw-2807 61 66 . . PUNCT taxlaw-2807 62 1 6 6 NUM taxlaw-2807 62 2 chris chris PROPN taxlaw-2807 62 3 w. w. PROPN taxlaw-2807 62 4 sanchirico sanchirico PROPN taxlaw-2807 62 5 , , PUNCT taxlaw-2807 62 6 a a DET taxlaw-2807 62 7 critical critical ADJ taxlaw-2807 62 8 look look NOUN taxlaw-2807 62 9 at at ADP taxlaw-2807 62 10 the the DET taxlaw-2807 62 11 economic economic ADJ taxlaw-2807 62 12 argument argument NOUN taxlaw-2807 62 13 for for ADP taxlaw-2807 62 14 taxing tax VERB taxlaw-2807 62 15 only only ADJ taxlaw-2807 62 16 labor labor NOUN taxlaw-2807 62 17 income income NOUN taxlaw-2807 62 18 , , PUNCT taxlaw-2807 62 19 63 63 NUM taxlaw-2807 62 20 tax tax NOUN taxlaw-2807 62 21 l. l. PROPN taxlaw-2807 62 22 rev rev PROPN taxlaw-2807 62 23 . . PROPN taxlaw-2807 62 24 867 867 NUM taxlaw-2807 62 25 ( ( PUNCT taxlaw-2807 62 26 2010 2010 NUM taxlaw-2807 62 27 ) ) PUNCT taxlaw-2807 62 28 . . PUNCT taxlaw-2807 63 1 however however ADV taxlaw-2807 63 2 , , PUNCT taxlaw-2807 63 3 some some DET taxlaw-2807 63 4 scholars scholar NOUN taxlaw-2807 63 5 claim claim VERB taxlaw-2807 63 6 that that SCONJ taxlaw-2807 63 7 the the DET taxlaw-2807 63 8 inherent inherent ADJ taxlaw-2807 63 9 regressivity regressivity NOUN taxlaw-2807 63 10 of of ADP taxlaw-2807 63 11 the the DET taxlaw-2807 63 12 consumption consumption NOUN taxlaw-2807 63 13 tax tax NOUN taxlaw-2807 63 14 base base NOUN taxlaw-2807 63 15 could could AUX taxlaw-2807 63 16 be be AUX taxlaw-2807 63 17 balanced balance VERB taxlaw-2807 63 18 , , PUNCT taxlaw-2807 63 19 and and CCONJ taxlaw-2807 63 20 perhaps perhaps ADV taxlaw-2807 63 21 even even ADV taxlaw-2807 63 22 reversed reverse VERB taxlaw-2807 63 23 , , PUNCT taxlaw-2807 63 24 by by ADP taxlaw-2807 63 25 a a DET taxlaw-2807 63 26 much much ADV taxlaw-2807 63 27 more more ADV taxlaw-2807 63 28 progressive progressive ADJ taxlaw-2807 63 29 rate rate NOUN taxlaw-2807 63 30 structure structure NOUN taxlaw-2807 63 31 . . PUNCT taxlaw-2807 64 1 see see VERB taxlaw-2807 64 2 edward edward PROPN taxlaw-2807 64 3 j. j. PROPN taxlaw-2807 64 4 mccaffery mccaffery PROPN taxlaw-2807 64 5 & & CCONJ taxlaw-2807 64 6 james james PROPN taxlaw-2807 64 7 r. r. PROPN taxlaw-2807 64 8 hines hines PROPN taxlaw-2807 64 9 , , PUNCT taxlaw-2807 64 10 the the DET taxlaw-2807 64 11 last last ADJ taxlaw-2807 64 12 best good ADJ taxlaw-2807 64 13 hope hope NOUN taxlaw-2807 64 14 for for ADP taxlaw-2807 64 15 progressivity progressivity NOUN taxlaw-2807 64 16 in in ADP taxlaw-2807 64 17 tax tax NOUN taxlaw-2807 64 18 , , PUNCT taxlaw-2807 64 19 83 83 NUM taxlaw-2807 64 20 s. s. PROPN taxlaw-2807 64 21 cal cal PROPN taxlaw-2807 64 22 . . PUNCT taxlaw-2807 65 1 l. l. PROPN taxlaw-2807 65 2 rev rev PROPN taxlaw-2807 65 3 . . PROPN taxlaw-2807 65 4 1031 1031 NUM taxlaw-2807 65 5 ( ( PUNCT taxlaw-2807 65 6 2010 2010 NUM taxlaw-2807 65 7 ) ) PUNCT taxlaw-2807 65 8 . . PUNCT taxlaw-2807 66 1 7 7 NUM taxlaw-2807 66 2 see see VERB taxlaw-2807 66 3 joseph joseph PROPN taxlaw-2807 66 4 bankman bankman PROPN taxlaw-2807 66 5 & & CCONJ taxlaw-2807 66 6 david david PROPN taxlaw-2807 66 7 weisbach weisbach PROPN taxlaw-2807 66 8 , , PUNCT taxlaw-2807 66 9 consumption consumption NOUN taxlaw-2807 66 10 taxation taxation NOUN taxlaw-2807 66 11 is be AUX taxlaw-2807 66 12 still still ADV taxlaw-2807 66 13 superior superior ADJ taxlaw-2807 66 14 to to AUX taxlaw-2807 66 15 income income NOUN taxlaw-2807 66 16 taxation taxation NOUN taxlaw-2807 66 17 , , PUNCT taxlaw-2807 66 18 60 60 NUM taxlaw-2807 66 19 stan stan PROPN taxlaw-2807 66 20 . . PUNCT taxlaw-2807 67 1 l. l. PROPN taxlaw-2807 67 2 rev rev PROPN taxlaw-2807 67 3 . . PROPN taxlaw-2807 67 4 789 789 NUM taxlaw-2807 67 5 , , PUNCT taxlaw-2807 67 6 789–91 789–91 NOUN taxlaw-2807 67 7 ( ( PUNCT taxlaw-2807 67 8 2007 2007 NUM taxlaw-2807 67 9 ) ) PUNCT taxlaw-2807 67 10 ; ; PUNCT taxlaw-2807 67 11 daniel daniel PROPN taxlaw-2807 67 12 n. n. PROPN taxlaw-2807 67 13 shaviro shaviro PROPN taxlaw-2807 67 14 , , PUNCT taxlaw-2807 67 15 replacing replace VERB taxlaw-2807 67 16 the the DET taxlaw-2807 67 17 income income NOUN taxlaw-2807 67 18 tax tax NOUN taxlaw-2807 67 19 with with ADP taxlaw-2807 67 20 a a DET taxlaw-2807 67 21 progressive progressive ADJ taxlaw-2807 67 22 consumption consumption NOUN taxlaw-2807 67 23 tax tax NOUN taxlaw-2807 67 24 , , PUNCT taxlaw-2807 67 25 103 103 NUM taxlaw-2807 67 26 tax tax NOUN taxlaw-2807 67 27 notes note NOUN taxlaw-2807 67 28 91 91 NUM taxlaw-2807 67 29 ( ( PUNCT taxlaw-2807 67 30 2004 2004 NUM taxlaw-2807 67 31 ) ) PUNCT taxlaw-2807 67 32 . . PUNCT taxlaw-2807 68 1 see see VERB taxlaw-2807 68 2 also also ADV taxlaw-2807 68 3 william william PROPN taxlaw-2807 68 4 d. d. PROPN taxlaw-2807 68 5 andrews andrews PROPN taxlaw-2807 68 6 , , PUNCT taxlaw-2807 68 7 a a DET taxlaw-2807 68 8 consumptiontype consumptiontype NOUN taxlaw-2807 68 9 or or CCONJ taxlaw-2807 68 10 cash cash NOUN taxlaw-2807 68 11 flow flow NOUN taxlaw-2807 68 12 personal personal ADJ taxlaw-2807 68 13 income income NOUN taxlaw-2807 68 14 tax tax NOUN taxlaw-2807 68 15 , , PUNCT taxlaw-2807 68 16 87 87 NUM taxlaw-2807 68 17 harv harv NOUN taxlaw-2807 68 18 . . PUNCT taxlaw-2807 69 1 l. l. PROPN taxlaw-2807 69 2 rev rev PROPN taxlaw-2807 69 3 . . PROPN taxlaw-2807 69 4 1113 1113 NUM taxlaw-2807 69 5 , , PUNCT taxlaw-2807 69 6 1115–16 1115–16 NUM taxlaw-2807 69 7 ( ( PUNCT taxlaw-2807 69 8 1974 1974 NUM taxlaw-2807 69 9 ) ) PUNCT taxlaw-2807 69 10 . . PUNCT taxlaw-2807 70 1 8 8 NUM taxlaw-2807 70 2 see see VERB taxlaw-2807 70 3 shaviro shaviro NOUN taxlaw-2807 70 4 , , PUNCT taxlaw-2807 70 5 supra supra PROPN taxlaw-2807 70 6 note note NOUN taxlaw-2807 70 7 1 1 NUM taxlaw-2807 70 8 , , PUNCT taxlaw-2807 70 9 at at ADP taxlaw-2807 70 10 66 66 NUM taxlaw-2807 70 11 ; ; PUNCT taxlaw-2807 70 12 edward edward PROPN taxlaw-2807 70 13 a. a. NOUN taxlaw-2807 70 14 zelinsky zelinsky PROPN taxlaw-2807 70 15 , , PUNCT taxlaw-2807 70 16 for for ADP taxlaw-2807 70 17 realization realization NOUN taxlaw-2807 70 18 : : PUNCT taxlaw-2807 70 19 income income NOUN taxlaw-2807 70 20 taxation taxation NOUN taxlaw-2807 70 21 , , PUNCT taxlaw-2807 70 22 sectoral sectoral ADJ taxlaw-2807 70 23 accretionism accretionism NOUN taxlaw-2807 70 24 , , PUNCT taxlaw-2807 70 25 and and CCONJ taxlaw-2807 70 26 the the DET taxlaw-2807 70 27 virtue virtue NOUN taxlaw-2807 70 28 of of ADP taxlaw-2807 70 29 attainable attainable ADJ taxlaw-2807 70 30 virtues virtue NOUN taxlaw-2807 70 31 , , PUNCT taxlaw-2807 70 32 19 19 NUM taxlaw-2807 70 33 cardozo cardozo PROPN taxlaw-2807 70 34 l. l. PROPN taxlaw-2807 70 35 rev rev PROPN taxlaw-2807 70 36 . . PROPN taxlaw-2807 70 37 861 861 NUM taxlaw-2807 70 38 , , PUNCT taxlaw-2807 70 39 862 862 NUM taxlaw-2807 70 40 ( ( PUNCT taxlaw-2807 70 41 1997 1997 NUM taxlaw-2807 70 42 ) ) PUNCT taxlaw-2807 70 43 . . PUNCT taxlaw-2807 71 1 2011 2011 NUM taxlaw-2807 71 2 ] ] PUNCT taxlaw-2807 71 3 realization realization NOUN taxlaw-2807 71 4 and and CCONJ taxlaw-2807 71 5 progressivity progressivity NOUN taxlaw-2807 71 6 47 47 NUM taxlaw-2807 71 7 david david PROPN taxlaw-2807 71 8 shakow shakow PROPN taxlaw-2807 71 9 , , PUNCT taxlaw-2807 71 10 and and CCONJ taxlaw-2807 71 11 david david PROPN taxlaw-2807 71 12 weisbach weisbach PROPN taxlaw-2807 71 13 , , PUNCT taxlaw-2807 71 14 think think VERB taxlaw-2807 71 15 that that SCONJ taxlaw-2807 71 16 the the DET taxlaw-2807 71 17 income income NOUN taxlaw-2807 71 18 tax tax NOUN taxlaw-2807 71 19 should should AUX taxlaw-2807 71 20 gradually gradually ADV taxlaw-2807 71 21 shift shift VERB taxlaw-2807 71 22 away away ADV taxlaw-2807 71 23 from from ADP taxlaw-2807 71 24 realization.9 realization.9 PROPN taxlaw-2807 71 25 as as SCONJ taxlaw-2807 71 26 policymakers policymaker NOUN taxlaw-2807 71 27 consider consider VERB taxlaw-2807 71 28 decreasing decrease VERB taxlaw-2807 71 29 the the DET taxlaw-2807 71 30 set set NOUN taxlaw-2807 71 31 of of ADP taxlaw-2807 71 32 assets asset NOUN taxlaw-2807 71 33 subject subject ADJ taxlaw-2807 71 34 to to ADP taxlaw-2807 71 35 realization realization NOUN taxlaw-2807 71 36 , , PUNCT taxlaw-2807 71 37 they they PRON taxlaw-2807 71 38 should should AUX taxlaw-2807 71 39 be be AUX taxlaw-2807 71 40 guided guide VERB taxlaw-2807 71 41 by by ADP taxlaw-2807 71 42 some some DET taxlaw-2807 71 43 commonly commonly ADV taxlaw-2807 71 44 accepted accept VERB taxlaw-2807 71 45 baseline baseline NOUN taxlaw-2807 71 46 principles principle NOUN taxlaw-2807 71 47 . . PUNCT taxlaw-2807 72 1 although although SCONJ taxlaw-2807 72 2 scholars scholar NOUN taxlaw-2807 72 3 disagree disagree VERB taxlaw-2807 72 4 about about ADP taxlaw-2807 72 5 the the DET taxlaw-2807 72 6 proper proper ADJ taxlaw-2807 72 7 role role NOUN taxlaw-2807 72 8 of of ADP taxlaw-2807 72 9 realization realization NOUN taxlaw-2807 72 10 moving move VERB taxlaw-2807 72 11 forward forward ADV taxlaw-2807 72 12 , , PUNCT taxlaw-2807 72 13 there there PRON taxlaw-2807 72 14 is be VERB taxlaw-2807 72 15 consensus consensus NOUN taxlaw-2807 72 16 on on ADP taxlaw-2807 72 17 three three NUM taxlaw-2807 72 18 main main ADJ taxlaw-2807 72 19 issues issue NOUN taxlaw-2807 72 20 . . PUNCT taxlaw-2807 73 1 first first ADV taxlaw-2807 73 2 , , PUNCT taxlaw-2807 73 3 most most ADJ taxlaw-2807 73 4 of of ADP taxlaw-2807 73 5 the the DET taxlaw-2807 73 6 income income NOUN taxlaw-2807 73 7 tax tax NOUN taxlaw-2807 73 8 ’s ’s PART taxlaw-2807 73 9 shortcomings shortcoming NOUN taxlaw-2807 73 10 are be AUX taxlaw-2807 73 11 a a DET taxlaw-2807 73 12 direct direct ADJ taxlaw-2807 73 13 result result NOUN taxlaw-2807 73 14 of of ADP taxlaw-2807 73 15 the the DET taxlaw-2807 73 16 realization realization NOUN taxlaw-2807 73 17 requirement.10 requirement.10 NOUN taxlaw-2807 73 18 therefore therefore ADV taxlaw-2807 73 19 , , PUNCT taxlaw-2807 73 20 as as ADV taxlaw-2807 73 21 long long ADV taxlaw-2807 73 22 as as SCONJ taxlaw-2807 73 23 realization realization NOUN taxlaw-2807 73 24 is be AUX taxlaw-2807 73 25 part part NOUN taxlaw-2807 73 26 of of ADP taxlaw-2807 73 27 the the DET taxlaw-2807 73 28 income income NOUN taxlaw-2807 73 29 tax tax NOUN taxlaw-2807 73 30 regime regime NOUN taxlaw-2807 73 31 , , PUNCT taxlaw-2807 73 32 problems problem NOUN taxlaw-2807 73 33 of of ADP taxlaw-2807 73 34 complexity complexity NOUN taxlaw-2807 73 35 , , PUNCT taxlaw-2807 73 36 planning planning NOUN taxlaw-2807 73 37 , , PUNCT taxlaw-2807 73 38 inequity inequity NOUN taxlaw-2807 73 39 , , PUNCT taxlaw-2807 73 40 and and CCONJ taxlaw-2807 73 41 inefficiency inefficiency NOUN taxlaw-2807 73 42 are be AUX taxlaw-2807 73 43 inevitable.11 inevitable.11 ADJ taxlaw-2807 73 44 second second ADJ taxlaw-2807 73 45 , , PUNCT taxlaw-2807 73 46 there there PRON taxlaw-2807 73 47 can can AUX taxlaw-2807 73 48 be be AUX taxlaw-2807 73 49 no no DET taxlaw-2807 73 50 practical practical ADJ taxlaw-2807 73 51 income income NOUN taxlaw-2807 73 52 taxation taxation NOUN taxlaw-2807 73 53 without without ADP taxlaw-2807 73 54 realization realization NOUN taxlaw-2807 73 55 , , PUNCT taxlaw-2807 73 56 so so SCONJ taxlaw-2807 73 57 at at ADP taxlaw-2807 73 58 least least ADJ taxlaw-2807 73 59 some some PRON taxlaw-2807 73 60 assets asset NOUN taxlaw-2807 73 61 will will AUX taxlaw-2807 73 62 always always ADV taxlaw-2807 73 63 be be AUX taxlaw-2807 73 64 taxed tax VERB taxlaw-2807 73 65 only only ADV taxlaw-2807 73 66 upon upon SCONJ taxlaw-2807 73 67 realization.12 realization.12 PROPN taxlaw-2807 73 68 third third NOUN taxlaw-2807 73 69 , , PUNCT taxlaw-2807 73 70 all all DET taxlaw-2807 73 71 tax tax NOUN taxlaw-2807 73 72 scholars scholar NOUN taxlaw-2807 73 73 , , PUNCT taxlaw-2807 73 74 with with ADP taxlaw-2807 73 75 the the DET taxlaw-2807 73 76 exception exception NOUN taxlaw-2807 73 77 of of ADP taxlaw-2807 73 78 david david PROPN taxlaw-2807 73 79 schizer,13 schizer,13 NOUN taxlaw-2807 73 80 seem seem VERB taxlaw-2807 73 81 to to PART taxlaw-2807 73 82 accept accept VERB taxlaw-2807 73 83 that that DET taxlaw-2807 73 84 realization realization NOUN taxlaw-2807 73 85 has have VERB taxlaw-2807 73 86 no no DET taxlaw-2807 73 87 theoretical theoretical ADJ taxlaw-2807 73 88 or or CCONJ taxlaw-2807 73 89 policy policy NOUN taxlaw-2807 73 90 underpinnings underpinning NOUN taxlaw-2807 73 91 and and CCONJ taxlaw-2807 73 92 that that SCONJ taxlaw-2807 73 93 it it PRON taxlaw-2807 73 94 is be AUX taxlaw-2807 73 95 merely merely ADV taxlaw-2807 73 96 a a DET taxlaw-2807 73 97 second second ADV taxlaw-2807 73 98 - - PUNCT taxlaw-2807 73 99 best good ADJ taxlaw-2807 73 100 solution solution NOUN taxlaw-2807 73 101 driven drive VERB taxlaw-2807 73 102 primarily primarily ADV taxlaw-2807 73 103 by by ADP taxlaw-2807 73 104 concerns concern NOUN taxlaw-2807 73 105 about about ADP taxlaw-2807 73 106 asset asset NOUN taxlaw-2807 73 107 valuation valuation NOUN taxlaw-2807 73 108 and and CCONJ taxlaw-2807 73 109 taxpayer taxpayer NOUN taxlaw-2807 73 110 liquidity.14 liquidity.14 PROPN taxlaw-2807 73 111 this this DET taxlaw-2807 73 112 article article NOUN taxlaw-2807 73 113 challenges challenge VERB taxlaw-2807 73 114 the the DET taxlaw-2807 73 115 third third NOUN taxlaw-2807 73 116 of of ADP taxlaw-2807 73 117 these these DET taxlaw-2807 73 118 views view NOUN taxlaw-2807 73 119 and and CCONJ taxlaw-2807 73 120 raises raise VERB taxlaw-2807 73 121 some some DET taxlaw-2807 73 122 important important ADJ taxlaw-2807 73 123 implications implication NOUN taxlaw-2807 73 124 regarding regard VERB taxlaw-2807 73 125 the the DET taxlaw-2807 73 126 other other ADJ taxlaw-2807 73 127 two two NUM taxlaw-2807 73 128 . . PUNCT taxlaw-2807 74 1 it it PRON taxlaw-2807 74 2 calls call VERB taxlaw-2807 74 3 for for ADP taxlaw-2807 74 4 applying apply VERB taxlaw-2807 74 5 the the DET taxlaw-2807 74 6 realization realization NOUN taxlaw-2807 74 7 requirement requirement NOUN taxlaw-2807 74 8 in in ADP taxlaw-2807 74 9 a a DET taxlaw-2807 74 10 fundamentally fundamentally ADV taxlaw-2807 74 11 different different ADJ taxlaw-2807 74 12 way way NOUN taxlaw-2807 74 13 and and CCONJ taxlaw-2807 74 14 suggests suggest VERB taxlaw-2807 74 15 some some DET taxlaw-2807 74 16 substantial substantial ADJ taxlaw-2807 74 17 , , PUNCT taxlaw-2807 74 18 yet yet ADV taxlaw-2807 74 19 feasible feasible ADJ taxlaw-2807 74 20 , , PUNCT taxlaw-2807 74 21 policy policy NOUN taxlaw-2807 74 22 reforms reform NOUN taxlaw-2807 74 23 that that PRON taxlaw-2807 74 24 would would AUX taxlaw-2807 74 25 allow allow VERB taxlaw-2807 74 26 the the DET taxlaw-2807 74 27 tax tax NOUN taxlaw-2807 74 28 system system NOUN taxlaw-2807 74 29 to to PART taxlaw-2807 74 30 better well ADV taxlaw-2807 74 31 achieve achieve VERB taxlaw-2807 74 32 its its PRON taxlaw-2807 74 33 distributional distributional ADJ taxlaw-2807 74 34 objectives objective NOUN taxlaw-2807 74 35 . . PUNCT taxlaw-2807 75 1 it it PRON taxlaw-2807 75 2 expands expand VERB taxlaw-2807 75 3 upon upon SCONJ taxlaw-2807 75 4 a a DET taxlaw-2807 75 5 previous previous ADJ taxlaw-2807 75 6 article article NOUN taxlaw-2807 75 7 that that PRON taxlaw-2807 75 8 deals deal VERB taxlaw-2807 75 9 with with ADP taxlaw-2807 75 10 the the DET taxlaw-2807 75 11 taxation taxation NOUN taxlaw-2807 75 12 of of ADP taxlaw-2807 75 13 earning earn VERB taxlaw-2807 75 14 capacity capacity NOUN taxlaw-2807 75 15 , , PUNCT taxlaw-2807 75 16 examining examine VERB taxlaw-2807 75 17 how how SCONJ taxlaw-2807 75 18 tax tax NOUN taxlaw-2807 75 19 policy policy NOUN taxlaw-2807 75 20 can can AUX taxlaw-2807 75 21 be be AUX taxlaw-2807 75 22 advanced advance VERB taxlaw-2807 75 23 with with ADP taxlaw-2807 75 24 respect respect NOUN taxlaw-2807 75 25 to to ADP taxlaw-2807 75 26 the the DET taxlaw-2807 75 27 realization realization NOUN taxlaw-2807 75 28 principle.15 principle.15 PROPN taxlaw-2807 75 29 admittedly admittedly ADV taxlaw-2807 75 30 , , PUNCT taxlaw-2807 75 31 from from ADP taxlaw-2807 75 32 a a DET taxlaw-2807 75 33 “ " PUNCT taxlaw-2807 75 34 pure pure ADJ taxlaw-2807 75 35 ” " PUNCT taxlaw-2807 75 36 income income NOUN taxlaw-2807 75 37 tax tax NOUN taxlaw-2807 75 38 perspective perspective NOUN taxlaw-2807 75 39 , , PUNCT taxlaw-2807 75 40 taxing tax VERB taxlaw-2807 75 41 personal personal ADJ taxlaw-2807 75 42 assets asset NOUN taxlaw-2807 75 43 only only ADV taxlaw-2807 75 44 upon upon SCONJ taxlaw-2807 75 45 realization realization NOUN taxlaw-2807 75 46 rather rather ADV taxlaw-2807 75 47 than than ADP taxlaw-2807 75 48 as as SCONJ taxlaw-2807 75 49 their their PRON taxlaw-2807 75 50 market market NOUN taxlaw-2807 75 51 value value NOUN taxlaw-2807 75 52 changes change NOUN taxlaw-2807 75 53 provides provide VERB taxlaw-2807 75 54 their their PRON taxlaw-2807 75 55 owners owner NOUN taxlaw-2807 75 56 with with ADP taxlaw-2807 75 57 deferral deferral ADJ taxlaw-2807 75 58 and and CCONJ taxlaw-2807 75 59 other other ADJ taxlaw-2807 75 60 tax tax NOUN taxlaw-2807 75 61 benefits.16 benefits.16 PROPN taxlaw-2807 75 62 however however ADV taxlaw-2807 75 63 , , PUNCT taxlaw-2807 75 64 we we PRON taxlaw-2807 75 65 argue argue VERB taxlaw-2807 75 66 that that SCONJ taxlaw-2807 75 67 these these DET taxlaw-2807 75 68 benefits benefit NOUN taxlaw-2807 75 69 may may AUX taxlaw-2807 75 70 be be AUX taxlaw-2807 75 71 justified justify VERB taxlaw-2807 75 72 because because SCONJ taxlaw-2807 75 73 they they PRON taxlaw-2807 75 74 are be AUX taxlaw-2807 75 75 progressively progressively ADV taxlaw-2807 75 76 distributed.17 distributed.17 VERB taxlaw-2807 75 77 the the DET taxlaw-2807 75 78 intuition intuition NOUN taxlaw-2807 75 79 behind behind ADP taxlaw-2807 75 80 this this DET taxlaw-2807 75 81 argument argument NOUN taxlaw-2807 75 82 is be AUX taxlaw-2807 75 83 that that SCONJ taxlaw-2807 75 84 9 9 NUM taxlaw-2807 75 85 see see VERB taxlaw-2807 75 86 noël noël PROPN taxlaw-2807 75 87 b. b. PROPN taxlaw-2807 75 88 cunningham cunningham PROPN taxlaw-2807 75 89 & & CCONJ taxlaw-2807 75 90 deborah deborah PROPN taxlaw-2807 75 91 h. h. PROPN taxlaw-2807 75 92 schenk schenk PROPN taxlaw-2807 75 93 , , PUNCT taxlaw-2807 75 94 taxation taxation NOUN taxlaw-2807 75 95 without without ADP taxlaw-2807 75 96 realization realization NOUN taxlaw-2807 75 97 : : PUNCT taxlaw-2807 75 98 a a DET taxlaw-2807 75 99 “ " PUNCT taxlaw-2807 75 100 revolutionary revolutionary ADJ taxlaw-2807 75 101 ” " PUNCT taxlaw-2807 75 102 approach approach NOUN taxlaw-2807 75 103 to to ADP taxlaw-2807 75 104 ownership ownership NOUN taxlaw-2807 75 105 , , PUNCT taxlaw-2807 75 106 47 47 NUM taxlaw-2807 75 107 tax tax NOUN taxlaw-2807 75 108 l. l. PROPN taxlaw-2807 75 109 rev rev PROPN taxlaw-2807 75 110 . . PROPN taxlaw-2807 75 111 725 725 NUM taxlaw-2807 75 112 , , PUNCT taxlaw-2807 75 113 799–800 799–800 NUM taxlaw-2807 75 114 ( ( PUNCT taxlaw-2807 75 115 1992 1992 NUM taxlaw-2807 75 116 ) ) PUNCT taxlaw-2807 75 117 ; ; PUNCT taxlaw-2807 75 118 daniel daniel PROPN taxlaw-2807 75 119 halperin halperin PROPN taxlaw-2807 75 120 , , PUNCT taxlaw-2807 75 121 saving save VERB taxlaw-2807 75 122 the the DET taxlaw-2807 75 123 income income NOUN taxlaw-2807 75 124 tax tax NOUN taxlaw-2807 75 125 : : PUNCT taxlaw-2807 75 126 an an DET taxlaw-2807 75 127 agenda agenda NOUN taxlaw-2807 75 128 for for ADP taxlaw-2807 75 129 research research NOUN taxlaw-2807 75 130 , , PUNCT taxlaw-2807 75 131 24 24 NUM taxlaw-2807 75 132 ohio ohio PROPN taxlaw-2807 75 133 n.u n.u PROPN taxlaw-2807 75 134 . . PROPN taxlaw-2807 75 135 l. l. PROPN taxlaw-2807 75 136 rev rev PROPN taxlaw-2807 75 137 . . PROPN taxlaw-2807 75 138 493 493 NUM taxlaw-2807 75 139 , , PUNCT taxlaw-2807 75 140 501 501 NUM taxlaw-2807 75 141 ( ( PUNCT taxlaw-2807 75 142 1998 1998 NUM taxlaw-2807 75 143 ) ) PUNCT taxlaw-2807 75 144 ; ; PUNCT taxlaw-2807 75 145 david david PROPN taxlaw-2807 75 146 j. j. PROPN taxlaw-2807 75 147 shakow shakow PROPN taxlaw-2807 75 148 , , PUNCT taxlaw-2807 75 149 taxation taxation NOUN taxlaw-2807 75 150 without without ADP taxlaw-2807 75 151 realization realization NOUN taxlaw-2807 75 152 : : PUNCT taxlaw-2807 75 153 a a DET taxlaw-2807 75 154 proposal proposal NOUN taxlaw-2807 75 155 for for ADP taxlaw-2807 75 156 accrual accrual ADJ taxlaw-2807 75 157 taxation taxation NOUN taxlaw-2807 75 158 , , PUNCT taxlaw-2807 75 159 134 134 NUM taxlaw-2807 75 160 u. u. NOUN taxlaw-2807 75 161 pa pa PROPN taxlaw-2807 75 162 . . PUNCT taxlaw-2807 75 163 l. l. PROPN taxlaw-2807 75 164 rev rev PROPN taxlaw-2807 75 165 . . PROPN taxlaw-2807 75 166 1111 1111 NUM taxlaw-2807 75 167 , , PUNCT taxlaw-2807 75 168 1114 1114 NUM taxlaw-2807 75 169 - - SYM taxlaw-2807 75 170 15 15 NUM taxlaw-2807 75 171 ( ( PUNCT taxlaw-2807 75 172 1986 1986 NUM taxlaw-2807 75 173 ) ) PUNCT taxlaw-2807 75 174 ; ; PUNCT taxlaw-2807 75 175 weisbach weisbach NOUN taxlaw-2807 75 176 , , PUNCT taxlaw-2807 75 177 supra supra ADJ taxlaw-2807 75 178 note note NOUN taxlaw-2807 75 179 1 1 NUM taxlaw-2807 75 180 , , PUNCT taxlaw-2807 75 181 at at ADP taxlaw-2807 75 182 99 99 NUM taxlaw-2807 75 183 . . PUNCT taxlaw-2807 75 184 10 10 NUM taxlaw-2807 75 185 see see VERB taxlaw-2807 75 186 cunningham cunningham PROPN taxlaw-2807 75 187 & & CCONJ taxlaw-2807 75 188 schenk schenk PROPN taxlaw-2807 75 189 , , PUNCT taxlaw-2807 75 190 supra supra PROPN taxlaw-2807 75 191 note note NOUN taxlaw-2807 75 192 9 9 NUM taxlaw-2807 75 193 , , PUNCT taxlaw-2807 75 194 at at ADP taxlaw-2807 75 195 728 728 NUM taxlaw-2807 75 196 ; ; PUNCT taxlaw-2807 75 197 edward edward PROPN taxlaw-2807 75 198 d. d. PROPN taxlaw-2807 75 199 kleinbard kleinbard PROPN taxlaw-2807 75 200 & & CCONJ taxlaw-2807 75 201 thomas thomas PROPN taxlaw-2807 75 202 l. l. PROPN taxlaw-2807 75 203 evans evans PROPN taxlaw-2807 75 204 , , PUNCT taxlaw-2807 75 205 the the DET taxlaw-2807 75 206 role role NOUN taxlaw-2807 75 207 of of ADP taxlaw-2807 75 208 mark mark NOUN taxlaw-2807 75 209 - - PUNCT taxlaw-2807 75 210 to to ADP taxlaw-2807 75 211 - - PUNCT taxlaw-2807 75 212 market market NOUN taxlaw-2807 75 213 accounting accounting NOUN taxlaw-2807 75 214 in in ADP taxlaw-2807 75 215 a a DET taxlaw-2807 75 216 realization realization NOUN taxlaw-2807 75 217 based base VERB taxlaw-2807 75 218 tax tax NOUN taxlaw-2807 75 219 system system NOUN taxlaw-2807 75 220 , , PUNCT taxlaw-2807 75 221 75 75 NUM taxlaw-2807 75 222 taxes taxis NOUN taxlaw-2807 75 223 788 788 NUM taxlaw-2807 75 224 , , PUNCT taxlaw-2807 75 225 789 789 NUM taxlaw-2807 75 226 ( ( PUNCT taxlaw-2807 75 227 1997 1997 NUM taxlaw-2807 75 228 ) ) PUNCT taxlaw-2807 75 229 ( ( PUNCT taxlaw-2807 75 230 identifying identify VERB taxlaw-2807 75 231 realization realization NOUN taxlaw-2807 75 232 as as ADP taxlaw-2807 75 233 the the DET taxlaw-2807 75 234 root root NOUN taxlaw-2807 75 235 of of ADP taxlaw-2807 75 236 many many ADJ taxlaw-2807 75 237 tax tax NOUN taxlaw-2807 75 238 evils evil NOUN taxlaw-2807 75 239 ) ) PUNCT taxlaw-2807 75 240 . . PUNCT taxlaw-2807 76 1 see see VERB taxlaw-2807 76 2 also also ADV taxlaw-2807 76 3 joseph joseph PROPN taxlaw-2807 76 4 bankman bankman PROPN taxlaw-2807 76 5 , , PUNCT taxlaw-2807 76 6 what what PRON taxlaw-2807 76 7 can can AUX taxlaw-2807 76 8 we we PRON taxlaw-2807 76 9 say say VERB taxlaw-2807 76 10 about about ADP taxlaw-2807 76 11 a a DET taxlaw-2807 76 12 wealth wealth NOUN taxlaw-2807 76 13 tax tax NOUN taxlaw-2807 76 14 ? ? PUNCT taxlaw-2807 76 15 , , PUNCT taxlaw-2807 76 16 53 53 NUM taxlaw-2807 76 17 tax tax NOUN taxlaw-2807 76 18 l. l. PROPN taxlaw-2807 76 19 rev rev PROPN taxlaw-2807 76 20 . . PROPN taxlaw-2807 76 21 477 477 NUM taxlaw-2807 76 22 , , PUNCT taxlaw-2807 76 23 477 477 NUM taxlaw-2807 76 24 ( ( PUNCT taxlaw-2807 76 25 2000 2000 NUM taxlaw-2807 76 26 ) ) PUNCT taxlaw-2807 76 27 ; ; PUNCT taxlaw-2807 76 28 fred fred PROPN taxlaw-2807 76 29 b. b. PROPN taxlaw-2807 76 30 brown brown PROPN taxlaw-2807 76 31 , , PUNCT taxlaw-2807 76 32 “ " PUNCT taxlaw-2807 76 33 complete complete ADJ taxlaw-2807 76 34 ” " PUNCT taxlaw-2807 76 35 accrual accrual ADJ taxlaw-2807 76 36 taxation taxation NOUN taxlaw-2807 76 37 , , PUNCT taxlaw-2807 76 38 33 33 NUM taxlaw-2807 76 39 san san PROPN taxlaw-2807 76 40 diego diego PROPN taxlaw-2807 76 41 l. l. PROPN taxlaw-2807 76 42 rev rev PROPN taxlaw-2807 76 43 . . PROPN taxlaw-2807 76 44 1559 1559 NUM taxlaw-2807 76 45 , , PUNCT taxlaw-2807 76 46 1559 1559 NUM taxlaw-2807 76 47 ( ( PUNCT taxlaw-2807 76 48 1996 1996 NUM taxlaw-2807 76 49 ) ) PUNCT taxlaw-2807 76 50 ; ; PUNCT taxlaw-2807 77 1 deborah deborah PROPN taxlaw-2807 77 2 h. h. PROPN taxlaw-2807 77 3 schenk schenk PROPN taxlaw-2807 77 4 , , PUNCT taxlaw-2807 77 5 taxation taxation NOUN taxlaw-2807 77 6 of of ADP taxlaw-2807 77 7 equity equity NOUN taxlaw-2807 77 8 derivatives derivative NOUN taxlaw-2807 77 9 : : PUNCT taxlaw-2807 77 10 a a DET taxlaw-2807 77 11 partial partial ADJ taxlaw-2807 77 12 integration integration NOUN taxlaw-2807 77 13 proposal proposal NOUN taxlaw-2807 77 14 , , PUNCT taxlaw-2807 77 15 50 50 NUM taxlaw-2807 77 16 tax tax NOUN taxlaw-2807 77 17 l. l. PROPN taxlaw-2807 77 18 rev rev PROPN taxlaw-2807 77 19 . . PROPN taxlaw-2807 77 20 571 571 NUM taxlaw-2807 77 21 , , PUNCT taxlaw-2807 77 22 631–32 631–32 NUM taxlaw-2807 77 23 ( ( PUNCT taxlaw-2807 77 24 1995 1995 NUM taxlaw-2807 77 25 ) ) PUNCT taxlaw-2807 77 26 ; ; PUNCT taxlaw-2807 77 27 shakow shakow PROPN taxlaw-2807 77 28 , , PUNCT taxlaw-2807 77 29 supra supra ADJ taxlaw-2807 77 30 note note NOUN taxlaw-2807 77 31 9 9 NUM taxlaw-2807 77 32 , , PUNCT taxlaw-2807 77 33 at at ADP taxlaw-2807 77 34 111–13 111–13 NUM taxlaw-2807 77 35 . . X taxlaw-2807 78 1 11 11 NUM taxlaw-2807 78 2 for for ADP taxlaw-2807 78 3 example example NOUN taxlaw-2807 78 4 , , PUNCT taxlaw-2807 78 5 the the DET taxlaw-2807 78 6 realization realization NOUN taxlaw-2807 78 7 requirement requirement NOUN taxlaw-2807 78 8 is be AUX taxlaw-2807 78 9 often often ADV taxlaw-2807 78 10 cited cite VERB taxlaw-2807 78 11 as as ADP taxlaw-2807 78 12 the the DET taxlaw-2807 78 13 main main ADJ taxlaw-2807 78 14 reason reason NOUN taxlaw-2807 78 15 for for ADP taxlaw-2807 78 16 capital capital NOUN taxlaw-2807 78 17 gains gain NOUN taxlaw-2807 78 18 . . PUNCT taxlaw-2807 79 1 see see VERB taxlaw-2807 79 2 terrence terrence PROPN taxlaw-2807 79 3 r. r. PROPN taxlaw-2807 79 4 chorvat chorvat PROPN taxlaw-2807 79 5 , , PUNCT taxlaw-2807 79 6 ambiguity ambiguity NOUN taxlaw-2807 79 7 and and CCONJ taxlaw-2807 79 8 income income NOUN taxlaw-2807 79 9 taxation taxation NOUN taxlaw-2807 79 10 , , PUNCT taxlaw-2807 79 11 23 23 NUM taxlaw-2807 79 12 cardozo cardozo PROPN taxlaw-2807 79 13 l. l. PROPN taxlaw-2807 79 14 rev rev PROPN taxlaw-2807 79 15 . . PROPN taxlaw-2807 79 16 617 617 NUM taxlaw-2807 79 17 , , PUNCT taxlaw-2807 79 18 647 647 NUM taxlaw-2807 79 19 ( ( PUNCT taxlaw-2807 79 20 2002 2002 NUM taxlaw-2807 79 21 ) ) PUNCT taxlaw-2807 79 22 ; ; PUNCT taxlaw-2807 79 23 edward edward PROPN taxlaw-2807 79 24 j. j. PROPN taxlaw-2807 79 25 mccaffery mccaffery PROPN taxlaw-2807 79 26 , , PUNCT taxlaw-2807 79 27 a a DET taxlaw-2807 79 28 new new ADJ taxlaw-2807 79 29 understanding understanding NOUN taxlaw-2807 79 30 of of ADP taxlaw-2807 79 31 tax tax NOUN taxlaw-2807 79 32 , , PUNCT taxlaw-2807 79 33 103 103 NUM taxlaw-2807 79 34 mich mich X taxlaw-2807 79 35 . . PUNCT taxlaw-2807 80 1 l. l. PROPN taxlaw-2807 80 2 rev rev AUX taxlaw-2807 80 3 . . PROPN taxlaw-2807 80 4 807 807 NUM taxlaw-2807 80 5 , , PUNCT taxlaw-2807 80 6 896 896 NUM taxlaw-2807 80 7 ( ( PUNCT taxlaw-2807 80 8 2005 2005 NUM taxlaw-2807 80 9 ) ) PUNCT taxlaw-2807 80 10 ( ( PUNCT taxlaw-2807 80 11 arguing argue VERB taxlaw-2807 80 12 that that SCONJ taxlaw-2807 80 13 under under ADP taxlaw-2807 80 14 an an DET taxlaw-2807 80 15 incomewith incomewith NOUN taxlaw-2807 80 16 - - PUNCT taxlaw-2807 80 17 realization realization NOUN taxlaw-2807 80 18 tax tax NOUN taxlaw-2807 80 19 , , PUNCT taxlaw-2807 80 20 some some DET taxlaw-2807 80 21 preference preference NOUN taxlaw-2807 80 22 for for ADP taxlaw-2807 80 23 capital capital NOUN taxlaw-2807 80 24 gains gain NOUN taxlaw-2807 80 25 is be AUX taxlaw-2807 80 26 needed need VERB taxlaw-2807 80 27 ) ) PUNCT taxlaw-2807 80 28 . . PUNCT taxlaw-2807 81 1 a a DET taxlaw-2807 81 2 recent recent ADJ taxlaw-2807 81 3 realization realization NOUN taxlaw-2807 81 4 - - PUNCT taxlaw-2807 81 5 related relate VERB taxlaw-2807 81 6 debate debate NOUN taxlaw-2807 81 7 concerns concern VERB taxlaw-2807 81 8 the the DET taxlaw-2807 81 9 profit profit NOUN taxlaw-2807 81 10 interest interest NOUN taxlaw-2807 81 11 compensation compensation PROPN taxlaw-2807 81 12 of of ADP taxlaw-2807 81 13 hedge hedge NOUN taxlaw-2807 81 14 fund fund NOUN taxlaw-2807 81 15 managers manager NOUN taxlaw-2807 81 16 . . PUNCT taxlaw-2807 82 1 the the DET taxlaw-2807 82 2 main main ADJ taxlaw-2807 82 3 issue issue NOUN taxlaw-2807 82 4 was be AUX taxlaw-2807 82 5 whether whether SCONJ taxlaw-2807 82 6 the the DET taxlaw-2807 82 7 managers manager NOUN taxlaw-2807 82 8 received receive VERB taxlaw-2807 82 9 something something PRON taxlaw-2807 82 10 of of ADP taxlaw-2807 82 11 value value NOUN taxlaw-2807 82 12 before before ADP taxlaw-2807 82 13 cashing cash VERB taxlaw-2807 82 14 their their PRON taxlaw-2807 82 15 profits profit NOUN taxlaw-2807 82 16 . . PUNCT taxlaw-2807 83 1 see see VERB taxlaw-2807 83 2 victor victor PROPN taxlaw-2807 83 3 fleischer fleischer PROPN taxlaw-2807 83 4 , , PUNCT taxlaw-2807 83 5 two two NUM taxlaw-2807 83 6 and and CCONJ taxlaw-2807 83 7 twenty twenty NUM taxlaw-2807 83 8 : : PUNCT taxlaw-2807 83 9 taxing tax VERB taxlaw-2807 83 10 partnership partnership NOUN taxlaw-2807 83 11 profits profit NOUN taxlaw-2807 83 12 in in ADP taxlaw-2807 83 13 private private ADJ taxlaw-2807 83 14 equity equity NOUN taxlaw-2807 83 15 funds fund NOUN taxlaw-2807 83 16 , , PUNCT taxlaw-2807 83 17 83 83 NUM taxlaw-2807 83 18 n.y.u n.y.u NOUN taxlaw-2807 83 19 . . PUNCT taxlaw-2807 84 1 l. l. PROPN taxlaw-2807 84 2 rev rev PROPN taxlaw-2807 84 3 . . PROPN taxlaw-2807 84 4 1 1 NUM taxlaw-2807 84 5 , , PUNCT taxlaw-2807 84 6 5 5 NUM taxlaw-2807 84 7 ( ( PUNCT taxlaw-2807 84 8 2008 2008 NUM taxlaw-2807 84 9 ) ) PUNCT taxlaw-2807 84 10 . . PUNCT taxlaw-2807 85 1 12 12 NUM taxlaw-2807 85 2 see see VERB taxlaw-2807 85 3 halperin halperin NOUN taxlaw-2807 85 4 , , PUNCT taxlaw-2807 85 5 supra supra PROPN taxlaw-2807 85 6 note note NOUN taxlaw-2807 85 7 9 9 NUM taxlaw-2807 85 8 , , PUNCT taxlaw-2807 85 9 at at ADP taxlaw-2807 85 10 503 503 NUM taxlaw-2807 85 11 ; ; PUNCT taxlaw-2807 86 1 deborah deborah PROPN taxlaw-2807 86 2 h. h. PROPN taxlaw-2807 86 3 schenk schenk PROPN taxlaw-2807 86 4 , , PUNCT taxlaw-2807 86 5 a a DET taxlaw-2807 86 6 positive positive ADJ taxlaw-2807 86 7 account account NOUN taxlaw-2807 86 8 of of ADP taxlaw-2807 86 9 the the DET taxlaw-2807 86 10 realization realization NOUN taxlaw-2807 86 11 rule rule NOUN taxlaw-2807 86 12 , , PUNCT taxlaw-2807 86 13 57 57 NUM taxlaw-2807 86 14 tax tax NOUN taxlaw-2807 86 15 l. l. PROPN taxlaw-2807 86 16 rev rev PROPN taxlaw-2807 86 17 . . PROPN taxlaw-2807 86 18 355 355 NUM taxlaw-2807 86 19 , , PUNCT taxlaw-2807 86 20 364 364 NUM taxlaw-2807 86 21 - - SYM taxlaw-2807 86 22 65 65 NUM taxlaw-2807 86 23 ( ( PUNCT taxlaw-2807 86 24 2004 2004 NUM taxlaw-2807 86 25 ) ) PUNCT taxlaw-2807 86 26 ; ; PUNCT taxlaw-2807 86 27 shakow shakow PROPN taxlaw-2807 86 28 , , PUNCT taxlaw-2807 86 29 supra supra ADJ taxlaw-2807 86 30 note note NOUN taxlaw-2807 86 31 9 9 NUM taxlaw-2807 86 32 , , PUNCT taxlaw-2807 86 33 at at ADP taxlaw-2807 86 34 1144 1144 NUM taxlaw-2807 86 35 ; ; PUNCT taxlaw-2807 86 36 shaviro shaviro NOUN taxlaw-2807 86 37 , , PUNCT taxlaw-2807 86 38 supra supra PROPN taxlaw-2807 86 39 note note NOUN taxlaw-2807 86 40 1 1 NUM taxlaw-2807 86 41 , , PUNCT taxlaw-2807 86 42 at at ADP taxlaw-2807 86 43 7 7 NUM taxlaw-2807 86 44 ; ; PUNCT taxlaw-2807 86 45 zelinsky zelinsky ADJ taxlaw-2807 86 46 , , PUNCT taxlaw-2807 86 47 supra supra ADJ taxlaw-2807 86 48 note note NOUN taxlaw-2807 86 49 8 8 NUM taxlaw-2807 86 50 , , PUNCT taxlaw-2807 86 51 at at ADP taxlaw-2807 86 52 876 876 NUM taxlaw-2807 86 53 . . PUNCT taxlaw-2807 86 54 13 13 NUM taxlaw-2807 86 55 see see VERB taxlaw-2807 86 56 schizer schizer NOUN taxlaw-2807 86 57 , , PUNCT taxlaw-2807 86 58 supra supra PROPN taxlaw-2807 86 59 note note NOUN taxlaw-2807 86 60 1 1 NUM taxlaw-2807 86 61 , , PUNCT taxlaw-2807 86 62 at at ADP taxlaw-2807 86 63 1552–53 1552–53 NUM taxlaw-2807 86 64 . . PUNCT taxlaw-2807 87 1 14 14 NUM taxlaw-2807 87 2 see see VERB taxlaw-2807 87 3 , , PUNCT taxlaw-2807 87 4 e.g. e.g. ADV taxlaw-2807 87 5 , , PUNCT taxlaw-2807 87 6 halperin halperin NOUN taxlaw-2807 87 7 , , PUNCT taxlaw-2807 87 8 supra supra PROPN taxlaw-2807 87 9 note note NOUN taxlaw-2807 87 10 9 9 NUM taxlaw-2807 87 11 , , PUNCT taxlaw-2807 87 12 at at ADP taxlaw-2807 87 13 499 499 NUM taxlaw-2807 87 14 ; ; PUNCT taxlaw-2807 87 15 schenk schenk PROPN taxlaw-2807 87 16 , , PUNCT taxlaw-2807 87 17 supra supra PROPN taxlaw-2807 87 18 note note PROPN taxlaw-2807 87 19 12 12 NUM taxlaw-2807 87 20 , , PUNCT taxlaw-2807 87 21 at at ADP taxlaw-2807 87 22 355–56 355–56 NUM taxlaw-2807 87 23 ; ; PUNCT taxlaw-2807 87 24 schenk schenk PROPN taxlaw-2807 87 25 , , PUNCT taxlaw-2807 87 26 supra supra PROPN taxlaw-2807 87 27 note note PROPN taxlaw-2807 87 28 10 10 NUM taxlaw-2807 87 29 , , PUNCT taxlaw-2807 87 30 at at ADP taxlaw-2807 87 31 629 629 NUM taxlaw-2807 87 32 ; ; PUNCT taxlaw-2807 87 33 shakow shakow ADJ taxlaw-2807 87 34 , , PUNCT taxlaw-2807 87 35 supra supra ADJ taxlaw-2807 87 36 note note NOUN taxlaw-2807 87 37 9 9 NUM taxlaw-2807 87 38 , , PUNCT taxlaw-2807 87 39 at at ADP taxlaw-2807 87 40 1114 1114 NUM taxlaw-2807 87 41 ; ; PUNCT taxlaw-2807 87 42 weisbach weisbach NOUN taxlaw-2807 87 43 , , PUNCT taxlaw-2807 87 44 supra supra ADJ taxlaw-2807 87 45 note note NOUN taxlaw-2807 87 46 1 1 NUM taxlaw-2807 87 47 , , PUNCT taxlaw-2807 87 48 at at ADP taxlaw-2807 87 49 95 95 NUM taxlaw-2807 87 50 . . PUNCT taxlaw-2807 88 1 15 15 NUM taxlaw-2807 88 2 see see VERB taxlaw-2807 88 3 ilan ilan PROPN taxlaw-2807 88 4 benshalom benshalom PROPN taxlaw-2807 88 5 & & CCONJ taxlaw-2807 88 6 kendra kendra PROPN taxlaw-2807 88 7 stead stead PROPN taxlaw-2807 88 8 , , PUNCT taxlaw-2807 88 9 values value NOUN taxlaw-2807 88 10 and and CCONJ taxlaw-2807 88 11 ( ( PUNCT taxlaw-2807 88 12 market market NOUN taxlaw-2807 88 13 ) ) PUNCT taxlaw-2807 88 14 valuations valuation NOUN taxlaw-2807 88 15 : : PUNCT taxlaw-2807 88 16 a a DET taxlaw-2807 88 17 critique critique NOUN taxlaw-2807 88 18 of of ADP taxlaw-2807 88 19 the the DET taxlaw-2807 88 20 endowment endowment PROPN taxlaw-2807 88 21 tax tax NOUN taxlaw-2807 88 22 consensus consensus NOUN taxlaw-2807 88 23 , , PUNCT taxlaw-2807 88 24 104 104 NUM taxlaw-2807 88 25 nw nw PROPN taxlaw-2807 88 26 . . PUNCT taxlaw-2807 88 27 u. u. PROPN taxlaw-2807 88 28 l. l. PROPN taxlaw-2807 88 29 rev rev PROPN taxlaw-2807 88 30 . . PROPN taxlaw-2807 88 31 1511 1511 NUM taxlaw-2807 88 32 ( ( PUNCT taxlaw-2807 88 33 2011 2011 NUM taxlaw-2807 88 34 ) ) PUNCT taxlaw-2807 88 35 . . PUNCT taxlaw-2807 89 1 16 16 NUM taxlaw-2807 89 2 see see VERB taxlaw-2807 89 3 supra supra PROPN taxlaw-2807 89 4 note note PROPN taxlaw-2807 89 5 1 1 NUM taxlaw-2807 89 6 . . X taxlaw-2807 89 7 for for ADP taxlaw-2807 89 8 a a DET taxlaw-2807 89 9 comprehensive comprehensive ADJ taxlaw-2807 89 10 analysis analysis NOUN taxlaw-2807 89 11 of of ADP taxlaw-2807 89 12 this this DET taxlaw-2807 89 13 point point NOUN taxlaw-2807 89 14 , , PUNCT taxlaw-2807 89 15 see see VERB taxlaw-2807 89 16 part part NOUN taxlaw-2807 89 17 i.a i.a PROPN taxlaw-2807 89 18 . . PROPN taxlaw-2807 89 19 17 17 NUM taxlaw-2807 89 20 this this PRON taxlaw-2807 89 21 is be AUX taxlaw-2807 89 22 true true ADJ taxlaw-2807 89 23 even even ADV taxlaw-2807 89 24 if if SCONJ taxlaw-2807 89 25 the the DET taxlaw-2807 89 26 market market NOUN taxlaw-2807 89 27 value value NOUN taxlaw-2807 89 28 of of ADP taxlaw-2807 89 29 family family NOUN taxlaw-2807 89 30 albums album NOUN taxlaw-2807 89 31 ( ( PUNCT taxlaw-2807 89 32 and and CCONJ taxlaw-2807 89 33 other other ADJ taxlaw-2807 89 34 personal personal ADJ taxlaw-2807 89 35 assets asset NOUN taxlaw-2807 89 36 ) ) PUNCT taxlaw-2807 89 37 owned own VERB taxlaw-2807 89 38 by by ADP taxlaw-2807 89 39 high high ADJ taxlaw-2807 89 40 net net ADJ taxlaw-2807 89 41 worth worth ADJ taxlaw-2807 89 42 individuals individual NOUN taxlaw-2807 89 43 may may AUX taxlaw-2807 89 44 be be AUX taxlaw-2807 89 45 greater great ADJ taxlaw-2807 89 46 than than ADP taxlaw-2807 89 47 the the DET taxlaw-2807 89 48 value value NOUN taxlaw-2807 89 49 of of ADP taxlaw-2807 89 50 albums album NOUN taxlaw-2807 89 51 owned own VERB taxlaw-2807 89 52 by by ADP taxlaw-2807 89 53 most most ADJ taxlaw-2807 89 54 taxpayers taxpayer NOUN taxlaw-2807 89 55 . . PUNCT taxlaw-2807 90 1 see see VERB taxlaw-2807 90 2 infra infra NOUN taxlaw-2807 90 3 part part NOUN taxlaw-2807 90 4 iii.c iii.c NOUN taxlaw-2807 90 5 – – PUNCT taxlaw-2807 90 6 d. d. PROPN taxlaw-2807 90 7 48 48 NUM taxlaw-2807 90 8 columbia columbia PROPN taxlaw-2807 90 9 journal journal PROPN taxlaw-2807 90 10 of of ADP taxlaw-2807 90 11 tax tax NOUN taxlaw-2807 90 12 law law NOUN taxlaw-2807 91 1 [ [ X taxlaw-2807 91 2 vol.3:43 vol.3:43 X taxlaw-2807 91 3 granting grant VERB taxlaw-2807 91 4 a a DET taxlaw-2807 91 5 tax tax NOUN taxlaw-2807 91 6 benefit benefit NOUN taxlaw-2807 91 7 to to ADP taxlaw-2807 91 8 personal personal ADJ taxlaw-2807 91 9 assets asset NOUN taxlaw-2807 91 10 requires require VERB taxlaw-2807 91 11 imposing impose VERB taxlaw-2807 91 12 higher high ADJ taxlaw-2807 91 13 effective effective ADJ taxlaw-2807 91 14 tax tax NOUN taxlaw-2807 91 15 rates rate NOUN taxlaw-2807 91 16 on on ADP taxlaw-2807 91 17 other other ADJ taxlaw-2807 91 18 assets asset NOUN taxlaw-2807 91 19 — — PUNCT taxlaw-2807 91 20 namely namely ADV taxlaw-2807 91 21 , , PUNCT taxlaw-2807 91 22 investment investment NOUN taxlaw-2807 91 23 capital capital NOUN taxlaw-2807 91 24 assets asset NOUN taxlaw-2807 91 25 . . PUNCT taxlaw-2807 92 1 hence hence ADV taxlaw-2807 92 2 , , PUNCT taxlaw-2807 92 3 if if SCONJ taxlaw-2807 92 4 the the DET taxlaw-2807 92 5 tax tax NOUN taxlaw-2807 92 6 system system NOUN taxlaw-2807 92 7 shifts shift NOUN taxlaw-2807 92 8 to to ADP taxlaw-2807 92 9 taxing tax VERB taxlaw-2807 92 10 personal personal ADJ taxlaw-2807 92 11 assets asset NOUN taxlaw-2807 92 12 upon upon SCONJ taxlaw-2807 92 13 realization realization NOUN taxlaw-2807 92 14 and and CCONJ taxlaw-2807 92 15 non non ADJ taxlaw-2807 92 16 - - ADJ taxlaw-2807 92 17 personal personal ADJ taxlaw-2807 92 18 investment investment NOUN taxlaw-2807 92 19 assets asset NOUN taxlaw-2807 92 20 upon upon SCONJ taxlaw-2807 92 21 market market NOUN taxlaw-2807 92 22 - - PUNCT taxlaw-2807 92 23 price price NOUN taxlaw-2807 92 24 fluctuation fluctuation NOUN taxlaw-2807 92 25 , , PUNCT taxlaw-2807 92 26 the the DET taxlaw-2807 92 27 system system NOUN taxlaw-2807 92 28 would would AUX taxlaw-2807 92 29 become become VERB taxlaw-2807 92 30 more more ADV taxlaw-2807 92 31 progressive progressive ADJ taxlaw-2807 92 32 . . PUNCT taxlaw-2807 93 1 this this PRON taxlaw-2807 93 2 is be AUX taxlaw-2807 93 3 because because SCONJ taxlaw-2807 93 4 data datum NOUN taxlaw-2807 93 5 about about ADP taxlaw-2807 93 6 the the DET taxlaw-2807 93 7 distribution distribution NOUN taxlaw-2807 93 8 of of ADP taxlaw-2807 93 9 assets asset NOUN taxlaw-2807 93 10 strongly strongly ADV taxlaw-2807 93 11 suggests suggest VERB taxlaw-2807 93 12 that that SCONJ taxlaw-2807 93 13 personal personal ADJ taxlaw-2807 93 14 assets asset NOUN taxlaw-2807 93 15 comprise comprise VERB taxlaw-2807 93 16 most most ADJ taxlaw-2807 93 17 of of ADP taxlaw-2807 93 18 low low ADJ taxlaw-2807 93 19 and and CCONJ taxlaw-2807 93 20 medium medium ADJ taxlaw-2807 93 21 income income NOUN taxlaw-2807 93 22 households household NOUN taxlaw-2807 93 23 ’ ' PUNCT taxlaw-2807 93 24 assets asset NOUN taxlaw-2807 93 25 while while SCONJ taxlaw-2807 93 26 investment investment NOUN taxlaw-2807 93 27 and and CCONJ taxlaw-2807 93 28 capital capital NOUN taxlaw-2807 93 29 assets asset NOUN taxlaw-2807 93 30 are be AUX taxlaw-2807 93 31 disproportionately disproportionately ADV taxlaw-2807 93 32 owned own VERB taxlaw-2807 93 33 by by ADP taxlaw-2807 93 34 affluent affluent ADJ taxlaw-2807 93 35 taxpayers.18 taxpayers.18 NOUN taxlaw-2807 93 36 by by ADP taxlaw-2807 93 37 addressing address VERB taxlaw-2807 93 38 realization realization NOUN taxlaw-2807 93 39 as as ADP taxlaw-2807 93 40 a a DET taxlaw-2807 93 41 question question NOUN taxlaw-2807 93 42 of of ADP taxlaw-2807 93 43 distributive distributive ADJ taxlaw-2807 93 44 justice justice NOUN taxlaw-2807 93 45 , , PUNCT taxlaw-2807 93 46 this this DET taxlaw-2807 93 47 article article NOUN taxlaw-2807 93 48 connects connect VERB taxlaw-2807 93 49 existing exist VERB taxlaw-2807 93 50 tax tax NOUN taxlaw-2807 93 51 practices practice NOUN taxlaw-2807 93 52 to to ADP taxlaw-2807 93 53 the the DET taxlaw-2807 93 54 theoretical theoretical ADJ taxlaw-2807 93 55 bases basis NOUN taxlaw-2807 93 56 of of ADP taxlaw-2807 93 57 redistribution redistribution NOUN taxlaw-2807 93 58 : : PUNCT taxlaw-2807 93 59 the the DET taxlaw-2807 93 60 questions question NOUN taxlaw-2807 93 61 of of ADP taxlaw-2807 93 62 what what PRON taxlaw-2807 93 63 policymakers policymaker NOUN taxlaw-2807 93 64 should should AUX taxlaw-2807 93 65 seek seek VERB taxlaw-2807 93 66 to to PART taxlaw-2807 93 67 redistribute redistribute VERB taxlaw-2807 93 68 and and CCONJ taxlaw-2807 93 69 how how SCONJ taxlaw-2807 93 70 they they PRON taxlaw-2807 93 71 should should AUX taxlaw-2807 93 72 best well ADV taxlaw-2807 93 73 measure measure VERB taxlaw-2807 93 74 it it PRON taxlaw-2807 93 75 . . PUNCT taxlaw-2807 94 1 it it PRON taxlaw-2807 94 2 is be AUX taxlaw-2807 94 3 worth worth ADJ taxlaw-2807 94 4 emphasizing emphasize VERB taxlaw-2807 94 5 the the DET taxlaw-2807 94 6 difference difference NOUN taxlaw-2807 94 7 between between ADP taxlaw-2807 94 8 our our PRON taxlaw-2807 94 9 approach approach NOUN taxlaw-2807 94 10 and and CCONJ taxlaw-2807 94 11 the the DET taxlaw-2807 94 12 more more ADV taxlaw-2807 94 13 canonic canonic ADJ taxlaw-2807 94 14 arguments argument NOUN taxlaw-2807 94 15 with with ADP taxlaw-2807 94 16 respect respect NOUN taxlaw-2807 94 17 to to ADP taxlaw-2807 94 18 realization realization NOUN taxlaw-2807 94 19 . . PUNCT taxlaw-2807 95 1 the the DET taxlaw-2807 95 2 bulk bulk NOUN taxlaw-2807 95 3 of of ADP taxlaw-2807 95 4 the the DET taxlaw-2807 95 5 literature literature NOUN taxlaw-2807 95 6 focuses focus VERB taxlaw-2807 95 7 on on ADP taxlaw-2807 95 8 the the DET taxlaw-2807 95 9 difficulty difficulty NOUN taxlaw-2807 95 10 of of ADP taxlaw-2807 95 11 determining determine VERB taxlaw-2807 95 12 the the DET taxlaw-2807 95 13 market market NOUN taxlaw-2807 95 14 value value NOUN taxlaw-2807 95 15 of of ADP taxlaw-2807 95 16 illiquid illiquid ADJ taxlaw-2807 95 17 assets asset NOUN taxlaw-2807 95 18 and and CCONJ taxlaw-2807 95 19 describes describe VERB taxlaw-2807 95 20 the the DET taxlaw-2807 95 21 arbitrary arbitrary ADJ taxlaw-2807 95 22 tax tax NOUN taxlaw-2807 95 23 assessments assessment NOUN taxlaw-2807 95 24 that that PRON taxlaw-2807 95 25 would would AUX taxlaw-2807 95 26 result result VERB taxlaw-2807 95 27 from from ADP taxlaw-2807 95 28 valuation valuation NOUN taxlaw-2807 95 29 error error NOUN taxlaw-2807 95 30 . . PUNCT taxlaw-2807 96 1 this this DET taxlaw-2807 96 2 article article NOUN taxlaw-2807 96 3 makes make VERB taxlaw-2807 96 4 the the DET taxlaw-2807 96 5 point point NOUN taxlaw-2807 96 6 that that SCONJ taxlaw-2807 96 7 the the DET taxlaw-2807 96 8 problem problem NOUN taxlaw-2807 96 9 of of ADP taxlaw-2807 96 10 assessment assessment NOUN taxlaw-2807 96 11 errors error NOUN taxlaw-2807 96 12 would would AUX taxlaw-2807 96 13 still still ADV taxlaw-2807 96 14 be be AUX taxlaw-2807 96 15 relevant relevant ADJ taxlaw-2807 96 16 with with ADP taxlaw-2807 96 17 respect respect NOUN taxlaw-2807 96 18 to to ADP taxlaw-2807 96 19 personal personal ADJ taxlaw-2807 96 20 assets asset NOUN taxlaw-2807 96 21 even even ADV taxlaw-2807 96 22 if if SCONJ taxlaw-2807 96 23 all all DET taxlaw-2807 96 24 assets asset NOUN taxlaw-2807 96 25 had have VERB taxlaw-2807 96 26 a a DET taxlaw-2807 96 27 verifiable verifiable ADJ taxlaw-2807 96 28 market market NOUN taxlaw-2807 96 29 price price NOUN taxlaw-2807 96 30 . . PUNCT taxlaw-2807 97 1 we we PRON taxlaw-2807 97 2 are be AUX taxlaw-2807 97 3 concerned concerned ADJ taxlaw-2807 97 4 less less ADV taxlaw-2807 97 5 with with ADP taxlaw-2807 97 6 the the DET taxlaw-2807 97 7 consequences consequence NOUN taxlaw-2807 97 8 of of ADP taxlaw-2807 97 9 inaccurate inaccurate ADJ taxlaw-2807 97 10 tax tax NOUN taxlaw-2807 97 11 assessments assessment NOUN taxlaw-2807 97 12 and and CCONJ taxlaw-2807 97 13 more more ADJ taxlaw-2807 97 14 with with ADP taxlaw-2807 97 15 how how SCONJ taxlaw-2807 97 16 different different ADJ taxlaw-2807 97 17 types type NOUN taxlaw-2807 97 18 of of ADP taxlaw-2807 97 19 inaccuracies inaccuracy NOUN taxlaw-2807 97 20 impact impact NOUN taxlaw-2807 97 21 distribution distribution NOUN taxlaw-2807 97 22 . . PUNCT taxlaw-2807 98 1 accordingly accordingly ADV taxlaw-2807 98 2 , , PUNCT taxlaw-2807 98 3 the the DET taxlaw-2807 98 4 article article NOUN taxlaw-2807 98 5 highlights highlight VERB taxlaw-2807 98 6 a a DET taxlaw-2807 98 7 consequence consequence NOUN taxlaw-2807 98 8 of of ADP taxlaw-2807 98 9 errors error NOUN taxlaw-2807 98 10 that that PRON taxlaw-2807 98 11 has have AUX taxlaw-2807 98 12 not not PART taxlaw-2807 98 13 yet yet ADV taxlaw-2807 98 14 been be AUX taxlaw-2807 98 15 addressed address VERB taxlaw-2807 98 16 . . PUNCT taxlaw-2807 99 1 we we PRON taxlaw-2807 99 2 contend contend VERB taxlaw-2807 99 3 that that SCONJ taxlaw-2807 99 4 even even ADV taxlaw-2807 99 5 if if SCONJ taxlaw-2807 99 6 we we PRON taxlaw-2807 99 7 had have VERB taxlaw-2807 99 8 efficient efficient ADJ taxlaw-2807 99 9 markets market NOUN taxlaw-2807 99 10 for for ADP taxlaw-2807 99 11 all all DET taxlaw-2807 99 12 assets asset NOUN taxlaw-2807 99 13 , , PUNCT taxlaw-2807 99 14 this this DET taxlaw-2807 99 15 improved improved ADJ taxlaw-2807 99 16 accuracy accuracy NOUN taxlaw-2807 99 17 would would AUX taxlaw-2807 99 18 not not PART taxlaw-2807 99 19 be be AUX taxlaw-2807 99 20 free free ADJ taxlaw-2807 99 21 of of ADP taxlaw-2807 99 22 errors error NOUN taxlaw-2807 99 23 . . PUNCT taxlaw-2807 100 1 including include VERB taxlaw-2807 100 2 personal personal ADJ taxlaw-2807 100 3 assets asset NOUN taxlaw-2807 100 4 within within ADP taxlaw-2807 100 5 the the DET taxlaw-2807 100 6 income income NOUN taxlaw-2807 100 7 tax tax NOUN taxlaw-2807 100 8 base base NOUN taxlaw-2807 100 9 would would AUX taxlaw-2807 100 10 decrease decrease VERB taxlaw-2807 100 11 mistakes mistake NOUN taxlaw-2807 100 12 with with ADP taxlaw-2807 100 13 respect respect NOUN taxlaw-2807 100 14 to to ADP taxlaw-2807 100 15 the the DET taxlaw-2807 100 16 market market NOUN taxlaw-2807 100 17 price price NOUN taxlaw-2807 100 18 valuations valuation NOUN taxlaw-2807 100 19 , , PUNCT taxlaw-2807 100 20 but but CCONJ taxlaw-2807 100 21 increase increase VERB taxlaw-2807 100 22 the the DET taxlaw-2807 100 23 probability probability NOUN taxlaw-2807 100 24 of of ADP taxlaw-2807 100 25 error error NOUN taxlaw-2807 100 26 with with ADP taxlaw-2807 100 27 respect respect NOUN taxlaw-2807 100 28 to to ADP taxlaw-2807 100 29 the the DET taxlaw-2807 100 30 subjective subjective ADJ taxlaw-2807 100 31 value value NOUN taxlaw-2807 100 32 taxpayers taxpayer NOUN taxlaw-2807 100 33 attach attach VERB taxlaw-2807 100 34 to to ADP taxlaw-2807 100 35 different different ADJ taxlaw-2807 100 36 assets asset NOUN taxlaw-2807 100 37 . . PUNCT taxlaw-2807 101 1 19 19 NUM taxlaw-2807 101 2 the the DET taxlaw-2807 101 3 increased increase VERB taxlaw-2807 101 4 probability probability NOUN taxlaw-2807 101 5 of of ADP taxlaw-2807 101 6 that that DET taxlaw-2807 101 7 type type NOUN taxlaw-2807 101 8 of of ADP taxlaw-2807 101 9 error error NOUN taxlaw-2807 101 10 would would AUX taxlaw-2807 101 11 not not PART taxlaw-2807 101 12 be be AUX taxlaw-2807 101 13 distributionally distributionally ADV taxlaw-2807 101 14 neutral neutral ADJ taxlaw-2807 101 15 , , PUNCT taxlaw-2807 101 16 increasing increase VERB taxlaw-2807 101 17 the the DET taxlaw-2807 101 18 relative relative ADJ taxlaw-2807 101 19 tax tax NOUN taxlaw-2807 101 20 burden burden NOUN taxlaw-2807 101 21 on on ADP taxlaw-2807 101 22 low low ADJ taxlaw-2807 101 23 and and CCONJ taxlaw-2807 101 24 middle middle ADJ taxlaw-2807 101 25 income income NOUN taxlaw-2807 101 26 taxpayers taxpayer NOUN taxlaw-2807 101 27 . . PUNCT taxlaw-2807 102 1 this this DET taxlaw-2807 102 2 analysis analysis NOUN taxlaw-2807 102 3 leads lead VERB taxlaw-2807 102 4 to to ADP taxlaw-2807 102 5 the the DET taxlaw-2807 102 6 conclusion conclusion NOUN taxlaw-2807 102 7 that that SCONJ taxlaw-2807 102 8 realization realization NOUN taxlaw-2807 102 9 may may AUX taxlaw-2807 102 10 be be AUX taxlaw-2807 102 11 justified justify VERB taxlaw-2807 102 12 with with ADP taxlaw-2807 102 13 respect respect NOUN taxlaw-2807 102 14 to to ADP taxlaw-2807 102 15 personal personal ADJ taxlaw-2807 102 16 assets asset NOUN taxlaw-2807 102 17 but but CCONJ taxlaw-2807 102 18 not not PART taxlaw-2807 102 19 with with ADP taxlaw-2807 102 20 respect respect NOUN taxlaw-2807 102 21 to to ADP taxlaw-2807 102 22 investment investment NOUN taxlaw-2807 102 23 assets asset NOUN taxlaw-2807 102 24 . . PUNCT taxlaw-2807 103 1 the the DET taxlaw-2807 103 2 implication implication NOUN taxlaw-2807 103 3 of of ADP taxlaw-2807 103 4 this this DET taxlaw-2807 103 5 conclusion conclusion NOUN taxlaw-2807 103 6 is be AUX taxlaw-2807 103 7 that that SCONJ taxlaw-2807 103 8 policymakers policymaker NOUN taxlaw-2807 103 9 should should AUX taxlaw-2807 103 10 consider consider VERB taxlaw-2807 103 11 applying apply VERB taxlaw-2807 103 12 the the DET taxlaw-2807 103 13 requirement requirement NOUN taxlaw-2807 103 14 very very ADV taxlaw-2807 103 15 differently differently ADV taxlaw-2807 103 16 by by ADP taxlaw-2807 103 17 taxing tax VERB taxlaw-2807 103 18 investment investment NOUN taxlaw-2807 103 19 assets asset NOUN taxlaw-2807 103 20 as as SCONJ taxlaw-2807 103 21 they they PRON taxlaw-2807 103 22 appreciate appreciate VERB taxlaw-2807 103 23 or or CCONJ taxlaw-2807 103 24 depreciate depreciate VERB taxlaw-2807 103 25 in in ADP taxlaw-2807 103 26 value value NOUN taxlaw-2807 103 27 rather rather ADV taxlaw-2807 103 28 than than ADP taxlaw-2807 103 29 when when SCONJ taxlaw-2807 103 30 they they PRON taxlaw-2807 103 31 are be AUX taxlaw-2807 103 32 sold sell VERB taxlaw-2807 103 33 . . PUNCT taxlaw-2807 104 1 such such DET taxlaw-2807 104 2 a a DET taxlaw-2807 104 3 reform reform NOUN taxlaw-2807 104 4 would would AUX taxlaw-2807 104 5 significantly significantly ADV taxlaw-2807 104 6 reduce reduce VERB taxlaw-2807 104 7 the the DET taxlaw-2807 104 8 income income NOUN taxlaw-2807 104 9 tax tax NOUN taxlaw-2807 104 10 ’s ’s PART taxlaw-2807 104 11 current current ADJ taxlaw-2807 104 12 problems problem NOUN taxlaw-2807 104 13 by by ADP taxlaw-2807 104 14 making make VERB taxlaw-2807 104 15 it it PRON taxlaw-2807 104 16 less less ADV taxlaw-2807 104 17 distortive distortive ADJ taxlaw-2807 104 18 , , PUNCT taxlaw-2807 104 19 more more ADV taxlaw-2807 104 20 consistent consistent ADJ taxlaw-2807 104 21 , , PUNCT taxlaw-2807 104 22 and and CCONJ taxlaw-2807 104 23 more more ADV taxlaw-2807 104 24 equitable equitable ADJ taxlaw-2807 104 25 . . PUNCT taxlaw-2807 105 1 this this DET taxlaw-2807 105 2 article article NOUN taxlaw-2807 105 3 explains explain VERB taxlaw-2807 105 4 why why SCONJ taxlaw-2807 105 5 such such DET taxlaw-2807 105 6 a a DET taxlaw-2807 105 7 system system NOUN taxlaw-2807 105 8 would would AUX taxlaw-2807 105 9 not not PART taxlaw-2807 105 10 be be AUX taxlaw-2807 105 11 any any PRON taxlaw-2807 105 12 more more ADV taxlaw-2807 105 13 difficult difficult ADJ taxlaw-2807 105 14 to to PART taxlaw-2807 105 15 maintain maintain VERB taxlaw-2807 105 16 than than ADP taxlaw-2807 105 17 the the DET taxlaw-2807 105 18 current current ADJ taxlaw-2807 105 19 tax tax NOUN taxlaw-2807 105 20 regime regime NOUN taxlaw-2807 105 21 , , PUNCT taxlaw-2807 105 22 which which PRON taxlaw-2807 105 23 also also ADV taxlaw-2807 105 24 applies apply VERB taxlaw-2807 105 25 special special ADJ taxlaw-2807 105 26 rules rule NOUN taxlaw-2807 105 27 to to ADP taxlaw-2807 105 28 investment investment NOUN taxlaw-2807 105 29 assets asset NOUN taxlaw-2807 105 30 . . PUNCT taxlaw-2807 106 1 hence hence ADV taxlaw-2807 106 2 , , PUNCT taxlaw-2807 106 3 while while SCONJ taxlaw-2807 106 4 our our PRON taxlaw-2807 106 5 proposal proposal NOUN taxlaw-2807 106 6 raises raise VERB taxlaw-2807 106 7 some some DET taxlaw-2807 106 8 concerns concern NOUN taxlaw-2807 106 9 , , PUNCT taxlaw-2807 106 10 it it PRON taxlaw-2807 106 11 also also ADV taxlaw-2807 106 12 offers offer VERB taxlaw-2807 106 13 an an DET taxlaw-2807 106 14 administratively administratively ADJ taxlaw-2807 106 15 and and CCONJ taxlaw-2807 106 16 politically politically ADV taxlaw-2807 106 17 plausible plausible ADJ taxlaw-2807 106 18 alternative alternative NOUN taxlaw-2807 106 19 that that PRON taxlaw-2807 106 20 could could AUX taxlaw-2807 106 21 be be AUX taxlaw-2807 106 22 used use VERB taxlaw-2807 106 23 to to PART taxlaw-2807 106 24 maintain maintain VERB taxlaw-2807 106 25 the the DET taxlaw-2807 106 26 income income NOUN taxlaw-2807 106 27 tax tax NOUN taxlaw-2807 106 28 as as ADP taxlaw-2807 106 29 an an DET taxlaw-2807 106 30 effective effective ADJ taxlaw-2807 106 31 wealth wealth NOUN taxlaw-2807 106 32 redistribution redistribution NOUN taxlaw-2807 106 33 tool tool NOUN taxlaw-2807 106 34 . . PUNCT taxlaw-2807 107 1 before before ADP taxlaw-2807 107 2 launching launch VERB taxlaw-2807 107 3 into into ADP taxlaw-2807 107 4 a a DET taxlaw-2807 107 5 full full ADJ taxlaw-2807 107 6 discussion discussion NOUN taxlaw-2807 107 7 of of ADP taxlaw-2807 107 8 realization realization NOUN taxlaw-2807 107 9 , , PUNCT taxlaw-2807 107 10 we we PRON taxlaw-2807 107 11 provide provide VERB taxlaw-2807 107 12 a a DET taxlaw-2807 107 13 brief brief ADJ taxlaw-2807 107 14 overview overview NOUN taxlaw-2807 107 15 of of ADP taxlaw-2807 107 16 the the DET taxlaw-2807 107 17 broad broad ADJ taxlaw-2807 107 18 issues issue NOUN taxlaw-2807 107 19 reached reach VERB taxlaw-2807 107 20 in in ADP taxlaw-2807 107 21 this this DET taxlaw-2807 107 22 article article NOUN taxlaw-2807 107 23 . . PUNCT taxlaw-2807 108 1 part part NOUN taxlaw-2807 108 2 i i PRON taxlaw-2807 108 3 describes describe VERB taxlaw-2807 108 4 the the DET taxlaw-2807 108 5 function function NOUN taxlaw-2807 108 6 and and CCONJ taxlaw-2807 108 7 impact impact NOUN taxlaw-2807 108 8 of of ADP taxlaw-2807 108 9 the the DET taxlaw-2807 108 10 realization realization NOUN taxlaw-2807 108 11 requirement requirement NOUN taxlaw-2807 108 12 , , PUNCT taxlaw-2807 108 13 explains explain VERB taxlaw-2807 108 14 why why SCONJ taxlaw-2807 108 15 it it PRON taxlaw-2807 108 16 is be AUX taxlaw-2807 108 17 the the DET taxlaw-2807 108 18 major major ADJ taxlaw-2807 108 19 source source NOUN taxlaw-2807 108 20 of of ADP taxlaw-2807 108 21 income income NOUN taxlaw-2807 108 22 tax tax NOUN taxlaw-2807 108 23 difficulties difficulty NOUN taxlaw-2807 108 24 , , PUNCT taxlaw-2807 108 25 and and CCONJ taxlaw-2807 108 26 clarifies clarify VERB taxlaw-2807 108 27 why why SCONJ taxlaw-2807 108 28 it it PRON taxlaw-2807 108 29 is be AUX taxlaw-2807 108 30 viewed view VERB taxlaw-2807 108 31 as as ADP taxlaw-2807 108 32 solely solely ADV taxlaw-2807 108 33 the the DET taxlaw-2807 108 34 byproduct byproduct NOUN taxlaw-2807 108 35 of of ADP taxlaw-2807 108 36 tax tax NOUN taxlaw-2807 108 37 administrative administrative ADJ taxlaw-2807 108 38 constraints constraint NOUN taxlaw-2807 108 39 . . PUNCT taxlaw-2807 109 1 part part PROPN taxlaw-2807 109 2 ii ii PROPN taxlaw-2807 109 3 explores explore VERB taxlaw-2807 109 4 the the DET taxlaw-2807 109 5 academic academic ADJ taxlaw-2807 109 6 literature literature NOUN taxlaw-2807 109 7 with with ADP taxlaw-2807 109 8 respect respect NOUN taxlaw-2807 109 9 to to ADP taxlaw-2807 109 10 realization realization NOUN taxlaw-2807 109 11 . . PUNCT taxlaw-2807 110 1 it it PRON taxlaw-2807 110 2 shows show VERB taxlaw-2807 110 3 that that SCONJ taxlaw-2807 110 4 all all DET taxlaw-2807 110 5 leading lead VERB taxlaw-2807 110 6 approaches approach NOUN taxlaw-2807 110 7 are be AUX taxlaw-2807 110 8 similarly similarly ADV taxlaw-2807 110 9 incomplete incomplete ADJ taxlaw-2807 110 10 because because SCONJ taxlaw-2807 110 11 all all PRON taxlaw-2807 110 12 view view VERB taxlaw-2807 110 13 realization realization NOUN taxlaw-2807 110 14 only only ADV taxlaw-2807 110 15 as as ADP taxlaw-2807 110 16 a a DET taxlaw-2807 110 17 18 18 NUM taxlaw-2807 110 18 see see NOUN taxlaw-2807 110 19 infra infra NOUN taxlaw-2807 110 20 appendix appendix NOUN taxlaw-2807 110 21 and and CCONJ taxlaw-2807 110 22 notes note NOUN taxlaw-2807 110 23 46 46 NUM taxlaw-2807 110 24 , , PUNCT taxlaw-2807 110 25 114 114 NUM taxlaw-2807 110 26 . . NOUN taxlaw-2807 110 27 19 19 NUM taxlaw-2807 110 28 in in ADP taxlaw-2807 110 29 other other ADJ taxlaw-2807 110 30 words word NOUN taxlaw-2807 110 31 , , PUNCT taxlaw-2807 110 32 this this PRON taxlaw-2807 110 33 suggests suggest VERB taxlaw-2807 110 34 that that SCONJ taxlaw-2807 110 35 market market NOUN taxlaw-2807 110 36 price price NOUN taxlaw-2807 110 37 is be AUX taxlaw-2807 110 38 a a DET taxlaw-2807 110 39 tool tool NOUN taxlaw-2807 110 40 — — PUNCT taxlaw-2807 110 41 a a DET taxlaw-2807 110 42 proxy proxy NOUN taxlaw-2807 110 43 — — PUNCT taxlaw-2807 110 44 for for ADP taxlaw-2807 110 45 getting get VERB taxlaw-2807 110 46 at at ADP taxlaw-2807 110 47 individuals individual NOUN taxlaw-2807 110 48 ’ ' PUNCT taxlaw-2807 110 49 economic economic ADJ taxlaw-2807 110 50 well well ADV taxlaw-2807 110 51 - - PUNCT taxlaw-2807 110 52 being being NOUN taxlaw-2807 110 53 . . PUNCT taxlaw-2807 111 1 however however ADV taxlaw-2807 111 2 , , PUNCT taxlaw-2807 111 3 as as ADP taxlaw-2807 111 4 a a DET taxlaw-2807 111 5 proxy proxy NOUN taxlaw-2807 111 6 it it PRON taxlaw-2807 111 7 should should AUX taxlaw-2807 111 8 only only ADV taxlaw-2807 111 9 be be AUX taxlaw-2807 111 10 used use VERB taxlaw-2807 111 11 when when SCONJ taxlaw-2807 111 12 there there PRON taxlaw-2807 111 13 are be VERB taxlaw-2807 111 14 good good ADJ taxlaw-2807 111 15 reasons reason NOUN taxlaw-2807 111 16 to to PART taxlaw-2807 111 17 believe believe VERB taxlaw-2807 111 18 it it PRON taxlaw-2807 111 19 correlates correlate VERB taxlaw-2807 111 20 well well ADV taxlaw-2807 111 21 with with ADP taxlaw-2807 111 22 well well ADV taxlaw-2807 111 23 - - PUNCT taxlaw-2807 111 24 being being NOUN taxlaw-2807 111 25 . . PUNCT taxlaw-2807 112 1 2011 2011 NUM taxlaw-2807 112 2 ] ] PUNCT taxlaw-2807 112 3 realization realization NOUN taxlaw-2807 112 4 and and CCONJ taxlaw-2807 112 5 progressivity progressivity NOUN taxlaw-2807 112 6 49 49 NUM taxlaw-2807 112 7 necessary necessary ADJ taxlaw-2807 112 8 evil evil NOUN taxlaw-2807 112 9 . . PUNCT taxlaw-2807 113 1 it it PRON taxlaw-2807 113 2 then then ADV taxlaw-2807 113 3 argues argue VERB taxlaw-2807 113 4 that that SCONJ taxlaw-2807 113 5 no no DET taxlaw-2807 113 6 reasonable reasonable ADJ taxlaw-2807 113 7 income income NOUN taxlaw-2807 113 8 tax tax NOUN taxlaw-2807 113 9 regime regime NOUN taxlaw-2807 113 10 can can AUX taxlaw-2807 113 11 be be AUX taxlaw-2807 113 12 devised devise VERB taxlaw-2807 113 13 without without ADP taxlaw-2807 113 14 understanding understand VERB taxlaw-2807 113 15 that that DET taxlaw-2807 113 16 realization realization NOUN taxlaw-2807 113 17 can can AUX taxlaw-2807 113 18 be be AUX taxlaw-2807 113 19 justified justify VERB taxlaw-2807 113 20 in in ADP taxlaw-2807 113 21 its its PRON taxlaw-2807 113 22 own own ADJ taxlaw-2807 113 23 right right NOUN taxlaw-2807 113 24 . . PUNCT taxlaw-2807 114 1 parts part NOUN taxlaw-2807 114 2 iii iii PROPN taxlaw-2807 114 3 and and CCONJ taxlaw-2807 114 4 iv iv NUM taxlaw-2807 114 5 develop develop VERB taxlaw-2807 114 6 this this DET taxlaw-2807 114 7 article article NOUN taxlaw-2807 114 8 ’s ’s PART taxlaw-2807 114 9 analysis analysis NOUN taxlaw-2807 114 10 — — PUNCT taxlaw-2807 114 11 the the DET taxlaw-2807 114 12 former former ADJ taxlaw-2807 114 13 develops develop VERB taxlaw-2807 114 14 the the DET taxlaw-2807 114 15 normative normative ADJ taxlaw-2807 114 16 framework framework NOUN taxlaw-2807 114 17 , , PUNCT taxlaw-2807 114 18 and and CCONJ taxlaw-2807 114 19 the the DET taxlaw-2807 114 20 latter latter ADJ taxlaw-2807 114 21 extracts extract VERB taxlaw-2807 114 22 its its PRON taxlaw-2807 114 23 policy policy NOUN taxlaw-2807 114 24 implications implication NOUN taxlaw-2807 114 25 . . PUNCT taxlaw-2807 115 1 part part NOUN taxlaw-2807 115 2 iii iii NOUN taxlaw-2807 115 3 begins begin VERB taxlaw-2807 115 4 by by ADP taxlaw-2807 115 5 explaining explain VERB taxlaw-2807 115 6 the the DET taxlaw-2807 115 7 difficulty difficulty NOUN taxlaw-2807 115 8 of of ADP taxlaw-2807 115 9 making make VERB taxlaw-2807 115 10 interpersonal interpersonal ADJ taxlaw-2807 115 11 comparisons comparison NOUN taxlaw-2807 115 12 in in ADP taxlaw-2807 115 13 a a DET taxlaw-2807 115 14 redistributive redistributive ADJ taxlaw-2807 115 15 tax tax NOUN taxlaw-2807 115 16 regime regime NOUN taxlaw-2807 115 17 . . PUNCT taxlaw-2807 116 1 it it PRON taxlaw-2807 116 2 then then ADV taxlaw-2807 116 3 establishes establish VERB taxlaw-2807 116 4 two two NUM taxlaw-2807 116 5 normative normative ADJ taxlaw-2807 116 6 pillars pillar NOUN taxlaw-2807 116 7 of of ADP taxlaw-2807 116 8 realization realization NOUN taxlaw-2807 116 9 : : PUNCT taxlaw-2807 116 10 the the DET taxlaw-2807 116 11 particular particular ADJ taxlaw-2807 116 12 difficulty difficulty NOUN taxlaw-2807 116 13 of of ADP taxlaw-2807 116 14 making make VERB taxlaw-2807 116 15 interpersonal interpersonal ADJ taxlaw-2807 116 16 comparisons comparison NOUN taxlaw-2807 116 17 with with ADP taxlaw-2807 116 18 respect respect NOUN taxlaw-2807 116 19 to to ADP taxlaw-2807 116 20 personal personal ADJ taxlaw-2807 116 21 assets asset NOUN taxlaw-2807 116 22 and and CCONJ taxlaw-2807 116 23 the the DET taxlaw-2807 116 24 progressivity progressivity NOUN taxlaw-2807 116 25 gained gain VERB taxlaw-2807 116 26 by by ADP taxlaw-2807 116 27 taxing tax VERB taxlaw-2807 116 28 only only ADV taxlaw-2807 116 29 personal personal ADJ taxlaw-2807 116 30 assets asset NOUN taxlaw-2807 116 31 on on ADP taxlaw-2807 116 32 a a DET taxlaw-2807 116 33 realization realization NOUN taxlaw-2807 116 34 basis basis NOUN taxlaw-2807 116 35 . . PUNCT taxlaw-2807 117 1 it it PRON taxlaw-2807 117 2 ends end VERB taxlaw-2807 117 3 by by ADP taxlaw-2807 117 4 discussing discuss VERB taxlaw-2807 117 5 a a DET taxlaw-2807 117 6 possible possible ADJ taxlaw-2807 117 7 theoretical theoretical ADJ taxlaw-2807 117 8 criticism criticism NOUN taxlaw-2807 117 9 of of ADP taxlaw-2807 117 10 this this DET taxlaw-2807 117 11 article article NOUN taxlaw-2807 117 12 ’s ’s PART taxlaw-2807 117 13 proposal proposal NOUN taxlaw-2807 117 14 — — PUNCT taxlaw-2807 117 15 namely namely ADV taxlaw-2807 117 16 whether whether SCONJ taxlaw-2807 117 17 there there PRON taxlaw-2807 117 18 are be VERB taxlaw-2807 117 19 alternative alternative ADJ taxlaw-2807 117 20 ways way NOUN taxlaw-2807 117 21 to to PART taxlaw-2807 117 22 better well ADV taxlaw-2807 117 23 attain attain VERB taxlaw-2807 117 24 tax tax NOUN taxlaw-2807 117 25 progressivity progressivity NOUN taxlaw-2807 117 26 . . PUNCT taxlaw-2807 118 1 part part NOUN taxlaw-2807 118 2 iv iv NUM taxlaw-2807 118 3 explains explain VERB taxlaw-2807 118 4 the the DET taxlaw-2807 118 5 policy policy NOUN taxlaw-2807 118 6 reform reform NOUN taxlaw-2807 118 7 implications implication NOUN taxlaw-2807 118 8 of of ADP taxlaw-2807 118 9 this this DET taxlaw-2807 118 10 article article NOUN taxlaw-2807 118 11 ’s ’s PART taxlaw-2807 118 12 normative normative ADJ taxlaw-2807 118 13 analysis analysis NOUN taxlaw-2807 118 14 . . PUNCT taxlaw-2807 119 1 it it PRON taxlaw-2807 119 2 also also ADV taxlaw-2807 119 3 elaborates elaborate VERB taxlaw-2807 119 4 upon upon SCONJ taxlaw-2807 119 5 some some DET taxlaw-2807 119 6 empirical empirical ADJ taxlaw-2807 119 7 questions question NOUN taxlaw-2807 119 8 and and CCONJ taxlaw-2807 119 9 points point NOUN taxlaw-2807 119 10 to to ADP taxlaw-2807 119 11 some some DET taxlaw-2807 119 12 potential potential ADJ taxlaw-2807 119 13 avenues avenue NOUN taxlaw-2807 119 14 of of ADP taxlaw-2807 119 15 future future ADJ taxlaw-2807 119 16 research research NOUN taxlaw-2807 119 17 . . PUNCT taxlaw-2807 120 1 we we PRON taxlaw-2807 120 2 close close VERB taxlaw-2807 120 3 with with ADP taxlaw-2807 120 4 several several ADJ taxlaw-2807 120 5 brief brief ADJ taxlaw-2807 120 6 conclusions conclusion NOUN taxlaw-2807 120 7 that that PRON taxlaw-2807 120 8 highlight highlight VERB taxlaw-2807 120 9 this this DET taxlaw-2807 120 10 article article NOUN taxlaw-2807 120 11 ’s ’s PART taxlaw-2807 120 12 policy policy NOUN taxlaw-2807 120 13 and and CCONJ taxlaw-2807 120 14 theoretical theoretical ADJ taxlaw-2807 120 15 contributions contribution NOUN taxlaw-2807 120 16 . . PUNCT taxlaw-2807 121 1 i. i. NOUN taxlaw-2807 121 2 the the DET taxlaw-2807 121 3 realization realization NOUN taxlaw-2807 121 4 requirement requirement NOUN taxlaw-2807 121 5 — — PUNCT taxlaw-2807 121 6 costs cost NOUN taxlaw-2807 121 7 and and CCONJ taxlaw-2807 121 8 endurances endurance NOUN taxlaw-2807 121 9 of of ADP taxlaw-2807 121 10 an an DET taxlaw-2807 121 11 achilles achille NOUN taxlaw-2807 121 12 ’ ' PUNCT taxlaw-2807 121 13 heel heel VERB taxlaw-2807 121 14 the the DET taxlaw-2807 121 15 realization realization NOUN taxlaw-2807 121 16 requirement requirement NOUN taxlaw-2807 121 17 emerged emerge VERB taxlaw-2807 121 18 in in ADP taxlaw-2807 121 19 the the DET taxlaw-2807 121 20 early early ADJ taxlaw-2807 121 21 twentieth twentieth ADJ taxlaw-2807 121 22 century century NOUN taxlaw-2807 121 23 and and CCONJ taxlaw-2807 121 24 soon soon ADV taxlaw-2807 121 25 became become VERB taxlaw-2807 121 26 a a DET taxlaw-2807 121 27 foundational foundational ADJ taxlaw-2807 121 28 attribute attribute NOUN taxlaw-2807 121 29 of of ADP taxlaw-2807 121 30 all all DET taxlaw-2807 121 31 income income NOUN taxlaw-2807 121 32 tax tax NOUN taxlaw-2807 121 33 regimes.20 regimes.20 NOUN taxlaw-2807 121 34 in in ADP taxlaw-2807 121 35 the the DET taxlaw-2807 121 36 united united PROPN taxlaw-2807 121 37 states states PROPN taxlaw-2807 121 38 , , PUNCT taxlaw-2807 121 39 the the DET taxlaw-2807 121 40 requirement requirement NOUN taxlaw-2807 121 41 got get VERB taxlaw-2807 121 42 an an DET taxlaw-2807 121 43 early early ADJ taxlaw-2807 121 44 endorsement endorsement NOUN taxlaw-2807 121 45 from from ADP taxlaw-2807 121 46 the the DET taxlaw-2807 121 47 supreme supreme PROPN taxlaw-2807 121 48 court court PROPN taxlaw-2807 121 49 , , PUNCT taxlaw-2807 121 50 which which PRON taxlaw-2807 121 51 found find VERB taxlaw-2807 121 52 that that SCONJ taxlaw-2807 121 53 imposition imposition NOUN taxlaw-2807 121 54 of of ADP taxlaw-2807 121 55 the the DET taxlaw-2807 121 56 federal federal ADJ taxlaw-2807 121 57 income income NOUN taxlaw-2807 121 58 tax tax NOUN taxlaw-2807 121 59 was be AUX taxlaw-2807 121 60 constitutionally constitutionally ADV taxlaw-2807 121 61 limited limit VERB taxlaw-2807 121 62 to to PART taxlaw-2807 121 63 only only ADV taxlaw-2807 121 64 realized realize VERB taxlaw-2807 121 65 gains.21 gains.21 PROPN taxlaw-2807 121 66 the the DET taxlaw-2807 121 67 court court NOUN taxlaw-2807 121 68 soon soon ADV taxlaw-2807 121 69 retreated retreat VERB taxlaw-2807 121 70 from from ADP taxlaw-2807 121 71 that that DET taxlaw-2807 121 72 position position NOUN taxlaw-2807 121 73 , , PUNCT taxlaw-2807 121 74 however however ADV taxlaw-2807 121 75 , , PUNCT taxlaw-2807 121 76 and and CCONJ taxlaw-2807 121 77 scholars scholar NOUN taxlaw-2807 121 78 widely widely ADV taxlaw-2807 121 79 agree agree VERB taxlaw-2807 121 80 that that SCONJ taxlaw-2807 121 81 realization realization NOUN taxlaw-2807 121 82 is be AUX taxlaw-2807 121 83 not not PART taxlaw-2807 121 84 constitutionally constitutionally ADV taxlaw-2807 121 85 mandated.22 mandated.22 NOUN taxlaw-2807 121 86 in in ADP taxlaw-2807 121 87 fact fact NOUN taxlaw-2807 121 88 , , PUNCT taxlaw-2807 121 89 congress congress PROPN taxlaw-2807 121 90 has have AUX taxlaw-2807 121 91 successfully successfully ADV taxlaw-2807 121 92 adopted adopt VERB taxlaw-2807 121 93 many many ADJ taxlaw-2807 121 94 tax tax NOUN taxlaw-2807 121 95 arrangements arrangement NOUN taxlaw-2807 121 96 that that PRON taxlaw-2807 121 97 impose impose VERB taxlaw-2807 121 98 taxes taxis NOUN taxlaw-2807 121 99 on on ADP taxlaw-2807 121 100 unrealized unrealized ADJ taxlaw-2807 121 101 profits.23 profits.23 PROPN taxlaw-2807 121 102 this this DET taxlaw-2807 121 103 part part NOUN taxlaw-2807 121 104 briefly briefly ADV taxlaw-2807 121 105 explains explain VERB taxlaw-2807 121 106 the the DET taxlaw-2807 121 107 realization realization NOUN taxlaw-2807 121 108 requirement requirement NOUN taxlaw-2807 121 109 ’s ’s PART taxlaw-2807 121 110 operation operation NOUN taxlaw-2807 121 111 , , PUNCT taxlaw-2807 121 112 the the DET taxlaw-2807 121 113 tension tension NOUN taxlaw-2807 121 114 it it PRON taxlaw-2807 121 115 creates create VERB taxlaw-2807 121 116 within within ADP taxlaw-2807 121 117 the the DET taxlaw-2807 121 118 income income NOUN taxlaw-2807 121 119 tax tax NOUN taxlaw-2807 121 120 , , PUNCT taxlaw-2807 121 121 and and CCONJ taxlaw-2807 121 122 its its PRON taxlaw-2807 121 123 significant significant ADJ taxlaw-2807 121 124 social social ADJ taxlaw-2807 121 125 costs cost NOUN taxlaw-2807 121 126 . . PUNCT taxlaw-2807 122 1 it it PRON taxlaw-2807 122 2 then then ADV taxlaw-2807 122 3 presents present VERB taxlaw-2807 122 4 the the DET taxlaw-2807 122 5 canonic canonic ADJ taxlaw-2807 122 6 explanation explanation NOUN taxlaw-2807 122 7 for for ADP taxlaw-2807 122 8 how how SCONJ taxlaw-2807 122 9 this this DET taxlaw-2807 122 10 “ " PUNCT taxlaw-2807 122 11 achilles achille NOUN taxlaw-2807 122 12 ’ ' PUNCT taxlaw-2807 122 13 heel heel NOUN taxlaw-2807 122 14 ” " PUNCT taxlaw-2807 122 15 of of ADP taxlaw-2807 122 16 the the DET taxlaw-2807 122 17 income income NOUN taxlaw-2807 122 18 tax tax NOUN taxlaw-2807 122 19 has have AUX taxlaw-2807 122 20 endured endure VERB taxlaw-2807 122 21 in in ADP taxlaw-2807 122 22 spite spite NOUN taxlaw-2807 122 23 of of ADP taxlaw-2807 122 24 its its PRON taxlaw-2807 122 25 shortcomings.24 shortcomings.24 NOUN taxlaw-2807 122 26 a. a. NOUN taxlaw-2807 122 27 the the DET taxlaw-2807 122 28 function function NOUN taxlaw-2807 122 29 and and CCONJ taxlaw-2807 122 30 social social ADJ taxlaw-2807 122 31 costs cost NOUN taxlaw-2807 122 32 of of ADP taxlaw-2807 122 33 the the DET taxlaw-2807 122 34 realization realization NOUN taxlaw-2807 122 35 requirement requirement NOUN taxlaw-2807 122 36 this this DET taxlaw-2807 122 37 subpart subpart NOUN taxlaw-2807 122 38 describes describe VERB taxlaw-2807 122 39 the the DET taxlaw-2807 122 40 realization realization NOUN taxlaw-2807 122 41 requirement requirement NOUN taxlaw-2807 122 42 as as ADP taxlaw-2807 122 43 a a DET taxlaw-2807 122 44 transaction transaction NOUN taxlaw-2807 122 45 ( ( PUNCT taxlaw-2807 122 46 rather rather ADV taxlaw-2807 122 47 than than ADP taxlaw-2807 122 48 an an DET taxlaw-2807 122 49 income income NOUN taxlaw-2807 122 50 ) ) PUNCT taxlaw-2807 122 51 tax tax NOUN taxlaw-2807 122 52 and and CCONJ taxlaw-2807 122 53 explains explain VERB taxlaw-2807 122 54 the the DET taxlaw-2807 122 55 enormous enormous ADJ taxlaw-2807 122 56 social social ADJ taxlaw-2807 122 57 costs cost NOUN taxlaw-2807 122 58 this this DET taxlaw-2807 122 59 transactional transactional ADJ taxlaw-2807 122 60 element element NOUN taxlaw-2807 122 61 imposes impose VERB taxlaw-2807 122 62 upon upon SCONJ taxlaw-2807 122 63 the the DET taxlaw-2807 122 64 current current ADJ taxlaw-2807 122 65 regime.25 regime.25 NOUN taxlaw-2807 122 66 a a DET taxlaw-2807 122 67 simple simple ADJ taxlaw-2807 122 68 example example NOUN taxlaw-2807 122 69 may may AUX taxlaw-2807 122 70 help help VERB taxlaw-2807 122 71 illustrate illustrate VERB taxlaw-2807 122 72 how how SCONJ taxlaw-2807 122 73 the the DET taxlaw-2807 122 74 realization realization NOUN taxlaw-2807 122 75 requirement requirement NOUN taxlaw-2807 122 76 is be AUX taxlaw-2807 122 77 implemented implement VERB taxlaw-2807 122 78 . . PUNCT taxlaw-2807 123 1 in in ADP taxlaw-2807 123 2 1991 1991 NUM taxlaw-2807 123 3 , , PUNCT taxlaw-2807 123 4 a a DET taxlaw-2807 123 5 hypothetical hypothetical ADJ taxlaw-2807 123 6 relative relative NOUN taxlaw-2807 123 7 of of ADP taxlaw-2807 123 8 ours our NOUN taxlaw-2807 123 9 invested invest VERB taxlaw-2807 123 10 his his PRON taxlaw-2807 123 11 small small ADJ taxlaw-2807 123 12 inheritance inheritance NOUN taxlaw-2807 123 13 and and CCONJ taxlaw-2807 123 14 pension pension NOUN taxlaw-2807 123 15 savings saving NOUN taxlaw-2807 123 16 in in ADP taxlaw-2807 123 17 one one NUM taxlaw-2807 123 18 company company NOUN taxlaw-2807 123 19 : : PUNCT taxlaw-2807 123 20 aig aig PROPN taxlaw-2807 123 21 . . PUNCT taxlaw-2807 124 1 in in ADP taxlaw-2807 124 2 2001 2001 NUM taxlaw-2807 124 3 , , PUNCT taxlaw-2807 124 4 the the DET taxlaw-2807 124 5 price price NOUN taxlaw-2807 124 6 of of ADP taxlaw-2807 124 7 his his PRON taxlaw-2807 124 8 shares share NOUN taxlaw-2807 124 9 had have AUX taxlaw-2807 124 10 increased increase VERB taxlaw-2807 124 11 fifteen fifteen NUM taxlaw-2807 124 12 fold fold NOUN taxlaw-2807 124 13 , , PUNCT taxlaw-2807 124 14 and and CCONJ taxlaw-2807 124 15 the the DET taxlaw-2807 124 16 hypothetical hypothetical ADJ taxlaw-2807 124 17 relative relative NOUN taxlaw-2807 124 18 was be AUX taxlaw-2807 124 19 doing do VERB taxlaw-2807 124 20 great great ADJ taxlaw-2807 124 21 . . PUNCT taxlaw-2807 125 1 not not PART taxlaw-2807 125 2 feeling feel VERB taxlaw-2807 125 3 any any DET taxlaw-2807 125 4 obligation obligation NOUN taxlaw-2807 125 5 to to PART taxlaw-2807 125 6 save save VERB taxlaw-2807 125 7 , , PUNCT taxlaw-2807 125 8 he he PRON taxlaw-2807 125 9 was be AUX taxlaw-2807 125 10 vacationing vacation VERB taxlaw-2807 125 11 in in ADP taxlaw-2807 125 12 the the DET taxlaw-2807 125 13 caribbean caribbean NOUN taxlaw-2807 125 14 , , PUNCT taxlaw-2807 125 15 avoiding avoid VERB taxlaw-2807 125 16 cheap cheap ADJ taxlaw-2807 125 17 hotels hotel NOUN taxlaw-2807 125 18 , , PUNCT taxlaw-2807 125 19 taking take VERB taxlaw-2807 125 20 big big ADJ taxlaw-2807 125 21 mortgages mortgage NOUN taxlaw-2807 125 22 on on ADP taxlaw-2807 125 23 his his PRON taxlaw-2807 125 24 new new PROPN taxlaw-2807 125 25 york york PROPN taxlaw-2807 125 26 apartment apartment NOUN taxlaw-2807 125 27 and and CCONJ taxlaw-2807 125 28 florida florida PROPN taxlaw-2807 125 29 mansion mansion PROPN taxlaw-2807 125 30 , , PUNCT taxlaw-2807 125 31 considering consider VERB taxlaw-2807 125 32 early early ADJ taxlaw-2807 125 33 retirement retirement NOUN taxlaw-2807 125 34 , , PUNCT taxlaw-2807 125 35 and and CCONJ taxlaw-2807 125 36 20 20 NUM taxlaw-2807 125 37 see see VERB taxlaw-2807 125 38 helvering helvere VERB taxlaw-2807 125 39 v. v. PROPN taxlaw-2807 125 40 horst horst PROPN taxlaw-2807 125 41 , , PUNCT taxlaw-2807 125 42 311 311 NUM taxlaw-2807 125 43 u.s u.s PROPN taxlaw-2807 125 44 . . PROPN taxlaw-2807 125 45 112 112 NUM taxlaw-2807 125 46 , , PUNCT taxlaw-2807 125 47 115 115 NUM taxlaw-2807 125 48 ( ( PUNCT taxlaw-2807 125 49 1940 1940 NUM taxlaw-2807 125 50 ) ) PUNCT taxlaw-2807 125 51 ; ; PUNCT taxlaw-2807 125 52 cottage cottage NOUN taxlaw-2807 125 53 sav sav PROPN taxlaw-2807 125 54 . . PUNCT taxlaw-2807 126 1 ass’n ass’n PROPN taxlaw-2807 126 2 v. v. ADP taxlaw-2807 126 3 comm’r comm’r NOUN taxlaw-2807 126 4 , , PUNCT taxlaw-2807 126 5 499 499 NUM taxlaw-2807 126 6 u.s u.s PROPN taxlaw-2807 126 7 . . PROPN taxlaw-2807 126 8 554 554 NUM taxlaw-2807 126 9 , , PUNCT taxlaw-2807 126 10 559 559 NUM taxlaw-2807 126 11 ( ( PUNCT taxlaw-2807 126 12 1991 1991 NUM taxlaw-2807 126 13 ) ) PUNCT taxlaw-2807 126 14 . . PUNCT taxlaw-2807 127 1 see see VERB taxlaw-2807 127 2 also also ADV taxlaw-2807 127 3 i.r.c i.r.c NOUN taxlaw-2807 127 4 . . PUNCT taxlaw-2807 128 1 § § PROPN taxlaw-2807 128 2 1001(a 1001(a NUM taxlaw-2807 128 3 ) ) PUNCT taxlaw-2807 128 4 ( ( PUNCT taxlaw-2807 128 5 2006 2006 NUM taxlaw-2807 128 6 ) ) PUNCT taxlaw-2807 128 7 . . PUNCT taxlaw-2807 129 1 21 21 NUM taxlaw-2807 129 2 eisner eisner PROPN taxlaw-2807 129 3 v. v. PROPN taxlaw-2807 129 4 macomber macomber PROPN taxlaw-2807 129 5 , , PUNCT taxlaw-2807 129 6 252 252 NUM taxlaw-2807 129 7 u.s u.s PROPN taxlaw-2807 129 8 . . PROPN taxlaw-2807 129 9 189 189 NUM taxlaw-2807 129 10 ( ( PUNCT taxlaw-2807 129 11 1920 1920 NUM taxlaw-2807 129 12 ) ) PUNCT taxlaw-2807 129 13 . . PUNCT taxlaw-2807 130 1 22 22 NUM taxlaw-2807 130 2 see see VERB taxlaw-2807 130 3 marvin marvin PROPN taxlaw-2807 130 4 a. a. PROPN taxlaw-2807 130 5 chirelstein chirelstein PROPN taxlaw-2807 130 6 , , PUNCT taxlaw-2807 130 7 federal federal ADJ taxlaw-2807 130 8 income income NOUN taxlaw-2807 130 9 taxation taxation NOUN taxlaw-2807 130 10 73 73 NUM taxlaw-2807 130 11 ( ( PUNCT taxlaw-2807 130 12 11th 11th ADJ taxlaw-2807 130 13 ed ed NOUN taxlaw-2807 130 14 . . PUNCT taxlaw-2807 130 15 2009 2009 NUM taxlaw-2807 130 16 ) ) PUNCT taxlaw-2807 130 17 ; ; PUNCT taxlaw-2807 130 18 terrence terrence PROPN taxlaw-2807 130 19 r. r. PROPN taxlaw-2807 130 20 chorvat chorvat PROPN taxlaw-2807 130 21 , , PUNCT taxlaw-2807 130 22 perception perception NOUN taxlaw-2807 130 23 and and CCONJ taxlaw-2807 130 24 income income NOUN taxlaw-2807 130 25 : : PUNCT taxlaw-2807 130 26 the the DET taxlaw-2807 130 27 behavioral behavioral ADJ taxlaw-2807 130 28 economics economic NOUN taxlaw-2807 130 29 of of ADP taxlaw-2807 130 30 the the DET taxlaw-2807 130 31 realization realization NOUN taxlaw-2807 130 32 doctrine doctrine NOUN taxlaw-2807 130 33 , , PUNCT taxlaw-2807 130 34 36 36 NUM taxlaw-2807 130 35 conn conn PROPN taxlaw-2807 130 36 . . PROPN taxlaw-2807 130 37 l. l. PROPN taxlaw-2807 130 38 rev rev PROPN taxlaw-2807 130 39 . . PROPN taxlaw-2807 130 40 75 75 NUM taxlaw-2807 130 41 , , PUNCT taxlaw-2807 130 42 82 82 NUM taxlaw-2807 130 43 ( ( PUNCT taxlaw-2807 130 44 2003 2003 NUM taxlaw-2807 130 45 ) ) PUNCT taxlaw-2807 130 46 ( ( PUNCT taxlaw-2807 130 47 providing provide VERB taxlaw-2807 130 48 a a DET taxlaw-2807 130 49 short short ADJ taxlaw-2807 130 50 survey survey NOUN taxlaw-2807 130 51 of of ADP taxlaw-2807 130 52 the the DET taxlaw-2807 130 53 erosion erosion NOUN taxlaw-2807 130 54 of of ADP taxlaw-2807 130 55 the the DET taxlaw-2807 130 56 realization realization NOUN taxlaw-2807 130 57 requirement requirement NOUN taxlaw-2807 130 58 ’s ’s PART taxlaw-2807 130 59 constitutional constitutional ADJ taxlaw-2807 130 60 protection protection NOUN taxlaw-2807 130 61 ) ) PUNCT taxlaw-2807 130 62 ; ; PUNCT taxlaw-2807 130 63 cunningham cunningham PROPN taxlaw-2807 130 64 & & CCONJ taxlaw-2807 130 65 schenk schenk PROPN taxlaw-2807 130 66 , , PUNCT taxlaw-2807 130 67 supra supra PROPN taxlaw-2807 130 68 note note NOUN taxlaw-2807 130 69 9 9 NUM taxlaw-2807 130 70 , , PUNCT taxlaw-2807 130 71 at at ADP taxlaw-2807 130 72 742 742 NUM taxlaw-2807 130 73 . . PUNCT taxlaw-2807 130 74 23 23 NUM taxlaw-2807 131 1 this this PRON taxlaw-2807 131 2 includes include VERB taxlaw-2807 131 3 the the DET taxlaw-2807 131 4 tax tax NOUN taxlaw-2807 131 5 arrangements arrangement NOUN taxlaw-2807 131 6 that that PRON taxlaw-2807 131 7 governed govern VERB taxlaw-2807 131 8 the the DET taxlaw-2807 131 9 taxation taxation NOUN taxlaw-2807 131 10 of of ADP taxlaw-2807 131 11 pass pass VERB taxlaw-2807 131 12 - - PUNCT taxlaw-2807 131 13 through through ADP taxlaw-2807 131 14 entities entity NOUN taxlaw-2807 131 15 in in ADP taxlaw-2807 131 16 the the DET taxlaw-2807 131 17 1950s 1950 NOUN taxlaw-2807 131 18 ( ( PUNCT taxlaw-2807 131 19 subchapters subchapter NOUN taxlaw-2807 131 20 k k PROPN taxlaw-2807 131 21 and and CCONJ taxlaw-2807 131 22 s s X taxlaw-2807 131 23 in in ADP taxlaw-2807 131 24 the the DET taxlaw-2807 131 25 internal internal ADJ taxlaw-2807 131 26 revenue revenue NOUN taxlaw-2807 131 27 code code PROPN taxlaw-2807 131 28 ) ) PUNCT taxlaw-2807 131 29 and and CCONJ taxlaw-2807 131 30 the the DET taxlaw-2807 131 31 rules rule NOUN taxlaw-2807 131 32 that that PRON taxlaw-2807 131 33 govern govern VERB taxlaw-2807 131 34 the the DET taxlaw-2807 131 35 taxation taxation NOUN taxlaw-2807 131 36 of of ADP taxlaw-2807 131 37 certain certain ADJ taxlaw-2807 131 38 traded trade VERB taxlaw-2807 131 39 commodity commodity NOUN taxlaw-2807 131 40 futures future NOUN taxlaw-2807 131 41 and and CCONJ taxlaw-2807 131 42 financial financial ADJ taxlaw-2807 131 43 institutions institution NOUN taxlaw-2807 131 44 . . PUNCT taxlaw-2807 132 1 chorvat chorvat NOUN taxlaw-2807 132 2 , , PUNCT taxlaw-2807 132 3 supra supra PROPN taxlaw-2807 132 4 note note NOUN taxlaw-2807 132 5 22 22 NUM taxlaw-2807 132 6 , , PUNCT taxlaw-2807 132 7 at at ADP taxlaw-2807 132 8 83 83 NUM taxlaw-2807 132 9 - - SYM taxlaw-2807 132 10 86 86 NUM taxlaw-2807 132 11 ( ( PUNCT taxlaw-2807 132 12 describing describe VERB taxlaw-2807 132 13 these these DET taxlaw-2807 132 14 examples example NOUN taxlaw-2807 132 15 ) ) PUNCT taxlaw-2807 132 16 . . PUNCT taxlaw-2807 133 1 24 24 NUM taxlaw-2807 133 2 see see VERB taxlaw-2807 133 3 andrews andrews PROPN taxlaw-2807 133 4 , , PUNCT taxlaw-2807 133 5 supra supra PROPN taxlaw-2807 133 6 note note NOUN taxlaw-2807 133 7 3 3 NUM taxlaw-2807 133 8 , , PUNCT taxlaw-2807 133 9 at at ADP taxlaw-2807 133 10 280 280 NUM taxlaw-2807 133 11 . . PUNCT taxlaw-2807 133 12 25 25 NUM taxlaw-2807 133 13 see see NOUN taxlaw-2807 133 14 bankman bankman NOUN taxlaw-2807 133 15 , , PUNCT taxlaw-2807 133 16 supra supra PROPN taxlaw-2807 133 17 note note NOUN taxlaw-2807 133 18 10 10 NUM taxlaw-2807 133 19 , , PUNCT taxlaw-2807 133 20 at at ADP taxlaw-2807 133 21 479 479 NUM taxlaw-2807 133 22 ; ; PUNCT taxlaw-2807 133 23 cynthia cynthia PROPN taxlaw-2807 133 24 blum blum PROPN taxlaw-2807 133 25 , , PUNCT taxlaw-2807 133 26 new new ADJ taxlaw-2807 133 27 role role NOUN taxlaw-2807 133 28 for for ADP taxlaw-2807 133 29 the the DET taxlaw-2807 133 30 treasury treasury NOUN taxlaw-2807 133 31 : : PUNCT taxlaw-2807 133 32 charging charge VERB taxlaw-2807 133 33 interest interest NOUN taxlaw-2807 133 34 on on ADP taxlaw-2807 133 35 tax tax NOUN taxlaw-2807 133 36 deferral deferral ADJ taxlaw-2807 133 37 loans loan NOUN taxlaw-2807 133 38 , , PUNCT taxlaw-2807 133 39 25 25 NUM taxlaw-2807 133 40 harv harv NOUN taxlaw-2807 133 41 . . PUNCT taxlaw-2807 134 1 j. j. PROPN taxlaw-2807 134 2 on on ADP taxlaw-2807 134 3 legis legis PROPN taxlaw-2807 134 4 . . PUNCT taxlaw-2807 135 1 1 1 NUM taxlaw-2807 135 2 , , PUNCT taxlaw-2807 135 3 93–94 93–94 NUM taxlaw-2807 135 4 ( ( PUNCT taxlaw-2807 135 5 1988 1988 NUM taxlaw-2807 135 6 ) ) PUNCT taxlaw-2807 135 7 ; ; PUNCT taxlaw-2807 135 8 weisbach weisbach NOUN taxlaw-2807 135 9 , , PUNCT taxlaw-2807 135 10 supra supra ADJ taxlaw-2807 135 11 note note NOUN taxlaw-2807 135 12 1 1 NUM taxlaw-2807 135 13 , , PUNCT taxlaw-2807 135 14 at at ADP taxlaw-2807 135 15 97 97 NUM taxlaw-2807 135 16 . . NOUN taxlaw-2807 135 17 50 50 NUM taxlaw-2807 135 18 columbia columbia PROPN taxlaw-2807 135 19 journal journal NOUN taxlaw-2807 135 20 of of ADP taxlaw-2807 135 21 tax tax NOUN taxlaw-2807 135 22 law law NOUN taxlaw-2807 136 1 [ [ X taxlaw-2807 136 2 vol.3:43 vol.3:43 PROPN taxlaw-2807 136 3 planning planning NOUN taxlaw-2807 136 4 to to PART taxlaw-2807 136 5 buy buy VERB taxlaw-2807 136 6 his his PRON taxlaw-2807 136 7 kids kid NOUN taxlaw-2807 136 8 new new ADJ taxlaw-2807 136 9 cars car NOUN taxlaw-2807 136 10 . . PUNCT taxlaw-2807 137 1 at at ADP taxlaw-2807 137 2 family family NOUN taxlaw-2807 137 3 parties party NOUN taxlaw-2807 137 4 , , PUNCT taxlaw-2807 137 5 we we PRON taxlaw-2807 137 6 would would AUX taxlaw-2807 137 7 all all DET taxlaw-2807 137 8 gossip gossip VERB taxlaw-2807 137 9 about about ADP taxlaw-2807 137 10 his his PRON taxlaw-2807 137 11 wife wife NOUN taxlaw-2807 137 12 , , PUNCT taxlaw-2807 137 13 saying say VERB taxlaw-2807 137 14 how how SCONJ taxlaw-2807 137 15 lucky lucky ADJ taxlaw-2807 137 16 she she PRON taxlaw-2807 137 17 was be AUX taxlaw-2807 137 18 to to PART taxlaw-2807 137 19 marry marry VERB taxlaw-2807 137 20 such such DET taxlaw-2807 137 21 a a DET taxlaw-2807 137 22 clever clever ADJ taxlaw-2807 137 23 investor investor NOUN taxlaw-2807 137 24 . . PUNCT taxlaw-2807 138 1 by by ADP taxlaw-2807 138 2 2011 2011 NUM taxlaw-2807 138 3 , , PUNCT taxlaw-2807 138 4 however however ADV taxlaw-2807 138 5 , , PUNCT taxlaw-2807 138 6 things thing NOUN taxlaw-2807 138 7 have have AUX taxlaw-2807 138 8 radically radically ADV taxlaw-2807 138 9 changed change VERB taxlaw-2807 138 10 for for ADP taxlaw-2807 138 11 the the DET taxlaw-2807 138 12 hypothetical hypothetical ADJ taxlaw-2807 138 13 relative relative NOUN taxlaw-2807 138 14 — — PUNCT taxlaw-2807 138 15 the the DET taxlaw-2807 138 16 caribbean caribbean NOUN taxlaw-2807 138 17 seems seem VERB taxlaw-2807 138 18 as as ADV taxlaw-2807 138 19 distant distant ADJ taxlaw-2807 138 20 as as ADP taxlaw-2807 138 21 the the DET taxlaw-2807 138 22 moon moon NOUN taxlaw-2807 138 23 , , PUNCT taxlaw-2807 138 24 the the DET taxlaw-2807 138 25 kids kid NOUN taxlaw-2807 138 26 have have VERB taxlaw-2807 138 27 to to PART taxlaw-2807 138 28 take take VERB taxlaw-2807 138 29 out out ADP taxlaw-2807 138 30 huge huge ADJ taxlaw-2807 138 31 student student NOUN taxlaw-2807 138 32 loans loan NOUN taxlaw-2807 138 33 , , PUNCT taxlaw-2807 138 34 he he PRON taxlaw-2807 138 35 rarely rarely ADV taxlaw-2807 138 36 attends attend VERB taxlaw-2807 138 37 family family NOUN taxlaw-2807 138 38 festivities festivity NOUN taxlaw-2807 138 39 , , PUNCT taxlaw-2807 138 40 and and CCONJ taxlaw-2807 138 41 when when SCONJ taxlaw-2807 138 42 his his PRON taxlaw-2807 138 43 ex ex NOUN taxlaw-2807 138 44 - - NOUN taxlaw-2807 138 45 wife wife NOUN taxlaw-2807 138 46 does do VERB taxlaw-2807 138 47 , , PUNCT taxlaw-2807 138 48 we we PRON taxlaw-2807 138 49 all all PRON taxlaw-2807 138 50 gossip gossip VERB taxlaw-2807 138 51 about about ADP taxlaw-2807 138 52 how how SCONJ taxlaw-2807 138 53 unfortunate unfortunate ADJ taxlaw-2807 138 54 she she PRON taxlaw-2807 138 55 is be AUX taxlaw-2807 138 56 to to PART taxlaw-2807 138 57 have have AUX taxlaw-2807 138 58 married marry VERB taxlaw-2807 138 59 such such DET taxlaw-2807 138 60 a a DET taxlaw-2807 138 61 reckless reckless ADJ taxlaw-2807 138 62 speculator speculator NOUN taxlaw-2807 138 63 . . PUNCT taxlaw-2807 139 1 over over ADP taxlaw-2807 139 2 the the DET taxlaw-2807 139 3 last last ADJ taxlaw-2807 139 4 twenty twenty NUM taxlaw-2807 139 5 years year NOUN taxlaw-2807 139 6 , , PUNCT taxlaw-2807 139 7 the the DET taxlaw-2807 139 8 hypothetical hypothetical ADJ taxlaw-2807 139 9 relative relative NOUN taxlaw-2807 139 10 ’s ’s PART taxlaw-2807 139 11 life life NOUN taxlaw-2807 139 12 has have AUX taxlaw-2807 139 13 been be AUX taxlaw-2807 139 14 a a DET taxlaw-2807 139 15 roller roller NOUN taxlaw-2807 139 16 coaster coaster NOUN taxlaw-2807 139 17 , , PUNCT taxlaw-2807 139 18 yet yet CCONJ taxlaw-2807 139 19 one one NUM taxlaw-2807 139 20 thing thing NOUN taxlaw-2807 139 21 has have AUX taxlaw-2807 139 22 remained remain VERB taxlaw-2807 139 23 stable stable ADJ taxlaw-2807 139 24 : : PUNCT taxlaw-2807 139 25 his his PRON taxlaw-2807 139 26 tax tax NOUN taxlaw-2807 139 27 liability liability NOUN taxlaw-2807 139 28 . . PUNCT taxlaw-2807 140 1 because because SCONJ taxlaw-2807 140 2 of of ADP taxlaw-2807 140 3 the the DET taxlaw-2807 140 4 realization realization NOUN taxlaw-2807 140 5 requirement requirement NOUN taxlaw-2807 140 6 , , PUNCT taxlaw-2807 140 7 he he PRON taxlaw-2807 140 8 paid pay VERB taxlaw-2807 140 9 no no DET taxlaw-2807 140 10 income income NOUN taxlaw-2807 140 11 taxes taxis NOUN taxlaw-2807 140 12 and and CCONJ taxlaw-2807 140 13 received receive VERB taxlaw-2807 140 14 no no DET taxlaw-2807 140 15 deductions deduction NOUN taxlaw-2807 140 16 with with ADP taxlaw-2807 140 17 respect respect NOUN taxlaw-2807 140 18 to to ADP taxlaw-2807 140 19 his his PRON taxlaw-2807 140 20 holdings holding NOUN taxlaw-2807 140 21 in in ADP taxlaw-2807 140 22 aig aig PROPN taxlaw-2807 140 23 throughout throughout ADP taxlaw-2807 140 24 those those DET taxlaw-2807 140 25 years year NOUN taxlaw-2807 140 26 . . PUNCT taxlaw-2807 141 1 in in ADP taxlaw-2807 141 2 contrast contrast NOUN taxlaw-2807 141 3 , , PUNCT taxlaw-2807 141 4 under under ADP taxlaw-2807 141 5 a a DET taxlaw-2807 141 6 “ " PUNCT taxlaw-2807 141 7 mark mark VERB taxlaw-2807 141 8 - - PUNCT taxlaw-2807 141 9 to to ADP taxlaw-2807 141 10 - - PUNCT taxlaw-2807 141 11 market market NOUN taxlaw-2807 141 12 ” " PUNCT taxlaw-2807 141 13 tax tax NOUN taxlaw-2807 141 14 regime regime NOUN taxlaw-2807 141 15 , , PUNCT taxlaw-2807 141 16 the the DET taxlaw-2807 141 17 unfortunate unfortunate ADJ taxlaw-2807 141 18 relative relative NOUN taxlaw-2807 141 19 would would AUX taxlaw-2807 141 20 have have AUX taxlaw-2807 141 21 been be AUX taxlaw-2807 141 22 required require VERB taxlaw-2807 141 23 to to PART taxlaw-2807 141 24 pay pay VERB taxlaw-2807 141 25 taxes taxis NOUN taxlaw-2807 141 26 ( ( PUNCT taxlaw-2807 141 27 and and CCONJ taxlaw-2807 141 28 been be AUX taxlaw-2807 141 29 able able ADJ taxlaw-2807 141 30 to to PART taxlaw-2807 141 31 deduct deduct VERB taxlaw-2807 141 32 losses loss NOUN taxlaw-2807 141 33 ) ) PUNCT taxlaw-2807 141 34 as as SCONJ taxlaw-2807 141 35 the the DET taxlaw-2807 141 36 value value NOUN taxlaw-2807 141 37 of of ADP taxlaw-2807 141 38 his his PRON taxlaw-2807 141 39 investments investment NOUN taxlaw-2807 141 40 changed change VERB taxlaw-2807 141 41 . . PUNCT taxlaw-2807 142 1 mark mark PROPN taxlaw-2807 142 2 - - PUNCT taxlaw-2807 142 3 to to ADP taxlaw-2807 142 4 - - PUNCT taxlaw-2807 142 5 market market NOUN taxlaw-2807 142 6 tax tax NOUN taxlaw-2807 142 7 treatment treatment NOUN taxlaw-2807 142 8 may may AUX taxlaw-2807 142 9 not not PART taxlaw-2807 142 10 seem seem VERB taxlaw-2807 142 11 intuitive intuitive ADJ taxlaw-2807 142 12 , , PUNCT taxlaw-2807 142 13 but but CCONJ taxlaw-2807 142 14 it it PRON taxlaw-2807 142 15 is be AUX taxlaw-2807 142 16 sensible sensible ADJ taxlaw-2807 142 17 because because SCONJ taxlaw-2807 142 18 the the DET taxlaw-2807 142 19 gains gain NOUN taxlaw-2807 142 20 and and CCONJ taxlaw-2807 142 21 losses loss NOUN taxlaw-2807 142 22 of of ADP taxlaw-2807 142 23 the the DET taxlaw-2807 142 24 hypothetical hypothetical ADJ taxlaw-2807 142 25 relative relative NOUN taxlaw-2807 142 26 reflected reflect VERB taxlaw-2807 142 27 real real ADJ taxlaw-2807 142 28 changes change NOUN taxlaw-2807 142 29 in in ADP taxlaw-2807 142 30 his his PRON taxlaw-2807 142 31 economic economic ADJ taxlaw-2807 142 32 purchasing purchase VERB taxlaw-2807 142 33 power.26 power.26 NOUN taxlaw-2807 142 34 true true ADJ taxlaw-2807 142 35 , , PUNCT taxlaw-2807 142 36 he he PRON taxlaw-2807 142 37 could could AUX taxlaw-2807 142 38 not not PART taxlaw-2807 142 39 have have AUX taxlaw-2807 142 40 paid pay VERB taxlaw-2807 142 41 his his PRON taxlaw-2807 142 42 grocery grocery NOUN taxlaw-2807 142 43 bills bill NOUN taxlaw-2807 142 44 with with ADP taxlaw-2807 142 45 aig aig PROPN taxlaw-2807 142 46 stock stock NOUN taxlaw-2807 142 47 , , PUNCT taxlaw-2807 142 48 but but CCONJ taxlaw-2807 142 49 he he PRON taxlaw-2807 142 50 could could AUX taxlaw-2807 142 51 have have AUX taxlaw-2807 142 52 sold sell VERB taxlaw-2807 142 53 any any DET taxlaw-2807 142 54 amount amount NOUN taxlaw-2807 142 55 of of ADP taxlaw-2807 142 56 the the DET taxlaw-2807 142 57 stock stock NOUN taxlaw-2807 142 58 at at ADP taxlaw-2807 142 59 any any DET taxlaw-2807 142 60 point point NOUN taxlaw-2807 142 61 in in ADP taxlaw-2807 142 62 order order NOUN taxlaw-2807 142 63 to to PART taxlaw-2807 142 64 do do AUX taxlaw-2807 142 65 so so ADV taxlaw-2807 142 66 . . PUNCT taxlaw-2807 143 1 more more ADV taxlaw-2807 143 2 importantly importantly ADV taxlaw-2807 143 3 , , PUNCT taxlaw-2807 143 4 he he PRON taxlaw-2807 143 5 borrowed borrow VERB taxlaw-2807 143 6 against against ADP taxlaw-2807 143 7 the the DET taxlaw-2807 143 8 stock stock NOUN taxlaw-2807 143 9 and and CCONJ taxlaw-2807 143 10 used use VERB taxlaw-2807 143 11 the the DET taxlaw-2807 143 12 loan loan NOUN taxlaw-2807 143 13 proceeds proceed NOUN taxlaw-2807 143 14 for for ADP taxlaw-2807 143 15 consumption.27 consumption.27 PROPN taxlaw-2807 143 16 simply simply ADV taxlaw-2807 143 17 put put VERB taxlaw-2807 143 18 , , PUNCT taxlaw-2807 143 19 while while SCONJ taxlaw-2807 143 20 his his PRON taxlaw-2807 143 21 stock stock NOUN taxlaw-2807 143 22 was be AUX taxlaw-2807 143 23 not not PART taxlaw-2807 143 24 equivalent equivalent ADJ taxlaw-2807 143 25 to to ADP taxlaw-2807 143 26 money money NOUN taxlaw-2807 143 27 , , PUNCT taxlaw-2807 143 28 it it PRON taxlaw-2807 143 29 was be AUX taxlaw-2807 143 30 viewed view VERB taxlaw-2807 143 31 by by ADP taxlaw-2807 143 32 this this DET taxlaw-2807 143 33 relative relative NOUN taxlaw-2807 143 34 , , PUNCT taxlaw-2807 143 35 and and CCONJ taxlaw-2807 143 36 basically basically ADV taxlaw-2807 143 37 everyone everyone PRON taxlaw-2807 143 38 else else ADV taxlaw-2807 143 39 , , PUNCT taxlaw-2807 143 40 as as ADP taxlaw-2807 143 41 being be AUX taxlaw-2807 143 42 almost almost ADV taxlaw-2807 143 43 as as ADV taxlaw-2807 143 44 good good ADJ taxlaw-2807 143 45 . . PUNCT taxlaw-2807 144 1 it it PRON taxlaw-2807 144 2 is be AUX taxlaw-2807 144 3 widely widely ADV taxlaw-2807 144 4 accepted accept VERB taxlaw-2807 144 5 among among ADP taxlaw-2807 144 6 economists economist NOUN taxlaw-2807 144 7 and and CCONJ taxlaw-2807 144 8 tax tax NOUN taxlaw-2807 144 9 professionals professional NOUN taxlaw-2807 144 10 that that PRON taxlaw-2807 144 11 taxpayers taxpayer VERB taxlaw-2807 144 12 ’ ' PUNCT taxlaw-2807 144 13 economic economic ADJ taxlaw-2807 144 14 incomes income NOUN taxlaw-2807 144 15 increase increase VERB taxlaw-2807 144 16 as as SCONJ taxlaw-2807 144 17 their their PRON taxlaw-2807 144 18 assets asset NOUN taxlaw-2807 144 19 appreciate appreciate VERB taxlaw-2807 144 20 , , PUNCT taxlaw-2807 144 21 not not PART taxlaw-2807 144 22 just just ADV taxlaw-2807 144 23 when when SCONJ taxlaw-2807 144 24 those those DET taxlaw-2807 144 25 assets asset NOUN taxlaw-2807 144 26 are be AUX taxlaw-2807 144 27 sold.28 sold.28 NOUN taxlaw-2807 144 28 to to ADP taxlaw-2807 144 29 the the DET taxlaw-2807 144 30 extent extent NOUN taxlaw-2807 144 31 that that SCONJ taxlaw-2807 144 32 individuals individual NOUN taxlaw-2807 144 33 ’ ' PUNCT taxlaw-2807 144 34 increase increase NOUN taxlaw-2807 144 35 in in ADP taxlaw-2807 144 36 wealth wealth NOUN taxlaw-2807 144 37 is be AUX taxlaw-2807 144 38 a a DET taxlaw-2807 144 39 good good ADJ taxlaw-2807 144 40 proxy proxy NOUN taxlaw-2807 144 41 for for ADP taxlaw-2807 144 42 their their PRON taxlaw-2807 144 43 wellbeing wellbeing NOUN taxlaw-2807 144 44 — — PUNCT taxlaw-2807 144 45 and and CCONJ taxlaw-2807 144 46 therefore therefore ADV taxlaw-2807 144 47 a a DET taxlaw-2807 144 48 relevant relevant ADJ taxlaw-2807 144 49 benchmark benchmark NOUN taxlaw-2807 144 50 for for ADP taxlaw-2807 144 51 taxation taxation NOUN taxlaw-2807 144 52 — — PUNCT taxlaw-2807 144 53 taxpayers taxpayer NOUN taxlaw-2807 144 54 ’ ' PUNCT taxlaw-2807 144 55 realized realize VERB taxlaw-2807 144 56 gains gain NOUN taxlaw-2807 144 57 and and CCONJ taxlaw-2807 144 58 cash cash NOUN taxlaw-2807 144 59 flows flow NOUN taxlaw-2807 144 60 are be AUX taxlaw-2807 144 61 ( ( PUNCT taxlaw-2807 144 62 from from ADP taxlaw-2807 144 63 a a DET taxlaw-2807 144 64 pure pure ADJ taxlaw-2807 144 65 income income NOUN taxlaw-2807 144 66 tax tax NOUN taxlaw-2807 144 67 perspective perspective NOUN taxlaw-2807 144 68 ) ) PUNCT taxlaw-2807 144 69 beside beside ADP taxlaw-2807 144 70 the the DET taxlaw-2807 144 71 point.29 point.29 NOUN taxlaw-2807 144 72 the the DET taxlaw-2807 144 73 principle principle NOUN taxlaw-2807 144 74 that that SCONJ taxlaw-2807 144 75 all all DET taxlaw-2807 144 76 accretions accretion NOUN taxlaw-2807 144 77 to to ADP taxlaw-2807 144 78 wealth wealth NOUN taxlaw-2807 144 79 should should AUX taxlaw-2807 144 80 be be AUX taxlaw-2807 144 81 measured measure VERB taxlaw-2807 144 82 by by ADP taxlaw-2807 144 83 an an DET taxlaw-2807 144 84 income income NOUN taxlaw-2807 144 85 tax tax NOUN taxlaw-2807 144 86 creates create VERB taxlaw-2807 144 87 an an DET taxlaw-2807 144 88 interesting interesting ADJ taxlaw-2807 144 89 tension tension NOUN taxlaw-2807 144 90 . . PUNCT taxlaw-2807 145 1 if if SCONJ taxlaw-2807 145 2 policymakers policymaker NOUN taxlaw-2807 145 3 wish wish VERB taxlaw-2807 145 4 to to PART taxlaw-2807 145 5 use use VERB taxlaw-2807 145 6 the the DET taxlaw-2807 145 7 income income NOUN taxlaw-2807 145 8 tax tax NOUN taxlaw-2807 145 9 to to PART taxlaw-2807 145 10 generate generate VERB taxlaw-2807 145 11 revenue revenue NOUN taxlaw-2807 145 12 , , PUNCT taxlaw-2807 145 13 they they PRON taxlaw-2807 145 14 should should AUX taxlaw-2807 145 15 try try VERB taxlaw-2807 145 16 to to PART taxlaw-2807 145 17 avoid avoid VERB taxlaw-2807 145 18 giving give VERB taxlaw-2807 145 19 it it PRON taxlaw-2807 145 20 a a DET taxlaw-2807 145 21 transactional transactional ADJ taxlaw-2807 145 22 dimension dimension NOUN taxlaw-2807 145 23 , , PUNCT taxlaw-2807 145 24 meaning mean VERB taxlaw-2807 145 25 that that SCONJ taxlaw-2807 145 26 taxation taxation NOUN taxlaw-2807 145 27 should should AUX taxlaw-2807 145 28 not not PART taxlaw-2807 145 29 depend depend VERB taxlaw-2807 145 30 on on ADP taxlaw-2807 145 31 when when SCONJ taxlaw-2807 145 32 taxpayers taxpayer NOUN taxlaw-2807 145 33 choose choose VERB taxlaw-2807 145 34 to to PART taxlaw-2807 145 35 put put VERB taxlaw-2807 145 36 assets asset NOUN taxlaw-2807 145 37 on on ADP taxlaw-2807 145 38 the the DET taxlaw-2807 145 39 market.30 market.30 NOUN taxlaw-2807 145 40 transactional transactional ADJ taxlaw-2807 145 41 elements element NOUN taxlaw-2807 145 42 are be AUX taxlaw-2807 145 43 problematic problematic ADJ taxlaw-2807 145 44 because because SCONJ taxlaw-2807 145 45 taxpayers taxpayer NOUN taxlaw-2807 145 46 can can AUX taxlaw-2807 145 47 time time VERB taxlaw-2807 145 48 and and CCONJ taxlaw-2807 145 49 structure structure NOUN taxlaw-2807 145 50 exchanges exchange NOUN taxlaw-2807 145 51 and and CCONJ taxlaw-2807 145 52 sales sale NOUN taxlaw-2807 145 53 . . PUNCT taxlaw-2807 146 1 that that PRON taxlaw-2807 146 2 is be AUX taxlaw-2807 146 3 , , PUNCT taxlaw-2807 146 4 transactional transactional ADJ taxlaw-2807 146 5 taxation taxation NOUN taxlaw-2807 146 6 gives give VERB taxlaw-2807 146 7 taxpayers taxpayer NOUN taxlaw-2807 146 8 considerable considerable ADJ taxlaw-2807 146 9 ability ability NOUN taxlaw-2807 146 10 to to PART taxlaw-2807 146 11 control control VERB taxlaw-2807 146 12 how how SCONJ taxlaw-2807 146 13 and and CCONJ taxlaw-2807 146 14 when when SCONJ taxlaw-2807 146 15 to to PART taxlaw-2807 146 16 pay pay VERB taxlaw-2807 146 17 the the DET taxlaw-2807 146 18 taxes taxis NOUN taxlaw-2807 146 19 . . PUNCT taxlaw-2807 147 1 26 26 NUM taxlaw-2807 147 2 there there PRON taxlaw-2807 147 3 may may AUX taxlaw-2807 147 4 be be AUX taxlaw-2807 147 5 some some DET taxlaw-2807 147 6 question question NOUN taxlaw-2807 147 7 over over ADP taxlaw-2807 147 8 how how SCONJ taxlaw-2807 147 9 sensible sensible ADJ taxlaw-2807 147 10 it it PRON taxlaw-2807 147 11 is be AUX taxlaw-2807 147 12 to to PART taxlaw-2807 147 13 collect collect VERB taxlaw-2807 147 14 taxes taxis NOUN taxlaw-2807 147 15 and and CCONJ taxlaw-2807 147 16 then then ADV taxlaw-2807 147 17 turn turn VERB taxlaw-2807 147 18 them they PRON taxlaw-2807 147 19 back back ADV taxlaw-2807 147 20 when when SCONJ taxlaw-2807 147 21 losses loss NOUN taxlaw-2807 147 22 appear appear VERB taxlaw-2807 147 23 if if SCONJ taxlaw-2807 147 24 there there PRON taxlaw-2807 147 25 is be VERB taxlaw-2807 147 26 significant significant ADJ taxlaw-2807 147 27 value value NOUN taxlaw-2807 147 28 fluctuation fluctuation NOUN taxlaw-2807 147 29 and and CCONJ taxlaw-2807 147 30 a a DET taxlaw-2807 147 31 progressive progressive ADJ taxlaw-2807 147 32 tax tax NOUN taxlaw-2807 147 33 rate rate NOUN taxlaw-2807 147 34 is be AUX taxlaw-2807 147 35 employed employ VERB taxlaw-2807 147 36 . . PUNCT taxlaw-2807 148 1 see see VERB taxlaw-2807 148 2 jeffrey jeffrey PROPN taxlaw-2807 148 3 b. b. PROPN taxlaw-2807 148 4 liebman liebman PROPN taxlaw-2807 148 5 , , PUNCT taxlaw-2807 148 6 should should AUX taxlaw-2807 148 7 taxes taxis NOUN taxlaw-2807 148 8 be be AUX taxlaw-2807 148 9 based base VERB taxlaw-2807 148 10 on on ADP taxlaw-2807 148 11 lifetime lifetime NOUN taxlaw-2807 148 12 income income NOUN taxlaw-2807 148 13 ? ? PUNCT taxlaw-2807 149 1 vickrey vickrey PROPN taxlaw-2807 149 2 taxation taxation NOUN taxlaw-2807 149 3 revisited revisit VERB taxlaw-2807 149 4 ( ( PUNCT taxlaw-2807 149 5 december december PROPN taxlaw-2807 149 6 2003 2003 NUM taxlaw-2807 149 7 ) ) PUNCT taxlaw-2807 149 8 ( ( PUNCT taxlaw-2807 149 9 unpublished unpublished ADJ taxlaw-2807 149 10 manuscript manuscript NOUN taxlaw-2807 149 11 ) ) PUNCT taxlaw-2807 149 12 , , PUNCT taxlaw-2807 149 13 available available ADJ taxlaw-2807 149 14 at at ADP taxlaw-2807 149 15 http://www.ksg.harvard.edu/jeffreyliebman/vickreydec2003.pdf http://www.ksg.harvard.edu/jeffreyliebman/vickreydec2003.pdf PROPN taxlaw-2807 149 16 . . PUNCT taxlaw-2807 150 1 27 27 NUM taxlaw-2807 150 2 see see VERB taxlaw-2807 150 3 mccaffery mccaffery NOUN taxlaw-2807 150 4 , , PUNCT taxlaw-2807 150 5 supra supra PROPN taxlaw-2807 150 6 note note NOUN taxlaw-2807 150 7 11 11 NUM taxlaw-2807 150 8 , , PUNCT taxlaw-2807 150 9 at at ADP taxlaw-2807 150 10 888 888 NUM taxlaw-2807 150 11 . . NOUN taxlaw-2807 150 12 28 28 NUM taxlaw-2807 150 13 this this DET taxlaw-2807 150 14 concept concept NOUN taxlaw-2807 150 15 calculates calculate VERB taxlaw-2807 150 16 taxpayers taxpayer NOUN taxlaw-2807 150 17 ’ ’ PART taxlaw-2807 150 18 income income NOUN taxlaw-2807 150 19 in in ADP taxlaw-2807 150 20 a a DET taxlaw-2807 150 21 given give VERB taxlaw-2807 150 22 period period NOUN taxlaw-2807 150 23 by by ADP taxlaw-2807 150 24 measuring measure VERB taxlaw-2807 150 25 their their PRON taxlaw-2807 150 26 overall overall ADJ taxlaw-2807 150 27 consumption consumption NOUN taxlaw-2807 150 28 and and CCONJ taxlaw-2807 150 29 net net ADJ taxlaw-2807 150 30 increase increase NOUN taxlaw-2807 150 31 in in ADP taxlaw-2807 150 32 the the DET taxlaw-2807 150 33 fair fair ADJ taxlaw-2807 150 34 market market NOUN taxlaw-2807 150 35 value value NOUN taxlaw-2807 150 36 of of ADP taxlaw-2807 150 37 their their PRON taxlaw-2807 150 38 assets asset NOUN taxlaw-2807 150 39 . . PUNCT taxlaw-2807 151 1 haig haig PROPN taxlaw-2807 151 2 - - PUNCT taxlaw-2807 151 3 simons simons PROPN taxlaw-2807 151 4 taxation taxation NOUN taxlaw-2807 151 5 focuses focus VERB taxlaw-2807 151 6 on on ADP taxlaw-2807 151 7 asset asset NOUN taxlaw-2807 151 8 appreciation appreciation NOUN taxlaw-2807 151 9 and and CCONJ taxlaw-2807 151 10 depreciation depreciation NOUN taxlaw-2807 151 11 , , PUNCT taxlaw-2807 151 12 not not PART taxlaw-2807 151 13 on on ADP taxlaw-2807 151 14 whether whether SCONJ taxlaw-2807 151 15 the the DET taxlaw-2807 151 16 assets asset NOUN taxlaw-2807 151 17 were be AUX taxlaw-2807 151 18 sold sell VERB taxlaw-2807 151 19 . . PUNCT taxlaw-2807 152 1 it it PRON taxlaw-2807 152 2 would would AUX taxlaw-2807 152 3 therefore therefore ADV taxlaw-2807 152 4 not not PART taxlaw-2807 152 5 include include VERB taxlaw-2807 152 6 a a DET taxlaw-2807 152 7 realization realization NOUN taxlaw-2807 152 8 requirement requirement NOUN taxlaw-2807 152 9 . . PUNCT taxlaw-2807 153 1 see see VERB taxlaw-2807 153 2 henry henry PROPN taxlaw-2807 153 3 c. c. PROPN taxlaw-2807 153 4 simons simons PROPN taxlaw-2807 153 5 , , PUNCT taxlaw-2807 153 6 personal personal ADJ taxlaw-2807 153 7 income income NOUN taxlaw-2807 153 8 taxation taxation NOUN taxlaw-2807 153 9 : : PUNCT taxlaw-2807 153 10 the the DET taxlaw-2807 153 11 definition definition NOUN taxlaw-2807 153 12 of of ADP taxlaw-2807 153 13 income income NOUN taxlaw-2807 153 14 as as ADP taxlaw-2807 153 15 a a DET taxlaw-2807 153 16 problem problem NOUN taxlaw-2807 153 17 of of ADP taxlaw-2807 153 18 fiscal fiscal ADJ taxlaw-2807 153 19 policy policy NOUN taxlaw-2807 153 20 50 50 NUM taxlaw-2807 153 21 ( ( PUNCT taxlaw-2807 153 22 1938 1938 NUM taxlaw-2807 153 23 ) ) PUNCT taxlaw-2807 153 24 ; ; PUNCT taxlaw-2807 153 25 robert robert PROPN taxlaw-2807 153 26 m. m. PROPN taxlaw-2807 153 27 haig haig PROPN taxlaw-2807 153 28 , , PUNCT taxlaw-2807 153 29 the the DET taxlaw-2807 153 30 concept concept NOUN taxlaw-2807 153 31 of of ADP taxlaw-2807 153 32 income income NOUN taxlaw-2807 153 33 — — PUNCT taxlaw-2807 153 34 economics economic NOUN taxlaw-2807 153 35 and and CCONJ taxlaw-2807 153 36 legal legal ADJ taxlaw-2807 153 37 aspects aspect NOUN taxlaw-2807 153 38 , , PUNCT taxlaw-2807 153 39 in in ADP taxlaw-2807 153 40 the the DET taxlaw-2807 153 41 federal federal ADJ taxlaw-2807 153 42 income income NOUN taxlaw-2807 153 43 tax tax NOUN taxlaw-2807 153 44 1 1 NUM taxlaw-2807 153 45 , , PUNCT taxlaw-2807 153 46 7 7 NUM taxlaw-2807 153 47 ( ( PUNCT taxlaw-2807 153 48 robert robert PROPN taxlaw-2807 153 49 m. m. PROPN taxlaw-2807 153 50 haig haig PROPN taxlaw-2807 153 51 ed ed PROPN taxlaw-2807 153 52 . . PROPN taxlaw-2807 153 53 , , PUNCT taxlaw-2807 153 54 1921 1921 NUM taxlaw-2807 153 55 ) ) PUNCT taxlaw-2807 153 56 . . PUNCT taxlaw-2807 154 1 29 29 NUM taxlaw-2807 154 2 there there PRON taxlaw-2807 154 3 is be VERB taxlaw-2807 154 4 a a DET taxlaw-2807 154 5 wide wide ADJ taxlaw-2807 154 6 consensus consensus NOUN taxlaw-2807 154 7 that that SCONJ taxlaw-2807 154 8 an an DET taxlaw-2807 154 9 ideal ideal ADJ taxlaw-2807 154 10 income income NOUN taxlaw-2807 154 11 tax tax NOUN taxlaw-2807 154 12 would would AUX taxlaw-2807 154 13 adopt adopt VERB taxlaw-2807 154 14 the the DET taxlaw-2807 154 15 haig haig PROPN taxlaw-2807 154 16 - - PUNCT taxlaw-2807 154 17 simons simons PROPN taxlaw-2807 154 18 concept concept NOUN taxlaw-2807 154 19 of of ADP taxlaw-2807 154 20 the the DET taxlaw-2807 154 21 income income NOUN taxlaw-2807 154 22 tax tax NOUN taxlaw-2807 154 23 base base NOUN taxlaw-2807 154 24 . . PUNCT taxlaw-2807 155 1 see see VERB taxlaw-2807 155 2 , , PUNCT taxlaw-2807 155 3 e.g. e.g. ADV taxlaw-2807 155 4 , , PUNCT taxlaw-2807 155 5 graetz graetz PROPN taxlaw-2807 155 6 & & CCONJ taxlaw-2807 155 7 schenk schenk PROPN taxlaw-2807 155 8 , , PUNCT taxlaw-2807 155 9 supra supra PROPN taxlaw-2807 155 10 note note PROPN taxlaw-2807 155 11 1 1 NUM taxlaw-2807 155 12 , , PUNCT taxlaw-2807 155 13 at at ADP taxlaw-2807 155 14 97 97 NUM taxlaw-2807 155 15 ; ; PUNCT taxlaw-2807 155 16 fellows fellow NOUN taxlaw-2807 155 17 , , PUNCT taxlaw-2807 155 18 supra supra PROPN taxlaw-2807 155 19 note note NOUN taxlaw-2807 155 20 1 1 NUM taxlaw-2807 155 21 , , PUNCT taxlaw-2807 155 22 at at ADP taxlaw-2807 155 23 723–24 723–24 NUM taxlaw-2807 155 24 ; ; PUNCT taxlaw-2807 155 25 stephen stephen PROPN taxlaw-2807 155 26 b. b. PROPN taxlaw-2807 155 27 land land PROPN taxlaw-2807 155 28 , , PUNCT taxlaw-2807 155 29 defeating defeat VERB taxlaw-2807 155 30 deferral deferral NOUN taxlaw-2807 155 31 : : PUNCT taxlaw-2807 155 32 a a DET taxlaw-2807 155 33 proposal proposal NOUN taxlaw-2807 155 34 for for ADP taxlaw-2807 155 35 retrospective retrospective ADJ taxlaw-2807 155 36 taxation taxation NOUN taxlaw-2807 155 37 , , PUNCT taxlaw-2807 155 38 52 52 NUM taxlaw-2807 155 39 tax tax NOUN taxlaw-2807 155 40 l. l. PROPN taxlaw-2807 155 41 rev rev PROPN taxlaw-2807 155 42 . . PROPN taxlaw-2807 155 43 45 45 NUM taxlaw-2807 155 44 , , PUNCT taxlaw-2807 155 45 48 48 NUM taxlaw-2807 155 46 ( ( PUNCT taxlaw-2807 155 47 1996 1996 NUM taxlaw-2807 155 48 ) ) PUNCT taxlaw-2807 155 49 ; ; PUNCT taxlaw-2807 156 1 schenk schenk PROPN taxlaw-2807 156 2 , , PUNCT taxlaw-2807 156 3 supra supra PROPN taxlaw-2807 156 4 note note PROPN taxlaw-2807 156 5 10 10 NUM taxlaw-2807 156 6 , , PUNCT taxlaw-2807 156 7 at at ADP taxlaw-2807 156 8 631–32 631–32 NUM taxlaw-2807 156 9 ; ; PUNCT taxlaw-2807 156 10 michael michael PROPN taxlaw-2807 156 11 j. j. PROPN taxlaw-2807 156 12 stepek stepek PROPN taxlaw-2807 156 13 , , PUNCT taxlaw-2807 156 14 the the DET taxlaw-2807 156 15 tax tax NOUN taxlaw-2807 156 16 reform reform NOUN taxlaw-2807 156 17 act act NOUN taxlaw-2807 156 18 of of ADP taxlaw-2807 156 19 1986 1986 NUM taxlaw-2807 156 20 : : PUNCT taxlaw-2807 156 21 simplification simplification NOUN taxlaw-2807 156 22 and and CCONJ taxlaw-2807 156 23 the the DET taxlaw-2807 156 24 future future ADJ taxlaw-2807 156 25 viability viability NOUN taxlaw-2807 156 26 of of ADP taxlaw-2807 156 27 accrual accrual ADJ taxlaw-2807 156 28 taxation taxation NOUN taxlaw-2807 156 29 , , PUNCT taxlaw-2807 156 30 62 62 NUM taxlaw-2807 156 31 notre notre PROPN taxlaw-2807 156 32 dame dame PROPN taxlaw-2807 156 33 l. l. PROPN taxlaw-2807 156 34 rev rev PROPN taxlaw-2807 156 35 . . PROPN taxlaw-2807 156 36 779 779 NUM taxlaw-2807 156 37 , , PUNCT taxlaw-2807 156 38 785–86 785–86 NUM taxlaw-2807 156 39 ( ( PUNCT taxlaw-2807 156 40 1987 1987 NUM taxlaw-2807 156 41 ) ) PUNCT taxlaw-2807 156 42 ; ; PUNCT taxlaw-2807 156 43 weisbach weisbach NOUN taxlaw-2807 156 44 , , PUNCT taxlaw-2807 156 45 supra supra ADJ taxlaw-2807 156 46 note note NOUN taxlaw-2807 156 47 1 1 NUM taxlaw-2807 156 48 , , PUNCT taxlaw-2807 156 49 at at ADP taxlaw-2807 156 50 95 95 NUM taxlaw-2807 156 51 . . PUNCT taxlaw-2807 157 1 this this DET taxlaw-2807 157 2 concept concept NOUN taxlaw-2807 157 3 calculates calculate VERB taxlaw-2807 157 4 taxpayers taxpayer NOUN taxlaw-2807 157 5 ’ ’ PART taxlaw-2807 157 6 income income NOUN taxlaw-2807 157 7 in in ADP taxlaw-2807 157 8 a a DET taxlaw-2807 157 9 given give VERB taxlaw-2807 157 10 period period NOUN taxlaw-2807 157 11 by by ADP taxlaw-2807 157 12 measuring measure VERB taxlaw-2807 157 13 their their PRON taxlaw-2807 157 14 overall overall ADJ taxlaw-2807 157 15 consumption consumption NOUN taxlaw-2807 157 16 and and CCONJ taxlaw-2807 157 17 net net ADJ taxlaw-2807 157 18 increase increase NOUN taxlaw-2807 157 19 in in ADP taxlaw-2807 157 20 the the DET taxlaw-2807 157 21 fair fair ADJ taxlaw-2807 157 22 market market NOUN taxlaw-2807 157 23 value value NOUN taxlaw-2807 157 24 of of ADP taxlaw-2807 157 25 their their PRON taxlaw-2807 157 26 assets asset NOUN taxlaw-2807 157 27 . . PUNCT taxlaw-2807 158 1 30 30 NUM taxlaw-2807 158 2 see see VERB taxlaw-2807 158 3 shaviro shaviro NOUN taxlaw-2807 158 4 , , PUNCT taxlaw-2807 158 5 supra supra PROPN taxlaw-2807 158 6 note note NOUN taxlaw-2807 158 7 1 1 NUM taxlaw-2807 158 8 , , PUNCT taxlaw-2807 158 9 at at ADP taxlaw-2807 158 10 1–2 1–2 NUM taxlaw-2807 158 11 . . PUNCT taxlaw-2807 159 1 2011 2011 NUM taxlaw-2807 159 2 ] ] PUNCT taxlaw-2807 159 3 realization realization NOUN taxlaw-2807 159 4 and and CCONJ taxlaw-2807 159 5 progressivity progressivity NOUN taxlaw-2807 159 6 51 51 NUM taxlaw-2807 159 7 the the DET taxlaw-2807 159 8 current current ADJ taxlaw-2807 159 9 realization realization NOUN taxlaw-2807 159 10 - - PUNCT taxlaw-2807 159 11 based base VERB taxlaw-2807 159 12 income income NOUN taxlaw-2807 159 13 tax tax NOUN taxlaw-2807 159 14 system system NOUN taxlaw-2807 159 15 aims aim VERB taxlaw-2807 159 16 to to PART taxlaw-2807 159 17 levy levy VERB taxlaw-2807 159 18 tax tax NOUN taxlaw-2807 159 19 according accord VERB taxlaw-2807 159 20 to to ADP taxlaw-2807 159 21 individuals individual NOUN taxlaw-2807 159 22 ’ ’ PART taxlaw-2807 159 23 incomes income NOUN taxlaw-2807 159 24 , , PUNCT taxlaw-2807 159 25 but but CCONJ taxlaw-2807 159 26 in in ADP taxlaw-2807 159 27 fact fact NOUN taxlaw-2807 159 28 it it PRON taxlaw-2807 159 29 relies rely VERB taxlaw-2807 159 30 on on ADP taxlaw-2807 159 31 transactional transactional ADJ taxlaw-2807 159 32 realization realization NOUN taxlaw-2807 159 33 triggers trigger NOUN taxlaw-2807 159 34 that that PRON taxlaw-2807 159 35 may may AUX taxlaw-2807 159 36 have have VERB taxlaw-2807 159 37 nothing nothing PRON taxlaw-2807 159 38 to to PART taxlaw-2807 159 39 do do VERB taxlaw-2807 159 40 with with ADP taxlaw-2807 159 41 income.31 income.31 NOUN taxlaw-2807 159 42 this this DET taxlaw-2807 159 43 tax tax NOUN taxlaw-2807 159 44 regime regime NOUN taxlaw-2807 159 45 , , PUNCT taxlaw-2807 159 46 however however ADV taxlaw-2807 159 47 , , PUNCT taxlaw-2807 159 48 is be AUX taxlaw-2807 159 49 not not PART taxlaw-2807 159 50 truly truly ADV taxlaw-2807 159 51 transactional transactional ADJ taxlaw-2807 159 52 either either ADV taxlaw-2807 159 53 , , PUNCT taxlaw-2807 159 54 because because SCONJ taxlaw-2807 159 55 it it PRON taxlaw-2807 159 56 requires require VERB taxlaw-2807 159 57 that that SCONJ taxlaw-2807 159 58 assets asset NOUN taxlaw-2807 159 59 appreciate appreciate VERB taxlaw-2807 159 60 in in ADP taxlaw-2807 159 61 value value NOUN taxlaw-2807 159 62 for for SCONJ taxlaw-2807 159 63 the the DET taxlaw-2807 159 64 tax tax NOUN taxlaw-2807 159 65 to to PART taxlaw-2807 159 66 be be AUX taxlaw-2807 159 67 triggered trigger VERB taxlaw-2807 159 68 . . PUNCT taxlaw-2807 160 1 under under ADP taxlaw-2807 160 2 the the DET taxlaw-2807 160 3 current current ADJ taxlaw-2807 160 4 system system NOUN taxlaw-2807 160 5 , , PUNCT taxlaw-2807 160 6 taxes taxis NOUN taxlaw-2807 160 7 are be AUX taxlaw-2807 160 8 only only ADV taxlaw-2807 160 9 paid pay VERB taxlaw-2807 160 10 if if SCONJ taxlaw-2807 160 11 a a DET taxlaw-2807 160 12 transaction transaction NOUN taxlaw-2807 160 13 occurred occur VERB taxlaw-2807 160 14 and and CCONJ taxlaw-2807 160 15 gains gain NOUN taxlaw-2807 160 16 were be AUX taxlaw-2807 160 17 realized realize VERB taxlaw-2807 160 18 . . PUNCT taxlaw-2807 161 1 this this DET taxlaw-2807 161 2 dual dual ADJ taxlaw-2807 161 3 requirement requirement NOUN taxlaw-2807 161 4 grants grant NOUN taxlaw-2807 161 5 taxpayers taxpayer VERB taxlaw-2807 161 6 the the DET taxlaw-2807 161 7 ability ability NOUN taxlaw-2807 161 8 to to PART taxlaw-2807 161 9 structure structure VERB taxlaw-2807 161 10 their their PRON taxlaw-2807 161 11 transactions transaction NOUN taxlaw-2807 161 12 to to PART taxlaw-2807 161 13 attain attain VERB taxlaw-2807 161 14 certain certain ADJ taxlaw-2807 161 15 tax tax NOUN taxlaw-2807 161 16 advantages advantage NOUN taxlaw-2807 161 17 that that PRON taxlaw-2807 161 18 would would AUX taxlaw-2807 161 19 not not PART taxlaw-2807 161 20 be be AUX taxlaw-2807 161 21 available available ADJ taxlaw-2807 161 22 to to ADP taxlaw-2807 161 23 them they PRON taxlaw-2807 161 24 in in ADP taxlaw-2807 161 25 either either CCONJ taxlaw-2807 161 26 a a DET taxlaw-2807 161 27 pure pure ADJ taxlaw-2807 161 28 income income NOUN taxlaw-2807 161 29 tax tax NOUN taxlaw-2807 161 30 regime regime NOUN taxlaw-2807 161 31 or or CCONJ taxlaw-2807 161 32 a a DET taxlaw-2807 161 33 pure pure ADJ taxlaw-2807 161 34 transactional transactional ADJ taxlaw-2807 161 35 tax tax NOUN taxlaw-2807 161 36 regime.32 regime.32 VERB taxlaw-2807 161 37 the the DET taxlaw-2807 161 38 inherent inherent ADJ taxlaw-2807 161 39 conflict conflict NOUN taxlaw-2807 161 40 between between ADP taxlaw-2807 161 41 the the DET taxlaw-2807 161 42 measurement measurement NOUN taxlaw-2807 161 43 of of ADP taxlaw-2807 161 44 actual actual ADJ taxlaw-2807 161 45 income income NOUN taxlaw-2807 161 46 and and CCONJ taxlaw-2807 161 47 the the DET taxlaw-2807 161 48 transactional transactional ADJ taxlaw-2807 161 49 element element NOUN taxlaw-2807 161 50 of of ADP taxlaw-2807 161 51 realization realization NOUN taxlaw-2807 161 52 makes make VERB taxlaw-2807 161 53 the the DET taxlaw-2807 161 54 current current ADJ taxlaw-2807 161 55 realization realization NOUN taxlaw-2807 161 56 - - PUNCT taxlaw-2807 161 57 based base VERB taxlaw-2807 161 58 income income NOUN taxlaw-2807 161 59 tax tax NOUN taxlaw-2807 161 60 unworkable unworkable ADJ taxlaw-2807 161 61 . . PUNCT taxlaw-2807 162 1 policymakers policymaker NOUN taxlaw-2807 162 2 find find VERB taxlaw-2807 162 3 it it PRON taxlaw-2807 162 4 difficult difficult ADJ taxlaw-2807 162 5 to to PART taxlaw-2807 162 6 generate generate VERB taxlaw-2807 162 7 broad broad ADJ taxlaw-2807 162 8 rules rule NOUN taxlaw-2807 162 9 that that PRON taxlaw-2807 162 10 reconcile reconcile VERB taxlaw-2807 162 11 the the DET taxlaw-2807 162 12 two two NUM taxlaw-2807 162 13 notions notion NOUN taxlaw-2807 162 14 and and CCONJ taxlaw-2807 162 15 are be AUX taxlaw-2807 162 16 therefore therefore ADV taxlaw-2807 162 17 unable unable ADJ taxlaw-2807 162 18 to to PART taxlaw-2807 162 19 generate generate VERB taxlaw-2807 162 20 coherent coherent ADJ taxlaw-2807 162 21 rules rule NOUN taxlaw-2807 162 22 explaining explain VERB taxlaw-2807 162 23 what what PRON taxlaw-2807 162 24 types type NOUN taxlaw-2807 162 25 of of ADP taxlaw-2807 162 26 transactions transaction NOUN taxlaw-2807 162 27 amount amount NOUN taxlaw-2807 162 28 to to ADP taxlaw-2807 162 29 a a DET taxlaw-2807 162 30 realization realization NOUN taxlaw-2807 162 31 event.33 event.33 ADJ taxlaw-2807 162 32 in in ADP taxlaw-2807 162 33 terms term NOUN taxlaw-2807 162 34 of of ADP taxlaw-2807 162 35 efficiency efficiency NOUN taxlaw-2807 162 36 , , PUNCT taxlaw-2807 162 37 the the DET taxlaw-2807 162 38 realization realization NOUN taxlaw-2807 162 39 requirement requirement NOUN taxlaw-2807 162 40 leads lead VERB taxlaw-2807 162 41 well well ADV taxlaw-2807 162 42 - - PUNCT taxlaw-2807 162 43 informed inform VERB taxlaw-2807 162 44 and and CCONJ taxlaw-2807 162 45 selfinterested selfintereste VERB taxlaw-2807 162 46 taxpayers taxpayer NOUN taxlaw-2807 162 47 to to PART taxlaw-2807 162 48 sub sub VERB taxlaw-2807 162 49 - - ADJ taxlaw-2807 162 50 optimally optimally ADV taxlaw-2807 162 51 invest invest VERB taxlaw-2807 162 52 their their PRON taxlaw-2807 162 53 resources resource NOUN taxlaw-2807 162 54 in in ADP taxlaw-2807 162 55 order order NOUN taxlaw-2807 162 56 to to PART taxlaw-2807 162 57 attain attain VERB taxlaw-2807 162 58 higher high ADJ taxlaw-2807 162 59 aftertax aftertax ADJ taxlaw-2807 162 60 returns.34 returns.34 NOUN taxlaw-2807 162 61 the the DET taxlaw-2807 162 62 realization realization NOUN taxlaw-2807 162 63 requirement requirement NOUN taxlaw-2807 162 64 also also ADV taxlaw-2807 162 65 distorts distort VERB taxlaw-2807 162 66 the the DET taxlaw-2807 162 67 timing timing NOUN taxlaw-2807 162 68 of of ADP taxlaw-2807 162 69 asset asset NOUN taxlaw-2807 162 70 dispositions.35 dispositions.35 ADJ taxlaw-2807 162 71 taxpayers taxpayer NOUN taxlaw-2807 162 72 can can AUX taxlaw-2807 162 73 also also ADV taxlaw-2807 162 74 defer defer VERB taxlaw-2807 162 75 the the DET taxlaw-2807 162 76 recognition recognition NOUN taxlaw-2807 162 77 of of ADP taxlaw-2807 162 78 gains gain NOUN taxlaw-2807 162 79 but but CCONJ taxlaw-2807 162 80 selectively selectively ADV taxlaw-2807 162 81 sell sell VERB taxlaw-2807 162 82 depreciated depreciate VERB taxlaw-2807 162 83 assets asset NOUN taxlaw-2807 162 84 to to PART taxlaw-2807 162 85 enjoy enjoy VERB taxlaw-2807 162 86 the the DET taxlaw-2807 162 87 value value NOUN taxlaw-2807 162 88 of of ADP taxlaw-2807 162 89 their their PRON taxlaw-2807 162 90 losses loss NOUN taxlaw-2807 162 91 — — PUNCT taxlaw-2807 162 92 a a DET taxlaw-2807 162 93 practice practice NOUN taxlaw-2807 162 94 typically typically ADV taxlaw-2807 162 95 referred refer VERB taxlaw-2807 162 96 to to ADP taxlaw-2807 162 97 as as ADP taxlaw-2807 162 98 strategic strategic ADJ taxlaw-2807 162 99 trading.36 trading.36 NOUN taxlaw-2807 162 100 the the DET taxlaw-2807 162 101 potential potential NOUN taxlaw-2807 162 102 for for ADP taxlaw-2807 162 103 manipulation manipulation NOUN taxlaw-2807 162 104 introduced introduce VERB taxlaw-2807 162 105 by by ADP taxlaw-2807 162 106 the the DET taxlaw-2807 162 107 realization realization NOUN taxlaw-2807 162 108 requirement requirement NOUN taxlaw-2807 162 109 compels compel VERB taxlaw-2807 162 110 the the DET taxlaw-2807 162 111 tax tax NOUN taxlaw-2807 162 112 authority authority NOUN taxlaw-2807 162 113 to to PART taxlaw-2807 162 114 introduce introduce VERB taxlaw-2807 162 115 complex complex ADJ taxlaw-2807 162 116 loss loss NOUN taxlaw-2807 162 117 - - PUNCT taxlaw-2807 162 118 limitation limitation NOUN taxlaw-2807 162 119 rules rule NOUN taxlaw-2807 162 120 to to PART taxlaw-2807 162 121 protect protect VERB taxlaw-2807 162 122 the the DET taxlaw-2807 162 123 revenue revenue NOUN taxlaw-2807 162 124 base base NOUN taxlaw-2807 162 125 . . PUNCT taxlaw-2807 163 1 these these DET taxlaw-2807 163 2 rules rule NOUN taxlaw-2807 163 3 disallow disallow VERB taxlaw-2807 163 4 the the DET taxlaw-2807 163 5 deduction deduction NOUN taxlaw-2807 163 6 of of ADP taxlaw-2807 163 7 losses loss NOUN taxlaw-2807 163 8 incurred incur VERB taxlaw-2807 163 9 with with ADP taxlaw-2807 163 10 respect respect NOUN taxlaw-2807 163 11 to to ADP taxlaw-2807 163 12 certain certain ADJ taxlaw-2807 163 13 investments investment NOUN taxlaw-2807 163 14 , , PUNCT taxlaw-2807 163 15 thus thus ADV taxlaw-2807 163 16 making make VERB taxlaw-2807 163 17 them they PRON taxlaw-2807 163 18 inherently inherently ADV taxlaw-2807 163 19 riskier risky ADJ taxlaw-2807 163 20 and and CCONJ taxlaw-2807 163 21 deterring deter VERB taxlaw-2807 163 22 some some PRON taxlaw-2807 163 23 ( ( PUNCT taxlaw-2807 163 24 potentially potentially ADV taxlaw-2807 163 25 less less ADV taxlaw-2807 163 26 well well ADV taxlaw-2807 163 27 - - PUNCT taxlaw-2807 163 28 advised advise VERB taxlaw-2807 163 29 ) ) PUNCT taxlaw-2807 163 30 taxpayers taxpayer NOUN taxlaw-2807 163 31 from from ADP taxlaw-2807 163 32 making make VERB taxlaw-2807 163 33 those those PRON taxlaw-2807 163 34 investments.37 investments.37 ADJ taxlaw-2807 163 35 finally finally ADV taxlaw-2807 163 36 , , PUNCT taxlaw-2807 163 37 the the DET taxlaw-2807 163 38 realization realization NOUN taxlaw-2807 163 39 requirement requirement NOUN taxlaw-2807 163 40 results result VERB taxlaw-2807 163 41 in in ADP taxlaw-2807 163 42 significant significant ADJ taxlaw-2807 163 43 revenue revenue NOUN taxlaw-2807 163 44 loss loss NOUN taxlaw-2807 163 45 that that PRON taxlaw-2807 163 46 has have VERB taxlaw-2807 163 47 to to PART taxlaw-2807 163 48 be be AUX taxlaw-2807 163 49 compensated compensate VERB taxlaw-2807 163 50 for for ADP taxlaw-2807 163 51 — — PUNCT taxlaw-2807 163 52 either either CCONJ taxlaw-2807 163 53 by by ADP taxlaw-2807 163 54 inefficient inefficient ADJ taxlaw-2807 163 55 higher high ADJ taxlaw-2807 163 56 marginal marginal ADJ taxlaw-2807 163 57 tax tax NOUN taxlaw-2807 163 58 rates38 rates38 NOUN taxlaw-2807 163 59 or or CCONJ taxlaw-2807 163 60 lower low ADJ taxlaw-2807 163 61 ( ( PUNCT taxlaw-2807 163 62 sub sub ADJ taxlaw-2807 163 63 - - ADJ taxlaw-2807 163 64 optimal optimal ADJ taxlaw-2807 163 65 ) ) PUNCT taxlaw-2807 163 66 public public ADJ taxlaw-2807 163 67 investment.39 investment.39 NOUN taxlaw-2807 163 68 in in ADP taxlaw-2807 163 69 terms term NOUN taxlaw-2807 163 70 of of ADP taxlaw-2807 163 71 complexity complexity NOUN taxlaw-2807 163 72 and and CCONJ taxlaw-2807 163 73 uncertainty uncertainty NOUN taxlaw-2807 163 74 , , PUNCT taxlaw-2807 163 75 the the DET taxlaw-2807 163 76 transactional transactional ADJ taxlaw-2807 163 77 element element NOUN taxlaw-2807 163 78 introduced introduce VERB taxlaw-2807 163 79 by by ADP taxlaw-2807 163 80 the the DET taxlaw-2807 163 81 realization realization NOUN taxlaw-2807 163 82 requirement requirement NOUN taxlaw-2807 163 83 materially materially ADV taxlaw-2807 163 84 complicates complicate VERB taxlaw-2807 163 85 the the DET taxlaw-2807 163 86 income income NOUN taxlaw-2807 163 87 tax tax NOUN taxlaw-2807 163 88 ’s ’s PART taxlaw-2807 163 89 implementation.40 implementation.40 PROPN taxlaw-2807 163 90 policymakers policymaker NOUN taxlaw-2807 163 91 ’ ' PUNCT taxlaw-2807 163 92 attempts attempt VERB taxlaw-2807 163 93 to to PART taxlaw-2807 163 94 rein rein VERB taxlaw-2807 163 95 in in ADP taxlaw-2807 163 96 problems problem NOUN taxlaw-2807 163 97 stemming stem VERB taxlaw-2807 163 98 from from ADP taxlaw-2807 163 99 the the DET taxlaw-2807 163 100 realization realization NOUN taxlaw-2807 163 101 requirement requirement NOUN taxlaw-2807 163 102 are be AUX taxlaw-2807 163 103 the the DET taxlaw-2807 163 104 hidden hide VERB taxlaw-2807 163 105 drivers driver NOUN taxlaw-2807 163 106 of of ADP taxlaw-2807 163 107 many many ADJ taxlaw-2807 163 108 notoriously notoriously ADV taxlaw-2807 163 109 complex complex ADJ taxlaw-2807 163 110 provisions provision NOUN taxlaw-2807 163 111 and and CCONJ taxlaw-2807 163 112 regulations regulation NOUN taxlaw-2807 163 113 . . PUNCT taxlaw-2807 164 1 in in ADP taxlaw-2807 164 2 terms term NOUN taxlaw-2807 164 3 of of ADP taxlaw-2807 164 4 deferral deferral NOUN taxlaw-2807 164 5 , , PUNCT taxlaw-2807 164 6 the the DET taxlaw-2807 164 7 attempt attempt NOUN taxlaw-2807 164 8 to to PART taxlaw-2807 164 9 tax tax VERB taxlaw-2807 164 10 individuals individual NOUN taxlaw-2807 164 11 only only ADV taxlaw-2807 164 12 on on ADP taxlaw-2807 164 13 their their PRON taxlaw-2807 164 14 realized realize VERB taxlaw-2807 164 15 gains gain NOUN taxlaw-2807 164 16 and and CCONJ taxlaw-2807 164 17 losses loss NOUN taxlaw-2807 164 18 raises raise VERB taxlaw-2807 164 19 the the DET taxlaw-2807 164 20 31 31 NUM taxlaw-2807 164 21 see see NOUN taxlaw-2807 164 22 , , PUNCT taxlaw-2807 164 23 e.g. e.g. ADV taxlaw-2807 164 24 , , PUNCT taxlaw-2807 164 25 david david PROPN taxlaw-2807 164 26 m. m. PROPN taxlaw-2807 164 27 schizer schizer PROPN taxlaw-2807 164 28 , , PUNCT taxlaw-2807 164 29 balance balance NOUN taxlaw-2807 164 30 in in ADP taxlaw-2807 164 31 the the DET taxlaw-2807 164 32 taxation taxation NOUN taxlaw-2807 164 33 of of ADP taxlaw-2807 164 34 derivative derivative ADJ taxlaw-2807 164 35 securities security NOUN taxlaw-2807 164 36 : : PUNCT taxlaw-2807 164 37 an an DET taxlaw-2807 164 38 agenda agenda NOUN taxlaw-2807 164 39 for for ADP taxlaw-2807 164 40 reform reform NOUN taxlaw-2807 164 41 , , PUNCT taxlaw-2807 164 42 104 104 NUM taxlaw-2807 164 43 colum colum NOUN taxlaw-2807 164 44 . . PUNCT taxlaw-2807 165 1 l. l. PROPN taxlaw-2807 165 2 rev rev PROPN taxlaw-2807 165 3 . . PROPN taxlaw-2807 165 4 1886 1886 NUM taxlaw-2807 165 5 , , PUNCT taxlaw-2807 165 6 1893 1893 NUM taxlaw-2807 165 7 ( ( PUNCT taxlaw-2807 165 8 2004 2004 NUM taxlaw-2807 165 9 ) ) PUNCT taxlaw-2807 165 10 ( ( PUNCT taxlaw-2807 165 11 describing describe VERB taxlaw-2807 165 12 one one NUM taxlaw-2807 165 13 method method NOUN taxlaw-2807 165 14 by by ADP taxlaw-2807 165 15 which which PRON taxlaw-2807 165 16 wealthy wealthy ADJ taxlaw-2807 165 17 taxpayers taxpayer NOUN taxlaw-2807 165 18 can can AUX taxlaw-2807 165 19 reduce reduce VERB taxlaw-2807 165 20 their their PRON taxlaw-2807 165 21 tax tax NOUN taxlaw-2807 165 22 liability liability NOUN taxlaw-2807 165 23 that that PRON taxlaw-2807 165 24 is be AUX taxlaw-2807 165 25 not not PART taxlaw-2807 165 26 available available ADJ taxlaw-2807 165 27 to to ADP taxlaw-2807 165 28 those those PRON taxlaw-2807 165 29 with with ADP taxlaw-2807 165 30 less less ADJ taxlaw-2807 165 31 planning planning NOUN taxlaw-2807 165 32 advice advice NOUN taxlaw-2807 165 33 and and CCONJ taxlaw-2807 165 34 fewer few ADJ taxlaw-2807 165 35 assets asset NOUN taxlaw-2807 165 36 ) ) PUNCT taxlaw-2807 165 37 . . PUNCT taxlaw-2807 166 1 32 32 NUM taxlaw-2807 166 2 unless unless SCONJ taxlaw-2807 166 3 there there PRON taxlaw-2807 166 4 are be VERB taxlaw-2807 166 5 strong strong ADJ taxlaw-2807 166 6 non non ADJ taxlaw-2807 166 7 - - ADJ taxlaw-2807 166 8 tax tax ADJ taxlaw-2807 166 9 considerations consideration NOUN taxlaw-2807 166 10 involved involve VERB taxlaw-2807 166 11 , , PUNCT taxlaw-2807 166 12 taxpayers taxpayer NOUN taxlaw-2807 166 13 will will AUX taxlaw-2807 166 14 exercise exercise VERB taxlaw-2807 166 15 these these DET taxlaw-2807 166 16 tax tax NOUN taxlaw-2807 166 17 options option NOUN taxlaw-2807 166 18 in in ADP taxlaw-2807 166 19 a a DET taxlaw-2807 166 20 way way NOUN taxlaw-2807 166 21 that that PRON taxlaw-2807 166 22 increases increase VERB taxlaw-2807 166 23 their their PRON taxlaw-2807 166 24 overall overall ADJ taxlaw-2807 166 25 profit profit NOUN taxlaw-2807 166 26 . . PUNCT taxlaw-2807 167 1 schizer schizer NOUN taxlaw-2807 167 2 , , PUNCT taxlaw-2807 167 3 supra supra PROPN taxlaw-2807 167 4 note note NOUN taxlaw-2807 167 5 1 1 NUM taxlaw-2807 167 6 , , PUNCT taxlaw-2807 167 7 at at ADP taxlaw-2807 167 8 1555–63 1555–63 NUM taxlaw-2807 167 9 ( ( PUNCT taxlaw-2807 167 10 adding add VERB taxlaw-2807 167 11 that that SCONJ taxlaw-2807 167 12 realization realization NOUN taxlaw-2807 167 13 allows allow VERB taxlaw-2807 167 14 taxpayers taxpayer NOUN taxlaw-2807 167 15 to to PART taxlaw-2807 167 16 blunt blunt VERB taxlaw-2807 167 17 the the DET taxlaw-2807 167 18 penalty penalty NOUN taxlaw-2807 167 19 of of ADP taxlaw-2807 167 20 inflation inflation NOUN taxlaw-2807 167 21 in in ADP taxlaw-2807 167 22 a a DET taxlaw-2807 167 23 tax tax NOUN taxlaw-2807 167 24 regime regime NOUN taxlaw-2807 167 25 that that PRON taxlaw-2807 167 26 assigns assign VERB taxlaw-2807 167 27 tax tax NOUN taxlaw-2807 167 28 liabilities liability NOUN taxlaw-2807 167 29 according accord VERB taxlaw-2807 167 30 to to ADP taxlaw-2807 167 31 nominal nominal ADJ taxlaw-2807 167 32 amounts amount NOUN taxlaw-2807 167 33 ) ) PUNCT taxlaw-2807 167 34 . . PUNCT taxlaw-2807 168 1 see see VERB taxlaw-2807 168 2 , , PUNCT taxlaw-2807 168 3 e.g. e.g. ADV taxlaw-2807 168 4 , , PUNCT taxlaw-2807 168 5 myron myron PROPN taxlaw-2807 168 6 s. s. PROPN taxlaw-2807 168 7 scholes scholes PROPN taxlaw-2807 168 8 et et PROPN taxlaw-2807 168 9 al al PROPN taxlaw-2807 168 10 . . PROPN taxlaw-2807 168 11 , , PUNCT taxlaw-2807 168 12 taxes taxis NOUN taxlaw-2807 168 13 and and CCONJ taxlaw-2807 168 14 business business NOUN taxlaw-2807 168 15 strategy strategy NOUN taxlaw-2807 168 16 : : PUNCT taxlaw-2807 168 17 a a DET taxlaw-2807 168 18 planning planning NOUN taxlaw-2807 168 19 approach approach NOUN taxlaw-2807 168 20 185–89 185–89 NUM taxlaw-2807 168 21 ( ( PUNCT taxlaw-2807 168 22 4th 4th ADJ taxlaw-2807 168 23 ed ed NOUN taxlaw-2807 168 24 . . PROPN taxlaw-2807 168 25 2009 2009 NUM taxlaw-2807 168 26 ) ) PUNCT taxlaw-2807 168 27 ( ( PUNCT taxlaw-2807 168 28 discussing discuss VERB taxlaw-2807 168 29 the the DET taxlaw-2807 168 30 ability ability NOUN taxlaw-2807 168 31 of of ADP taxlaw-2807 168 32 businesses business NOUN taxlaw-2807 168 33 to to PART taxlaw-2807 168 34 choose choose VERB taxlaw-2807 168 35 between between ADP taxlaw-2807 168 36 two two NUM taxlaw-2807 168 37 inventory inventory NOUN taxlaw-2807 168 38 accounting accounting NOUN taxlaw-2807 168 39 methods method NOUN taxlaw-2807 168 40 in in ADP taxlaw-2807 168 41 order order NOUN taxlaw-2807 168 42 to to PART taxlaw-2807 168 43 minimize minimize VERB taxlaw-2807 168 44 their their PRON taxlaw-2807 168 45 tax tax NOUN taxlaw-2807 168 46 liability liability NOUN taxlaw-2807 168 47 without without ADP taxlaw-2807 168 48 affecting affect VERB taxlaw-2807 168 49 their their PRON taxlaw-2807 168 50 actual actual ADJ taxlaw-2807 168 51 business business NOUN taxlaw-2807 168 52 practices practice NOUN taxlaw-2807 168 53 ) ) PUNCT taxlaw-2807 168 54 . . PUNCT taxlaw-2807 169 1 33 33 NUM taxlaw-2807 169 2 david david PROPN taxlaw-2807 169 3 a. a. PROPN taxlaw-2807 169 4 weisbach weisbach PROPN taxlaw-2807 169 5 , , PUNCT taxlaw-2807 169 6 line line NOUN taxlaw-2807 169 7 drawing drawing NOUN taxlaw-2807 169 8 , , PUNCT taxlaw-2807 169 9 doctrine doctrine NOUN taxlaw-2807 169 10 , , PUNCT taxlaw-2807 169 11 and and CCONJ taxlaw-2807 169 12 efficiency efficiency NOUN taxlaw-2807 169 13 in in ADP taxlaw-2807 169 14 the the DET taxlaw-2807 169 15 tax tax NOUN taxlaw-2807 169 16 law law NOUN taxlaw-2807 169 17 , , PUNCT taxlaw-2807 169 18 84 84 NUM taxlaw-2807 169 19 cornell cornell PROPN taxlaw-2807 169 20 l. l. PROPN taxlaw-2807 169 21 rev rev PROPN taxlaw-2807 169 22 . . PROPN taxlaw-2807 169 23 1627 1627 NUM taxlaw-2807 169 24 , , PUNCT taxlaw-2807 169 25 1633–45 1633–45 NUM taxlaw-2807 169 26 ( ( PUNCT taxlaw-2807 169 27 1999 1999 NUM taxlaw-2807 169 28 ) ) PUNCT taxlaw-2807 169 29 . . PUNCT taxlaw-2807 170 1 34 34 NUM taxlaw-2807 170 2 scholes schole NOUN taxlaw-2807 170 3 et et PROPN taxlaw-2807 170 4 al al PROPN taxlaw-2807 170 5 . . PROPN taxlaw-2807 170 6 , , PUNCT taxlaw-2807 170 7 supra supra PROPN taxlaw-2807 170 8 note note PROPN taxlaw-2807 170 9 32 32 NUM taxlaw-2807 170 10 , , PUNCT taxlaw-2807 170 11 at at ADP taxlaw-2807 170 12 70–73 70–73 NUM taxlaw-2807 170 13 , , PUNCT taxlaw-2807 170 14 107–08 107–08 NUM taxlaw-2807 170 15 ; ; PUNCT taxlaw-2807 170 16 fellows fellow NOUN taxlaw-2807 170 17 , , PUNCT taxlaw-2807 170 18 supra supra PROPN taxlaw-2807 170 19 note note NOUN taxlaw-2807 170 20 1 1 NUM taxlaw-2807 170 21 , , PUNCT taxlaw-2807 170 22 at at ADP taxlaw-2807 170 23 727 727 NUM taxlaw-2807 170 24 ; ; PUNCT taxlaw-2807 170 25 weisbach weisbach NOUN taxlaw-2807 170 26 , , PUNCT taxlaw-2807 170 27 supra supra ADJ taxlaw-2807 170 28 note note NOUN taxlaw-2807 170 29 1 1 NUM taxlaw-2807 170 30 , , PUNCT taxlaw-2807 170 31 at at ADP taxlaw-2807 170 32 100 100 NUM taxlaw-2807 170 33 . . PUNCT taxlaw-2807 170 34 35 35 NUM taxlaw-2807 170 35 see see VERB taxlaw-2807 170 36 scholes schole NOUN taxlaw-2807 170 37 et et PROPN taxlaw-2807 170 38 al al PROPN taxlaw-2807 170 39 . . PROPN taxlaw-2807 170 40 , , PUNCT taxlaw-2807 170 41 supra supra PROPN taxlaw-2807 170 42 note note PROPN taxlaw-2807 170 43 32 32 NUM taxlaw-2807 170 44 , , PUNCT taxlaw-2807 170 45 at at ADP taxlaw-2807 170 46 5 5 NUM taxlaw-2807 170 47 . . NUM taxlaw-2807 170 48 36 36 NUM taxlaw-2807 170 49 shaviro shaviro NOUN taxlaw-2807 170 50 , , PUNCT taxlaw-2807 170 51 supra supra PROPN taxlaw-2807 170 52 note note NOUN taxlaw-2807 170 53 1 1 NUM taxlaw-2807 170 54 , , PUNCT taxlaw-2807 170 55 at at ADP taxlaw-2807 170 56 4 4 NUM taxlaw-2807 170 57 . . NOUN taxlaw-2807 170 58 37 37 NUM taxlaw-2807 170 59 land land NOUN taxlaw-2807 170 60 , , PUNCT taxlaw-2807 170 61 supra supra PROPN taxlaw-2807 170 62 note note PROPN taxlaw-2807 170 63 29 29 NUM taxlaw-2807 170 64 , , PUNCT taxlaw-2807 170 65 at at ADP taxlaw-2807 170 66 51 51 NUM taxlaw-2807 170 67 . . PUNCT taxlaw-2807 170 68 38 38 NUM taxlaw-2807 170 69 see see VERB taxlaw-2807 170 70 infra infra NOUN taxlaw-2807 170 71 notes note VERB taxlaw-2807 170 72 170–172 170–172 NUM taxlaw-2807 170 73 and and CCONJ taxlaw-2807 170 74 accompanying accompany VERB taxlaw-2807 170 75 text text NOUN taxlaw-2807 170 76 . . PUNCT taxlaw-2807 171 1 39 39 NUM taxlaw-2807 171 2 see see VERB taxlaw-2807 171 3 ilan ilan PROPN taxlaw-2807 171 4 benshalom benshalom PROPN taxlaw-2807 171 5 , , PUNCT taxlaw-2807 171 6 the the DET taxlaw-2807 171 7 dual dual ADJ taxlaw-2807 171 8 subsidy subsidy NOUN taxlaw-2807 171 9 theory theory NOUN taxlaw-2807 171 10 of of ADP taxlaw-2807 171 11 charitable charitable ADJ taxlaw-2807 171 12 deductions deduction NOUN taxlaw-2807 171 13 , , PUNCT taxlaw-2807 171 14 84 84 NUM taxlaw-2807 171 15 ind ind NOUN taxlaw-2807 171 16 . . PUNCT taxlaw-2807 172 1 l.j l.j PROPN taxlaw-2807 172 2 . . PROPN taxlaw-2807 172 3 1047 1047 NUM taxlaw-2807 172 4 , , PUNCT taxlaw-2807 172 5 1064–70 1064–70 NUM taxlaw-2807 172 6 ( ( PUNCT taxlaw-2807 172 7 2009 2009 NUM taxlaw-2807 172 8 ) ) PUNCT taxlaw-2807 172 9 ( ( PUNCT taxlaw-2807 172 10 discussing discuss VERB taxlaw-2807 172 11 what what PRON taxlaw-2807 172 12 comprises comprise VERB taxlaw-2807 172 13 an an DET taxlaw-2807 172 14 optimal optimal ADJ taxlaw-2807 172 15 allocation allocation NOUN taxlaw-2807 172 16 of of ADP taxlaw-2807 172 17 public public ADJ taxlaw-2807 172 18 goods good NOUN taxlaw-2807 172 19 ) ) PUNCT taxlaw-2807 172 20 . . PUNCT taxlaw-2807 173 1 40 40 NUM taxlaw-2807 173 2 stepek stepek NOUN taxlaw-2807 173 3 , , PUNCT taxlaw-2807 173 4 supra supra PROPN taxlaw-2807 173 5 note note PROPN taxlaw-2807 173 6 29 29 NUM taxlaw-2807 173 7 , , PUNCT taxlaw-2807 173 8 at at ADP taxlaw-2807 173 9 779 779 NUM taxlaw-2807 173 10 . . PROPN taxlaw-2807 173 11 52 52 NUM taxlaw-2807 173 12 columbia columbia PROPN taxlaw-2807 173 13 journal journal PROPN taxlaw-2807 173 14 of of ADP taxlaw-2807 173 15 tax tax NOUN taxlaw-2807 173 16 law law NOUN taxlaw-2807 173 17 [ [ X taxlaw-2807 173 18 vol.3:43 vol.3:43 X taxlaw-2807 173 19 question question NOUN taxlaw-2807 173 20 of of ADP taxlaw-2807 173 21 when when SCONJ taxlaw-2807 173 22 investors investor NOUN taxlaw-2807 173 23 in in ADP taxlaw-2807 173 24 companies company NOUN taxlaw-2807 173 25 actually actually ADV taxlaw-2807 173 26 realize realize VERB taxlaw-2807 173 27 the the DET taxlaw-2807 173 28 profits profit NOUN taxlaw-2807 173 29 of of ADP taxlaw-2807 173 30 their their PRON taxlaw-2807 173 31 investments investment NOUN taxlaw-2807 173 32 . . PUNCT taxlaw-2807 174 1 in in ADP taxlaw-2807 174 2 fact fact NOUN taxlaw-2807 174 3 , , PUNCT taxlaw-2807 174 4 two two NUM taxlaw-2807 174 5 of of ADP taxlaw-2807 174 6 the the DET taxlaw-2807 174 7 most most ADV taxlaw-2807 174 8 complex complex ADJ taxlaw-2807 174 9 areas area NOUN taxlaw-2807 174 10 of of ADP taxlaw-2807 174 11 law law NOUN taxlaw-2807 174 12 , , PUNCT taxlaw-2807 174 13 corporate corporate ADJ taxlaw-2807 174 14 and and CCONJ taxlaw-2807 174 15 partnership partnership NOUN taxlaw-2807 174 16 taxation taxation NOUN taxlaw-2807 174 17 , , PUNCT taxlaw-2807 174 18 would would AUX taxlaw-2807 174 19 be be AUX taxlaw-2807 174 20 almost almost ADV taxlaw-2807 174 21 completely completely ADV taxlaw-2807 174 22 unnecessary unnecessary ADJ taxlaw-2807 174 23 absent absent ADJ taxlaw-2807 174 24 the the DET taxlaw-2807 174 25 realization realization NOUN taxlaw-2807 174 26 requirement.41 requirement.41 NOUN taxlaw-2807 174 27 as as SCONJ taxlaw-2807 174 28 mentioned mention VERB taxlaw-2807 174 29 , , PUNCT taxlaw-2807 174 30 any any DET taxlaw-2807 174 31 realization realization NOUN taxlaw-2807 174 32 - - PUNCT taxlaw-2807 174 33 based base VERB taxlaw-2807 174 34 income income NOUN taxlaw-2807 174 35 tax tax NOUN taxlaw-2807 174 36 regime regime NOUN taxlaw-2807 174 37 needs need VERB taxlaw-2807 174 38 loss loss NOUN taxlaw-2807 174 39 - - PUNCT taxlaw-2807 174 40 limitation limitation NOUN taxlaw-2807 174 41 rules rule NOUN taxlaw-2807 174 42 to to PART taxlaw-2807 174 43 protect protect VERB taxlaw-2807 174 44 its its PRON taxlaw-2807 174 45 revenue revenue NOUN taxlaw-2807 174 46 base base NOUN taxlaw-2807 174 47 against against ADP taxlaw-2807 174 48 strategic strategic ADJ taxlaw-2807 174 49 trading.42 trading.42 NOUN taxlaw-2807 174 50 over over ADP taxlaw-2807 174 51 the the DET taxlaw-2807 174 52 years year NOUN taxlaw-2807 174 53 , , PUNCT taxlaw-2807 174 54 many many ADJ taxlaw-2807 174 55 loss loss NOUN taxlaw-2807 174 56 - - PUNCT taxlaw-2807 174 57 limitation limitation NOUN taxlaw-2807 174 58 rules rule NOUN taxlaw-2807 174 59 have have AUX taxlaw-2807 174 60 been be AUX taxlaw-2807 174 61 enacted enact VERB taxlaw-2807 174 62 to to PART taxlaw-2807 174 63 curb curb VERB taxlaw-2807 174 64 tax tax NOUN taxlaw-2807 174 65 planning planning NOUN taxlaw-2807 174 66 with with ADP taxlaw-2807 174 67 respect respect NOUN taxlaw-2807 174 68 to to ADP taxlaw-2807 174 69 income income NOUN taxlaw-2807 174 70 generated generate VERB taxlaw-2807 174 71 from from ADP taxlaw-2807 174 72 passive passive ADJ taxlaw-2807 174 73 investments investment NOUN taxlaw-2807 174 74 and and CCONJ taxlaw-2807 174 75 financial financial ADJ taxlaw-2807 174 76 assets.43 assets.43 NOUN taxlaw-2807 174 77 the the DET taxlaw-2807 174 78 rules rule NOUN taxlaw-2807 174 79 formulated formulate VERB taxlaw-2807 174 80 , , PUNCT taxlaw-2807 174 81 however however ADV taxlaw-2807 174 82 , , PUNCT taxlaw-2807 174 83 are be AUX taxlaw-2807 174 84 so so ADV taxlaw-2807 174 85 staggeringly staggeringly ADV taxlaw-2807 174 86 complex complex ADJ taxlaw-2807 174 87 that that SCONJ taxlaw-2807 174 88 commentators commentator NOUN taxlaw-2807 174 89 have have AUX taxlaw-2807 174 90 voiced voice VERB taxlaw-2807 174 91 skepticism skepticism NOUN taxlaw-2807 174 92 as as ADP taxlaw-2807 174 93 to to ADP taxlaw-2807 174 94 whether whether SCONJ taxlaw-2807 174 95 they they PRON taxlaw-2807 174 96 can can AUX taxlaw-2807 174 97 be be AUX taxlaw-2807 174 98 enforced enforce VERB taxlaw-2807 174 99 in in ADP taxlaw-2807 174 100 even even ADV taxlaw-2807 174 101 a a DET taxlaw-2807 174 102 marginally marginally ADV taxlaw-2807 174 103 coherent coherent ADJ taxlaw-2807 174 104 way.44 way.44 NOUN taxlaw-2807 174 105 as as ADV taxlaw-2807 174 106 difficult difficult ADJ taxlaw-2807 174 107 as as SCONJ taxlaw-2807 174 108 these these DET taxlaw-2807 174 109 issues issue NOUN taxlaw-2807 174 110 are be AUX taxlaw-2807 174 111 , , PUNCT taxlaw-2807 174 112 the the DET taxlaw-2807 174 113 above above ADJ taxlaw-2807 174 114 examples example NOUN taxlaw-2807 174 115 are be AUX taxlaw-2807 174 116 just just ADV taxlaw-2807 174 117 the the DET taxlaw-2807 174 118 tip tip NOUN taxlaw-2807 174 119 of of ADP taxlaw-2807 174 120 the the DET taxlaw-2807 174 121 iceberg iceberg NOUN taxlaw-2807 174 122 in in ADP taxlaw-2807 174 123 terms term NOUN taxlaw-2807 174 124 of of ADP taxlaw-2807 174 125 realization realization NOUN taxlaw-2807 174 126 ’s ’s PART taxlaw-2807 174 127 costs cost NOUN taxlaw-2807 174 128 . . PUNCT taxlaw-2807 175 1 in in ADP taxlaw-2807 175 2 terms term NOUN taxlaw-2807 175 3 of of ADP taxlaw-2807 175 4 equity equity NOUN taxlaw-2807 175 5 , , PUNCT taxlaw-2807 175 6 this this DET taxlaw-2807 175 7 distortion distortion NOUN taxlaw-2807 175 8 and and CCONJ taxlaw-2807 175 9 complexity complexity NOUN taxlaw-2807 175 10 significantly significantly ADV taxlaw-2807 175 11 reduce reduce VERB taxlaw-2807 175 12 the the DET taxlaw-2807 175 13 ability ability NOUN taxlaw-2807 175 14 of of ADP taxlaw-2807 175 15 the the DET taxlaw-2807 175 16 income income NOUN taxlaw-2807 175 17 tax tax NOUN taxlaw-2807 175 18 to to PART taxlaw-2807 175 19 effectively effectively ADV taxlaw-2807 175 20 promote promote VERB taxlaw-2807 175 21 fairness fairness NOUN taxlaw-2807 175 22 objectives objective NOUN taxlaw-2807 175 23 . . PUNCT taxlaw-2807 176 1 if if SCONJ taxlaw-2807 176 2 the the DET taxlaw-2807 176 3 income income NOUN taxlaw-2807 176 4 tax tax NOUN taxlaw-2807 176 5 is be AUX taxlaw-2807 176 6 expected expect VERB taxlaw-2807 176 7 to to PART taxlaw-2807 176 8 tax tax VERB taxlaw-2807 176 9 individuals individual NOUN taxlaw-2807 176 10 according accord VERB taxlaw-2807 176 11 to to ADP taxlaw-2807 176 12 changes change NOUN taxlaw-2807 176 13 in in ADP taxlaw-2807 176 14 their their PRON taxlaw-2807 176 15 economic economic ADJ taxlaw-2807 176 16 well well NOUN taxlaw-2807 176 17 - - PUNCT taxlaw-2807 176 18 being being NOUN taxlaw-2807 176 19 , , PUNCT taxlaw-2807 176 20 then then ADV taxlaw-2807 176 21 the the DET taxlaw-2807 176 22 realization realization NOUN taxlaw-2807 176 23 requirement requirement NOUN taxlaw-2807 176 24 is be AUX taxlaw-2807 176 25 an an DET taxlaw-2807 176 26 obvious obvious ADJ taxlaw-2807 176 27 obstacle obstacle NOUN taxlaw-2807 176 28 . . PUNCT taxlaw-2807 177 1 first first ADV taxlaw-2807 177 2 , , PUNCT taxlaw-2807 177 3 it it PRON taxlaw-2807 177 4 provides provide VERB taxlaw-2807 177 5 a a DET taxlaw-2807 177 6 tax tax NOUN taxlaw-2807 177 7 deferral deferral ADJ taxlaw-2807 177 8 benefit benefit NOUN taxlaw-2807 177 9 to to ADP taxlaw-2807 177 10 successful successful ADJ taxlaw-2807 177 11 investors investor NOUN taxlaw-2807 177 12 who who PRON taxlaw-2807 177 13 enjoy enjoy VERB taxlaw-2807 177 14 real real ADJ taxlaw-2807 177 15 , , PUNCT taxlaw-2807 177 16 unrealized unrealized ADJ taxlaw-2807 177 17 gains gain NOUN taxlaw-2807 177 18 and and CCONJ taxlaw-2807 177 19 ( ( PUNCT taxlaw-2807 177 20 through through ADP taxlaw-2807 177 21 loss loss NOUN taxlaw-2807 177 22 - - PUNCT taxlaw-2807 177 23 restriction restriction NOUN taxlaw-2807 177 24 rules rule NOUN taxlaw-2807 177 25 ) ) PUNCT taxlaw-2807 177 26 denies deny VERB taxlaw-2807 177 27 deductions deduction NOUN taxlaw-2807 177 28 to to ADP taxlaw-2807 177 29 investors investor NOUN taxlaw-2807 177 30 who who PRON taxlaw-2807 177 31 suffer suffer VERB taxlaw-2807 177 32 and and CCONJ taxlaw-2807 177 33 realize realize VERB taxlaw-2807 177 34 actual actual ADJ taxlaw-2807 177 35 losses loss NOUN taxlaw-2807 177 36 . . PUNCT taxlaw-2807 178 1 second second ADJ taxlaw-2807 178 2 , , PUNCT taxlaw-2807 178 3 since since SCONJ taxlaw-2807 178 4 unrealized unrealized ADJ taxlaw-2807 178 5 gains gain NOUN taxlaw-2807 178 6 are be AUX taxlaw-2807 178 7 frequently frequently ADV taxlaw-2807 178 8 associated associate VERB taxlaw-2807 178 9 with with ADP taxlaw-2807 178 10 capital capital NOUN taxlaw-2807 178 11 assets asset NOUN taxlaw-2807 178 12 , , PUNCT taxlaw-2807 178 13 realization realization NOUN taxlaw-2807 178 14 reduces reduce VERB taxlaw-2807 178 15 the the DET taxlaw-2807 178 16 effective effective ADJ taxlaw-2807 178 17 tax tax NOUN taxlaw-2807 178 18 rate rate NOUN taxlaw-2807 178 19 on on ADP taxlaw-2807 178 20 capital.45 capital.45 ADV taxlaw-2807 178 21 because because SCONJ taxlaw-2807 178 22 the the DET taxlaw-2807 178 23 majority majority NOUN taxlaw-2807 178 24 of of ADP taxlaw-2807 178 25 capital capital NOUN taxlaw-2807 178 26 assets asset NOUN taxlaw-2807 178 27 are be AUX taxlaw-2807 178 28 owned own VERB taxlaw-2807 178 29 by by ADP taxlaw-2807 178 30 affluent affluent ADJ taxlaw-2807 178 31 taxpayers taxpayer NOUN taxlaw-2807 178 32 , , PUNCT taxlaw-2807 178 33 the the DET taxlaw-2807 178 34 realization realization NOUN taxlaw-2807 178 35 requirement requirement NOUN taxlaw-2807 178 36 provides provide VERB taxlaw-2807 178 37 a a DET taxlaw-2807 178 38 tax tax NOUN taxlaw-2807 178 39 benefit benefit NOUN taxlaw-2807 178 40 that that PRON taxlaw-2807 178 41 is be AUX taxlaw-2807 178 42 primarily primarily ADV taxlaw-2807 178 43 skewed skewed ADJ taxlaw-2807 178 44 toward toward ADP taxlaw-2807 178 45 the the DET taxlaw-2807 178 46 wealthy.46 wealthy.46 PROPN taxlaw-2807 178 47 consequently consequently ADV taxlaw-2807 178 48 , , PUNCT taxlaw-2807 178 49 in in ADP taxlaw-2807 178 50 the the DET taxlaw-2807 178 51 current current ADJ taxlaw-2807 178 52 tax tax NOUN taxlaw-2807 178 53 regime regime NOUN taxlaw-2807 178 54 , , PUNCT taxlaw-2807 178 55 the the DET taxlaw-2807 178 56 realization realization NOUN taxlaw-2807 178 57 requirement requirement NOUN taxlaw-2807 178 58 is be AUX taxlaw-2807 178 59 justly justly ADV taxlaw-2807 178 60 viewed view VERB taxlaw-2807 178 61 as as ADP taxlaw-2807 178 62 an an DET taxlaw-2807 178 63 inherently inherently ADV taxlaw-2807 178 64 regressive regressive ADJ taxlaw-2807 178 65 feature feature NOUN taxlaw-2807 178 66 that that PRON taxlaw-2807 178 67 hinders hinder VERB taxlaw-2807 178 68 the the DET taxlaw-2807 178 69 income income NOUN taxlaw-2807 178 70 tax tax NOUN taxlaw-2807 178 71 ’s ’s PART taxlaw-2807 178 72 wealth wealth NOUN taxlaw-2807 178 73 redistribution redistribution NOUN taxlaw-2807 178 74 objectives.47 objectives.47 NOUN taxlaw-2807 178 75 the the DET taxlaw-2807 178 76 realization realization NOUN taxlaw-2807 178 77 requirement requirement NOUN taxlaw-2807 178 78 and and CCONJ taxlaw-2807 178 79 its its PRON taxlaw-2807 178 80 byproducts byproduct NOUN taxlaw-2807 178 81 undermine undermine VERB taxlaw-2807 178 82 the the DET taxlaw-2807 178 83 integrity integrity NOUN taxlaw-2807 178 84 of of ADP taxlaw-2807 178 85 the the DET taxlaw-2807 178 86 income income NOUN taxlaw-2807 178 87 tax tax NOUN taxlaw-2807 178 88 regime regime NOUN taxlaw-2807 178 89 in in ADP taxlaw-2807 178 90 almost almost ADV taxlaw-2807 178 91 every every PRON taxlaw-2807 178 92 respect respect NOUN taxlaw-2807 178 93 . . PUNCT taxlaw-2807 179 1 instead instead ADV taxlaw-2807 179 2 of of ADP taxlaw-2807 179 3 promoting promote VERB taxlaw-2807 179 4 distributive distributive ADJ taxlaw-2807 179 5 justice justice NOUN taxlaw-2807 179 6 and and CCONJ taxlaw-2807 179 7 ensuring ensure VERB taxlaw-2807 179 8 efficient efficient ADJ taxlaw-2807 179 9 allocation allocation NOUN taxlaw-2807 179 10 of of ADP taxlaw-2807 179 11 resources resource NOUN taxlaw-2807 179 12 , , PUNCT taxlaw-2807 179 13 the the DET taxlaw-2807 179 14 realization realization NOUN taxlaw-2807 179 15 requirement requirement NOUN taxlaw-2807 179 16 and and CCONJ taxlaw-2807 179 17 its its PRON taxlaw-2807 179 18 host host NOUN taxlaw-2807 179 19 of of ADP taxlaw-2807 179 20 problems problem NOUN taxlaw-2807 179 21 create create VERB taxlaw-2807 179 22 the the DET taxlaw-2807 179 23 perception perception NOUN taxlaw-2807 179 24 that that SCONJ taxlaw-2807 179 25 the the DET taxlaw-2807 179 26 tax tax NOUN taxlaw-2807 179 27 code code NOUN taxlaw-2807 179 28 is be AUX taxlaw-2807 179 29 a a DET taxlaw-2807 179 30 wasteful wasteful ADJ taxlaw-2807 179 31 and and CCONJ taxlaw-2807 179 32 arbitrary arbitrary ADJ taxlaw-2807 179 33 body body NOUN taxlaw-2807 179 34 of of ADP taxlaw-2807 179 35 law law NOUN taxlaw-2807 179 36 . . PUNCT taxlaw-2807 180 1 the the DET taxlaw-2807 180 2 discontinuities discontinuity NOUN taxlaw-2807 180 3 created create VERB taxlaw-2807 180 4 by by ADP taxlaw-2807 180 5 the the DET taxlaw-2807 180 6 requirement requirement NOUN taxlaw-2807 180 7 have have AUX taxlaw-2807 180 8 given give VERB taxlaw-2807 180 9 rise rise NOUN taxlaw-2807 180 10 to to ADP taxlaw-2807 180 11 a a DET taxlaw-2807 180 12 socially socially ADV taxlaw-2807 180 13 wasteful wasteful ADJ taxlaw-2807 180 14 tax tax NOUN taxlaw-2807 180 15 41 41 NUM taxlaw-2807 180 16 fellows fellow NOUN taxlaw-2807 180 17 , , PUNCT taxlaw-2807 180 18 supra supra PROPN taxlaw-2807 180 19 note note NOUN taxlaw-2807 180 20 1 1 NUM taxlaw-2807 180 21 , , PUNCT taxlaw-2807 180 22 at at ADP taxlaw-2807 180 23 728 728 NUM taxlaw-2807 180 24 ; ; PUNCT taxlaw-2807 180 25 jeffrey jeffrey PROPN taxlaw-2807 180 26 kwall kwall PROPN taxlaw-2807 180 27 , , PUNCT taxlaw-2807 180 28 the the DET taxlaw-2807 180 29 uncertain uncertain ADJ taxlaw-2807 180 30 case case NOUN taxlaw-2807 180 31 against against ADP taxlaw-2807 180 32 the the DET taxlaw-2807 180 33 double double ADJ taxlaw-2807 180 34 taxation taxation NOUN taxlaw-2807 180 35 of of ADP taxlaw-2807 180 36 corporate corporate ADJ taxlaw-2807 180 37 income income NOUN taxlaw-2807 180 38 , , PUNCT taxlaw-2807 180 39 68 68 NUM taxlaw-2807 180 40 n.c n.c PROPN taxlaw-2807 180 41 . . PROPN taxlaw-2807 180 42 l. l. PROPN taxlaw-2807 180 43 rev rev PROPN taxlaw-2807 180 44 . . PROPN taxlaw-2807 181 1 613 613 NUM taxlaw-2807 181 2 , , PUNCT taxlaw-2807 181 3 628–630 628–630 NUM taxlaw-2807 181 4 ( ( PUNCT taxlaw-2807 181 5 1990 1990 NUM taxlaw-2807 181 6 ) ) PUNCT taxlaw-2807 181 7 ; ; PUNCT taxlaw-2807 181 8 land land NOUN taxlaw-2807 181 9 , , PUNCT taxlaw-2807 181 10 supra supra PROPN taxlaw-2807 181 11 note note PROPN taxlaw-2807 181 12 29 29 NUM taxlaw-2807 181 13 , , PUNCT taxlaw-2807 181 14 at at ADP taxlaw-2807 181 15 54 54 NUM taxlaw-2807 181 16 ; ; PUNCT taxlaw-2807 181 17 schenk schenk PROPN taxlaw-2807 181 18 , , PUNCT taxlaw-2807 181 19 supra supra PROPN taxlaw-2807 181 20 note note PROPN taxlaw-2807 181 21 12 12 NUM taxlaw-2807 181 22 , , PUNCT taxlaw-2807 181 23 at at ADP taxlaw-2807 181 24 369 369 NUM taxlaw-2807 181 25 ( ( PUNCT taxlaw-2807 181 26 “ " PUNCT taxlaw-2807 181 27 if if SCONJ taxlaw-2807 181 28 c c PROPN taxlaw-2807 181 29 corporations corporation NOUN taxlaw-2807 181 30 and and CCONJ taxlaw-2807 181 31 pass pass VERB taxlaw-2807 181 32 - - PUNCT taxlaw-2807 181 33 through through ADP taxlaw-2807 181 34 entities entity NOUN taxlaw-2807 181 35 were be AUX taxlaw-2807 181 36 valued value VERB taxlaw-2807 181 37 annually annually ADV taxlaw-2807 181 38 , , PUNCT taxlaw-2807 181 39 almost almost ADV taxlaw-2807 181 40 all all PRON taxlaw-2807 181 41 of of ADP taxlaw-2807 181 42 subchapters subchapter NOUN taxlaw-2807 181 43 c c X taxlaw-2807 181 44 , , PUNCT taxlaw-2807 181 45 s s X taxlaw-2807 181 46 , , PUNCT taxlaw-2807 181 47 and and CCONJ taxlaw-2807 181 48 k k PROPN taxlaw-2807 181 49 could could AUX taxlaw-2807 181 50 be be AUX taxlaw-2807 181 51 repealed repeal VERB taxlaw-2807 181 52 . . PUNCT taxlaw-2807 181 53 ” " PUNCT taxlaw-2807 181 54 ) ) PUNCT taxlaw-2807 181 55 . . PUNCT taxlaw-2807 182 1 42 42 NUM taxlaw-2807 182 2 see see VERB taxlaw-2807 182 3 supra supra PROPN taxlaw-2807 182 4 note note PROPN taxlaw-2807 182 5 36 36 NUM taxlaw-2807 182 6 and and CCONJ taxlaw-2807 182 7 accompanying accompany VERB taxlaw-2807 182 8 text text NOUN taxlaw-2807 182 9 . . PUNCT taxlaw-2807 183 1 43 43 NUM taxlaw-2807 183 2 the the DET taxlaw-2807 183 3 mobility mobility NOUN taxlaw-2807 183 4 and and CCONJ taxlaw-2807 183 5 fungibility fungibility NOUN taxlaw-2807 183 6 of of ADP taxlaw-2807 183 7 those those DET taxlaw-2807 183 8 assets asset NOUN taxlaw-2807 183 9 , , PUNCT taxlaw-2807 183 10 along along ADP taxlaw-2807 183 11 with with ADP taxlaw-2807 183 12 financers financer NOUN taxlaw-2807 183 13 ’ ' PUNCT taxlaw-2807 183 14 unlimited unlimited ADJ taxlaw-2807 183 15 ability ability NOUN taxlaw-2807 183 16 to to PART taxlaw-2807 183 17 infinitely infinitely ADV taxlaw-2807 183 18 slice slice VERB taxlaw-2807 183 19 and and CCONJ taxlaw-2807 183 20 dice dice VERB taxlaw-2807 183 21 them they PRON taxlaw-2807 183 22 , , PUNCT taxlaw-2807 183 23 lead lead VERB taxlaw-2807 183 24 to to ADP taxlaw-2807 183 25 fears fear NOUN taxlaw-2807 183 26 that that SCONJ taxlaw-2807 183 27 tax tax NOUN taxlaw-2807 183 28 planners planner NOUN taxlaw-2807 183 29 can can AUX taxlaw-2807 183 30 structure structure VERB taxlaw-2807 183 31 cash cash NOUN taxlaw-2807 183 32 flow flow NOUN taxlaw-2807 183 33 positions position NOUN taxlaw-2807 183 34 without without ADP taxlaw-2807 183 35 realizing realize VERB taxlaw-2807 183 36 income income NOUN taxlaw-2807 183 37 . . PUNCT taxlaw-2807 184 1 graetz graetz PROPN taxlaw-2807 184 2 & & CCONJ taxlaw-2807 184 3 schenk schenk PROPN taxlaw-2807 184 4 , , PUNCT taxlaw-2807 184 5 supra supra PROPN taxlaw-2807 184 6 note note PROPN taxlaw-2807 184 7 1 1 NUM taxlaw-2807 184 8 , , PUNCT taxlaw-2807 184 9 at at ADP taxlaw-2807 184 10 623–26 623–26 NOUN taxlaw-2807 184 11 ; ; PUNCT taxlaw-2807 184 12 ilan ilan PROPN taxlaw-2807 184 13 benshalom benshalom PROPN taxlaw-2807 184 14 , , PUNCT taxlaw-2807 184 15 how how SCONJ taxlaw-2807 184 16 to to PART taxlaw-2807 184 17 live live VERB taxlaw-2807 184 18 with with ADP taxlaw-2807 184 19 a a DET taxlaw-2807 184 20 tax tax NOUN taxlaw-2807 184 21 code code NOUN taxlaw-2807 184 22 with with ADP taxlaw-2807 184 23 which which PRON taxlaw-2807 184 24 you you PRON taxlaw-2807 184 25 disagree disagree VERB taxlaw-2807 184 26 : : PUNCT taxlaw-2807 184 27 doctrine doctrine NOUN taxlaw-2807 184 28 , , PUNCT taxlaw-2807 184 29 optimal optimal ADJ taxlaw-2807 184 30 tax tax NOUN taxlaw-2807 184 31 , , PUNCT taxlaw-2807 184 32 common common ADJ taxlaw-2807 184 33 sense sense NOUN taxlaw-2807 184 34 , , PUNCT taxlaw-2807 184 35 and and CCONJ taxlaw-2807 184 36 the the DET taxlaw-2807 184 37 debt debt NOUN taxlaw-2807 184 38 equity equity NOUN taxlaw-2807 184 39 distinction distinction NOUN taxlaw-2807 184 40 , , PUNCT taxlaw-2807 184 41 88 88 NUM taxlaw-2807 184 42 n.c n.c PROPN taxlaw-2807 184 43 . . PROPN taxlaw-2807 184 44 l. l. PROPN taxlaw-2807 184 45 rev rev PROPN taxlaw-2807 184 46 . . PROPN taxlaw-2807 184 47 1217 1217 NUM taxlaw-2807 184 48 , , PUNCT taxlaw-2807 184 49 1219–20 1219–20 NUM taxlaw-2807 184 50 ( ( PUNCT taxlaw-2807 184 51 2010 2010 NUM taxlaw-2807 184 52 ) ) PUNCT taxlaw-2807 184 53 . . PUNCT taxlaw-2807 185 1 44 44 NUM taxlaw-2807 186 1 the the DET taxlaw-2807 186 2 passive passive ADJ taxlaw-2807 186 3 loss loss NOUN taxlaw-2807 186 4 restrictions restriction NOUN taxlaw-2807 186 5 and and CCONJ taxlaw-2807 186 6 various various ADJ taxlaw-2807 186 7 constructive constructive ADJ taxlaw-2807 186 8 ownership ownership NOUN taxlaw-2807 186 9 and and CCONJ taxlaw-2807 186 10 sale sale NOUN taxlaw-2807 186 11 requirements requirement NOUN taxlaw-2807 186 12 with with ADP taxlaw-2807 186 13 respect respect NOUN taxlaw-2807 186 14 to to ADP taxlaw-2807 186 15 financial financial ADJ taxlaw-2807 186 16 instruments instrument NOUN taxlaw-2807 186 17 are be AUX taxlaw-2807 186 18 additional additional ADJ taxlaw-2807 186 19 examples example NOUN taxlaw-2807 186 20 of of ADP taxlaw-2807 186 21 the the DET taxlaw-2807 186 22 remarkably remarkably ADV taxlaw-2807 186 23 complex complex ADJ taxlaw-2807 186 24 rules rule NOUN taxlaw-2807 186 25 that that PRON taxlaw-2807 186 26 aim aim VERB taxlaw-2807 186 27 to to PART taxlaw-2807 186 28 control control VERB taxlaw-2807 186 29 selective selective ADJ taxlaw-2807 186 30 loss loss NOUN taxlaw-2807 186 31 realization realization NOUN taxlaw-2807 186 32 . . PUNCT taxlaw-2807 187 1 graetz graetz PROPN taxlaw-2807 187 2 & & CCONJ taxlaw-2807 187 3 schenk schenk PROPN taxlaw-2807 187 4 , , PUNCT taxlaw-2807 187 5 supra supra PROPN taxlaw-2807 187 6 note note PROPN taxlaw-2807 187 7 1 1 NUM taxlaw-2807 187 8 , , PUNCT taxlaw-2807 187 9 at at ADP taxlaw-2807 187 10 391–93 391–93 PROPN taxlaw-2807 187 11 . . PROPN taxlaw-2807 188 1 45 45 NUM taxlaw-2807 188 2 noël noël PROPN taxlaw-2807 188 3 b. b. PROPN taxlaw-2807 188 4 cunningham cunningham PROPN taxlaw-2807 188 5 , , PUNCT taxlaw-2807 188 6 the the DET taxlaw-2807 188 7 taxation taxation NOUN taxlaw-2807 188 8 of of ADP taxlaw-2807 188 9 capital capital NOUN taxlaw-2807 188 10 income income NOUN taxlaw-2807 188 11 and and CCONJ taxlaw-2807 188 12 the the DET taxlaw-2807 188 13 choice choice NOUN taxlaw-2807 188 14 of of ADP taxlaw-2807 188 15 tax tax NOUN taxlaw-2807 188 16 base base NOUN taxlaw-2807 188 17 , , PUNCT taxlaw-2807 188 18 52 52 NUM taxlaw-2807 188 19 tax tax NOUN taxlaw-2807 188 20 l. l. PROPN taxlaw-2807 188 21 rev rev PROPN taxlaw-2807 188 22 . . PROPN taxlaw-2807 188 23 17 17 NUM taxlaw-2807 188 24 , , PUNCT taxlaw-2807 188 25 41 41 NUM taxlaw-2807 188 26 ( ( PUNCT taxlaw-2807 188 27 1996 1996 NUM taxlaw-2807 188 28 ) ) PUNCT taxlaw-2807 188 29 . . PUNCT taxlaw-2807 189 1 46 46 NUM taxlaw-2807 189 2 see see VERB taxlaw-2807 189 3 g. g. PROPN taxlaw-2807 189 4 william william PROPN taxlaw-2807 189 5 domhoff domhoff PROPN taxlaw-2807 189 6 , , PUNCT taxlaw-2807 189 7 wealth wealth NOUN taxlaw-2807 189 8 , , PUNCT taxlaw-2807 189 9 income income NOUN taxlaw-2807 189 10 , , PUNCT taxlaw-2807 189 11 and and CCONJ taxlaw-2807 189 12 power power NOUN taxlaw-2807 189 13 , , PUNCT taxlaw-2807 189 14 who who PRON taxlaw-2807 189 15 rules rule VERB taxlaw-2807 189 16 america america PROPN taxlaw-2807 189 17 ? ? PUNCT taxlaw-2807 190 1 ( ( PUNCT taxlaw-2807 190 2 last last ADV taxlaw-2807 190 3 updated update VERB taxlaw-2807 190 4 nov nov PROPN taxlaw-2807 190 5 . . PROPN taxlaw-2807 190 6 2011 2011 NUM taxlaw-2807 190 7 ) ) PUNCT taxlaw-2807 190 8 , , PUNCT taxlaw-2807 190 9 http://sociology.ucsc.edu/whorulesamerica/power/wealth.html http://sociology.ucsc.edu/whorulesamerica/power/wealth.html PROPN taxlaw-2807 190 10 , , PUNCT taxlaw-2807 190 11 for for ADP taxlaw-2807 190 12 distributional distributional ADJ taxlaw-2807 190 13 tables table NOUN taxlaw-2807 190 14 showing show VERB taxlaw-2807 190 15 that that SCONJ taxlaw-2807 190 16 , , PUNCT taxlaw-2807 190 17 in in ADP taxlaw-2807 190 18 2004 2004 NUM taxlaw-2807 190 19 , , PUNCT taxlaw-2807 190 20 the the DET taxlaw-2807 190 21 top top ADJ taxlaw-2807 190 22 1 1 NUM taxlaw-2807 190 23 % % NOUN taxlaw-2807 190 24 of of ADP taxlaw-2807 190 25 u.s u.s PROPN taxlaw-2807 190 26 . . PROPN taxlaw-2807 190 27 citizens citizen NOUN taxlaw-2807 190 28 in in ADP taxlaw-2807 190 29 terms term NOUN taxlaw-2807 190 30 of of ADP taxlaw-2807 190 31 net net ADJ taxlaw-2807 190 32 worth worth NOUN taxlaw-2807 190 33 controlled control VERB taxlaw-2807 190 34 34.3 34.3 NUM taxlaw-2807 190 35 % % NOUN taxlaw-2807 190 36 of of ADP taxlaw-2807 190 37 the the DET taxlaw-2807 190 38 country country NOUN taxlaw-2807 190 39 ’s ’s PART taxlaw-2807 190 40 overall overall ADJ taxlaw-2807 190 41 wealth wealth NOUN taxlaw-2807 190 42 ; ; PUNCT taxlaw-2807 190 43 george george PROPN taxlaw-2807 190 44 r. r. PROPN taxlaw-2807 190 45 zodrow zodrow PROPN taxlaw-2807 190 46 , , PUNCT taxlaw-2807 190 47 economic economic ADJ taxlaw-2807 190 48 analyses analysis NOUN taxlaw-2807 190 49 of of ADP taxlaw-2807 190 50 capital capital NOUN taxlaw-2807 190 51 gains gain NOUN taxlaw-2807 190 52 taxation taxation NOUN taxlaw-2807 190 53 : : PUNCT taxlaw-2807 190 54 realizations realization NOUN taxlaw-2807 190 55 , , PUNCT taxlaw-2807 190 56 revenues revenue NOUN taxlaw-2807 190 57 , , PUNCT taxlaw-2807 190 58 efficiency efficiency NOUN taxlaw-2807 190 59 and and CCONJ taxlaw-2807 190 60 equity equity NOUN taxlaw-2807 190 61 , , PUNCT taxlaw-2807 190 62 48 48 NUM taxlaw-2807 190 63 tax tax NOUN taxlaw-2807 190 64 l. l. PROPN taxlaw-2807 190 65 rev rev PROPN taxlaw-2807 190 66 . . PROPN taxlaw-2807 190 67 419 419 NUM taxlaw-2807 190 68 , , PUNCT taxlaw-2807 190 69 492–93 492–93 NUM taxlaw-2807 190 70 ( ( PUNCT taxlaw-2807 190 71 1993 1993 NUM taxlaw-2807 190 72 ) ) PUNCT taxlaw-2807 190 73 . . PUNCT taxlaw-2807 191 1 47 47 NUM taxlaw-2807 191 2 chorvat chorvat NOUN taxlaw-2807 191 3 , , PUNCT taxlaw-2807 191 4 supra supra PROPN taxlaw-2807 191 5 note note NOUN taxlaw-2807 191 6 22 22 NUM taxlaw-2807 191 7 , , PUNCT taxlaw-2807 191 8 at at ADP taxlaw-2807 191 9 91 91 NUM taxlaw-2807 191 10 . . PUNCT taxlaw-2807 191 11 see see VERB taxlaw-2807 191 12 generally generally ADV taxlaw-2807 191 13 david david PROPN taxlaw-2807 191 14 kamin kamin PROPN taxlaw-2807 191 15 , , PUNCT taxlaw-2807 191 16 what what PRON taxlaw-2807 191 17 is be AUX taxlaw-2807 191 18 a a DET taxlaw-2807 191 19 progressive progressive ADJ taxlaw-2807 191 20 tax tax NOUN taxlaw-2807 191 21 change change NOUN taxlaw-2807 191 22 ? ? PUNCT taxlaw-2807 191 23 : : PUNCT taxlaw-2807 191 24 unmasking unmask VERB taxlaw-2807 191 25 hidden hidden ADJ taxlaw-2807 191 26 values value NOUN taxlaw-2807 191 27 in in ADP taxlaw-2807 191 28 distributional distributional ADJ taxlaw-2807 191 29 debates debate NOUN taxlaw-2807 191 30 , , PUNCT taxlaw-2807 191 31 83 83 NUM taxlaw-2807 191 32 n.y.u n.y.u NOUN taxlaw-2807 191 33 . . PUNCT taxlaw-2807 192 1 l. l. PROPN taxlaw-2807 192 2 rev rev PROPN taxlaw-2807 192 3 . . PROPN taxlaw-2807 192 4 241 241 NUM taxlaw-2807 192 5 ( ( PUNCT taxlaw-2807 192 6 2008 2008 NUM taxlaw-2807 192 7 ) ) PUNCT taxlaw-2807 192 8 ( ( PUNCT taxlaw-2807 192 9 discussing discuss VERB taxlaw-2807 192 10 different different ADJ taxlaw-2807 192 11 criteria criterion NOUN taxlaw-2807 192 12 for for ADP taxlaw-2807 192 13 what what PRON taxlaw-2807 192 14 may may AUX taxlaw-2807 192 15 be be AUX taxlaw-2807 192 16 considered consider VERB taxlaw-2807 192 17 a a DET taxlaw-2807 192 18 progressive progressive ADJ taxlaw-2807 192 19 change change NOUN taxlaw-2807 192 20 in in ADP taxlaw-2807 192 21 the the DET taxlaw-2807 192 22 tax tax NOUN taxlaw-2807 192 23 system system NOUN taxlaw-2807 192 24 ) ) PUNCT taxlaw-2807 192 25 . . PUNCT taxlaw-2807 193 1 2011 2011 NUM taxlaw-2807 193 2 ] ] PUNCT taxlaw-2807 193 3 realization realization NOUN taxlaw-2807 193 4 and and CCONJ taxlaw-2807 193 5 progressivity progressivity NOUN taxlaw-2807 193 6 53 53 NUM taxlaw-2807 193 7 planning planning NOUN taxlaw-2807 193 8 industry.48 industry.48 PROPN taxlaw-2807 193 9 given give VERB taxlaw-2807 193 10 realization realization NOUN taxlaw-2807 193 11 ’s ’s PART taxlaw-2807 193 12 obvious obvious ADJ taxlaw-2807 193 13 and and CCONJ taxlaw-2807 193 14 harmful harmful ADJ taxlaw-2807 193 15 faults fault NOUN taxlaw-2807 193 16 , , PUNCT taxlaw-2807 193 17 one one PRON taxlaw-2807 193 18 can can AUX taxlaw-2807 193 19 only only ADV taxlaw-2807 193 20 wonder wonder VERB taxlaw-2807 193 21 why why SCONJ taxlaw-2807 193 22 policymakers policymaker NOUN taxlaw-2807 193 23 have have AUX taxlaw-2807 193 24 not not PART taxlaw-2807 193 25 seriously seriously ADV taxlaw-2807 193 26 considered consider VERB taxlaw-2807 193 27 any any DET taxlaw-2807 193 28 meaningful meaningful ADJ taxlaw-2807 193 29 alternative alternative NOUN taxlaw-2807 193 30 . . PUNCT taxlaw-2807 194 1 b. b. PROPN taxlaw-2807 194 2 technical technical PROPN taxlaw-2807 194 3 in in ADP taxlaw-2807 194 4 nature nature NOUN taxlaw-2807 194 5 — — PUNCT taxlaw-2807 194 6 the the DET taxlaw-2807 194 7 valuation valuation NOUN taxlaw-2807 194 8 liquidity liquidity PROPN taxlaw-2807 194 9 consensus consensus NOUN taxlaw-2807 194 10 tax tax NOUN taxlaw-2807 194 11 academics academic NOUN taxlaw-2807 194 12 widely widely ADV taxlaw-2807 194 13 perceive perceive VERB taxlaw-2807 194 14 the the DET taxlaw-2807 194 15 realization realization NOUN taxlaw-2807 194 16 requirement requirement NOUN taxlaw-2807 194 17 as as ADP taxlaw-2807 194 18 having have VERB taxlaw-2807 194 19 little little ADJ taxlaw-2807 194 20 , , PUNCT taxlaw-2807 194 21 if if SCONJ taxlaw-2807 194 22 any any PRON taxlaw-2807 194 23 , , PUNCT taxlaw-2807 194 24 theoretical theoretical ADJ taxlaw-2807 194 25 or or CCONJ taxlaw-2807 194 26 policy policy NOUN taxlaw-2807 194 27 justification justification NOUN taxlaw-2807 194 28 . . PUNCT taxlaw-2807 195 1 nevertheless nevertheless ADV taxlaw-2807 195 2 , , PUNCT taxlaw-2807 195 3 contemporary contemporary ADJ taxlaw-2807 195 4 tax tax NOUN taxlaw-2807 195 5 scholarship scholarship NOUN taxlaw-2807 195 6 rarely rarely ADV taxlaw-2807 195 7 takes take VERB taxlaw-2807 195 8 on on ADP taxlaw-2807 195 9 the the DET taxlaw-2807 195 10 requirement requirement NOUN taxlaw-2807 195 11 , , PUNCT taxlaw-2807 195 12 adopting adopt VERB taxlaw-2807 195 13 a a DET taxlaw-2807 195 14 “ " PUNCT taxlaw-2807 195 15 cross cross NOUN taxlaw-2807 195 16 we we PRON taxlaw-2807 195 17 must must AUX taxlaw-2807 195 18 bear bear VERB taxlaw-2807 195 19 ” " PUNCT taxlaw-2807 195 20 approach approach NOUN taxlaw-2807 195 21 to to ADP taxlaw-2807 195 22 its its PRON taxlaw-2807 195 23 problems problem NOUN taxlaw-2807 195 24 . . PUNCT taxlaw-2807 196 1 realization realization NOUN taxlaw-2807 196 2 ’s ’s PART taxlaw-2807 196 3 endurance endurance NOUN taxlaw-2807 196 4 is be AUX taxlaw-2807 196 5 generally generally ADV taxlaw-2807 196 6 explained explain VERB taxlaw-2807 196 7 in in ADP taxlaw-2807 196 8 terms term NOUN taxlaw-2807 196 9 of of ADP taxlaw-2807 196 10 two two NUM taxlaw-2807 196 11 tax tax NOUN taxlaw-2807 196 12 - - PUNCT taxlaw-2807 196 13 administration administration NOUN taxlaw-2807 196 14 concerns concern NOUN taxlaw-2807 196 15 : : PUNCT taxlaw-2807 196 16 problems problem NOUN taxlaw-2807 196 17 of of ADP taxlaw-2807 196 18 low low ADJ taxlaw-2807 196 19 taxpayer taxpayer NOUN taxlaw-2807 196 20 liquidity liquidity NOUN taxlaw-2807 196 21 and and CCONJ taxlaw-2807 196 22 the the DET taxlaw-2807 196 23 technical technical ADJ taxlaw-2807 196 24 difficulty difficulty NOUN taxlaw-2807 196 25 of of ADP taxlaw-2807 196 26 valuing value VERB taxlaw-2807 196 27 assets.49 assets.49 NOUN taxlaw-2807 196 28 this this DET taxlaw-2807 196 29 subpart subpart NOUN taxlaw-2807 196 30 briefly briefly NOUN taxlaw-2807 196 31 explains explain VERB taxlaw-2807 196 32 and and CCONJ taxlaw-2807 196 33 evaluates evaluate VERB taxlaw-2807 196 34 these these DET taxlaw-2807 196 35 views view NOUN taxlaw-2807 196 36 . . PUNCT taxlaw-2807 197 1 with with ADP taxlaw-2807 197 2 respect respect NOUN taxlaw-2807 197 3 to to ADP taxlaw-2807 197 4 liquidity liquidity NOUN taxlaw-2807 197 5 , , PUNCT taxlaw-2807 197 6 realization realization NOUN taxlaw-2807 197 7 makes make VERB taxlaw-2807 197 8 the the DET taxlaw-2807 197 9 tax tax NOUN taxlaw-2807 197 10 collection collection NOUN taxlaw-2807 197 11 process process NOUN taxlaw-2807 197 12 relatively relatively ADV taxlaw-2807 197 13 easy easy ADJ taxlaw-2807 197 14 because because SCONJ taxlaw-2807 197 15 it it PRON taxlaw-2807 197 16 avoids avoid VERB taxlaw-2807 197 17 the the DET taxlaw-2807 197 18 tax tax NOUN taxlaw-2807 197 19 - - PUNCT taxlaw-2807 197 20 without without ADP taxlaw-2807 197 21 - - PUNCT taxlaw-2807 197 22 cash cash NOUN taxlaw-2807 197 23 problem problem NOUN taxlaw-2807 197 24 . . PUNCT taxlaw-2807 198 1 assets asset NOUN taxlaw-2807 198 2 are be AUX taxlaw-2807 198 3 typically typically ADV taxlaw-2807 198 4 exchanged exchange VERB taxlaw-2807 198 5 for for ADP taxlaw-2807 198 6 cash cash NOUN taxlaw-2807 198 7 , , PUNCT taxlaw-2807 198 8 so so SCONJ taxlaw-2807 198 9 taxpayers taxpayer NOUN taxlaw-2807 198 10 have have VERB taxlaw-2807 198 11 the the DET taxlaw-2807 198 12 necessary necessary ADJ taxlaw-2807 198 13 cash cash NOUN taxlaw-2807 198 14 to to PART taxlaw-2807 198 15 cover cover VERB taxlaw-2807 198 16 the the DET taxlaw-2807 198 17 tax tax NOUN taxlaw-2807 198 18 liability liability NOUN taxlaw-2807 198 19 at at ADP taxlaw-2807 198 20 the the DET taxlaw-2807 198 21 time time NOUN taxlaw-2807 198 22 of of ADP taxlaw-2807 198 23 sale.50 sale.50 PROPN taxlaw-2807 198 24 in in ADP taxlaw-2807 198 25 contrast contrast NOUN taxlaw-2807 198 26 , , PUNCT taxlaw-2807 198 27 a a DET taxlaw-2807 198 28 mark mark NOUN taxlaw-2807 198 29 - - PUNCT taxlaw-2807 198 30 to to ADP taxlaw-2807 198 31 - - PUNCT taxlaw-2807 198 32 market market NOUN taxlaw-2807 198 33 regime regime NOUN taxlaw-2807 198 34 may may AUX taxlaw-2807 198 35 force force VERB taxlaw-2807 198 36 cash cash NOUN taxlaw-2807 198 37 - - PUNCT taxlaw-2807 198 38 poor poor ADJ taxlaw-2807 198 39 taxpayers taxpayer NOUN taxlaw-2807 198 40 to to PART taxlaw-2807 198 41 sell sell VERB taxlaw-2807 198 42 assets asset NOUN taxlaw-2807 198 43 to to PART taxlaw-2807 198 44 pay pay VERB taxlaw-2807 198 45 their their PRON taxlaw-2807 198 46 tax tax NOUN taxlaw-2807 198 47 liabilities liability NOUN taxlaw-2807 198 48 on on ADP taxlaw-2807 198 49 unrealized unrealized ADJ taxlaw-2807 198 50 profits profit NOUN taxlaw-2807 198 51 . . PUNCT taxlaw-2807 199 1 hence hence ADV taxlaw-2807 199 2 , , PUNCT taxlaw-2807 199 3 a a DET taxlaw-2807 199 4 mark mark NOUN taxlaw-2807 199 5 - - PUNCT taxlaw-2807 199 6 to to ADP taxlaw-2807 199 7 - - PUNCT taxlaw-2807 199 8 market market NOUN taxlaw-2807 199 9 system system NOUN taxlaw-2807 199 10 would would AUX taxlaw-2807 199 11 require require VERB taxlaw-2807 199 12 policymakers policymaker NOUN taxlaw-2807 199 13 and and CCONJ taxlaw-2807 199 14 tax tax NOUN taxlaw-2807 199 15 authorities authority NOUN taxlaw-2807 199 16 to to PART taxlaw-2807 199 17 undertake undertake VERB taxlaw-2807 199 18 a a DET taxlaw-2807 199 19 politically politically ADV taxlaw-2807 199 20 unpopular unpopular ADJ taxlaw-2807 199 21 and and CCONJ taxlaw-2807 199 22 legally legally ADV taxlaw-2807 199 23 complicated complicated ADJ taxlaw-2807 199 24 position position NOUN taxlaw-2807 199 25 of of ADP taxlaw-2807 199 26 dealing deal VERB taxlaw-2807 199 27 with with ADP taxlaw-2807 199 28 some some DET taxlaw-2807 199 29 taxpayers taxpayer NOUN taxlaw-2807 199 30 ’ ’ PART taxlaw-2807 199 31 inability inability NOUN taxlaw-2807 199 32 to to PART taxlaw-2807 199 33 produce produce VERB taxlaw-2807 199 34 the the DET taxlaw-2807 199 35 cash cash NOUN taxlaw-2807 199 36 necessary necessary ADJ taxlaw-2807 199 37 to to PART taxlaw-2807 199 38 pay pay VERB taxlaw-2807 199 39 taxes taxis NOUN taxlaw-2807 199 40 . . PUNCT taxlaw-2807 200 1 much much ADJ taxlaw-2807 200 2 of of ADP taxlaw-2807 200 3 the the DET taxlaw-2807 200 4 political political ADJ taxlaw-2807 200 5 traction traction NOUN taxlaw-2807 200 6 of of ADP taxlaw-2807 200 7 the the DET taxlaw-2807 200 8 income income NOUN taxlaw-2807 200 9 tax tax NOUN taxlaw-2807 200 10 relates relate VERB taxlaw-2807 200 11 to to ADP taxlaw-2807 200 12 the the DET taxlaw-2807 200 13 way way NOUN taxlaw-2807 200 14 it it PRON taxlaw-2807 200 15 considers consider VERB taxlaw-2807 200 16 taxpayers taxpayer NOUN taxlaw-2807 200 17 ’ ' PUNCT taxlaw-2807 200 18 ability ability NOUN taxlaw-2807 200 19 to to PART taxlaw-2807 200 20 pay pay VERB taxlaw-2807 200 21 and and CCONJ taxlaw-2807 200 22 , , PUNCT taxlaw-2807 200 23 through through ADP taxlaw-2807 200 24 the the DET taxlaw-2807 200 25 realization realization NOUN taxlaw-2807 200 26 requirement requirement NOUN taxlaw-2807 200 27 , , PUNCT taxlaw-2807 200 28 does do AUX taxlaw-2807 200 29 not not PART taxlaw-2807 200 30 disrupt disrupt VERB taxlaw-2807 200 31 taxpayers taxpayer NOUN taxlaw-2807 200 32 ’ ’ PART taxlaw-2807 200 33 affairs affair NOUN taxlaw-2807 200 34 by by ADP taxlaw-2807 200 35 requiring require VERB taxlaw-2807 200 36 them they PRON taxlaw-2807 200 37 to to PART taxlaw-2807 200 38 sell sell VERB taxlaw-2807 200 39 assets asset NOUN taxlaw-2807 200 40 or or CCONJ taxlaw-2807 200 41 borrow borrow VERB taxlaw-2807 200 42 money money NOUN taxlaw-2807 200 43 to to PART taxlaw-2807 200 44 pay pay VERB taxlaw-2807 200 45 their their PRON taxlaw-2807 200 46 taxes taxis NOUN taxlaw-2807 200 47 . . PUNCT taxlaw-2807 201 1 problems problem NOUN taxlaw-2807 201 2 associated associate VERB taxlaw-2807 201 3 with with ADP taxlaw-2807 201 4 taxpayers taxpayer NOUN taxlaw-2807 201 5 ’ ' PUNCT taxlaw-2807 201 6 liquidity liquidity NOUN taxlaw-2807 201 7 could could AUX taxlaw-2807 201 8 be be AUX taxlaw-2807 201 9 dealt deal VERB taxlaw-2807 201 10 with with ADP taxlaw-2807 201 11 in in ADP taxlaw-2807 201 12 a a DET taxlaw-2807 201 13 mark mark NOUN taxlaw-2807 201 14 - - PUNCT taxlaw-2807 201 15 tomarket tomarket NOUN taxlaw-2807 201 16 system system NOUN taxlaw-2807 201 17 . . PUNCT taxlaw-2807 202 1 while while SCONJ taxlaw-2807 202 2 low low ADJ taxlaw-2807 202 3 liquidity liquidity NOUN taxlaw-2807 202 4 is be AUX taxlaw-2807 202 5 not not PART taxlaw-2807 202 6 a a DET taxlaw-2807 202 7 completely completely ADV taxlaw-2807 202 8 manufactured manufacture VERB taxlaw-2807 202 9 problem problem NOUN taxlaw-2807 202 10 , , PUNCT taxlaw-2807 202 11 leading lead VERB taxlaw-2807 202 12 scholars scholar NOUN taxlaw-2807 202 13 have have AUX taxlaw-2807 202 14 convincingly convincingly ADV taxlaw-2807 202 15 argued argue VERB taxlaw-2807 202 16 that that SCONJ taxlaw-2807 202 17 problems problem NOUN taxlaw-2807 202 18 associated associate VERB taxlaw-2807 202 19 with with ADP taxlaw-2807 202 20 liquidity liquidity NOUN taxlaw-2807 202 21 are be AUX taxlaw-2807 202 22 not not PART taxlaw-2807 202 23 substantial substantial ADJ taxlaw-2807 202 24 enough enough ADV taxlaw-2807 202 25 to to PART taxlaw-2807 202 26 justify justify VERB taxlaw-2807 202 27 the the DET taxlaw-2807 202 28 broad broad ADJ taxlaw-2807 202 29 imposition imposition NOUN taxlaw-2807 202 30 of of ADP taxlaw-2807 202 31 the the DET taxlaw-2807 202 32 realization realization NOUN taxlaw-2807 202 33 requirement.51 requirement.51 NOUN taxlaw-2807 202 34 for for ADP taxlaw-2807 202 35 example example NOUN taxlaw-2807 202 36 , , PUNCT taxlaw-2807 202 37 under under ADP taxlaw-2807 202 38 a a DET taxlaw-2807 202 39 mark mark NOUN taxlaw-2807 202 40 - - PUNCT taxlaw-2807 202 41 to to ADP taxlaw-2807 202 42 - - PUNCT taxlaw-2807 202 43 market market NOUN taxlaw-2807 202 44 regime regime NOUN taxlaw-2807 202 45 , , PUNCT taxlaw-2807 202 46 taxpayers taxpayer NOUN taxlaw-2807 202 47 would would AUX taxlaw-2807 202 48 be be AUX taxlaw-2807 202 49 likely likely ADJ taxlaw-2807 202 50 to to PART taxlaw-2807 202 51 structure structure VERB taxlaw-2807 202 52 their their PRON taxlaw-2807 202 53 investment investment NOUN taxlaw-2807 202 54 and and CCONJ taxlaw-2807 202 55 borrowing borrowing NOUN taxlaw-2807 202 56 transactions transaction NOUN taxlaw-2807 202 57 in in ADP taxlaw-2807 202 58 ways way NOUN taxlaw-2807 202 59 that that PRON taxlaw-2807 202 60 addressed address VERB taxlaw-2807 202 61 liquidity liquidity NOUN taxlaw-2807 202 62 concerns concern NOUN taxlaw-2807 202 63 by by ADP taxlaw-2807 202 64 making make VERB taxlaw-2807 202 65 sure sure ADJ taxlaw-2807 202 66 that that SCONJ taxlaw-2807 202 67 they they PRON taxlaw-2807 202 68 had have VERB taxlaw-2807 202 69 sufficient sufficient ADJ taxlaw-2807 202 70 funds fund NOUN taxlaw-2807 202 71 to to PART taxlaw-2807 202 72 pay pay VERB taxlaw-2807 202 73 their their PRON taxlaw-2807 202 74 taxes taxis NOUN taxlaw-2807 202 75 . . PUNCT taxlaw-2807 203 1 52 52 NUM taxlaw-2807 203 2 additionally additionally ADV taxlaw-2807 203 3 , , PUNCT taxlaw-2807 203 4 lawmakers lawmaker NOUN taxlaw-2807 203 5 could could AUX taxlaw-2807 203 6 provide provide VERB taxlaw-2807 203 7 exceptions exception NOUN taxlaw-2807 203 8 with with ADP taxlaw-2807 203 9 respect respect NOUN taxlaw-2807 203 10 to to ADP taxlaw-2807 203 11 certain certain ADJ taxlaw-2807 203 12 assets asset NOUN taxlaw-2807 203 13 ( ( PUNCT taxlaw-2807 203 14 e.g. e.g. ADV taxlaw-2807 203 15 , , PUNCT taxlaw-2807 203 16 residential residential ADJ taxlaw-2807 203 17 homes home NOUN taxlaw-2807 203 18 , , PUNCT taxlaw-2807 203 19 closely closely ADV taxlaw-2807 203 20 held hold VERB taxlaw-2807 203 21 corporations corporation NOUN taxlaw-2807 203 22 ) ) PUNCT taxlaw-2807 203 23 . . PUNCT taxlaw-2807 204 1 such such ADJ taxlaw-2807 204 2 provisions provision NOUN taxlaw-2807 204 3 would would AUX taxlaw-2807 204 4 assure assure VERB taxlaw-2807 204 5 that that SCONJ taxlaw-2807 204 6 liquidity liquidity NOUN taxlaw-2807 204 7 - - PUNCT taxlaw-2807 204 8 constrained constrain VERB taxlaw-2807 204 9 taxpayers taxpayer NOUN taxlaw-2807 204 10 who who PRON taxlaw-2807 204 11 owned own VERB taxlaw-2807 204 12 certain certain ADJ taxlaw-2807 204 13 appreciated appreciated ADJ taxlaw-2807 204 14 assets asset NOUN taxlaw-2807 204 15 were be AUX taxlaw-2807 204 16 not not PART taxlaw-2807 204 17 required require VERB taxlaw-2807 204 18 to to PART taxlaw-2807 204 19 pay pay VERB taxlaw-2807 204 20 the the DET taxlaw-2807 204 21 tax tax NOUN taxlaw-2807 204 22 until until SCONJ taxlaw-2807 204 23 they they PRON taxlaw-2807 204 24 sold sell VERB taxlaw-2807 204 25 the the DET taxlaw-2807 204 26 asset.53 asset.53 NOUN taxlaw-2807 204 27 these these DET taxlaw-2807 204 28 exceptions exception NOUN taxlaw-2807 204 29 could could AUX taxlaw-2807 204 30 be be AUX taxlaw-2807 204 31 structured structure VERB taxlaw-2807 204 32 so so SCONJ taxlaw-2807 204 33 that that SCONJ taxlaw-2807 204 34 when when SCONJ taxlaw-2807 204 35 the the DET taxlaw-2807 204 36 assets asset NOUN taxlaw-2807 204 37 are be AUX taxlaw-2807 204 38 eventually eventually ADV taxlaw-2807 204 39 sold sell VERB taxlaw-2807 204 40 , , PUNCT taxlaw-2807 204 41 the the DET taxlaw-2807 204 42 gains gain NOUN taxlaw-2807 204 43 are be AUX taxlaw-2807 204 44 taxed tax VERB taxlaw-2807 204 45 at at ADP taxlaw-2807 204 46 nominal nominal ADJ taxlaw-2807 204 47 rates rate NOUN taxlaw-2807 204 48 ( ( PUNCT taxlaw-2807 204 49 as as SCONJ taxlaw-2807 204 50 occurs occur VERB taxlaw-2807 204 51 under under ADP taxlaw-2807 204 52 the the DET taxlaw-2807 204 53 current current ADJ taxlaw-2807 204 54 tax tax NOUN taxlaw-2807 204 55 regime regime NOUN taxlaw-2807 204 56 ) ) PUNCT taxlaw-2807 204 57 . . PUNCT taxlaw-2807 205 1 alternatively alternatively ADV taxlaw-2807 205 2 , , PUNCT taxlaw-2807 205 3 they they PRON taxlaw-2807 205 4 could could AUX taxlaw-2807 205 5 be be AUX taxlaw-2807 205 6 taxed tax VERB taxlaw-2807 205 7 at at ADP taxlaw-2807 205 8 higher high ADJ taxlaw-2807 205 9 effective effective ADJ taxlaw-2807 205 10 tax tax NOUN taxlaw-2807 205 11 rates rate NOUN taxlaw-2807 205 12 that that PRON taxlaw-2807 205 13 tried try VERB taxlaw-2807 205 14 to to PART taxlaw-2807 205 15 capture capture VERB taxlaw-2807 205 16 the the DET taxlaw-2807 205 17 value value NOUN taxlaw-2807 205 18 of of ADP taxlaw-2807 205 19 deferral.54 deferral.54 PROPN taxlaw-2807 205 20 48 48 NUM taxlaw-2807 205 21 weisbach weisbach NOUN taxlaw-2807 205 22 , , PUNCT taxlaw-2807 205 23 supra supra ADJ taxlaw-2807 205 24 note note NOUN taxlaw-2807 205 25 1 1 NUM taxlaw-2807 205 26 , , PUNCT taxlaw-2807 205 27 at at ADP taxlaw-2807 205 28 131 131 NUM taxlaw-2807 205 29 ; ; PUNCT taxlaw-2807 205 30 david david PROPN taxlaw-2807 205 31 a. a. PROPN taxlaw-2807 205 32 weisbach weisbach PROPN taxlaw-2807 205 33 , , PUNCT taxlaw-2807 205 34 ten ten NUM taxlaw-2807 205 35 truths truth NOUN taxlaw-2807 205 36 about about ADP taxlaw-2807 205 37 tax tax NOUN taxlaw-2807 205 38 shelters shelter NOUN taxlaw-2807 205 39 , , PUNCT taxlaw-2807 205 40 55 55 NUM taxlaw-2807 205 41 tax tax NOUN taxlaw-2807 205 42 l. l. PROPN taxlaw-2807 205 43 rev rev PROPN taxlaw-2807 205 44 . . PROPN taxlaw-2807 205 45 215 215 NUM taxlaw-2807 205 46 , , PUNCT taxlaw-2807 205 47 222–26 222–26 NUM taxlaw-2807 205 48 ( ( PUNCT taxlaw-2807 205 49 2002 2002 NUM taxlaw-2807 205 50 ) ) PUNCT taxlaw-2807 205 51 . . PUNCT taxlaw-2807 206 1 49 49 NUM taxlaw-2807 206 2 see see VERB taxlaw-2807 206 3 chorvat chorvat NOUN taxlaw-2807 206 4 , , PUNCT taxlaw-2807 206 5 supra supra PROPN taxlaw-2807 206 6 note note NOUN taxlaw-2807 206 7 22 22 NUM taxlaw-2807 206 8 , , PUNCT taxlaw-2807 206 9 at at ADP taxlaw-2807 206 10 91–92 91–92 NUM taxlaw-2807 206 11 ; ; PUNCT taxlaw-2807 206 12 schenk schenk PROPN taxlaw-2807 206 13 , , PUNCT taxlaw-2807 206 14 supra supra PROPN taxlaw-2807 206 15 note note PROPN taxlaw-2807 206 16 12 12 NUM taxlaw-2807 206 17 , , PUNCT taxlaw-2807 206 18 at at ADP taxlaw-2807 206 19 360–70 360–70 PROPN taxlaw-2807 206 20 ( ( PUNCT taxlaw-2807 206 21 exploring explore VERB taxlaw-2807 206 22 these these DET taxlaw-2807 206 23 justifications justification NOUN taxlaw-2807 206 24 and and CCONJ taxlaw-2807 206 25 concluding conclude VERB taxlaw-2807 206 26 that that SCONJ taxlaw-2807 206 27 neither neither CCONJ taxlaw-2807 206 28 completely completely ADV taxlaw-2807 206 29 explains explain VERB taxlaw-2807 206 30 the the DET taxlaw-2807 206 31 requirement requirement NOUN taxlaw-2807 206 32 ) ) PUNCT taxlaw-2807 206 33 ; ; PUNCT taxlaw-2807 206 34 shakow shakow PROPN taxlaw-2807 206 35 , , PUNCT taxlaw-2807 206 36 supra supra ADJ taxlaw-2807 206 37 note note NOUN taxlaw-2807 206 38 9 9 NUM taxlaw-2807 206 39 , , PUNCT taxlaw-2807 206 40 at at ADP taxlaw-2807 206 41 1118 1118 NUM taxlaw-2807 206 42 ; ; PUNCT taxlaw-2807 206 43 shaviro shaviro NOUN taxlaw-2807 206 44 , , PUNCT taxlaw-2807 206 45 supra supra PROPN taxlaw-2807 206 46 note note NOUN taxlaw-2807 206 47 1 1 NUM taxlaw-2807 206 48 , , PUNCT taxlaw-2807 206 49 at at ADP taxlaw-2807 206 50 5 5 NUM taxlaw-2807 206 51 , , PUNCT taxlaw-2807 206 52 12–13 12–13 NUM taxlaw-2807 206 53 ; ; PUNCT taxlaw-2807 207 1 weisbach weisbach NOUN taxlaw-2807 207 2 , , PUNCT taxlaw-2807 207 3 supra supra ADJ taxlaw-2807 207 4 note note NOUN taxlaw-2807 207 5 1 1 NUM taxlaw-2807 207 6 , , PUNCT taxlaw-2807 207 7 at at ADP taxlaw-2807 207 8 95–96 95–96 NUM taxlaw-2807 207 9 ; ; PUNCT taxlaw-2807 207 10 zelinsky zelinsky ADJ taxlaw-2807 207 11 , , PUNCT taxlaw-2807 207 12 supra supra ADJ taxlaw-2807 207 13 note note NOUN taxlaw-2807 207 14 8 8 NUM taxlaw-2807 207 15 , , PUNCT taxlaw-2807 207 16 at at ADP taxlaw-2807 207 17 879 879 NUM taxlaw-2807 207 18 . . PUNCT taxlaw-2807 208 1 50 50 NUM taxlaw-2807 208 2 schenk schenk NOUN taxlaw-2807 208 3 , , PUNCT taxlaw-2807 208 4 supra supra PROPN taxlaw-2807 208 5 note note PROPN taxlaw-2807 208 6 10 10 NUM taxlaw-2807 208 7 , , PUNCT taxlaw-2807 208 8 at at ADP taxlaw-2807 208 9 630 630 NUM taxlaw-2807 208 10 . . PUNCT taxlaw-2807 208 11 51 51 NUM taxlaw-2807 208 12 see see NOUN taxlaw-2807 208 13 , , PUNCT taxlaw-2807 208 14 e.g. e.g. ADV taxlaw-2807 208 15 , , PUNCT taxlaw-2807 208 16 schenk schenk PROPN taxlaw-2807 208 17 , , PUNCT taxlaw-2807 208 18 supra supra PROPN taxlaw-2807 208 19 note note PROPN taxlaw-2807 208 20 12 12 NUM taxlaw-2807 208 21 , , PUNCT taxlaw-2807 208 22 at at ADP taxlaw-2807 208 23 360–65 360–65 NUM taxlaw-2807 208 24 ; ; PUNCT taxlaw-2807 208 25 shakow shakow PROPN taxlaw-2807 208 26 , , PUNCT taxlaw-2807 208 27 supra supra ADJ taxlaw-2807 208 28 note note NOUN taxlaw-2807 208 29 9 9 NUM taxlaw-2807 208 30 , , PUNCT taxlaw-2807 208 31 at at ADP taxlaw-2807 208 32 1167–76 1167–76 NUM taxlaw-2807 208 33 ; ; PUNCT taxlaw-2807 208 34 weisbach weisbach NOUN taxlaw-2807 208 35 , , PUNCT taxlaw-2807 208 36 supra supra ADJ taxlaw-2807 208 37 note note NOUN taxlaw-2807 208 38 1 1 NUM taxlaw-2807 208 39 , , PUNCT taxlaw-2807 208 40 at at ADP taxlaw-2807 208 41 96 96 NUM taxlaw-2807 208 42 . . PUNCT taxlaw-2807 209 1 52 52 NUM taxlaw-2807 209 2 schenk schenk NOUN taxlaw-2807 209 3 , , PUNCT taxlaw-2807 209 4 supra supra PROPN taxlaw-2807 209 5 note note PROPN taxlaw-2807 209 6 12 12 NUM taxlaw-2807 209 7 , , PUNCT taxlaw-2807 209 8 at at ADP taxlaw-2807 209 9 362 362 NUM taxlaw-2807 209 10 . . PUNCT taxlaw-2807 210 1 53 53 NUM taxlaw-2807 210 2 shakow shakow ADJ taxlaw-2807 210 3 , , PUNCT taxlaw-2807 210 4 supra supra PROPN taxlaw-2807 210 5 note note NOUN taxlaw-2807 210 6 9 9 NUM taxlaw-2807 210 7 , , PUNCT taxlaw-2807 210 8 at at ADP taxlaw-2807 210 9 1167–76 1167–76 NUM taxlaw-2807 210 10 . . PUNCT taxlaw-2807 211 1 but but CCONJ taxlaw-2807 211 2 see see VERB taxlaw-2807 211 3 zelinsky zelinsky ADJ taxlaw-2807 211 4 , , PUNCT taxlaw-2807 211 5 supra supra ADJ taxlaw-2807 211 6 note note NOUN taxlaw-2807 211 7 8 8 NUM taxlaw-2807 211 8 , , PUNCT taxlaw-2807 211 9 at at ADP taxlaw-2807 211 10 892 892 NUM taxlaw-2807 211 11 ( ( PUNCT taxlaw-2807 211 12 noting note VERB taxlaw-2807 211 13 that that SCONJ taxlaw-2807 211 14 the the DET taxlaw-2807 211 15 internal internal ADJ taxlaw-2807 211 16 revenue revenue NOUN taxlaw-2807 211 17 service service NOUN taxlaw-2807 211 18 may may AUX taxlaw-2807 211 19 find find VERB taxlaw-2807 211 20 it it PRON taxlaw-2807 211 21 very very ADV taxlaw-2807 211 22 difficult difficult ADJ taxlaw-2807 211 23 to to PART taxlaw-2807 211 24 evaluate evaluate VERB taxlaw-2807 211 25 taxpayers taxpayer NOUN taxlaw-2807 211 26 ’ ’ PART taxlaw-2807 211 27 liquidity liquidity NOUN taxlaw-2807 211 28 ) ) PUNCT taxlaw-2807 211 29 . . PUNCT taxlaw-2807 212 1 54 54 NUM taxlaw-2807 212 2 as as SCONJ taxlaw-2807 212 3 mentioned mention VERB taxlaw-2807 212 4 earlier early ADV taxlaw-2807 212 5 , , PUNCT taxlaw-2807 212 6 the the DET taxlaw-2807 212 7 deferred defer VERB taxlaw-2807 212 8 payment payment NOUN taxlaw-2807 212 9 grants grant NOUN taxlaw-2807 212 10 taxpayers taxpayer NOUN taxlaw-2807 212 11 the the DET taxlaw-2807 212 12 benefit benefit NOUN taxlaw-2807 212 13 of of ADP taxlaw-2807 212 14 enjoying enjoy VERB taxlaw-2807 212 15 the the DET taxlaw-2807 212 16 time time NOUN taxlaw-2807 212 17 value value NOUN taxlaw-2807 212 18 of of ADP taxlaw-2807 212 19 money money NOUN taxlaw-2807 212 20 . . PUNCT taxlaw-2807 213 1 see see VERB taxlaw-2807 213 2 supra supra PROPN taxlaw-2807 213 3 notes note VERB taxlaw-2807 213 4 45–47 45–47 NUM taxlaw-2807 213 5 and and CCONJ taxlaw-2807 213 6 accompanying accompany VERB taxlaw-2807 213 7 text text NOUN taxlaw-2807 213 8 . . PUNCT taxlaw-2807 214 1 the the DET taxlaw-2807 214 2 economic economic ADJ taxlaw-2807 214 3 value value NOUN taxlaw-2807 214 4 of of ADP taxlaw-2807 214 5 this this DET taxlaw-2807 214 6 benefit benefit NOUN taxlaw-2807 214 7 to to ADP taxlaw-2807 214 8 the the DET taxlaw-2807 214 9 taxpayer taxpayer NOUN taxlaw-2807 214 10 could could AUX taxlaw-2807 214 11 easily easily ADV taxlaw-2807 214 12 be be AUX taxlaw-2807 214 13 computed compute VERB taxlaw-2807 214 14 through through ADP taxlaw-2807 214 15 basic basic ADJ taxlaw-2807 214 16 finance finance NOUN taxlaw-2807 214 17 theory theory NOUN taxlaw-2807 214 18 principles principle NOUN taxlaw-2807 214 19 . . PUNCT taxlaw-2807 215 1 while while SCONJ taxlaw-2807 215 2 the the DET taxlaw-2807 215 3 tax tax NOUN taxlaw-2807 215 4 assessment assessment NOUN taxlaw-2807 215 5 could could AUX taxlaw-2807 215 6 be be AUX taxlaw-2807 215 7 made make VERB taxlaw-2807 215 8 on on ADP taxlaw-2807 215 9 an an DET taxlaw-2807 215 10 annual annual ADJ taxlaw-2807 215 11 basis basis NOUN taxlaw-2807 215 12 , , PUNCT taxlaw-2807 215 13 the the DET taxlaw-2807 215 14 taxes taxis NOUN taxlaw-2807 215 15 could could AUX taxlaw-2807 215 16 be be AUX taxlaw-2807 215 17 paid pay VERB taxlaw-2807 215 18 only only ADV taxlaw-2807 215 19 when when SCONJ taxlaw-2807 215 20 the the DET taxlaw-2807 215 21 asset asset NOUN taxlaw-2807 215 22 was be AUX taxlaw-2807 215 23 sold sell VERB taxlaw-2807 215 24 . . PUNCT taxlaw-2807 216 1 the the DET taxlaw-2807 216 2 tax tax NOUN taxlaw-2807 216 3 liability liability NOUN taxlaw-2807 216 4 would would AUX taxlaw-2807 216 5 be be AUX taxlaw-2807 216 6 54 54 NUM taxlaw-2807 216 7 columbia columbia PROPN taxlaw-2807 216 8 journal journal NOUN taxlaw-2807 216 9 of of ADP taxlaw-2807 216 10 tax tax NOUN taxlaw-2807 216 11 law law NOUN taxlaw-2807 217 1 [ [ X taxlaw-2807 217 2 vol.3:43 vol.3:43 X taxlaw-2807 217 3 the the DET taxlaw-2807 217 4 stronger strong ADJ taxlaw-2807 217 5 argument argument NOUN taxlaw-2807 217 6 in in ADP taxlaw-2807 217 7 support support NOUN taxlaw-2807 217 8 of of ADP taxlaw-2807 217 9 the the DET taxlaw-2807 217 10 realization realization NOUN taxlaw-2807 217 11 requirement requirement NOUN taxlaw-2807 217 12 is be AUX taxlaw-2807 217 13 that that SCONJ taxlaw-2807 217 14 a a DET taxlaw-2807 217 15 mark mark NOUN taxlaw-2807 217 16 - - PUNCT taxlaw-2807 217 17 tomarket tomarket NOUN taxlaw-2807 217 18 regime regime NOUN taxlaw-2807 217 19 would would AUX taxlaw-2807 217 20 require require VERB taxlaw-2807 217 21 burdensome burdensome ADJ taxlaw-2807 217 22 annual annual ADJ taxlaw-2807 217 23 asset asset NOUN taxlaw-2807 217 24 appraisal appraisal NOUN taxlaw-2807 217 25 . . PUNCT taxlaw-2807 218 1 a a DET taxlaw-2807 218 2 coherent coherent ADJ taxlaw-2807 218 3 tax tax NOUN taxlaw-2807 218 4 that that PRON taxlaw-2807 218 5 accounted account VERB taxlaw-2807 218 6 for for ADP taxlaw-2807 218 7 accrued accrued ADJ taxlaw-2807 218 8 gains gain NOUN taxlaw-2807 218 9 and and CCONJ taxlaw-2807 218 10 losses loss NOUN taxlaw-2807 218 11 would would AUX taxlaw-2807 218 12 involve involve VERB taxlaw-2807 218 13 huge huge ADJ taxlaw-2807 218 14 administrative administrative ADJ taxlaw-2807 218 15 costs cost NOUN taxlaw-2807 218 16 associated associate VERB taxlaw-2807 218 17 with with ADP taxlaw-2807 218 18 valuation.55 valuation.55 NOUN taxlaw-2807 218 19 even even ADV taxlaw-2807 218 20 the the DET taxlaw-2807 218 21 scholars scholar NOUN taxlaw-2807 218 22 who who PRON taxlaw-2807 218 23 are be AUX taxlaw-2807 218 24 most most ADV taxlaw-2807 218 25 optimistic optimistic ADJ taxlaw-2807 218 26 about about ADP taxlaw-2807 218 27 the the DET taxlaw-2807 218 28 prospect prospect NOUN taxlaw-2807 218 29 of of ADP taxlaw-2807 218 30 abolishing abolish VERB taxlaw-2807 218 31 the the DET taxlaw-2807 218 32 realization realization NOUN taxlaw-2807 218 33 requirement requirement NOUN taxlaw-2807 218 34 and and CCONJ taxlaw-2807 218 35 shifting shift VERB taxlaw-2807 218 36 to to ADP taxlaw-2807 218 37 a a DET taxlaw-2807 218 38 mark mark VERB taxlaw-2807 218 39 - - PUNCT taxlaw-2807 218 40 to to ADP taxlaw-2807 218 41 - - PUNCT taxlaw-2807 218 42 market market NOUN taxlaw-2807 218 43 regime regime NOUN taxlaw-2807 218 44 agree agree VERB taxlaw-2807 218 45 that that SCONJ taxlaw-2807 218 46 certain certain ADJ taxlaw-2807 218 47 types type NOUN taxlaw-2807 218 48 of of ADP taxlaw-2807 218 49 intangible intangible ADJ taxlaw-2807 218 50 assets asset NOUN taxlaw-2807 218 51 are be AUX taxlaw-2807 218 52 very very ADV taxlaw-2807 218 53 difficult difficult ADJ taxlaw-2807 218 54 , , PUNCT taxlaw-2807 218 55 perhaps perhaps ADV taxlaw-2807 218 56 impossible impossible ADJ taxlaw-2807 218 57 , , PUNCT taxlaw-2807 218 58 to to PART taxlaw-2807 218 59 value value VERB taxlaw-2807 218 60 with with ADP taxlaw-2807 218 61 sufficient sufficient ADJ taxlaw-2807 218 62 accuracy.56 accuracy.56 NOUN taxlaw-2807 218 63 this this DET taxlaw-2807 218 64 difficulty difficulty NOUN taxlaw-2807 218 65 raises raise VERB taxlaw-2807 218 66 significant significant ADJ taxlaw-2807 218 67 questions question NOUN taxlaw-2807 218 68 about about ADP taxlaw-2807 218 69 whether whether SCONJ taxlaw-2807 218 70 valuation valuation NOUN taxlaw-2807 218 71 provided provide VERB taxlaw-2807 218 72 by by ADP taxlaw-2807 218 73 taxpayers taxpayer NOUN taxlaw-2807 218 74 could could AUX taxlaw-2807 218 75 be be AUX taxlaw-2807 218 76 trustworthy trustworthy ADJ taxlaw-2807 218 77 — — PUNCT taxlaw-2807 218 78 a a DET taxlaw-2807 218 79 serious serious ADJ taxlaw-2807 218 80 concern concern NOUN taxlaw-2807 218 81 in in ADP taxlaw-2807 218 82 a a DET taxlaw-2807 218 83 tax tax NOUN taxlaw-2807 218 84 regime regime NOUN taxlaw-2807 218 85 dependent dependent ADJ taxlaw-2807 218 86 on on ADP taxlaw-2807 218 87 self self NOUN taxlaw-2807 218 88 - - PUNCT taxlaw-2807 218 89 assessment.57 assessment.57 NOUN taxlaw-2807 218 90 if if SCONJ taxlaw-2807 218 91 the the DET taxlaw-2807 218 92 realization realization NOUN taxlaw-2807 218 93 requirement requirement NOUN taxlaw-2807 218 94 were be AUX taxlaw-2807 218 95 abolished abolish VERB taxlaw-2807 218 96 , , PUNCT taxlaw-2807 218 97 one one PRON taxlaw-2807 218 98 could could AUX taxlaw-2807 218 99 expect expect VERB taxlaw-2807 218 100 a a DET taxlaw-2807 218 101 significant significant ADJ taxlaw-2807 218 102 increase increase NOUN taxlaw-2807 218 103 in in ADP taxlaw-2807 218 104 the the DET taxlaw-2807 218 105 amount amount NOUN taxlaw-2807 218 106 of of ADP taxlaw-2807 218 107 fact fact NOUN taxlaw-2807 218 108 intensive intensive ADJ taxlaw-2807 218 109 , , PUNCT taxlaw-2807 218 110 valuation valuation NOUN taxlaw-2807 218 111 related relate VERB taxlaw-2807 218 112 litigation litigation NOUN taxlaw-2807 218 113 between between ADP taxlaw-2807 218 114 tax tax NOUN taxlaw-2807 218 115 authorities authority NOUN taxlaw-2807 218 116 and and CCONJ taxlaw-2807 218 117 taxpayers.58 taxpayers.58 VERB taxlaw-2807 218 118 the the DET taxlaw-2807 218 119 realization realization NOUN taxlaw-2807 218 120 requirement requirement NOUN taxlaw-2807 218 121 avoids avoid VERB taxlaw-2807 218 122 these these DET taxlaw-2807 218 123 valuation valuation NOUN taxlaw-2807 218 124 problems problem NOUN taxlaw-2807 218 125 because because SCONJ taxlaw-2807 218 126 the the DET taxlaw-2807 218 127 price price NOUN taxlaw-2807 218 128 an an DET taxlaw-2807 218 129 unrelated unrelated ADJ taxlaw-2807 218 130 buyer buyer NOUN taxlaw-2807 218 131 pays pay VERB taxlaw-2807 218 132 for for ADP taxlaw-2807 218 133 the the DET taxlaw-2807 218 134 asset asset NOUN taxlaw-2807 218 135 in in ADP taxlaw-2807 218 136 a a DET taxlaw-2807 218 137 market market NOUN taxlaw-2807 218 138 exchange exchange NOUN taxlaw-2807 218 139 provides provide VERB taxlaw-2807 218 140 a a DET taxlaw-2807 218 141 strong strong ADJ taxlaw-2807 218 142 indication indication NOUN taxlaw-2807 218 143 of of ADP taxlaw-2807 218 144 the the DET taxlaw-2807 218 145 asset asset NOUN taxlaw-2807 218 146 ’s ’s PART taxlaw-2807 218 147 actual actual ADJ taxlaw-2807 218 148 value value NOUN taxlaw-2807 218 149 . . PUNCT taxlaw-2807 219 1 by by ADP taxlaw-2807 219 2 focusing focus VERB taxlaw-2807 219 3 only only ADV taxlaw-2807 219 4 on on ADP taxlaw-2807 219 5 the the DET taxlaw-2807 219 6 price price NOUN taxlaw-2807 219 7 garnered garner VERB taxlaw-2807 219 8 in in ADP taxlaw-2807 219 9 actual actual ADJ taxlaw-2807 219 10 transactions transaction NOUN taxlaw-2807 219 11 , , PUNCT taxlaw-2807 219 12 a a DET taxlaw-2807 219 13 realization realization NOUN taxlaw-2807 219 14 - - PUNCT taxlaw-2807 219 15 based base VERB taxlaw-2807 219 16 income income NOUN taxlaw-2807 219 17 tax tax NOUN taxlaw-2807 219 18 allows allow VERB taxlaw-2807 219 19 tax tax NOUN taxlaw-2807 219 20 authorities authority NOUN taxlaw-2807 219 21 and and CCONJ taxlaw-2807 219 22 taxpayers taxpayer NOUN taxlaw-2807 219 23 to to PART taxlaw-2807 219 24 avoid avoid VERB taxlaw-2807 219 25 lengthy lengthy ADJ taxlaw-2807 219 26 , , PUNCT taxlaw-2807 219 27 costly costly ADJ taxlaw-2807 219 28 , , PUNCT taxlaw-2807 219 29 and and CCONJ taxlaw-2807 219 30 inaccurate inaccurate ADJ taxlaw-2807 219 31 valuation valuation NOUN taxlaw-2807 219 32 processes process NOUN taxlaw-2807 219 33 . . PUNCT taxlaw-2807 220 1 however however ADV taxlaw-2807 220 2 , , PUNCT taxlaw-2807 220 3 this this DET taxlaw-2807 220 4 type type NOUN taxlaw-2807 220 5 of of ADP taxlaw-2807 220 6 audit audit NOUN taxlaw-2807 220 7 accuracy accuracy NOUN taxlaw-2807 220 8 comes come VERB taxlaw-2807 220 9 at at ADP taxlaw-2807 220 10 a a DET taxlaw-2807 220 11 cost cost NOUN taxlaw-2807 220 12 . . PUNCT taxlaw-2807 221 1 in in ADP taxlaw-2807 221 2 order order NOUN taxlaw-2807 221 3 to to PART taxlaw-2807 221 4 rely rely VERB taxlaw-2807 221 5 on on ADP taxlaw-2807 221 6 unrelated unrelated ADJ taxlaw-2807 221 7 parties party NOUN taxlaw-2807 221 8 ’ ' PUNCT taxlaw-2807 221 9 willingness willingness NOUN taxlaw-2807 221 10 to to PART taxlaw-2807 221 11 pay pay VERB taxlaw-2807 221 12 , , PUNCT taxlaw-2807 221 13 tax tax NOUN taxlaw-2807 221 14 authorities authority NOUN taxlaw-2807 221 15 must must AUX taxlaw-2807 221 16 wait wait VERB taxlaw-2807 221 17 , , PUNCT taxlaw-2807 221 18 often often ADV taxlaw-2807 221 19 ignoring ignore VERB taxlaw-2807 221 20 significant significant ADJ taxlaw-2807 221 21 gains gain NOUN taxlaw-2807 221 22 for for ADP taxlaw-2807 221 23 many many ADJ taxlaw-2807 221 24 years year NOUN taxlaw-2807 221 25 . . PUNCT taxlaw-2807 222 1 unlike unlike ADP taxlaw-2807 222 2 problems problem NOUN taxlaw-2807 222 3 of of ADP taxlaw-2807 222 4 liquidity liquidity NOUN taxlaw-2807 222 5 , , PUNCT taxlaw-2807 222 6 problems problem NOUN taxlaw-2807 222 7 of of ADP taxlaw-2807 222 8 valuation valuation NOUN taxlaw-2807 222 9 remain remain VERB taxlaw-2807 222 10 a a DET taxlaw-2807 222 11 major major ADJ taxlaw-2807 222 12 obstacle obstacle NOUN taxlaw-2807 222 13 to to ADP taxlaw-2807 222 14 implementing implement VERB taxlaw-2807 222 15 a a DET taxlaw-2807 222 16 mark mark NOUN taxlaw-2807 222 17 - - PUNCT taxlaw-2807 222 18 to to ADP taxlaw-2807 222 19 - - PUNCT taxlaw-2807 222 20 market market NOUN taxlaw-2807 222 21 income income NOUN taxlaw-2807 222 22 tax tax NOUN taxlaw-2807 222 23 regime regime NOUN taxlaw-2807 222 24 . . PUNCT taxlaw-2807 223 1 while while SCONJ taxlaw-2807 223 2 not not PART taxlaw-2807 223 3 denying deny VERB taxlaw-2807 223 4 their their PRON taxlaw-2807 223 5 salience salience NOUN taxlaw-2807 223 6 , , PUNCT taxlaw-2807 223 7 we we PRON taxlaw-2807 223 8 note note VERB taxlaw-2807 223 9 that that SCONJ taxlaw-2807 223 10 valuation valuation NOUN taxlaw-2807 223 11 problems problem NOUN taxlaw-2807 223 12 are be AUX taxlaw-2807 223 13 likely likely ADJ taxlaw-2807 223 14 to to PART taxlaw-2807 223 15 play play VERB taxlaw-2807 223 16 an an DET taxlaw-2807 223 17 increasingly increasingly ADV taxlaw-2807 223 18 smaller small ADJ taxlaw-2807 223 19 role role NOUN taxlaw-2807 223 20 in in ADP taxlaw-2807 223 21 tax tax NOUN taxlaw-2807 223 22 policy policy NOUN taxlaw-2807 223 23 moving move VERB taxlaw-2807 223 24 forward forward ADV taxlaw-2807 223 25 . . PUNCT taxlaw-2807 224 1 first first ADV taxlaw-2807 224 2 , , PUNCT taxlaw-2807 224 3 the the DET taxlaw-2807 224 4 problem problem NOUN taxlaw-2807 224 5 of of ADP taxlaw-2807 224 6 valuation valuation NOUN taxlaw-2807 224 7 is be AUX taxlaw-2807 224 8 constantly constantly ADV taxlaw-2807 224 9 decreasing decrease VERB taxlaw-2807 224 10 because because SCONJ taxlaw-2807 224 11 the the DET taxlaw-2807 224 12 scope scope NOUN taxlaw-2807 224 13 of of ADP taxlaw-2807 224 14 information information NOUN taxlaw-2807 224 15 markets market NOUN taxlaw-2807 224 16 is be AUX taxlaw-2807 224 17 rapidly rapidly ADV taxlaw-2807 224 18 growing grow VERB taxlaw-2807 224 19 , , PUNCT taxlaw-2807 224 20 and and CCONJ taxlaw-2807 224 21 asset asset NOUN taxlaw-2807 224 22 valuation valuation NOUN taxlaw-2807 224 23 methods method NOUN taxlaw-2807 224 24 are be AUX taxlaw-2807 224 25 improving improve VERB taxlaw-2807 224 26 over over ADP taxlaw-2807 224 27 time time NOUN taxlaw-2807 224 28 . . PUNCT taxlaw-2807 225 1 in in ADP taxlaw-2807 225 2 fact fact NOUN taxlaw-2807 225 3 , , PUNCT taxlaw-2807 225 4 because because SCONJ taxlaw-2807 225 5 of of ADP taxlaw-2807 225 6 these these DET taxlaw-2807 225 7 two two NUM taxlaw-2807 225 8 phenomena phenomenon NOUN taxlaw-2807 225 9 , , PUNCT taxlaw-2807 225 10 many many ADJ taxlaw-2807 225 11 assets asset NOUN taxlaw-2807 225 12 that that PRON taxlaw-2807 225 13 once once ADV taxlaw-2807 225 14 were be AUX taxlaw-2807 225 15 considered consider VERB taxlaw-2807 225 16 impossible impossible ADJ taxlaw-2807 225 17 to to PART taxlaw-2807 225 18 value value VERB taxlaw-2807 225 19 now now ADV taxlaw-2807 225 20 have have AUX taxlaw-2807 225 21 established establish VERB taxlaw-2807 225 22 market market NOUN taxlaw-2807 225 23 prices.59 prices.59 VERB taxlaw-2807 225 24 second second ADV taxlaw-2807 225 25 , , PUNCT taxlaw-2807 225 26 the the DET taxlaw-2807 225 27 investment investment NOUN taxlaw-2807 225 28 patterns pattern NOUN taxlaw-2807 225 29 of of ADP taxlaw-2807 225 30 society society NOUN taxlaw-2807 225 31 have have AUX taxlaw-2807 225 32 shifted.60 shifted.60 VERB taxlaw-2807 225 33 rather rather ADV taxlaw-2807 225 34 than than ADP taxlaw-2807 225 35 investing invest VERB taxlaw-2807 225 36 in in ADP taxlaw-2807 225 37 concentrated concentrated ADJ taxlaw-2807 225 38 private private ADJ taxlaw-2807 225 39 ventures venture NOUN taxlaw-2807 225 40 , , PUNCT taxlaw-2807 225 41 individuals individual NOUN taxlaw-2807 225 42 now now ADV taxlaw-2807 225 43 invest invest VERB taxlaw-2807 225 44 large large ADJ taxlaw-2807 225 45 shares share NOUN taxlaw-2807 225 46 of of ADP taxlaw-2807 225 47 their their PRON taxlaw-2807 225 48 wealth wealth NOUN taxlaw-2807 225 49 in in ADP taxlaw-2807 225 50 diversified diversified ADJ taxlaw-2807 225 51 portfolios portfolio NOUN taxlaw-2807 225 52 of of ADP taxlaw-2807 225 53 publicly publicly ADV taxlaw-2807 225 54 traded trade VERB taxlaw-2807 225 55 assets.61 assets.61 NOUN taxlaw-2807 225 56 this this DET taxlaw-2807 225 57 shift shift NOUN taxlaw-2807 225 58 means mean VERB taxlaw-2807 225 59 that that SCONJ taxlaw-2807 225 60 far far ADV taxlaw-2807 225 61 more more ADJ taxlaw-2807 225 62 of of ADP taxlaw-2807 225 63 the the DET taxlaw-2807 225 64 wealth wealth NOUN taxlaw-2807 225 65 held hold VERB taxlaw-2807 225 66 by by ADP taxlaw-2807 225 67 individuals individual NOUN taxlaw-2807 225 68 has have VERB taxlaw-2807 225 69 an an DET taxlaw-2807 225 70 established establish VERB taxlaw-2807 225 71 market market NOUN taxlaw-2807 225 72 price price NOUN taxlaw-2807 225 73 . . PUNCT taxlaw-2807 226 1 furthermore furthermore ADV taxlaw-2807 226 2 , , PUNCT taxlaw-2807 226 3 certain certain ADJ taxlaw-2807 226 4 taxpayers taxpayer NOUN taxlaw-2807 226 5 , , PUNCT taxlaw-2807 226 6 especially especially ADV taxlaw-2807 226 7 firms firm NOUN taxlaw-2807 226 8 , , PUNCT taxlaw-2807 226 9 already already ADV taxlaw-2807 226 10 engage engage VERB taxlaw-2807 226 11 in in ADP taxlaw-2807 226 12 fair fair ADJ taxlaw-2807 226 13 market market NOUN taxlaw-2807 226 14 valuation valuation NOUN taxlaw-2807 226 15 of of ADP taxlaw-2807 226 16 their their PRON taxlaw-2807 226 17 assets asset NOUN taxlaw-2807 226 18 for for ADP taxlaw-2807 226 19 tax tax NOUN taxlaw-2807 226 20 and and CCONJ taxlaw-2807 226 21 non non ADJ taxlaw-2807 226 22 - - ADJ taxlaw-2807 226 23 tax tax ADJ taxlaw-2807 226 24 reporting reporting NOUN taxlaw-2807 226 25 purposes.62 purposes.62 NOUN taxlaw-2807 226 26 this this PRON taxlaw-2807 226 27 does do AUX taxlaw-2807 226 28 not not PART taxlaw-2807 226 29 suggest suggest VERB taxlaw-2807 226 30 that that SCONJ taxlaw-2807 226 31 a a DET taxlaw-2807 226 32 shift shift NOUN taxlaw-2807 226 33 calculated calculate VERB taxlaw-2807 226 34 with with ADP taxlaw-2807 226 35 reference reference NOUN taxlaw-2807 226 36 to to ADP taxlaw-2807 226 37 the the DET taxlaw-2807 226 38 nominal nominal ADJ taxlaw-2807 226 39 gain gain NOUN taxlaw-2807 226 40 and and CCONJ taxlaw-2807 226 41 the the DET taxlaw-2807 226 42 economic economic ADJ taxlaw-2807 226 43 value value NOUN taxlaw-2807 226 44 of of ADP taxlaw-2807 226 45 deferring defer VERB taxlaw-2807 226 46 the the DET taxlaw-2807 226 47 tax tax NOUN taxlaw-2807 226 48 payment payment NOUN taxlaw-2807 226 49 . . PUNCT taxlaw-2807 227 1 shakow shakow PROPN taxlaw-2807 227 2 , , PUNCT taxlaw-2807 227 3 supra supra PROPN taxlaw-2807 227 4 note note NOUN taxlaw-2807 227 5 9 9 NUM taxlaw-2807 227 6 , , PUNCT taxlaw-2807 227 7 at at ADP taxlaw-2807 227 8 1176 1176 NUM taxlaw-2807 227 9 . . PUNCT taxlaw-2807 228 1 55 55 NUM taxlaw-2807 228 2 see see VERB taxlaw-2807 228 3 schenk schenk PROPN taxlaw-2807 228 4 , , PUNCT taxlaw-2807 228 5 supra supra PROPN taxlaw-2807 228 6 note note PROPN taxlaw-2807 228 7 10 10 NUM taxlaw-2807 228 8 , , PUNCT taxlaw-2807 228 9 at at ADP taxlaw-2807 228 10 630 630 NUM taxlaw-2807 228 11 . . PUNCT taxlaw-2807 229 1 56 56 NUM taxlaw-2807 229 2 see see VERB taxlaw-2807 229 3 brown brown ADJ taxlaw-2807 229 4 , , PUNCT taxlaw-2807 229 5 supra supra PROPN taxlaw-2807 229 6 note note NOUN taxlaw-2807 229 7 10 10 NUM taxlaw-2807 229 8 , , PUNCT taxlaw-2807 229 9 at at ADP taxlaw-2807 229 10 1587 1587 NUM taxlaw-2807 229 11 ( ( PUNCT taxlaw-2807 229 12 discussing discuss VERB taxlaw-2807 229 13 the the DET taxlaw-2807 229 14 difficulties difficulty NOUN taxlaw-2807 229 15 of of ADP taxlaw-2807 229 16 determining determine VERB taxlaw-2807 229 17 the the DET taxlaw-2807 229 18 value value NOUN taxlaw-2807 229 19 of of ADP taxlaw-2807 229 20 human human ADJ taxlaw-2807 229 21 capital capital NOUN taxlaw-2807 229 22 assets asset NOUN taxlaw-2807 229 23 ) ) PUNCT taxlaw-2807 229 24 . . PUNCT taxlaw-2807 230 1 see see VERB taxlaw-2807 230 2 also also ADV taxlaw-2807 230 3 shakow shakow VERB taxlaw-2807 230 4 , , PUNCT taxlaw-2807 230 5 supra supra ADJ taxlaw-2807 230 6 note note NOUN taxlaw-2807 230 7 9 9 NUM taxlaw-2807 230 8 , , PUNCT taxlaw-2807 230 9 at at ADP taxlaw-2807 230 10 1157–58 1157–58 NOUN taxlaw-2807 230 11 ( ( PUNCT taxlaw-2807 230 12 suggesting suggest VERB taxlaw-2807 230 13 that that SCONJ taxlaw-2807 230 14 intangibles intangible NOUN taxlaw-2807 230 15 should should AUX taxlaw-2807 230 16 not not PART taxlaw-2807 230 17 fall fall VERB taxlaw-2807 230 18 within within ADP taxlaw-2807 230 19 the the DET taxlaw-2807 230 20 scope scope NOUN taxlaw-2807 230 21 of of ADP taxlaw-2807 230 22 his his PRON taxlaw-2807 230 23 proposed propose VERB taxlaw-2807 230 24 mark mark NOUN taxlaw-2807 230 25 - - PUNCT taxlaw-2807 230 26 to to ADP taxlaw-2807 230 27 - - PUNCT taxlaw-2807 230 28 market market NOUN taxlaw-2807 230 29 regime regime NOUN taxlaw-2807 230 30 ) ) PUNCT taxlaw-2807 230 31 . . PUNCT taxlaw-2807 231 1 57 57 NUM taxlaw-2807 231 2 see see VERB taxlaw-2807 231 3 zelinsky zelinsky ADJ taxlaw-2807 231 4 , , PUNCT taxlaw-2807 231 5 supra supra ADJ taxlaw-2807 231 6 note note NOUN taxlaw-2807 231 7 8 8 NUM taxlaw-2807 231 8 , , PUNCT taxlaw-2807 231 9 at at ADP taxlaw-2807 231 10 887–88 887–88 NUM taxlaw-2807 231 11 . . PUNCT taxlaw-2807 232 1 58 58 NUM taxlaw-2807 232 2 schizer schizer NOUN taxlaw-2807 232 3 , , PUNCT taxlaw-2807 232 4 supra supra PROPN taxlaw-2807 232 5 note note NOUN taxlaw-2807 232 6 1 1 NUM taxlaw-2807 232 7 , , PUNCT taxlaw-2807 232 8 at at ADP taxlaw-2807 232 9 1594–95 1594–95 NUM taxlaw-2807 232 10 . . PUNCT taxlaw-2807 233 1 see see VERB taxlaw-2807 233 2 also also ADV taxlaw-2807 233 3 zelinsky zelinsky ADJ taxlaw-2807 233 4 , , PUNCT taxlaw-2807 233 5 supra supra ADJ taxlaw-2807 233 6 note note NOUN taxlaw-2807 233 7 8 8 NUM taxlaw-2807 233 8 , , PUNCT taxlaw-2807 233 9 at at ADP taxlaw-2807 233 10 881–82 881–82 NUM taxlaw-2807 233 11 . . PUNCT taxlaw-2807 234 1 59 59 NUM taxlaw-2807 234 2 see see VERB taxlaw-2807 234 3 david david PROPN taxlaw-2807 234 4 schmudde schmudde PROPN taxlaw-2807 234 5 , , PUNCT taxlaw-2807 234 6 responding respond VERB taxlaw-2807 234 7 to to ADP taxlaw-2807 234 8 the the DET taxlaw-2807 234 9 subprime subprime ADJ taxlaw-2807 234 10 mess mess NOUN taxlaw-2807 234 11 : : PUNCT taxlaw-2807 234 12 the the DET taxlaw-2807 234 13 new new ADJ taxlaw-2807 234 14 regulatory regulatory ADJ taxlaw-2807 234 15 landscape landscape NOUN taxlaw-2807 234 16 , , PUNCT taxlaw-2807 234 17 14 14 NUM taxlaw-2807 234 18 fordham fordham PROPN taxlaw-2807 234 19 j. j. PROPN taxlaw-2807 234 20 corp corp PROPN taxlaw-2807 234 21 . . PROPN taxlaw-2807 234 22 & & CCONJ taxlaw-2807 234 23 fin fin PROPN taxlaw-2807 234 24 . . PUNCT taxlaw-2807 235 1 l. l. PROPN taxlaw-2807 235 2 709 709 NUM taxlaw-2807 235 3 , , PUNCT taxlaw-2807 235 4 711 711 NUM taxlaw-2807 235 5 ( ( PUNCT taxlaw-2807 235 6 2009 2009 NUM taxlaw-2807 235 7 ) ) PUNCT taxlaw-2807 235 8 ( ( PUNCT taxlaw-2807 235 9 describing describe VERB taxlaw-2807 235 10 the the DET taxlaw-2807 235 11 rise rise NOUN taxlaw-2807 235 12 of of ADP taxlaw-2807 235 13 the the DET taxlaw-2807 235 14 mortgage mortgage NOUN taxlaw-2807 235 15 - - PUNCT taxlaw-2807 235 16 backed back VERB taxlaw-2807 235 17 securities security NOUN taxlaw-2807 235 18 market market NOUN taxlaw-2807 235 19 , , PUNCT taxlaw-2807 235 20 which which PRON taxlaw-2807 235 21 was be AUX taxlaw-2807 235 22 once once ADV taxlaw-2807 235 23 considered consider VERB taxlaw-2807 235 24 illiquid illiquid ADJ taxlaw-2807 235 25 ) ) PUNCT taxlaw-2807 235 26 . . PUNCT taxlaw-2807 236 1 see see VERB taxlaw-2807 236 2 also also ADV taxlaw-2807 236 3 cass cass PROPN taxlaw-2807 236 4 r. r. PROPN taxlaw-2807 236 5 sunstein sunstein PROPN taxlaw-2807 236 6 , , PUNCT taxlaw-2807 236 7 group group NOUN taxlaw-2807 236 8 judgments judgment NOUN taxlaw-2807 236 9 : : PUNCT taxlaw-2807 236 10 statistical statistical ADJ taxlaw-2807 236 11 means mean NOUN taxlaw-2807 236 12 , , PUNCT taxlaw-2807 236 13 deliberation deliberation NOUN taxlaw-2807 236 14 , , PUNCT taxlaw-2807 236 15 and and CCONJ taxlaw-2807 236 16 information information NOUN taxlaw-2807 236 17 markets market NOUN taxlaw-2807 236 18 , , PUNCT taxlaw-2807 236 19 80 80 NUM taxlaw-2807 236 20 n.y.u n.y.u NOUN taxlaw-2807 236 21 . . PUNCT taxlaw-2807 237 1 l. l. PROPN taxlaw-2807 237 2 rev rev PROPN taxlaw-2807 237 3 . . PROPN taxlaw-2807 237 4 962 962 NUM taxlaw-2807 237 5 , , PUNCT taxlaw-2807 237 6 971–74 971–74 NUM taxlaw-2807 237 7 ( ( PUNCT taxlaw-2807 237 8 2005 2005 NUM taxlaw-2807 237 9 ) ) PUNCT taxlaw-2807 237 10 ( ( PUNCT taxlaw-2807 237 11 describing describe VERB taxlaw-2807 237 12 valuation valuation NOUN taxlaw-2807 237 13 strategies strategy NOUN taxlaw-2807 237 14 in in ADP taxlaw-2807 237 15 information information NOUN taxlaw-2807 237 16 markets market NOUN taxlaw-2807 237 17 ) ) PUNCT taxlaw-2807 237 18 . . PUNCT taxlaw-2807 238 1 60 60 NUM taxlaw-2807 238 2 see see VERB taxlaw-2807 238 3 michael michael PROPN taxlaw-2807 238 4 j. j. PROPN taxlaw-2807 238 5 graetz graetz PROPN taxlaw-2807 238 6 & & CCONJ taxlaw-2807 238 7 itai itai PROPN taxlaw-2807 238 8 grinberg grinberg PROPN taxlaw-2807 238 9 , , PUNCT taxlaw-2807 238 10 taxing tax VERB taxlaw-2807 238 11 international international ADJ taxlaw-2807 238 12 portfolio portfolio NOUN taxlaw-2807 238 13 income income NOUN taxlaw-2807 238 14 , , PUNCT taxlaw-2807 238 15 56 56 NUM taxlaw-2807 238 16 tax tax NOUN taxlaw-2807 238 17 l. l. PROPN taxlaw-2807 238 18 rev rev PROPN taxlaw-2807 238 19 . . PROPN taxlaw-2807 238 20 537 537 NUM taxlaw-2807 238 21 , , PUNCT taxlaw-2807 238 22 542–45 542–45 PROPN taxlaw-2807 238 23 ( ( PUNCT taxlaw-2807 238 24 2003 2003 NUM taxlaw-2807 238 25 ) ) PUNCT taxlaw-2807 238 26 . . PUNCT taxlaw-2807 239 1 see see VERB taxlaw-2807 239 2 also also ADV taxlaw-2807 239 3 katherine katherine PROPN taxlaw-2807 239 4 pratt pratt PROPN taxlaw-2807 239 5 , , PUNCT taxlaw-2807 239 6 the the DET taxlaw-2807 239 7 debt debt NOUN taxlaw-2807 239 8 - - PUNCT taxlaw-2807 239 9 equity equity NOUN taxlaw-2807 239 10 distinction distinction NOUN taxlaw-2807 239 11 in in ADP taxlaw-2807 239 12 a a DET taxlaw-2807 239 13 second second ADV taxlaw-2807 239 14 - - PUNCT taxlaw-2807 239 15 best good ADJ taxlaw-2807 239 16 world world NOUN taxlaw-2807 239 17 , , PUNCT taxlaw-2807 239 18 53 53 NUM taxlaw-2807 239 19 vand vand NOUN taxlaw-2807 239 20 . . PUNCT taxlaw-2807 240 1 l. l. PROPN taxlaw-2807 240 2 rev rev PROPN taxlaw-2807 240 3 . . PROPN taxlaw-2807 240 4 1055 1055 NUM taxlaw-2807 240 5 , , PUNCT taxlaw-2807 240 6 1057 1057 NUM taxlaw-2807 240 7 ( ( PUNCT taxlaw-2807 240 8 2000 2000 NUM taxlaw-2807 240 9 ) ) PUNCT taxlaw-2807 240 10 ( ( PUNCT taxlaw-2807 240 11 describing describe VERB taxlaw-2807 240 12 the the DET taxlaw-2807 240 13 development development NOUN taxlaw-2807 240 14 of of ADP taxlaw-2807 240 15 two two NUM taxlaw-2807 240 16 alternative alternative ADJ taxlaw-2807 240 17 theories theory NOUN taxlaw-2807 240 18 of of ADP taxlaw-2807 240 19 the the DET taxlaw-2807 240 20 firm firm NOUN taxlaw-2807 240 21 as as ADP taxlaw-2807 240 22 a a DET taxlaw-2807 240 23 result result NOUN taxlaw-2807 240 24 of of ADP taxlaw-2807 240 25 the the DET taxlaw-2807 240 26 dispersion dispersion NOUN taxlaw-2807 240 27 between between ADP taxlaw-2807 240 28 public public ADJ taxlaw-2807 240 29 ownership ownership NOUN taxlaw-2807 240 30 of of ADP taxlaw-2807 240 31 debt debt NOUN taxlaw-2807 240 32 and and CCONJ taxlaw-2807 240 33 stock stock NOUN taxlaw-2807 240 34 ) ) PUNCT taxlaw-2807 240 35 . . PUNCT taxlaw-2807 241 1 61 61 NUM taxlaw-2807 241 2 see see VERB taxlaw-2807 241 3 graetz graetz PROPN taxlaw-2807 241 4 & & CCONJ taxlaw-2807 241 5 grinberg grinberg PROPN taxlaw-2807 241 6 , , PUNCT taxlaw-2807 241 7 supra supra PROPN taxlaw-2807 241 8 note note NOUN taxlaw-2807 241 9 60 60 NUM taxlaw-2807 241 10 , , PUNCT taxlaw-2807 241 11 at at ADP taxlaw-2807 241 12 547–54 547–54 NUM taxlaw-2807 241 13 . . PROPN taxlaw-2807 241 14 62 62 NUM taxlaw-2807 241 15 for for ADP taxlaw-2807 241 16 example example NOUN taxlaw-2807 241 17 , , PUNCT taxlaw-2807 241 18 under under ADP taxlaw-2807 241 19 the the DET taxlaw-2807 241 20 securities security NOUN taxlaw-2807 241 21 exchange exchange PROPN taxlaw-2807 241 22 act act PROPN taxlaw-2807 241 23 ( ( PUNCT taxlaw-2807 241 24 1934 1934 NUM taxlaw-2807 241 25 ) ) PUNCT taxlaw-2807 241 26 , , PUNCT taxlaw-2807 241 27 the the DET taxlaw-2807 241 28 securities securities PROPN taxlaw-2807 241 29 and and CCONJ taxlaw-2807 241 30 exchange exchange PROPN taxlaw-2807 241 31 commission commission NOUN taxlaw-2807 241 32 requires require VERB taxlaw-2807 241 33 all all DET taxlaw-2807 241 34 public public ADJ taxlaw-2807 241 35 corporations corporation NOUN taxlaw-2807 241 36 to to PART taxlaw-2807 241 37 report report VERB taxlaw-2807 241 38 financial financial ADJ taxlaw-2807 241 39 statements statement NOUN taxlaw-2807 241 40 according accord VERB taxlaw-2807 241 41 to to ADP taxlaw-2807 241 42 the the DET taxlaw-2807 241 43 general general ADJ taxlaw-2807 241 44 accounting accounting NOUN taxlaw-2807 241 45 principles principle NOUN taxlaw-2807 241 46 . . PUNCT taxlaw-2807 242 1 15 15 NUM taxlaw-2807 242 2 u.s.c u.s.c NOUN taxlaw-2807 242 3 . . PUNCT taxlaw-2807 243 1 § § PROPN taxlaw-2807 243 2 78(m 78(m PROPN taxlaw-2807 243 3 ) ) PUNCT taxlaw-2807 243 4 ( ( PUNCT taxlaw-2807 243 5 2006 2006 NUM taxlaw-2807 243 6 ) ) PUNCT taxlaw-2807 243 7 . . PUNCT taxlaw-2807 244 1 additionally additionally ADV taxlaw-2807 244 2 , , PUNCT taxlaw-2807 244 3 treasury treasury NOUN taxlaw-2807 244 4 regulation regulation NOUN taxlaw-2807 244 5 § § PROPN taxlaw-2807 244 6 1.861–9t(h 1.861–9t(h NUM taxlaw-2807 244 7 ) ) PUNCT taxlaw-2807 244 8 gives give VERB taxlaw-2807 244 9 tax tax NOUN taxlaw-2807 244 10 2011 2011 NUM taxlaw-2807 244 11 ] ] PUNCT taxlaw-2807 244 12 realization realization NOUN taxlaw-2807 244 13 and and CCONJ taxlaw-2807 244 14 progressivity progressivity NOUN taxlaw-2807 244 15 55 55 NUM taxlaw-2807 244 16 to to ADP taxlaw-2807 244 17 a a DET taxlaw-2807 244 18 mark mark VERB taxlaw-2807 244 19 - - PUNCT taxlaw-2807 244 20 to to ADP taxlaw-2807 244 21 - - PUNCT taxlaw-2807 244 22 market market NOUN taxlaw-2807 244 23 regime regime NOUN taxlaw-2807 244 24 would would AUX taxlaw-2807 244 25 not not PART taxlaw-2807 244 26 involve involve VERB taxlaw-2807 244 27 significant significant ADJ taxlaw-2807 244 28 problems problem NOUN taxlaw-2807 244 29 and and CCONJ taxlaw-2807 244 30 administrative administrative ADJ taxlaw-2807 244 31 costs cost NOUN taxlaw-2807 244 32 related relate VERB taxlaw-2807 244 33 to to ADP taxlaw-2807 244 34 valuation valuation NOUN taxlaw-2807 244 35 difficulties difficulty NOUN taxlaw-2807 244 36 . . PUNCT taxlaw-2807 245 1 it it PRON taxlaw-2807 245 2 does do AUX taxlaw-2807 245 3 signify signify VERB taxlaw-2807 245 4 , , PUNCT taxlaw-2807 245 5 however however ADV taxlaw-2807 245 6 , , PUNCT taxlaw-2807 245 7 that that SCONJ taxlaw-2807 245 8 the the DET taxlaw-2807 245 9 marginal marginal ADJ taxlaw-2807 245 10 costs cost NOUN taxlaw-2807 245 11 of of ADP taxlaw-2807 245 12 producing produce VERB taxlaw-2807 245 13 the the DET taxlaw-2807 245 14 extra extra ADJ taxlaw-2807 245 15 valuations valuation NOUN taxlaw-2807 245 16 necessary necessary ADJ taxlaw-2807 245 17 for for SCONJ taxlaw-2807 245 18 such such DET taxlaw-2807 245 19 a a DET taxlaw-2807 245 20 shift shift NOUN taxlaw-2807 245 21 may may AUX taxlaw-2807 245 22 be be AUX taxlaw-2807 245 23 considerably considerably ADV taxlaw-2807 245 24 lower low ADJ taxlaw-2807 245 25 today today NOUN taxlaw-2807 245 26 than than SCONJ taxlaw-2807 245 27 they they PRON taxlaw-2807 245 28 were be AUX taxlaw-2807 245 29 in in ADP taxlaw-2807 245 30 the the DET taxlaw-2807 245 31 past past NOUN taxlaw-2807 245 32 and and CCONJ taxlaw-2807 245 33 , , PUNCT taxlaw-2807 245 34 if if SCONJ taxlaw-2807 245 35 the the DET taxlaw-2807 245 36 above above ADJ taxlaw-2807 245 37 trends trend NOUN taxlaw-2807 245 38 continue continue VERB taxlaw-2807 245 39 , , PUNCT taxlaw-2807 245 40 are be AUX taxlaw-2807 245 41 likely likely ADJ taxlaw-2807 245 42 to to PART taxlaw-2807 245 43 be be AUX taxlaw-2807 245 44 still still ADV taxlaw-2807 245 45 lower low ADJ taxlaw-2807 245 46 in in ADP taxlaw-2807 245 47 the the DET taxlaw-2807 245 48 future future NOUN taxlaw-2807 245 49 . . PUNCT taxlaw-2807 246 1 the the DET taxlaw-2807 246 2 mitigation mitigation NOUN taxlaw-2807 246 3 of of ADP taxlaw-2807 246 4 liquidity liquidity NOUN taxlaw-2807 246 5 and and CCONJ taxlaw-2807 246 6 valuation valuation NOUN taxlaw-2807 246 7 problems problem NOUN taxlaw-2807 246 8 is be AUX taxlaw-2807 246 9 undoubtedly undoubtedly ADV taxlaw-2807 246 10 the the DET taxlaw-2807 246 11 strongest strong ADJ taxlaw-2807 246 12 explanation explanation NOUN taxlaw-2807 246 13 for for ADP taxlaw-2807 246 14 the the DET taxlaw-2807 246 15 presence presence NOUN taxlaw-2807 246 16 of of ADP taxlaw-2807 246 17 the the DET taxlaw-2807 246 18 realization realization NOUN taxlaw-2807 246 19 requirement requirement NOUN taxlaw-2807 246 20 in in ADP taxlaw-2807 246 21 all all DET taxlaw-2807 246 22 income income NOUN taxlaw-2807 246 23 tax tax NOUN taxlaw-2807 246 24 regimes regime NOUN taxlaw-2807 246 25 . . PUNCT taxlaw-2807 247 1 however however ADV taxlaw-2807 247 2 , , PUNCT taxlaw-2807 247 3 this this DET taxlaw-2807 247 4 subpart subpart NOUN taxlaw-2807 247 5 questions question NOUN taxlaw-2807 247 6 whether whether SCONJ taxlaw-2807 247 7 problems problem NOUN taxlaw-2807 247 8 of of ADP taxlaw-2807 247 9 valuation valuation NOUN taxlaw-2807 247 10 and and CCONJ taxlaw-2807 247 11 liquidity liquidity NOUN taxlaw-2807 247 12 justify justify VERB taxlaw-2807 247 13 the the DET taxlaw-2807 247 14 requirement requirement NOUN taxlaw-2807 247 15 ’s ’s PART taxlaw-2807 247 16 broad broad ADJ taxlaw-2807 247 17 application.63 application.63 NOUN taxlaw-2807 247 18 this this DET taxlaw-2807 247 19 inquiry inquiry NOUN taxlaw-2807 247 20 is be AUX taxlaw-2807 247 21 necessary necessary ADJ taxlaw-2807 247 22 because because SCONJ taxlaw-2807 247 23 the the DET taxlaw-2807 247 24 administrative administrative ADJ taxlaw-2807 247 25 concerns concern NOUN taxlaw-2807 247 26 surrounding surround VERB taxlaw-2807 247 27 valuation valuation NOUN taxlaw-2807 247 28 and and CCONJ taxlaw-2807 247 29 liquidity liquidity NOUN taxlaw-2807 247 30 currently currently ADV taxlaw-2807 247 31 foreclose foreclose VERB taxlaw-2807 247 32 any any DET taxlaw-2807 247 33 normative normative ADJ taxlaw-2807 247 34 or or CCONJ taxlaw-2807 247 35 policy policy NOUN taxlaw-2807 247 36 discussion discussion NOUN taxlaw-2807 247 37 about about ADP taxlaw-2807 247 38 the the DET taxlaw-2807 247 39 appropriate appropriate ADJ taxlaw-2807 247 40 role role NOUN taxlaw-2807 247 41 of of ADP taxlaw-2807 247 42 the the DET taxlaw-2807 247 43 realization realization NOUN taxlaw-2807 247 44 requirement requirement NOUN taxlaw-2807 247 45 . . PUNCT taxlaw-2807 248 1 that that DET taxlaw-2807 248 2 realization realization NOUN taxlaw-2807 248 3 undermines undermine VERB taxlaw-2807 248 4 the the DET taxlaw-2807 248 5 redistributive redistributive ADJ taxlaw-2807 248 6 function function NOUN taxlaw-2807 248 7 of of ADP taxlaw-2807 248 8 the the DET taxlaw-2807 248 9 income income NOUN taxlaw-2807 248 10 tax tax NOUN taxlaw-2807 248 11 regime regime NOUN taxlaw-2807 248 12 , , PUNCT taxlaw-2807 248 13 which which PRON taxlaw-2807 248 14 is be AUX taxlaw-2807 248 15 one one NUM taxlaw-2807 248 16 of of ADP taxlaw-2807 248 17 the the DET taxlaw-2807 248 18 most most ADV taxlaw-2807 248 19 effective effective ADJ taxlaw-2807 248 20 redistributive redistributive ADJ taxlaw-2807 248 21 tools tool NOUN taxlaw-2807 248 22 of of ADP taxlaw-2807 248 23 modern modern ADJ taxlaw-2807 248 24 liberal liberal ADJ taxlaw-2807 248 25 democracies,64 democracies,64 PROPN taxlaw-2807 248 26 should should AUX taxlaw-2807 248 27 be be AUX taxlaw-2807 248 28 a a DET taxlaw-2807 248 29 point point NOUN taxlaw-2807 248 30 of of ADP taxlaw-2807 248 31 concern concern NOUN taxlaw-2807 248 32 . . PUNCT taxlaw-2807 249 1 in in ADP taxlaw-2807 249 2 our our PRON taxlaw-2807 249 3 view view NOUN taxlaw-2807 249 4 , , PUNCT taxlaw-2807 249 5 policymakers policymaker NOUN taxlaw-2807 249 6 may may AUX taxlaw-2807 249 7 find find VERB taxlaw-2807 249 8 it it PRON taxlaw-2807 249 9 beneficial beneficial ADJ taxlaw-2807 249 10 to to PART taxlaw-2807 249 11 seriously seriously ADV taxlaw-2807 249 12 reconsider reconsider VERB taxlaw-2807 249 13 the the DET taxlaw-2807 249 14 much much ADV taxlaw-2807 249 15 deeper deep ADJ taxlaw-2807 249 16 normative normative ADJ taxlaw-2807 249 17 discussion discussion NOUN taxlaw-2807 249 18 of of ADP taxlaw-2807 249 19 how how SCONJ taxlaw-2807 249 20 realization realization NOUN taxlaw-2807 249 21 promotes promote VERB taxlaw-2807 249 22 or or CCONJ taxlaw-2807 249 23 impedes impede VERB taxlaw-2807 249 24 the the DET taxlaw-2807 249 25 income income NOUN taxlaw-2807 249 26 tax tax NOUN taxlaw-2807 249 27 ’s ’s PART taxlaw-2807 249 28 distributive distributive ADJ taxlaw-2807 249 29 objectives.65 objectives.65 PROPN taxlaw-2807 249 30 ii ii PROPN taxlaw-2807 249 31 . . PUNCT taxlaw-2807 250 1 with with ADP taxlaw-2807 250 2 it it PRON taxlaw-2807 250 3 or or CCONJ taxlaw-2807 250 4 without without ADP taxlaw-2807 250 5 it it PRON taxlaw-2807 250 6 ? ? PUNCT taxlaw-2807 251 1 existing exist VERB taxlaw-2807 251 2 approaches approach NOUN taxlaw-2807 251 3 to to ADP taxlaw-2807 251 4 realization realization NOUN taxlaw-2807 251 5 given give VERB taxlaw-2807 251 6 the the DET taxlaw-2807 251 7 consensus consensus NOUN taxlaw-2807 251 8 that that SCONJ taxlaw-2807 251 9 there there PRON taxlaw-2807 251 10 is be VERB taxlaw-2807 251 11 no no DET taxlaw-2807 251 12 normative normative ADJ taxlaw-2807 251 13 justification justification NOUN taxlaw-2807 251 14 for for ADP taxlaw-2807 251 15 the the DET taxlaw-2807 251 16 realization realization NOUN taxlaw-2807 251 17 requirement,66 requirement,66 VERB taxlaw-2807 251 18 the the DET taxlaw-2807 251 19 current current ADJ taxlaw-2807 251 20 theoretical theoretical ADJ taxlaw-2807 251 21 discourse discourse NOUN taxlaw-2807 251 22 has have AUX taxlaw-2807 251 23 centered center VERB taxlaw-2807 251 24 on on ADP taxlaw-2807 251 25 whether whether SCONJ taxlaw-2807 251 26 there there PRON taxlaw-2807 251 27 is be VERB taxlaw-2807 251 28 a a DET taxlaw-2807 251 29 way way NOUN taxlaw-2807 251 30 to to PART taxlaw-2807 251 31 remove remove VERB taxlaw-2807 251 32 the the DET taxlaw-2807 251 33 requirement requirement NOUN taxlaw-2807 251 34 while while SCONJ taxlaw-2807 251 35 keeping keep VERB taxlaw-2807 251 36 the the DET taxlaw-2807 251 37 income income NOUN taxlaw-2807 251 38 tax tax NOUN taxlaw-2807 251 39 . . PUNCT taxlaw-2807 252 1 this this DET taxlaw-2807 252 2 part part NOUN taxlaw-2807 252 3 identifies identify VERB taxlaw-2807 252 4 and and CCONJ taxlaw-2807 252 5 evaluates evaluate VERB taxlaw-2807 252 6 two two NUM taxlaw-2807 252 7 general general ADJ taxlaw-2807 252 8 approaches approach NOUN taxlaw-2807 252 9 within within ADP taxlaw-2807 252 10 contemporary contemporary ADJ taxlaw-2807 252 11 literature literature NOUN taxlaw-2807 252 12 . . PUNCT taxlaw-2807 253 1 the the DET taxlaw-2807 253 2 first first ADJ taxlaw-2807 253 3 advances advance VERB taxlaw-2807 253 4 the the DET taxlaw-2807 253 5 notion notion NOUN taxlaw-2807 253 6 that that SCONJ taxlaw-2807 253 7 the the DET taxlaw-2807 253 8 income income NOUN taxlaw-2807 253 9 tax tax NOUN taxlaw-2807 253 10 regime regime NOUN taxlaw-2807 253 11 is be AUX taxlaw-2807 253 12 so so ADV taxlaw-2807 253 13 irreparably irreparably ADV taxlaw-2807 253 14 broken break VERB taxlaw-2807 253 15 because because SCONJ taxlaw-2807 253 16 of of ADP taxlaw-2807 253 17 the the DET taxlaw-2807 253 18 realization realization NOUN taxlaw-2807 253 19 requirement requirement NOUN taxlaw-2807 253 20 that that SCONJ taxlaw-2807 253 21 a a DET taxlaw-2807 253 22 shift shift NOUN taxlaw-2807 253 23 toward toward ADP taxlaw-2807 253 24 a a DET taxlaw-2807 253 25 mark mark NOUN taxlaw-2807 253 26 - - PUNCT taxlaw-2807 253 27 to to ADP taxlaw-2807 253 28 - - PUNCT taxlaw-2807 253 29 market market NOUN taxlaw-2807 253 30 regime regime NOUN taxlaw-2807 253 31 is be AUX taxlaw-2807 253 32 desirable desirable ADJ taxlaw-2807 253 33 . . PUNCT taxlaw-2807 254 1 the the DET taxlaw-2807 254 2 second second ADJ taxlaw-2807 254 3 argues argue VERB taxlaw-2807 254 4 that that SCONJ taxlaw-2807 254 5 such such DET taxlaw-2807 254 6 a a DET taxlaw-2807 254 7 shift shift NOUN taxlaw-2807 254 8 would would AUX taxlaw-2807 254 9 be be AUX taxlaw-2807 254 10 unwise unwise ADJ taxlaw-2807 254 11 because because SCONJ taxlaw-2807 254 12 the the DET taxlaw-2807 254 13 comparative comparative ADJ taxlaw-2807 254 14 costs cost NOUN taxlaw-2807 254 15 of of ADP taxlaw-2807 254 16 the the DET taxlaw-2807 254 17 alternatives alternative NOUN taxlaw-2807 254 18 to to ADP taxlaw-2807 254 19 realization realization NOUN taxlaw-2807 254 20 may may AUX taxlaw-2807 254 21 be be AUX taxlaw-2807 254 22 higher high ADJ taxlaw-2807 254 23 than than SCONJ taxlaw-2807 254 24 initially initially ADV taxlaw-2807 254 25 meets meet VERB taxlaw-2807 254 26 the the DET taxlaw-2807 254 27 eye eye NOUN taxlaw-2807 254 28 . . PUNCT taxlaw-2807 255 1 this this DET taxlaw-2807 255 2 part part NOUN taxlaw-2807 255 3 reviews review VERB taxlaw-2807 255 4 and and CCONJ taxlaw-2807 255 5 critically critically ADV taxlaw-2807 255 6 assesses assesse NOUN taxlaw-2807 255 7 both both DET taxlaw-2807 255 8 approaches approach NOUN taxlaw-2807 255 9 , , PUNCT taxlaw-2807 255 10 observing observe VERB taxlaw-2807 255 11 that that SCONJ taxlaw-2807 255 12 their their PRON taxlaw-2807 255 13 proponents proponent NOUN taxlaw-2807 255 14 disagree disagree VERB taxlaw-2807 255 15 about about ADP taxlaw-2807 255 16 one one NUM taxlaw-2807 255 17 issue issue NOUN taxlaw-2807 255 18 : : PUNCT taxlaw-2807 255 19 the the DET taxlaw-2807 255 20 comparative comparative ADJ taxlaw-2807 255 21 costs cost NOUN taxlaw-2807 255 22 of of ADP taxlaw-2807 255 23 the the DET taxlaw-2807 255 24 realization realization NOUN taxlaw-2807 255 25 requirement requirement NOUN taxlaw-2807 255 26 and and CCONJ taxlaw-2807 255 27 various various ADJ taxlaw-2807 255 28 mark mark NOUN taxlaw-2807 255 29 - - PUNCT taxlaw-2807 255 30 to to ADP taxlaw-2807 255 31 - - PUNCT taxlaw-2807 255 32 market market NOUN taxlaw-2807 255 33 regimes regime NOUN taxlaw-2807 255 34 . . PUNCT taxlaw-2807 256 1 both both DET taxlaw-2807 256 2 approaches approach NOUN taxlaw-2807 256 3 accept accept VERB taxlaw-2807 256 4 the the DET taxlaw-2807 256 5 notion notion NOUN taxlaw-2807 256 6 that that SCONJ taxlaw-2807 256 7 the the DET taxlaw-2807 256 8 realization realization NOUN taxlaw-2807 256 9 requirement requirement NOUN taxlaw-2807 256 10 merely merely ADV taxlaw-2807 256 11 represents represent VERB taxlaw-2807 256 12 an an DET taxlaw-2807 256 13 answer answer NOUN taxlaw-2807 256 14 to to ADP taxlaw-2807 256 15 administrative administrative ADJ taxlaw-2807 256 16 difficulties difficulty NOUN taxlaw-2807 256 17 associated associate VERB taxlaw-2807 256 18 with with ADP taxlaw-2807 256 19 liquidity liquidity NOUN taxlaw-2807 256 20 and and CCONJ taxlaw-2807 256 21 valuation valuation NOUN taxlaw-2807 256 22 . . PUNCT taxlaw-2807 257 1 yet yet ADV taxlaw-2807 257 2 , , PUNCT taxlaw-2807 257 3 as as ADP taxlaw-2807 257 4 the the DET taxlaw-2807 257 5 final final ADJ taxlaw-2807 257 6 subpart subpart NOUN taxlaw-2807 257 7 argues argue NOUN taxlaw-2807 257 8 , , PUNCT taxlaw-2807 257 9 this this DET taxlaw-2807 257 10 acceptance acceptance NOUN taxlaw-2807 257 11 is be AUX taxlaw-2807 257 12 problematic problematic ADJ taxlaw-2807 257 13 because because SCONJ taxlaw-2807 257 14 there there PRON taxlaw-2807 257 15 are be VERB taxlaw-2807 257 16 social social ADJ taxlaw-2807 257 17 costs cost NOUN taxlaw-2807 257 18 to to ADP taxlaw-2807 257 19 a a DET taxlaw-2807 257 20 century century NOUN taxlaw-2807 257 21 of of ADP taxlaw-2807 257 22 stagnation stagnation NOUN taxlaw-2807 257 23 in in ADP taxlaw-2807 257 24 the the DET taxlaw-2807 257 25 tax tax NOUN taxlaw-2807 257 26 discourse discourse NOUN taxlaw-2807 257 27 with with ADP taxlaw-2807 257 28 respect respect NOUN taxlaw-2807 257 29 to to ADP taxlaw-2807 257 30 the the DET taxlaw-2807 257 31 realization realization NOUN taxlaw-2807 257 32 requirement requirement NOUN taxlaw-2807 257 33 . . PUNCT taxlaw-2807 258 1 a. a. NOUN taxlaw-2807 258 2 without without ADP taxlaw-2807 258 3 it it PRON taxlaw-2807 258 4 : : PUNCT taxlaw-2807 258 5 a a DET taxlaw-2807 258 6 less less ADV taxlaw-2807 258 7 realization realization NOUN taxlaw-2807 258 8 - - PUNCT taxlaw-2807 258 9 based base VERB taxlaw-2807 258 10 income income NOUN taxlaw-2807 258 11 tax tax NOUN taxlaw-2807 258 12 regime regime NOUN taxlaw-2807 258 13 commentators commentator NOUN taxlaw-2807 258 14 have have AUX taxlaw-2807 258 15 advanced advance VERB taxlaw-2807 258 16 many many ADJ taxlaw-2807 258 17 proposals proposal NOUN taxlaw-2807 258 18 to to PART taxlaw-2807 258 19 reduce reduce VERB taxlaw-2807 258 20 the the DET taxlaw-2807 258 21 tax tax NOUN taxlaw-2807 258 22 distortions distortion NOUN taxlaw-2807 258 23 and and CCONJ taxlaw-2807 258 24 inequities inequity NOUN taxlaw-2807 258 25 of of ADP taxlaw-2807 258 26 the the DET taxlaw-2807 258 27 realization realization NOUN taxlaw-2807 258 28 requirement.67 requirement.67 NOUN taxlaw-2807 258 29 while while SCONJ taxlaw-2807 258 30 they they PRON taxlaw-2807 258 31 differ differ VERB taxlaw-2807 258 32 significantly significantly ADV taxlaw-2807 258 33 , , PUNCT taxlaw-2807 258 34 each each DET taxlaw-2807 258 35 proposal proposal NOUN taxlaw-2807 258 36 benefits benefit NOUN taxlaw-2807 258 37 to to ADP taxlaw-2807 258 38 u.s u.s PROPN taxlaw-2807 258 39 . . PROPN taxlaw-2807 258 40 multinationals multinational NOUN taxlaw-2807 258 41 that that PRON taxlaw-2807 258 42 allocate allocate VERB taxlaw-2807 258 43 their their PRON taxlaw-2807 258 44 interest interest NOUN taxlaw-2807 258 45 deductions deduction NOUN taxlaw-2807 258 46 — — PUNCT taxlaw-2807 258 47 which which PRON taxlaw-2807 258 48 requires require VERB taxlaw-2807 258 49 them they PRON taxlaw-2807 258 50 to to PART taxlaw-2807 258 51 undertake undertake VERB taxlaw-2807 258 52 annual annual ADJ taxlaw-2807 258 53 fair fair ADJ taxlaw-2807 258 54 market market NOUN taxlaw-2807 258 55 valuation valuation NOUN taxlaw-2807 258 56 of of ADP taxlaw-2807 258 57 all all DET taxlaw-2807 258 58 their their PRON taxlaw-2807 258 59 domestic domestic ADJ taxlaw-2807 258 60 and and CCONJ taxlaw-2807 258 61 foreign foreign ADJ taxlaw-2807 258 62 assets asset NOUN taxlaw-2807 258 63 . . PUNCT taxlaw-2807 259 1 treas treas PROPN taxlaw-2807 259 2 . . PUNCT taxlaw-2807 260 1 reg reg PROPN taxlaw-2807 260 2 . . PUNCT taxlaw-2807 261 1 § § PROPN taxlaw-2807 261 2 1.861 1.861 NUM taxlaw-2807 261 3 - - PUNCT taxlaw-2807 261 4 9t(h 9t(h NUM taxlaw-2807 261 5 ) ) PUNCT taxlaw-2807 261 6 ( ( PUNCT taxlaw-2807 261 7 2009 2009 NUM taxlaw-2807 261 8 ) ) PUNCT taxlaw-2807 261 9 . . PUNCT taxlaw-2807 262 1 63 63 NUM taxlaw-2807 262 2 see see VERB taxlaw-2807 262 3 halperin halperin NOUN taxlaw-2807 262 4 , , PUNCT taxlaw-2807 262 5 supra supra PROPN taxlaw-2807 262 6 note note NOUN taxlaw-2807 262 7 9 9 NUM taxlaw-2807 262 8 , , PUNCT taxlaw-2807 262 9 at at ADP taxlaw-2807 262 10 499 499 NUM taxlaw-2807 262 11 . . PUNCT taxlaw-2807 263 1 64 64 NUM taxlaw-2807 263 2 see see VERB taxlaw-2807 263 3 linda linda PROPN taxlaw-2807 263 4 sugin sugin PROPN taxlaw-2807 263 5 , , PUNCT taxlaw-2807 263 6 theories theory NOUN taxlaw-2807 263 7 of of ADP taxlaw-2807 263 8 distributive distributive ADJ taxlaw-2807 263 9 justice justice NOUN taxlaw-2807 263 10 and and CCONJ taxlaw-2807 263 11 limitations limitation NOUN taxlaw-2807 263 12 on on ADP taxlaw-2807 263 13 taxation taxation NOUN taxlaw-2807 263 14 : : PUNCT taxlaw-2807 263 15 what what PRON taxlaw-2807 263 16 rawls rawl VERB taxlaw-2807 263 17 demands demand NOUN taxlaw-2807 263 18 from from ADP taxlaw-2807 263 19 tax tax NOUN taxlaw-2807 263 20 systems system NOUN taxlaw-2807 263 21 , , PUNCT taxlaw-2807 263 22 72 72 NUM taxlaw-2807 263 23 fordham fordham PROPN taxlaw-2807 263 24 l. l. PROPN taxlaw-2807 263 25 rev rev PROPN taxlaw-2807 263 26 . . PROPN taxlaw-2807 263 27 1991 1991 NUM taxlaw-2807 263 28 , , PUNCT taxlaw-2807 263 29 2013–14 2013–14 NUM taxlaw-2807 263 30 ( ( PUNCT taxlaw-2807 263 31 2004 2004 NUM taxlaw-2807 263 32 ) ) PUNCT taxlaw-2807 263 33 . . PUNCT taxlaw-2807 264 1 65 65 NUM taxlaw-2807 264 2 many many ADJ taxlaw-2807 264 3 prominent prominent ADJ taxlaw-2807 264 4 scholars scholar NOUN taxlaw-2807 264 5 have have AUX taxlaw-2807 264 6 argued argue VERB taxlaw-2807 264 7 that that SCONJ taxlaw-2807 264 8 the the DET taxlaw-2807 264 9 realization realization NOUN taxlaw-2807 264 10 requirement requirement NOUN taxlaw-2807 264 11 has have VERB taxlaw-2807 264 12 no no DET taxlaw-2807 264 13 normative normative ADJ taxlaw-2807 264 14 basis basis NOUN taxlaw-2807 264 15 . . PUNCT taxlaw-2807 265 1 see see VERB taxlaw-2807 265 2 , , PUNCT taxlaw-2807 265 3 e.g. e.g. ADV taxlaw-2807 265 4 , , PUNCT taxlaw-2807 265 5 cunningham cunningham PROPN taxlaw-2807 265 6 & & CCONJ taxlaw-2807 265 7 schenk schenk PROPN taxlaw-2807 265 8 , , PUNCT taxlaw-2807 265 9 supra supra PROPN taxlaw-2807 265 10 note note NOUN taxlaw-2807 265 11 9 9 NUM taxlaw-2807 265 12 , , PUNCT taxlaw-2807 265 13 at at ADP taxlaw-2807 265 14 742 742 NUM taxlaw-2807 265 15 ; ; PUNCT taxlaw-2807 265 16 halperin halperin NOUN taxlaw-2807 265 17 , , PUNCT taxlaw-2807 265 18 supra supra PROPN taxlaw-2807 265 19 note note NOUN taxlaw-2807 265 20 9 9 NUM taxlaw-2807 265 21 , , PUNCT taxlaw-2807 265 22 at at ADP taxlaw-2807 265 23 499 499 NUM taxlaw-2807 265 24 ; ; PUNCT taxlaw-2807 265 25 schenk schenk PROPN taxlaw-2807 265 26 , , PUNCT taxlaw-2807 265 27 supra supra PROPN taxlaw-2807 265 28 note note PROPN taxlaw-2807 265 29 10 10 NUM taxlaw-2807 265 30 , , PUNCT taxlaw-2807 265 31 at at ADP taxlaw-2807 265 32 629 629 NUM taxlaw-2807 265 33 ; ; PUNCT taxlaw-2807 265 34 shakow shakow ADJ taxlaw-2807 265 35 , , PUNCT taxlaw-2807 265 36 supra supra ADJ taxlaw-2807 265 37 note note NOUN taxlaw-2807 265 38 9 9 NUM taxlaw-2807 265 39 , , PUNCT taxlaw-2807 265 40 at at ADP taxlaw-2807 265 41 1114 1114 NUM taxlaw-2807 265 42 . . PUNCT taxlaw-2807 266 1 66 66 NUM taxlaw-2807 266 2 see see VERB taxlaw-2807 266 3 supra supra PROPN taxlaw-2807 266 4 note note PROPN taxlaw-2807 266 5 14 14 NUM taxlaw-2807 266 6 . . SYM taxlaw-2807 266 7 67 67 NUM taxlaw-2807 266 8 see see VERB taxlaw-2807 266 9 generally generally ADV taxlaw-2807 266 10 blum blum PROPN taxlaw-2807 266 11 , , PUNCT taxlaw-2807 266 12 supra supra PROPN taxlaw-2807 266 13 note note PROPN taxlaw-2807 266 14 25 25 NUM taxlaw-2807 266 15 , , PUNCT taxlaw-2807 266 16 at at ADP taxlaw-2807 266 17 93–94 93–94 NUM taxlaw-2807 266 18 ( ( PUNCT taxlaw-2807 266 19 assessing assess VERB taxlaw-2807 266 20 the the DET taxlaw-2807 266 21 desirability desirability NOUN taxlaw-2807 266 22 and and CCONJ taxlaw-2807 266 23 feasibility feasibility NOUN taxlaw-2807 266 24 of of ADP taxlaw-2807 266 25 using use VERB taxlaw-2807 266 26 an an DET taxlaw-2807 266 27 interest interest NOUN taxlaw-2807 266 28 charge charge NOUN taxlaw-2807 266 29 to to PART taxlaw-2807 266 30 compensate compensate VERB taxlaw-2807 266 31 taxpayers taxpayer NOUN taxlaw-2807 266 32 ’ ' PUNCT taxlaw-2807 266 33 deferral deferral NOUN taxlaw-2807 266 34 ) ) PUNCT taxlaw-2807 266 35 ; ; PUNCT taxlaw-2807 266 36 cunningham cunningham PROPN taxlaw-2807 266 37 & & CCONJ taxlaw-2807 266 38 schenk schenk PROPN taxlaw-2807 266 39 , , PUNCT taxlaw-2807 266 40 supra supra PROPN taxlaw-2807 266 41 note note NOUN taxlaw-2807 266 42 9 9 NUM taxlaw-2807 266 43 ( ( PUNCT taxlaw-2807 266 44 advocating advocate VERB taxlaw-2807 266 45 for for ADP taxlaw-2807 266 46 the the DET taxlaw-2807 266 47 application application NOUN taxlaw-2807 266 48 of of ADP taxlaw-2807 266 49 a a DET taxlaw-2807 266 50 presumptive presumptive ADJ taxlaw-2807 266 51 tax tax NOUN taxlaw-2807 266 52 on on ADP taxlaw-2807 266 53 imputed impute VERB taxlaw-2807 266 54 income income NOUN taxlaw-2807 266 55 at at ADP taxlaw-2807 266 56 the the DET taxlaw-2807 266 57 risk risk NOUN taxlaw-2807 266 58 - - PUNCT taxlaw-2807 266 59 free free ADJ taxlaw-2807 266 60 treasury treasury NOUN taxlaw-2807 266 61 rate rate NOUN taxlaw-2807 266 62 to to PART taxlaw-2807 266 63 split split VERB taxlaw-2807 266 64 ownership ownership NOUN taxlaw-2807 266 65 interests interest NOUN taxlaw-2807 266 66 ) ) PUNCT taxlaw-2807 266 67 ; ; PUNCT taxlaw-2807 266 68 fellows fellow NOUN taxlaw-2807 266 69 , , PUNCT taxlaw-2807 266 70 supra supra PROPN taxlaw-2807 266 71 note note NOUN taxlaw-2807 266 72 1 1 NUM taxlaw-2807 266 73 , , PUNCT taxlaw-2807 266 74 at at ADP taxlaw-2807 266 75 728 728 NUM taxlaw-2807 266 76 ( ( PUNCT taxlaw-2807 266 77 offering offer VERB taxlaw-2807 266 78 a a DET taxlaw-2807 266 79 proposal proposal NOUN taxlaw-2807 266 80 for for ADP taxlaw-2807 266 81 retrospective retrospective ADJ taxlaw-2807 266 82 accrual accrual ADJ taxlaw-2807 266 83 taxation taxation NOUN taxlaw-2807 266 84 based base VERB taxlaw-2807 266 85 on on ADP taxlaw-2807 266 86 the the DET taxlaw-2807 266 87 assessment assessment NOUN taxlaw-2807 266 88 56 56 NUM taxlaw-2807 266 89 columbia columbia PROPN taxlaw-2807 266 90 journal journal PROPN taxlaw-2807 266 91 of of ADP taxlaw-2807 266 92 tax tax NOUN taxlaw-2807 266 93 law law NOUN taxlaw-2807 266 94 [ [ X taxlaw-2807 266 95 vol.3:43 vol.3:43 PROPN taxlaw-2807 266 96 contends contend VERB taxlaw-2807 266 97 that that SCONJ taxlaw-2807 266 98 realization realization NOUN taxlaw-2807 266 99 can can AUX taxlaw-2807 266 100 not not PART taxlaw-2807 266 101 be be AUX taxlaw-2807 266 102 justified justify VERB taxlaw-2807 266 103 while while SCONJ taxlaw-2807 266 104 simultaneously simultaneously ADV taxlaw-2807 266 105 arguing argue VERB taxlaw-2807 266 106 that that SCONJ taxlaw-2807 266 107 it it PRON taxlaw-2807 266 108 should should AUX taxlaw-2807 266 109 not not PART taxlaw-2807 266 110 be be AUX taxlaw-2807 266 111 eliminated eliminate VERB taxlaw-2807 266 112 altogether altogether ADV taxlaw-2807 266 113 . . PUNCT taxlaw-2807 267 1 the the DET taxlaw-2807 267 2 argument argument NOUN taxlaw-2807 267 3 underlying underlie VERB taxlaw-2807 267 4 proposals proposal NOUN taxlaw-2807 267 5 for for ADP taxlaw-2807 267 6 a a DET taxlaw-2807 267 7 shift shift NOUN taxlaw-2807 267 8 to to ADP taxlaw-2807 267 9 a a DET taxlaw-2807 267 10 mark mark VERB taxlaw-2807 267 11 - - PUNCT taxlaw-2807 267 12 to to ADP taxlaw-2807 267 13 - - PUNCT taxlaw-2807 267 14 market market NOUN taxlaw-2807 267 15 regime regime NOUN taxlaw-2807 267 16 is be AUX taxlaw-2807 267 17 relatively relatively ADV taxlaw-2807 267 18 straightforward straightforward ADJ taxlaw-2807 267 19 and and CCONJ taxlaw-2807 267 20 compelling compelling ADJ taxlaw-2807 267 21 . . PUNCT taxlaw-2807 268 1 because because SCONJ taxlaw-2807 268 2 they they PRON taxlaw-2807 268 3 see see VERB taxlaw-2807 268 4 no no DET taxlaw-2807 268 5 normative normative ADJ taxlaw-2807 268 6 justification justification NOUN taxlaw-2807 268 7 for for ADP taxlaw-2807 268 8 the the DET taxlaw-2807 268 9 realization realization NOUN taxlaw-2807 268 10 requirement requirement NOUN taxlaw-2807 268 11 , , PUNCT taxlaw-2807 268 12 the the DET taxlaw-2807 268 13 commentators commentator NOUN taxlaw-2807 268 14 argue argue VERB taxlaw-2807 268 15 that that SCONJ taxlaw-2807 268 16 the the DET taxlaw-2807 268 17 income income NOUN taxlaw-2807 268 18 tax tax NOUN taxlaw-2807 268 19 regime regime NOUN taxlaw-2807 268 20 should should AUX taxlaw-2807 268 21 minimize minimize VERB taxlaw-2807 268 22 realization realization NOUN taxlaw-2807 268 23 ’s ’s PART taxlaw-2807 268 24 social social ADJ taxlaw-2807 268 25 costs cost NOUN taxlaw-2807 268 26 by by ADP taxlaw-2807 268 27 limiting limit VERB taxlaw-2807 268 28 its its PRON taxlaw-2807 268 29 role role NOUN taxlaw-2807 268 30 . . PUNCT taxlaw-2807 269 1 to to PART taxlaw-2807 269 2 do do VERB taxlaw-2807 269 3 this this PRON taxlaw-2807 269 4 , , PUNCT taxlaw-2807 269 5 policymakers policymaker NOUN taxlaw-2807 269 6 should should AUX taxlaw-2807 269 7 engage engage VERB taxlaw-2807 269 8 in in ADP taxlaw-2807 269 9 a a DET taxlaw-2807 269 10 cost cost NOUN taxlaw-2807 269 11 – – PUNCT taxlaw-2807 269 12 benefit benefit NOUN taxlaw-2807 269 13 analysis analysis NOUN taxlaw-2807 269 14 to to PART taxlaw-2807 269 15 determine determine VERB taxlaw-2807 269 16 whether whether SCONJ taxlaw-2807 269 17 it it PRON taxlaw-2807 269 18 is be AUX taxlaw-2807 269 19 possible possible ADJ taxlaw-2807 269 20 to to PART taxlaw-2807 269 21 tax tax VERB taxlaw-2807 269 22 the the DET taxlaw-2807 269 23 value value NOUN taxlaw-2807 269 24 fluctuation fluctuation NOUN taxlaw-2807 269 25 of of ADP taxlaw-2807 269 26 certain certain ADJ taxlaw-2807 269 27 assets asset NOUN taxlaw-2807 269 28 independent independent ADJ taxlaw-2807 269 29 of of ADP taxlaw-2807 269 30 realization realization NOUN taxlaw-2807 269 31 . . PUNCT taxlaw-2807 270 1 this this DET taxlaw-2807 270 2 approach approach NOUN taxlaw-2807 270 3 emphasizes emphasize VERB taxlaw-2807 270 4 that that SCONJ taxlaw-2807 270 5 the the DET taxlaw-2807 270 6 administrative administrative ADJ taxlaw-2807 270 7 costs cost NOUN taxlaw-2807 270 8 associated associate VERB taxlaw-2807 270 9 with with ADP taxlaw-2807 270 10 valuation valuation NOUN taxlaw-2807 270 11 are be AUX taxlaw-2807 270 12 often often ADV taxlaw-2807 270 13 overstated overstate VERB taxlaw-2807 270 14 . . PUNCT taxlaw-2807 271 1 many many ADJ taxlaw-2807 271 2 assets asset NOUN taxlaw-2807 271 3 , , PUNCT taxlaw-2807 271 4 particularly particularly ADV taxlaw-2807 271 5 publicly publicly ADV taxlaw-2807 271 6 traded trade VERB taxlaw-2807 271 7 instruments instrument NOUN taxlaw-2807 271 8 , , PUNCT taxlaw-2807 271 9 are be AUX taxlaw-2807 271 10 actually actually ADV taxlaw-2807 271 11 quite quite ADV taxlaw-2807 271 12 easy easy ADJ taxlaw-2807 271 13 to to PART taxlaw-2807 271 14 value value VERB taxlaw-2807 271 15 . . PUNCT taxlaw-2807 272 1 this this DET taxlaw-2807 272 2 argument argument NOUN taxlaw-2807 272 3 becomes become VERB taxlaw-2807 272 4 stronger strong ADJ taxlaw-2807 272 5 as as SCONJ taxlaw-2807 272 6 public public ADJ taxlaw-2807 272 7 markets market NOUN taxlaw-2807 272 8 continue continue VERB taxlaw-2807 272 9 to to PART taxlaw-2807 272 10 grow grow VERB taxlaw-2807 272 11 in in ADP taxlaw-2807 272 12 both both DET taxlaw-2807 272 13 scope scope NOUN taxlaw-2807 272 14 and and CCONJ taxlaw-2807 272 15 scale,68 scale,68 PROPN taxlaw-2807 272 16 and and CCONJ taxlaw-2807 272 17 the the DET taxlaw-2807 272 18 relative relative ADJ taxlaw-2807 272 19 size size NOUN taxlaw-2807 272 20 of of ADP taxlaw-2807 272 21 portfolio portfolio NOUN taxlaw-2807 272 22 investment investment NOUN taxlaw-2807 272 23 continues continue VERB taxlaw-2807 272 24 to to PART taxlaw-2807 272 25 grow grow VERB taxlaw-2807 272 26 as as SCONJ taxlaw-2807 272 27 well.69 well.69 NOUN taxlaw-2807 272 28 advocates advocate NOUN taxlaw-2807 272 29 of of ADP taxlaw-2807 272 30 broader broad ADJ taxlaw-2807 272 31 mark mark NOUN taxlaw-2807 272 32 - - PUNCT taxlaw-2807 272 33 to to ADP taxlaw-2807 272 34 - - PUNCT taxlaw-2807 272 35 market market NOUN taxlaw-2807 272 36 taxation taxation NOUN taxlaw-2807 272 37 also also ADV taxlaw-2807 272 38 emphasize emphasize VERB taxlaw-2807 272 39 that that SCONJ taxlaw-2807 272 40 a a DET taxlaw-2807 272 41 tax tax NOUN taxlaw-2807 272 42 based base VERB taxlaw-2807 272 43 on on ADP taxlaw-2807 272 44 changes change NOUN taxlaw-2807 272 45 in in ADP taxlaw-2807 272 46 asset asset NOUN taxlaw-2807 272 47 value value NOUN taxlaw-2807 272 48 would would AUX taxlaw-2807 272 49 not not PART taxlaw-2807 272 50 require require VERB taxlaw-2807 272 51 annual annual ADJ taxlaw-2807 272 52 valuation valuation NOUN taxlaw-2807 272 53 of of ADP taxlaw-2807 272 54 every every DET taxlaw-2807 272 55 asset asset NOUN taxlaw-2807 272 56 . . PUNCT taxlaw-2807 273 1 there there PRON taxlaw-2807 273 2 are be VERB taxlaw-2807 273 3 a a DET taxlaw-2807 273 4 number number NOUN taxlaw-2807 273 5 of of ADP taxlaw-2807 273 6 ways way NOUN taxlaw-2807 273 7 to to PART taxlaw-2807 273 8 indirectly indirectly ADV taxlaw-2807 273 9 reduce reduce VERB taxlaw-2807 273 10 the the DET taxlaw-2807 273 11 tax tax NOUN taxlaw-2807 273 12 benefit benefit NOUN taxlaw-2807 273 13 of of ADP taxlaw-2807 273 14 deferral deferral ADJ taxlaw-2807 273 15 and and CCONJ taxlaw-2807 273 16 the the DET taxlaw-2807 273 17 problem problem NOUN taxlaw-2807 273 18 of of ADP taxlaw-2807 273 19 lock lock NOUN taxlaw-2807 273 20 - - PUNCT taxlaw-2807 273 21 in in NOUN taxlaw-2807 273 22 without without ADP taxlaw-2807 273 23 annual annual ADJ taxlaw-2807 273 24 valuation valuation NOUN taxlaw-2807 273 25 of of ADP taxlaw-2807 273 26 all all DET taxlaw-2807 273 27 assets.70 assets.70 NOUN taxlaw-2807 273 28 further far ADV taxlaw-2807 273 29 , , PUNCT taxlaw-2807 273 30 inaccuracies inaccuracy NOUN taxlaw-2807 273 31 in in ADP taxlaw-2807 273 32 any any DET taxlaw-2807 273 33 one one NUM taxlaw-2807 273 34 year year NOUN taxlaw-2807 273 35 would would AUX taxlaw-2807 273 36 correct correct VERB taxlaw-2807 273 37 themselves themselves PRON taxlaw-2807 273 38 over over ADP taxlaw-2807 273 39 time time NOUN taxlaw-2807 273 40 and and CCONJ taxlaw-2807 273 41 even even ADV taxlaw-2807 273 42 out out ADV taxlaw-2807 273 43 when when SCONJ taxlaw-2807 273 44 the the DET taxlaw-2807 273 45 asset asset NOUN taxlaw-2807 273 46 was be AUX taxlaw-2807 273 47 ultimately ultimately ADV taxlaw-2807 273 48 sold sell VERB taxlaw-2807 273 49 , , PUNCT taxlaw-2807 273 50 and and CCONJ taxlaw-2807 273 51 since since SCONJ taxlaw-2807 273 52 more more ADJ taxlaw-2807 273 53 assets asset NOUN taxlaw-2807 273 54 would would AUX taxlaw-2807 273 55 be be AUX taxlaw-2807 273 56 valued value VERB taxlaw-2807 273 57 , , PUNCT taxlaw-2807 273 58 the the DET taxlaw-2807 273 59 impact impact NOUN taxlaw-2807 273 60 of of ADP taxlaw-2807 273 61 mispricing misprice VERB taxlaw-2807 273 62 any any DET taxlaw-2807 273 63 specific specific ADJ taxlaw-2807 273 64 asset asset NOUN taxlaw-2807 273 65 would would AUX taxlaw-2807 273 66 be be AUX taxlaw-2807 273 67 greatly greatly ADV taxlaw-2807 273 68 diminished.71 diminished.71 VERB taxlaw-2807 273 69 diminishing diminish VERB taxlaw-2807 273 70 the the DET taxlaw-2807 273 71 costs cost NOUN taxlaw-2807 273 72 of of ADP taxlaw-2807 273 73 the the DET taxlaw-2807 273 74 realization realization NOUN taxlaw-2807 273 75 requirement requirement NOUN taxlaw-2807 273 76 would would AUX taxlaw-2807 273 77 reduce reduce VERB taxlaw-2807 273 78 some some PRON taxlaw-2807 273 79 of of ADP taxlaw-2807 273 80 its its PRON taxlaw-2807 273 81 social social ADJ taxlaw-2807 273 82 costs cost NOUN taxlaw-2807 273 83 and and CCONJ taxlaw-2807 273 84 would would AUX taxlaw-2807 273 85 result result VERB taxlaw-2807 273 86 in in ADP taxlaw-2807 273 87 a a DET taxlaw-2807 273 88 broader broad ADJ taxlaw-2807 273 89 , , PUNCT taxlaw-2807 273 90 more more ADV taxlaw-2807 273 91 comprehensive comprehensive ADJ taxlaw-2807 273 92 tax tax NOUN taxlaw-2807 273 93 base,72 base,72 NOUN taxlaw-2807 273 94 which which PRON taxlaw-2807 273 95 would would AUX taxlaw-2807 273 96 allow allow VERB taxlaw-2807 273 97 policymakers policymaker NOUN taxlaw-2807 273 98 to to PART taxlaw-2807 273 99 maintain maintain VERB taxlaw-2807 273 100 the the DET taxlaw-2807 273 101 same same ADJ taxlaw-2807 273 102 level level NOUN taxlaw-2807 273 103 of of ADP taxlaw-2807 273 104 revenues revenue NOUN taxlaw-2807 273 105 while while SCONJ taxlaw-2807 273 106 reducing reduce VERB taxlaw-2807 273 107 high high ADJ taxlaw-2807 273 108 marginal marginal ADJ taxlaw-2807 273 109 tax tax NOUN taxlaw-2807 273 110 rates rate NOUN taxlaw-2807 273 111 ( ( PUNCT taxlaw-2807 273 112 and and CCONJ taxlaw-2807 273 113 their their PRON taxlaw-2807 273 114 associated associated ADJ taxlaw-2807 273 115 work work NOUN taxlaw-2807 273 116 disincentives).73 disincentives).73 PROPN taxlaw-2807 273 117 of of ADP taxlaw-2807 273 118 when when SCONJ taxlaw-2807 273 119 the the DET taxlaw-2807 273 120 asset asset NOUN taxlaw-2807 273 121 appreciates appreciate VERB taxlaw-2807 273 122 in in ADP taxlaw-2807 273 123 value value NOUN taxlaw-2807 273 124 ) ) PUNCT taxlaw-2807 273 125 ; ; PUNCT taxlaw-2807 273 126 land land NOUN taxlaw-2807 273 127 , , PUNCT taxlaw-2807 273 128 supra supra PROPN taxlaw-2807 273 129 note note PROPN taxlaw-2807 273 130 29 29 NUM taxlaw-2807 273 131 , , PUNCT taxlaw-2807 273 132 at at ADP taxlaw-2807 273 133 47 47 NUM taxlaw-2807 273 134 ( ( PUNCT taxlaw-2807 273 135 proposing propose VERB taxlaw-2807 273 136 a a DET taxlaw-2807 273 137 form form NOUN taxlaw-2807 273 138 of of ADP taxlaw-2807 273 139 retrospective retrospective ADJ taxlaw-2807 273 140 taxation taxation NOUN taxlaw-2807 273 141 that that PRON taxlaw-2807 273 142 grants grant VERB taxlaw-2807 273 143 the the DET taxlaw-2807 273 144 government government NOUN taxlaw-2807 273 145 an an DET taxlaw-2807 273 146 equity equity NOUN taxlaw-2807 273 147 share share NOUN taxlaw-2807 273 148 in in ADP taxlaw-2807 273 149 the the DET taxlaw-2807 273 150 time time NOUN taxlaw-2807 273 151 - - PUNCT taxlaw-2807 273 152 adjusted adjust VERB taxlaw-2807 273 153 gains gain NOUN taxlaw-2807 273 154 at at ADP taxlaw-2807 273 155 the the DET taxlaw-2807 273 156 time time NOUN taxlaw-2807 273 157 of of ADP taxlaw-2807 273 158 the the DET taxlaw-2807 273 159 sale sale NOUN taxlaw-2807 273 160 ) ) PUNCT taxlaw-2807 273 161 ; ; PUNCT taxlaw-2807 273 162 david david PROPN taxlaw-2807 273 163 s. s. PROPN taxlaw-2807 273 164 miller miller PROPN taxlaw-2807 273 165 , , PUNCT taxlaw-2807 273 166 a a DET taxlaw-2807 273 167 progressive progressive ADJ taxlaw-2807 273 168 system system NOUN taxlaw-2807 273 169 of of ADP taxlaw-2807 273 170 mark mark NOUN taxlaw-2807 273 171 - - PUNCT taxlaw-2807 273 172 to to ADP taxlaw-2807 273 173 - - PUNCT taxlaw-2807 273 174 market market NOUN taxlaw-2807 273 175 taxation taxation NOUN taxlaw-2807 273 176 , , PUNCT taxlaw-2807 273 177 109 109 NUM taxlaw-2807 273 178 tax tax NOUN taxlaw-2807 273 179 notes note NOUN taxlaw-2807 273 180 1047 1047 NUM taxlaw-2807 273 181 ( ( PUNCT taxlaw-2807 273 182 2005 2005 NUM taxlaw-2807 273 183 ) ) PUNCT taxlaw-2807 273 184 ( ( PUNCT taxlaw-2807 273 185 arguing argue VERB taxlaw-2807 273 186 that that SCONJ taxlaw-2807 273 187 affluent affluent ADJ taxlaw-2807 273 188 individuals individual NOUN taxlaw-2807 273 189 , , PUNCT taxlaw-2807 273 190 public public ADJ taxlaw-2807 273 191 companies company NOUN taxlaw-2807 273 192 , , PUNCT taxlaw-2807 273 193 and and CCONJ taxlaw-2807 273 194 medium medium ADJ taxlaw-2807 273 195 - - PUNCT taxlaw-2807 273 196 sized sized ADJ taxlaw-2807 273 197 private private ADJ taxlaw-2807 273 198 companies company NOUN taxlaw-2807 273 199 would would AUX taxlaw-2807 273 200 be be AUX taxlaw-2807 273 201 required require VERB taxlaw-2807 273 202 to to PART taxlaw-2807 273 203 mark mark VERB taxlaw-2807 273 204 - - PUNCT taxlaw-2807 273 205 to to ADP taxlaw-2807 273 206 - - PUNCT taxlaw-2807 273 207 market market VERB taxlaw-2807 273 208 their their PRON taxlaw-2807 273 209 publicly publicly ADV taxlaw-2807 273 210 traded trade VERB taxlaw-2807 273 211 property property NOUN taxlaw-2807 273 212 and and CCONJ taxlaw-2807 273 213 derivatives derivative NOUN taxlaw-2807 273 214 ) ) PUNCT taxlaw-2807 273 215 ; ; PUNCT taxlaw-2807 273 216 weisbach weisbach NOUN taxlaw-2807 273 217 , , PUNCT taxlaw-2807 273 218 supra supra ADJ taxlaw-2807 273 219 note note NOUN taxlaw-2807 273 220 1 1 NUM taxlaw-2807 273 221 ( ( PUNCT taxlaw-2807 273 222 examining examine VERB taxlaw-2807 273 223 whether whether SCONJ taxlaw-2807 273 224 it it PRON taxlaw-2807 273 225 is be AUX taxlaw-2807 273 226 feasible feasible ADJ taxlaw-2807 273 227 to to PART taxlaw-2807 273 228 expand expand VERB taxlaw-2807 273 229 mark mark NOUN taxlaw-2807 273 230 - - PUNCT taxlaw-2807 273 231 to to ADP taxlaw-2807 273 232 - - PUNCT taxlaw-2807 273 233 market market NOUN taxlaw-2807 273 234 taxation taxation NOUN taxlaw-2807 273 235 to to PART taxlaw-2807 273 236 cover cover VERB taxlaw-2807 273 237 most most ADJ taxlaw-2807 273 238 liquid liquid ADJ taxlaw-2807 273 239 assets asset NOUN taxlaw-2807 273 240 while while SCONJ taxlaw-2807 273 241 leaving leave VERB taxlaw-2807 273 242 hard hard ADJ taxlaw-2807 273 243 - - PUNCT taxlaw-2807 273 244 to to ADP taxlaw-2807 273 245 - - PUNCT taxlaw-2807 273 246 value value NOUN taxlaw-2807 273 247 assets asset NOUN taxlaw-2807 273 248 such such ADJ taxlaw-2807 273 249 as as ADP taxlaw-2807 273 250 real real ADJ taxlaw-2807 273 251 estate estate NOUN taxlaw-2807 273 252 and and CCONJ taxlaw-2807 273 253 small small ADJ taxlaw-2807 273 254 businesses business NOUN taxlaw-2807 273 255 on on ADP taxlaw-2807 273 256 the the DET taxlaw-2807 273 257 realization realization NOUN taxlaw-2807 273 258 system system NOUN taxlaw-2807 273 259 ) ) PUNCT taxlaw-2807 273 260 . . PUNCT taxlaw-2807 274 1 68 68 NUM taxlaw-2807 274 2 benshalom benshalom NOUN taxlaw-2807 274 3 & & CCONJ taxlaw-2807 274 4 stead stead PROPN taxlaw-2807 274 5 , , PUNCT taxlaw-2807 274 6 supra supra PROPN taxlaw-2807 274 7 note note NOUN taxlaw-2807 274 8 15 15 NUM taxlaw-2807 274 9 , , PUNCT taxlaw-2807 274 10 at at ADP taxlaw-2807 274 11 1557 1557 NUM taxlaw-2807 274 12 . . PUNCT taxlaw-2807 275 1 69 69 NUM taxlaw-2807 275 2 see see VERB taxlaw-2807 275 3 graetz graetz PROPN taxlaw-2807 275 4 & & CCONJ taxlaw-2807 275 5 grinberg grinberg PROPN taxlaw-2807 275 6 , , PUNCT taxlaw-2807 275 7 supra supra PROPN taxlaw-2807 275 8 note note NOUN taxlaw-2807 275 9 60 60 NUM taxlaw-2807 275 10 , , PUNCT taxlaw-2807 275 11 at at ADP taxlaw-2807 275 12 542–45 542–45 NUM taxlaw-2807 275 13 . . PUNCT taxlaw-2807 275 14 70 70 NUM taxlaw-2807 275 15 periodic periodic ADJ taxlaw-2807 275 16 assessment assessment NOUN taxlaw-2807 275 17 and and CCONJ taxlaw-2807 275 18 reliance reliance NOUN taxlaw-2807 275 19 on on ADP taxlaw-2807 275 20 presumptive presumptive ADJ taxlaw-2807 275 21 statistical statistical ADJ taxlaw-2807 275 22 appraisals appraisal NOUN taxlaw-2807 275 23 should should AUX taxlaw-2807 275 24 provide provide VERB taxlaw-2807 275 25 a a DET taxlaw-2807 275 26 good good ADJ taxlaw-2807 275 27 proxy proxy NOUN taxlaw-2807 275 28 for for ADP taxlaw-2807 275 29 changes change NOUN taxlaw-2807 275 30 in in ADP taxlaw-2807 275 31 taxpayers taxpayer NOUN taxlaw-2807 275 32 ’ ’ PART taxlaw-2807 275 33 portfolios portfolio NOUN taxlaw-2807 275 34 . . PUNCT taxlaw-2807 276 1 furthermore furthermore ADV taxlaw-2807 276 2 , , PUNCT taxlaw-2807 276 3 exemptions exemption NOUN taxlaw-2807 276 4 for for ADP taxlaw-2807 276 5 low low ADJ taxlaw-2807 276 6 value value NOUN taxlaw-2807 276 7 assets asset NOUN taxlaw-2807 276 8 ( ( PUNCT taxlaw-2807 276 9 e.g. e.g. ADV taxlaw-2807 276 10 , , PUNCT taxlaw-2807 276 11 consumer consumer NOUN taxlaw-2807 276 12 durables durable NOUN taxlaw-2807 276 13 ) ) PUNCT taxlaw-2807 276 14 , , PUNCT taxlaw-2807 276 15 could could AUX taxlaw-2807 276 16 also also ADV taxlaw-2807 276 17 reduce reduce VERB taxlaw-2807 276 18 administrative administrative ADJ taxlaw-2807 276 19 costs cost NOUN taxlaw-2807 276 20 without without ADP taxlaw-2807 276 21 significant significant ADJ taxlaw-2807 276 22 revenue revenue NOUN taxlaw-2807 276 23 implications implication NOUN taxlaw-2807 276 24 . . PUNCT taxlaw-2807 277 1 see see VERB taxlaw-2807 277 2 shakow shakow PROPN taxlaw-2807 277 3 , , PUNCT taxlaw-2807 277 4 supra supra PROPN taxlaw-2807 277 5 note note NOUN taxlaw-2807 277 6 9 9 NUM taxlaw-2807 277 7 , , PUNCT taxlaw-2807 277 8 at at ADP taxlaw-2807 277 9 1121–23 1121–23 NUM taxlaw-2807 277 10 . . PUNCT taxlaw-2807 278 1 a a DET taxlaw-2807 278 2 mark mark NOUN taxlaw-2807 278 3 - - PUNCT taxlaw-2807 278 4 to to ADP taxlaw-2807 278 5 - - PUNCT taxlaw-2807 278 6 market market NOUN taxlaw-2807 278 7 regime regime NOUN taxlaw-2807 278 8 could could AUX taxlaw-2807 278 9 also also ADV taxlaw-2807 278 10 be be AUX taxlaw-2807 278 11 administered administer VERB taxlaw-2807 278 12 through through ADP taxlaw-2807 278 13 special special ADJ taxlaw-2807 278 14 arrangements arrangement NOUN taxlaw-2807 278 15 for for ADP taxlaw-2807 278 16 assets asset NOUN taxlaw-2807 278 17 for for ADP taxlaw-2807 278 18 which which PRON taxlaw-2807 278 19 valuation valuation NOUN taxlaw-2807 278 20 seemed seem VERB taxlaw-2807 278 21 completely completely ADV taxlaw-2807 278 22 implausible implausible ADJ taxlaw-2807 278 23 . . PUNCT taxlaw-2807 279 1 extremely extremely ADV taxlaw-2807 279 2 difficult difficult ADJ taxlaw-2807 279 3 to to PART taxlaw-2807 279 4 value value VERB taxlaw-2807 279 5 assets asset NOUN taxlaw-2807 279 6 — — PUNCT taxlaw-2807 279 7 such such ADJ taxlaw-2807 279 8 as as ADP taxlaw-2807 279 9 artwork artwork NOUN taxlaw-2807 279 10 — — PUNCT taxlaw-2807 279 11 could could AUX taxlaw-2807 279 12 be be AUX taxlaw-2807 279 13 taxed tax VERB taxlaw-2807 279 14 on on ADP taxlaw-2807 279 15 a a DET taxlaw-2807 279 16 realization realization NOUN taxlaw-2807 279 17 basis basis NOUN taxlaw-2807 279 18 with with ADP taxlaw-2807 279 19 measures measure NOUN taxlaw-2807 279 20 to to PART taxlaw-2807 279 21 correct correct VERB taxlaw-2807 279 22 for for ADP taxlaw-2807 279 23 deferral deferral NOUN taxlaw-2807 279 24 . . PUNCT taxlaw-2807 280 1 another another DET taxlaw-2807 280 2 possibility possibility NOUN taxlaw-2807 280 3 would would AUX taxlaw-2807 280 4 be be AUX taxlaw-2807 280 5 to to PART taxlaw-2807 280 6 use use VERB taxlaw-2807 280 7 an an DET taxlaw-2807 280 8 ex ex ADJ taxlaw-2807 280 9 post post NOUN taxlaw-2807 280 10 retrospective retrospective ADJ taxlaw-2807 280 11 approach approach NOUN taxlaw-2807 280 12 that that PRON taxlaw-2807 280 13 taxed tax VERB taxlaw-2807 280 14 the the DET taxlaw-2807 280 15 value value NOUN taxlaw-2807 280 16 of of ADP taxlaw-2807 280 17 deferral deferral ADJ taxlaw-2807 280 18 — — PUNCT taxlaw-2807 280 19 meaning mean VERB taxlaw-2807 280 20 that that SCONJ taxlaw-2807 280 21 when when SCONJ taxlaw-2807 280 22 the the DET taxlaw-2807 280 23 assets asset NOUN taxlaw-2807 280 24 were be AUX taxlaw-2807 280 25 sold sell VERB taxlaw-2807 280 26 the the DET taxlaw-2807 280 27 tax tax NOUN taxlaw-2807 280 28 liability liability NOUN taxlaw-2807 280 29 would would AUX taxlaw-2807 280 30 be be AUX taxlaw-2807 280 31 calculated calculate VERB taxlaw-2807 280 32 based base VERB taxlaw-2807 280 33 on on ADP taxlaw-2807 280 34 certain certain ADJ taxlaw-2807 280 35 assumptions assumption NOUN taxlaw-2807 280 36 with with ADP taxlaw-2807 280 37 respect respect NOUN taxlaw-2807 280 38 to to ADP taxlaw-2807 280 39 when when SCONJ taxlaw-2807 280 40 the the DET taxlaw-2807 280 41 value value NOUN taxlaw-2807 280 42 accumulated accumulate VERB taxlaw-2807 280 43 . . PUNCT taxlaw-2807 281 1 for for ADP taxlaw-2807 281 2 example example NOUN taxlaw-2807 281 3 , , PUNCT taxlaw-2807 281 4 tax tax NOUN taxlaw-2807 281 5 authorities authority NOUN taxlaw-2807 281 6 could could AUX taxlaw-2807 281 7 operate operate VERB taxlaw-2807 281 8 under under ADP taxlaw-2807 281 9 a a DET taxlaw-2807 281 10 rebuttable rebuttable ADJ taxlaw-2807 281 11 assumption assumption NOUN taxlaw-2807 281 12 that that SCONJ taxlaw-2807 281 13 assets asset NOUN taxlaw-2807 281 14 had have AUX taxlaw-2807 281 15 straight straight ADJ taxlaw-2807 281 16 - - PUNCT taxlaw-2807 281 17 line line NOUN taxlaw-2807 281 18 appreciation appreciation NOUN taxlaw-2807 281 19 . . PUNCT taxlaw-2807 282 1 taxpayers taxpayer NOUN taxlaw-2807 282 2 who who PRON taxlaw-2807 282 3 realized realize VERB taxlaw-2807 282 4 profits profit NOUN taxlaw-2807 282 5 later later ADV taxlaw-2807 282 6 would would AUX taxlaw-2807 282 7 face face VERB taxlaw-2807 282 8 higher high ADJ taxlaw-2807 282 9 nominal nominal ADJ taxlaw-2807 282 10 tax tax NOUN taxlaw-2807 282 11 liabilities liability NOUN taxlaw-2807 282 12 , , PUNCT taxlaw-2807 282 13 because because SCONJ taxlaw-2807 282 14 they they PRON taxlaw-2807 282 15 would would AUX taxlaw-2807 282 16 be be AUX taxlaw-2807 282 17 taxed tax VERB taxlaw-2807 282 18 on on ADP taxlaw-2807 282 19 the the DET taxlaw-2807 282 20 assumed assumed ADJ taxlaw-2807 282 21 tax tax NOUN taxlaw-2807 282 22 value value NOUN taxlaw-2807 282 23 of of ADP taxlaw-2807 282 24 money money NOUN taxlaw-2807 282 25 they they PRON taxlaw-2807 282 26 attained attain VERB taxlaw-2807 282 27 by by ADP taxlaw-2807 282 28 deferring defer VERB taxlaw-2807 282 29 realization realization NOUN taxlaw-2807 282 30 . . PUNCT taxlaw-2807 283 1 alternatively alternatively ADV taxlaw-2807 283 2 , , PUNCT taxlaw-2807 283 3 investments investment NOUN taxlaw-2807 283 4 could could AUX taxlaw-2807 283 5 face face VERB taxlaw-2807 283 6 presumptive presumptive ADJ taxlaw-2807 283 7 tax tax NOUN taxlaw-2807 283 8 on on ADP taxlaw-2807 283 9 their their PRON taxlaw-2807 283 10 expected expect VERB taxlaw-2807 283 11 return return NOUN taxlaw-2807 283 12 — — PUNCT taxlaw-2807 283 13 investors investor NOUN taxlaw-2807 283 14 would would AUX taxlaw-2807 283 15 have have VERB taxlaw-2807 283 16 to to PART taxlaw-2807 283 17 pay pay VERB taxlaw-2807 283 18 a a DET taxlaw-2807 283 19 tax tax NOUN taxlaw-2807 283 20 on on ADP taxlaw-2807 283 21 their their PRON taxlaw-2807 283 22 expected expect VERB taxlaw-2807 283 23 benefits benefit NOUN taxlaw-2807 283 24 , , PUNCT taxlaw-2807 283 25 and and CCONJ taxlaw-2807 283 26 the the DET taxlaw-2807 283 27 total total ADJ taxlaw-2807 283 28 tax tax NOUN taxlaw-2807 283 29 liability liability NOUN taxlaw-2807 283 30 could could AUX taxlaw-2807 283 31 later later ADV taxlaw-2807 283 32 be be AUX taxlaw-2807 283 33 modified modify VERB taxlaw-2807 283 34 according accord VERB taxlaw-2807 283 35 to to ADP taxlaw-2807 283 36 the the DET taxlaw-2807 283 37 actual actual ADJ taxlaw-2807 283 38 price price NOUN taxlaw-2807 283 39 at at ADP taxlaw-2807 283 40 which which PRON taxlaw-2807 283 41 the the DET taxlaw-2807 283 42 asset asset NOUN taxlaw-2807 283 43 was be AUX taxlaw-2807 283 44 realized realize VERB taxlaw-2807 283 45 . . PUNCT taxlaw-2807 284 1 for for ADP taxlaw-2807 284 2 such such DET taxlaw-2807 284 3 a a DET taxlaw-2807 284 4 proposal proposal NOUN taxlaw-2807 284 5 see see VERB taxlaw-2807 284 6 edward edward PROPN taxlaw-2807 284 7 d. d. PROPN taxlaw-2807 284 8 kleinbard kleinbard PROPN taxlaw-2807 284 9 , , PUNCT taxlaw-2807 284 10 designing design VERB taxlaw-2807 284 11 an an DET taxlaw-2807 284 12 income income NOUN taxlaw-2807 284 13 tax tax NOUN taxlaw-2807 284 14 on on ADP taxlaw-2807 284 15 capital capital NOUN taxlaw-2807 284 16 , , PUNCT taxlaw-2807 284 17 in in ADP taxlaw-2807 284 18 taxing tax VERB taxlaw-2807 284 19 capital capital NOUN taxlaw-2807 284 20 income income NOUN taxlaw-2807 284 21 165 165 NUM taxlaw-2807 284 22 ( ( PUNCT taxlaw-2807 284 23 henry henry PROPN taxlaw-2807 284 24 j. j. PROPN taxlaw-2807 284 25 aaron aaron PROPN taxlaw-2807 284 26 et et PROPN taxlaw-2807 284 27 al al PROPN taxlaw-2807 284 28 . . PUNCT taxlaw-2807 284 29 eds eds PROPN taxlaw-2807 284 30 . . PROPN taxlaw-2807 284 31 , , PUNCT taxlaw-2807 284 32 2007 2007 NUM taxlaw-2807 284 33 ) ) PUNCT taxlaw-2807 284 34 . . PUNCT taxlaw-2807 285 1 71 71 NUM taxlaw-2807 285 2 see see VERB taxlaw-2807 285 3 shakow shakow NOUN taxlaw-2807 285 4 , , PUNCT taxlaw-2807 285 5 supra supra PROPN taxlaw-2807 285 6 note note NOUN taxlaw-2807 285 7 9 9 NUM taxlaw-2807 285 8 , , PUNCT taxlaw-2807 285 9 at at ADP taxlaw-2807 285 10 1118 1118 NUM taxlaw-2807 285 11 . . PUNCT taxlaw-2807 286 1 72 72 NUM taxlaw-2807 286 2 see see VERB taxlaw-2807 286 3 weisbach weisbach NOUN taxlaw-2807 286 4 , , PUNCT taxlaw-2807 286 5 supra supra ADJ taxlaw-2807 286 6 note note NOUN taxlaw-2807 286 7 1 1 NUM taxlaw-2807 286 8 , , PUNCT taxlaw-2807 286 9 at at ADP taxlaw-2807 286 10 122 122 NUM taxlaw-2807 286 11 . . PUNCT taxlaw-2807 287 1 for for ADP taxlaw-2807 287 2 example example NOUN taxlaw-2807 287 3 , , PUNCT taxlaw-2807 287 4 expanded expand VERB taxlaw-2807 287 5 use use NOUN taxlaw-2807 287 6 of of ADP taxlaw-2807 287 7 mark mark NOUN taxlaw-2807 287 8 - - PUNCT taxlaw-2807 287 9 to to ADP taxlaw-2807 287 10 - - PUNCT taxlaw-2807 287 11 market market NOUN taxlaw-2807 287 12 methods method NOUN taxlaw-2807 287 13 would would AUX taxlaw-2807 287 14 call call VERB taxlaw-2807 287 15 into into ADP taxlaw-2807 287 16 question question NOUN taxlaw-2807 287 17 the the DET taxlaw-2807 287 18 need need NOUN taxlaw-2807 287 19 for for ADP taxlaw-2807 287 20 non non ADJ taxlaw-2807 287 21 - - ADJ taxlaw-2807 287 22 recognition recognition ADJ taxlaw-2807 287 23 transactions transaction NOUN taxlaw-2807 287 24 and and CCONJ taxlaw-2807 287 25 favorable favorable ADJ taxlaw-2807 287 26 capital capital NOUN taxlaw-2807 287 27 gains gain NOUN taxlaw-2807 287 28 rates rate NOUN taxlaw-2807 287 29 . . PUNCT taxlaw-2807 288 1 73 73 NUM taxlaw-2807 288 2 see see VERB taxlaw-2807 288 3 , , PUNCT taxlaw-2807 288 4 e.g. e.g. ADV taxlaw-2807 288 5 , , PUNCT taxlaw-2807 288 6 joseph joseph PROPN taxlaw-2807 288 7 bankman bankman PROPN taxlaw-2807 288 8 & & CCONJ taxlaw-2807 288 9 thomas thomas PROPN taxlaw-2807 288 10 griffith griffith PROPN taxlaw-2807 288 11 , , PUNCT taxlaw-2807 288 12 social social ADJ taxlaw-2807 288 13 welfare welfare NOUN taxlaw-2807 288 14 and and CCONJ taxlaw-2807 288 15 the the DET taxlaw-2807 288 16 rate rate NOUN taxlaw-2807 288 17 structure structure NOUN taxlaw-2807 288 18 : : PUNCT taxlaw-2807 288 19 a a DET taxlaw-2807 288 20 new new ADJ taxlaw-2807 288 21 look look NOUN taxlaw-2807 288 22 at at ADP taxlaw-2807 288 23 progressive progressive ADJ taxlaw-2807 288 24 taxation taxation NOUN taxlaw-2807 288 25 , , PUNCT taxlaw-2807 288 26 75 75 NUM taxlaw-2807 288 27 calif calif PROPN taxlaw-2807 288 28 . . PUNCT taxlaw-2807 289 1 l. l. PROPN taxlaw-2807 289 2 rev rev PROPN taxlaw-2807 289 3 . . PROPN taxlaw-2807 289 4 1905 1905 NUM taxlaw-2807 289 5 , , PUNCT taxlaw-2807 289 6 1921 1921 NUM taxlaw-2807 289 7 ( ( PUNCT taxlaw-2807 289 8 1987 1987 NUM taxlaw-2807 289 9 ) ) PUNCT taxlaw-2807 289 10 . . PUNCT taxlaw-2807 290 1 2011 2011 NUM taxlaw-2807 290 2 ] ] PUNCT taxlaw-2807 290 3 realization realization NOUN taxlaw-2807 290 4 and and CCONJ taxlaw-2807 290 5 progressivity progressivity NOUN taxlaw-2807 290 6 57 57 NUM taxlaw-2807 290 7 the the DET taxlaw-2807 290 8 argument argument NOUN taxlaw-2807 290 9 for for ADP taxlaw-2807 290 10 a a DET taxlaw-2807 290 11 shift shift NOUN taxlaw-2807 290 12 to to ADP taxlaw-2807 290 13 a a DET taxlaw-2807 290 14 mark mark VERB taxlaw-2807 290 15 - - PUNCT taxlaw-2807 290 16 to to ADP taxlaw-2807 290 17 - - PUNCT taxlaw-2807 290 18 market market NOUN taxlaw-2807 290 19 regime regime NOUN taxlaw-2807 290 20 is be AUX taxlaw-2807 290 21 undeniably undeniably ADV taxlaw-2807 290 22 strong,74 strong,74 ADJ taxlaw-2807 290 23 but but CCONJ taxlaw-2807 290 24 also also ADV taxlaw-2807 290 25 materially materially ADV taxlaw-2807 290 26 incomplete incomplete ADJ taxlaw-2807 290 27 . . PUNCT taxlaw-2807 291 1 it it PRON taxlaw-2807 291 2 fails fail VERB taxlaw-2807 291 3 to to PART taxlaw-2807 291 4 give give VERB taxlaw-2807 291 5 sufficient sufficient ADJ taxlaw-2807 291 6 weight weight NOUN taxlaw-2807 291 7 to to ADP taxlaw-2807 291 8 two two NUM taxlaw-2807 291 9 important important ADJ taxlaw-2807 291 10 points point NOUN taxlaw-2807 291 11 . . PUNCT taxlaw-2807 292 1 first first ADV taxlaw-2807 292 2 , , PUNCT taxlaw-2807 292 3 none none NOUN taxlaw-2807 292 4 of of ADP taxlaw-2807 292 5 the the DET taxlaw-2807 292 6 proposals proposal NOUN taxlaw-2807 292 7 advocates advocate VERB taxlaw-2807 292 8 a a DET taxlaw-2807 292 9 shift shift NOUN taxlaw-2807 292 10 to to ADP taxlaw-2807 292 11 a a DET taxlaw-2807 292 12 comprehensive comprehensive ADJ taxlaw-2807 292 13 mark mark NOUN taxlaw-2807 292 14 - - PUNCT taxlaw-2807 292 15 to to ADP taxlaw-2807 292 16 - - PUNCT taxlaw-2807 292 17 market market NOUN taxlaw-2807 292 18 regime regime NOUN taxlaw-2807 292 19 , , PUNCT taxlaw-2807 292 20 and and CCONJ taxlaw-2807 292 21 the the DET taxlaw-2807 292 22 claim claim NOUN taxlaw-2807 292 23 that that SCONJ taxlaw-2807 292 24 comprehensive comprehensive ADJ taxlaw-2807 292 25 mark mark NOUN taxlaw-2807 292 26 - - PUNCT taxlaw-2807 292 27 to to ADP taxlaw-2807 292 28 - - PUNCT taxlaw-2807 292 29 market market NOUN taxlaw-2807 292 30 taxation taxation NOUN taxlaw-2807 292 31 would would AUX taxlaw-2807 292 32 be be AUX taxlaw-2807 292 33 beneficial beneficial ADJ taxlaw-2807 292 34 says say VERB taxlaw-2807 292 35 little little ADJ taxlaw-2807 292 36 , , PUNCT taxlaw-2807 292 37 if if SCONJ taxlaw-2807 292 38 anything anything PRON taxlaw-2807 292 39 , , PUNCT taxlaw-2807 292 40 about about ADP taxlaw-2807 292 41 whether whether SCONJ taxlaw-2807 292 42 a a DET taxlaw-2807 292 43 shift shift NOUN taxlaw-2807 292 44 to to ADP taxlaw-2807 292 45 a a DET taxlaw-2807 292 46 partial partial ADJ taxlaw-2807 292 47 regime regime NOUN taxlaw-2807 292 48 would would AUX taxlaw-2807 292 49 be be AUX taxlaw-2807 292 50 positive positive ADJ taxlaw-2807 292 51 . . PUNCT taxlaw-2807 293 1 a a DET taxlaw-2807 293 2 partial partial ADJ taxlaw-2807 293 3 markto markto NOUN taxlaw-2807 293 4 - - PUNCT taxlaw-2807 293 5 market market NOUN taxlaw-2807 293 6 regime regime NOUN taxlaw-2807 293 7 covering cover VERB taxlaw-2807 293 8 fifty fifty NUM taxlaw-2807 293 9 percent percent NOUN taxlaw-2807 293 10 of of ADP taxlaw-2807 293 11 assets asset NOUN taxlaw-2807 293 12 would would AUX taxlaw-2807 293 13 not not PART taxlaw-2807 293 14 be be AUX taxlaw-2807 293 15 likely likely ADJ taxlaw-2807 293 16 to to PART taxlaw-2807 293 17 eliminate eliminate VERB taxlaw-2807 293 18 fifty fifty NUM taxlaw-2807 293 19 percent percent NOUN taxlaw-2807 293 20 of of ADP taxlaw-2807 293 21 the the DET taxlaw-2807 293 22 problems problem NOUN taxlaw-2807 293 23 associated associate VERB taxlaw-2807 293 24 with with ADP taxlaw-2807 293 25 the the DET taxlaw-2807 293 26 realization realization NOUN taxlaw-2807 293 27 requirement requirement NOUN taxlaw-2807 293 28 . . PUNCT taxlaw-2807 294 1 in in ADP taxlaw-2807 294 2 fact fact NOUN taxlaw-2807 294 3 , , PUNCT taxlaw-2807 294 4 as as SCONJ taxlaw-2807 294 5 described describe VERB taxlaw-2807 294 6 in in ADP taxlaw-2807 294 7 the the DET taxlaw-2807 294 8 next next ADJ taxlaw-2807 294 9 part part NOUN taxlaw-2807 294 10 , , PUNCT taxlaw-2807 294 11 it it PRON taxlaw-2807 294 12 would would AUX taxlaw-2807 294 13 likely likely ADV taxlaw-2807 294 14 give give VERB taxlaw-2807 294 15 rise rise NOUN taxlaw-2807 294 16 to to ADP taxlaw-2807 294 17 new new ADJ taxlaw-2807 294 18 problems problem NOUN taxlaw-2807 294 19 . . PUNCT taxlaw-2807 295 1 the the DET taxlaw-2807 295 2 overall overall ADJ taxlaw-2807 295 3 advantages advantage NOUN taxlaw-2807 295 4 of of ADP taxlaw-2807 295 5 a a DET taxlaw-2807 295 6 partial partial ADJ taxlaw-2807 295 7 mark mark NOUN taxlaw-2807 295 8 - - PUNCT taxlaw-2807 295 9 to to ADP taxlaw-2807 295 10 - - PUNCT taxlaw-2807 295 11 market market NOUN taxlaw-2807 295 12 regime regime NOUN taxlaw-2807 295 13 are be AUX taxlaw-2807 295 14 therefore therefore ADV taxlaw-2807 295 15 somewhat somewhat ADV taxlaw-2807 295 16 speculative speculative ADJ taxlaw-2807 295 17 . . PUNCT taxlaw-2807 296 1 second second ADJ taxlaw-2807 296 2 , , PUNCT taxlaw-2807 296 3 none none NOUN taxlaw-2807 296 4 of of ADP taxlaw-2807 296 5 these these DET taxlaw-2807 296 6 approaches approach NOUN taxlaw-2807 296 7 explains explain VERB taxlaw-2807 296 8 why why SCONJ taxlaw-2807 296 9 the the DET taxlaw-2807 296 10 realization realization NOUN taxlaw-2807 296 11 requirement requirement NOUN taxlaw-2807 296 12 should should AUX taxlaw-2807 296 13 not not PART taxlaw-2807 296 14 be be AUX taxlaw-2807 296 15 eliminated eliminate VERB taxlaw-2807 296 16 altogether altogether ADV taxlaw-2807 296 17 through through ADP taxlaw-2807 296 18 mark mark NOUN taxlaw-2807 296 19 - - PUNCT taxlaw-2807 296 20 to to ADP taxlaw-2807 296 21 - - PUNCT taxlaw-2807 296 22 market market NOUN taxlaw-2807 296 23 auditing auditing NOUN taxlaw-2807 296 24 when when SCONJ taxlaw-2807 296 25 there there PRON taxlaw-2807 296 26 is be VERB taxlaw-2807 296 27 no no DET taxlaw-2807 296 28 problem problem NOUN taxlaw-2807 296 29 of of ADP taxlaw-2807 296 30 valuation valuation NOUN taxlaw-2807 296 31 . . PUNCT taxlaw-2807 297 1 b. b. PROPN taxlaw-2807 297 2 with with ADP taxlaw-2807 297 3 it it PRON taxlaw-2807 297 4 : : PUNCT taxlaw-2807 297 5 some some DET taxlaw-2807 297 6 hidden hidden ADJ taxlaw-2807 297 7 justifications justification NOUN taxlaw-2807 297 8 for for ADP taxlaw-2807 297 9 realization realization NOUN taxlaw-2807 297 10 most most ADJ taxlaw-2807 297 11 advocates advocate NOUN taxlaw-2807 297 12 of of ADP taxlaw-2807 297 13 the the DET taxlaw-2807 297 14 realization realization NOUN taxlaw-2807 297 15 requirement requirement NOUN taxlaw-2807 297 16 support support NOUN taxlaw-2807 297 17 it it PRON taxlaw-2807 297 18 only only ADV taxlaw-2807 297 19 on on ADP taxlaw-2807 297 20 a a DET taxlaw-2807 297 21 second second ADJ taxlaw-2807 297 22 best good ADJ taxlaw-2807 297 23 basis.75 basis.75 ADJ taxlaw-2807 297 24 they they PRON taxlaw-2807 297 25 advance advance VERB taxlaw-2807 297 26 two two NUM taxlaw-2807 297 27 lines line NOUN taxlaw-2807 297 28 of of ADP taxlaw-2807 297 29 argument argument NOUN taxlaw-2807 297 30 : : PUNCT taxlaw-2807 297 31 the the DET taxlaw-2807 297 32 costs cost NOUN taxlaw-2807 297 33 of of ADP taxlaw-2807 297 34 the the DET taxlaw-2807 297 35 requirement requirement NOUN taxlaw-2807 297 36 are be AUX taxlaw-2807 297 37 not not PART taxlaw-2807 297 38 as as ADV taxlaw-2807 297 39 high high ADJ taxlaw-2807 297 40 as as SCONJ taxlaw-2807 297 41 they they PRON taxlaw-2807 297 42 seem seem VERB taxlaw-2807 297 43 and and CCONJ taxlaw-2807 297 44 the the DET taxlaw-2807 297 45 alternative alternative NOUN taxlaw-2807 297 46 to to ADP taxlaw-2807 297 47 the the DET taxlaw-2807 297 48 realization realization NOUN taxlaw-2807 297 49 requirement requirement NOUN taxlaw-2807 297 50 , , PUNCT taxlaw-2807 297 51 a a DET taxlaw-2807 297 52 partial partial ADJ taxlaw-2807 297 53 mark mark NOUN taxlaw-2807 297 54 - - PUNCT taxlaw-2807 297 55 to to ADP taxlaw-2807 297 56 - - PUNCT taxlaw-2807 297 57 market market NOUN taxlaw-2807 297 58 regime regime NOUN taxlaw-2807 297 59 , , PUNCT taxlaw-2807 297 60 would would AUX taxlaw-2807 297 61 introduce introduce VERB taxlaw-2807 297 62 new new ADJ taxlaw-2807 297 63 , , PUNCT taxlaw-2807 297 64 deeper deep ADJ taxlaw-2807 297 65 problems problem NOUN taxlaw-2807 297 66 . . PUNCT taxlaw-2807 298 1 both both PRON taxlaw-2807 298 2 of of ADP taxlaw-2807 298 3 these these DET taxlaw-2807 298 4 arguments argument NOUN taxlaw-2807 298 5 engage engage VERB taxlaw-2807 298 6 in in ADP taxlaw-2807 298 7 a a DET taxlaw-2807 298 8 hypothetical hypothetical ADJ taxlaw-2807 298 9 cost cost NOUN taxlaw-2807 298 10 – – PUNCT taxlaw-2807 298 11 benefit benefit NOUN taxlaw-2807 298 12 analysis analysis NOUN taxlaw-2807 298 13 in in ADP taxlaw-2807 298 14 an an DET taxlaw-2807 298 15 effort effort NOUN taxlaw-2807 298 16 to to PART taxlaw-2807 298 17 determine determine VERB taxlaw-2807 298 18 whether whether SCONJ taxlaw-2807 298 19 a a DET taxlaw-2807 298 20 shift shift NOUN taxlaw-2807 298 21 from from ADP taxlaw-2807 298 22 the the DET taxlaw-2807 298 23 current current ADJ taxlaw-2807 298 24 system system NOUN taxlaw-2807 298 25 to to ADP taxlaw-2807 298 26 a a DET taxlaw-2807 298 27 partial partial ADJ taxlaw-2807 298 28 mark mark NOUN taxlaw-2807 298 29 - - PUNCT taxlaw-2807 298 30 to to ADP taxlaw-2807 298 31 - - PUNCT taxlaw-2807 298 32 market market NOUN taxlaw-2807 298 33 regime regime NOUN taxlaw-2807 298 34 is be AUX taxlaw-2807 298 35 justified justify VERB taxlaw-2807 298 36 . . PUNCT taxlaw-2807 299 1 much much ADV taxlaw-2807 299 2 like like ADP taxlaw-2807 299 3 the the DET taxlaw-2807 299 4 arguments argument NOUN taxlaw-2807 299 5 in in ADP taxlaw-2807 299 6 favor favor NOUN taxlaw-2807 299 7 of of ADP taxlaw-2807 299 8 a a DET taxlaw-2807 299 9 mark mark NOUN taxlaw-2807 299 10 - - PUNCT taxlaw-2807 299 11 to to ADP taxlaw-2807 299 12 - - PUNCT taxlaw-2807 299 13 market market NOUN taxlaw-2807 299 14 regime regime NOUN taxlaw-2807 299 15 , , PUNCT taxlaw-2807 299 16 this this DET taxlaw-2807 299 17 analysis analysis NOUN taxlaw-2807 299 18 provides provide VERB taxlaw-2807 299 19 little little ADJ taxlaw-2807 299 20 insight insight NOUN taxlaw-2807 299 21 into into ADP taxlaw-2807 299 22 the the DET taxlaw-2807 299 23 policy policy NOUN taxlaw-2807 299 24 goals goal NOUN taxlaw-2807 299 25 the the DET taxlaw-2807 299 26 realization realization NOUN taxlaw-2807 299 27 requirement requirement NOUN taxlaw-2807 299 28 may may AUX taxlaw-2807 299 29 promote promote VERB taxlaw-2807 299 30 . . PUNCT taxlaw-2807 300 1 after after ADP taxlaw-2807 300 2 discussing discuss VERB taxlaw-2807 300 3 these these DET taxlaw-2807 300 4 two two NUM taxlaw-2807 300 5 lines line NOUN taxlaw-2807 300 6 of of ADP taxlaw-2807 300 7 argument argument NOUN taxlaw-2807 300 8 , , PUNCT taxlaw-2807 300 9 this this DET taxlaw-2807 300 10 subpart subpart NOUN taxlaw-2807 300 11 surveys survey NOUN taxlaw-2807 300 12 and and CCONJ taxlaw-2807 300 13 evaluates evaluate VERB taxlaw-2807 300 14 the the DET taxlaw-2807 300 15 relatively relatively ADV taxlaw-2807 300 16 recent recent ADJ taxlaw-2807 300 17 policy policy NOUN taxlaw-2807 300 18 argument argument NOUN taxlaw-2807 300 19 made make VERB taxlaw-2807 300 20 by by ADP taxlaw-2807 300 21 david david PROPN taxlaw-2807 300 22 schizer schizer PROPN taxlaw-2807 300 23 in in ADP taxlaw-2807 300 24 favor favor NOUN taxlaw-2807 300 25 of of ADP taxlaw-2807 300 26 realization.76 realization.76 NOUN taxlaw-2807 300 27 the the DET taxlaw-2807 300 28 first first ADJ taxlaw-2807 300 29 set set NOUN taxlaw-2807 300 30 of of ADP taxlaw-2807 300 31 arguments argument NOUN taxlaw-2807 300 32 stresses stress VERB taxlaw-2807 300 33 that that SCONJ taxlaw-2807 300 34 there there PRON taxlaw-2807 300 35 are be VERB taxlaw-2807 300 36 two two NUM taxlaw-2807 300 37 types type NOUN taxlaw-2807 300 38 of of ADP taxlaw-2807 300 39 efficiency efficiency NOUN taxlaw-2807 300 40 considerations consideration NOUN taxlaw-2807 300 41 — — PUNCT taxlaw-2807 300 42 preand preand VERB taxlaw-2807 300 43 post post NOUN taxlaw-2807 300 44 - - NOUN taxlaw-2807 300 45 investment investment NOUN taxlaw-2807 300 46 . . PUNCT taxlaw-2807 301 1 77 77 NUM taxlaw-2807 301 2 the the DET taxlaw-2807 301 3 realization realization NOUN taxlaw-2807 301 4 requirement requirement NOUN taxlaw-2807 301 5 obviously obviously ADV taxlaw-2807 301 6 distorts distort VERB taxlaw-2807 301 7 post post ADJ taxlaw-2807 301 8 - - ADJ taxlaw-2807 301 9 investment investment ADJ taxlaw-2807 301 10 considerations consideration NOUN taxlaw-2807 301 11 of of ADP taxlaw-2807 301 12 whether whether SCONJ taxlaw-2807 301 13 to to PART taxlaw-2807 301 14 engage engage VERB taxlaw-2807 301 15 in in ADP taxlaw-2807 301 16 a a DET taxlaw-2807 301 17 sale sale NOUN taxlaw-2807 301 18 or or CCONJ taxlaw-2807 301 19 exchange exchange NOUN taxlaw-2807 301 20 of of ADP taxlaw-2807 301 21 an an DET taxlaw-2807 301 22 asset asset NOUN taxlaw-2807 301 23 . . PUNCT taxlaw-2807 302 1 however however ADV taxlaw-2807 302 2 , , PUNCT taxlaw-2807 302 3 if if SCONJ taxlaw-2807 302 4 imposed impose VERB taxlaw-2807 302 5 uniformly uniformly ADV taxlaw-2807 302 6 on on ADP taxlaw-2807 302 7 all all DET taxlaw-2807 302 8 assets asset NOUN taxlaw-2807 302 9 , , PUNCT taxlaw-2807 302 10 it it PRON taxlaw-2807 302 11 does do AUX taxlaw-2807 302 12 not not PART taxlaw-2807 302 13 necessarily necessarily ADV taxlaw-2807 302 14 reduce reduce VERB taxlaw-2807 302 15 the the DET taxlaw-2807 302 16 efficiency efficiency NOUN taxlaw-2807 302 17 of of ADP taxlaw-2807 302 18 pre pre ADJ taxlaw-2807 302 19 - - ADJ taxlaw-2807 302 20 investment investment ADJ taxlaw-2807 302 21 decisions decision NOUN taxlaw-2807 302 22 between between ADP taxlaw-2807 302 23 different different ADJ taxlaw-2807 302 24 investment investment NOUN taxlaw-2807 302 25 opportunities opportunity NOUN taxlaw-2807 302 26 and and CCONJ taxlaw-2807 302 27 consumption.78 consumption.78 VERB taxlaw-2807 302 28 proponents proponent NOUN taxlaw-2807 302 29 of of ADP taxlaw-2807 302 30 the the DET taxlaw-2807 302 31 pre pre ADJ taxlaw-2807 302 32 - - ADJ taxlaw-2807 302 33 versus versus ADJ taxlaw-2807 302 34 - - PUNCT taxlaw-2807 302 35 post post ADJ taxlaw-2807 302 36 - - ADJ taxlaw-2807 302 37 investment investment ADJ taxlaw-2807 302 38 arguments argument NOUN taxlaw-2807 302 39 contend contend VERB taxlaw-2807 302 40 that that SCONJ taxlaw-2807 302 41 because because SCONJ taxlaw-2807 302 42 the the DET taxlaw-2807 302 43 realization realization NOUN taxlaw-2807 302 44 requirement requirement NOUN taxlaw-2807 302 45 does do AUX taxlaw-2807 302 46 not not PART taxlaw-2807 302 47 distort distort VERB taxlaw-2807 302 48 pre pre ADJ taxlaw-2807 302 49 - - ADJ taxlaw-2807 302 50 investment investment ADJ taxlaw-2807 302 51 decisions decision NOUN taxlaw-2807 302 52 , , PUNCT taxlaw-2807 302 53 the the DET taxlaw-2807 302 54 problems problem NOUN taxlaw-2807 302 55 with with ADP taxlaw-2807 302 56 it it PRON taxlaw-2807 302 57 are be AUX taxlaw-2807 302 58 overstated.79 overstated.79 NOUN taxlaw-2807 302 59 this this DET taxlaw-2807 302 60 analysis analysis NOUN taxlaw-2807 302 61 has have VERB taxlaw-2807 302 62 two two NUM taxlaw-2807 302 63 main main ADJ taxlaw-2807 302 64 weaknesses weakness NOUN taxlaw-2807 302 65 : : PUNCT taxlaw-2807 302 66 it it PRON taxlaw-2807 302 67 assumes assume VERB taxlaw-2807 302 68 that that SCONJ taxlaw-2807 302 69 the the DET taxlaw-2807 302 70 realization realization NOUN taxlaw-2807 302 71 requirement requirement NOUN taxlaw-2807 302 72 is be AUX taxlaw-2807 302 73 the the DET taxlaw-2807 302 74 only only ADJ taxlaw-2807 302 75 rule rule NOUN taxlaw-2807 302 76 that that PRON taxlaw-2807 302 77 could could AUX taxlaw-2807 302 78 be be AUX taxlaw-2807 302 79 broadly broadly ADV taxlaw-2807 302 80 applied apply VERB taxlaw-2807 302 81 and and CCONJ taxlaw-2807 302 82 that that SCONJ taxlaw-2807 302 83 the the DET taxlaw-2807 302 84 realization realization NOUN taxlaw-2807 302 85 requirement requirement NOUN taxlaw-2807 302 86 's 's PART taxlaw-2807 302 87 distortion distortion NOUN taxlaw-2807 302 88 of of ADP taxlaw-2807 302 89 post post ADJ taxlaw-2807 302 90 - - ADJ taxlaw-2807 302 91 investment investment ADJ taxlaw-2807 302 92 decisions decision NOUN taxlaw-2807 302 93 is be AUX taxlaw-2807 302 94 low low ADJ taxlaw-2807 302 95 . . PUNCT taxlaw-2807 303 1 in in ADP taxlaw-2807 303 2 recent recent ADJ taxlaw-2807 303 3 years year NOUN taxlaw-2807 303 4 , , PUNCT taxlaw-2807 303 5 both both DET taxlaw-2807 303 6 assumptions assumption NOUN taxlaw-2807 303 7 have have AUX taxlaw-2807 303 8 been be AUX taxlaw-2807 303 9 called call VERB taxlaw-2807 303 10 into into ADP taxlaw-2807 303 11 question question NOUN taxlaw-2807 303 12 . . PUNCT taxlaw-2807 304 1 first first ADV taxlaw-2807 304 2 , , PUNCT taxlaw-2807 304 3 experimentation experimentation NOUN taxlaw-2807 304 4 with with ADP taxlaw-2807 304 5 partial partial ADJ taxlaw-2807 304 6 mark mark NOUN taxlaw-2807 304 7 - - PUNCT taxlaw-2807 304 8 to to ADP taxlaw-2807 304 9 - - PUNCT taxlaw-2807 304 10 market market NOUN taxlaw-2807 304 11 regimes regime NOUN taxlaw-2807 304 12 shows show VERB taxlaw-2807 304 13 that that SCONJ taxlaw-2807 304 14 these these DET taxlaw-2807 304 15 regimes regime NOUN taxlaw-2807 304 16 are be AUX taxlaw-2807 304 17 administrable administrable ADJ taxlaw-2807 304 18 and and CCONJ taxlaw-2807 304 19 that that SCONJ taxlaw-2807 304 20 they they PRON taxlaw-2807 304 21 could could AUX taxlaw-2807 304 22 thus thus ADV taxlaw-2807 304 23 be be AUX taxlaw-2807 304 24 systematically systematically ADV taxlaw-2807 304 25 and and CCONJ taxlaw-2807 304 26 coherently coherently ADV taxlaw-2807 304 27 applied.80 applied.80 PROPN taxlaw-2807 304 28 second second PROPN taxlaw-2807 304 29 , , PUNCT taxlaw-2807 304 30 the the DET taxlaw-2807 304 31 development development NOUN taxlaw-2807 304 32 of of ADP taxlaw-2807 304 33 new new ADJ taxlaw-2807 304 34 74 74 NUM taxlaw-2807 304 35 see see NOUN taxlaw-2807 304 36 schizer schizer NOUN taxlaw-2807 304 37 , , PUNCT taxlaw-2807 304 38 supra supra PROPN taxlaw-2807 304 39 note note NOUN taxlaw-2807 304 40 1 1 NUM taxlaw-2807 304 41 , , PUNCT taxlaw-2807 304 42 at at ADP taxlaw-2807 304 43 1601 1601 NUM taxlaw-2807 304 44 ( ( PUNCT taxlaw-2807 304 45 acknowledging acknowledge VERB taxlaw-2807 304 46 that that SCONJ taxlaw-2807 304 47 a a DET taxlaw-2807 304 48 repeal repeal NOUN taxlaw-2807 304 49 of of ADP taxlaw-2807 304 50 realization realization NOUN taxlaw-2807 304 51 is be AUX taxlaw-2807 304 52 not not PART taxlaw-2807 304 53 totally totally ADV taxlaw-2807 304 54 unadministrable unadministrable ADJ taxlaw-2807 304 55 ) ) PUNCT taxlaw-2807 304 56 . . PUNCT taxlaw-2807 305 1 75 75 NUM taxlaw-2807 305 2 see see VERB taxlaw-2807 305 3 shaviro shaviro NOUN taxlaw-2807 305 4 , , PUNCT taxlaw-2807 305 5 supra supra PROPN taxlaw-2807 305 6 note note NOUN taxlaw-2807 305 7 1 1 NUM taxlaw-2807 305 8 , , PUNCT taxlaw-2807 305 9 at at ADP taxlaw-2807 305 10 5 5 NUM taxlaw-2807 305 11 . . PUNCT taxlaw-2807 306 1 see see AUX taxlaw-2807 306 2 also also ADV taxlaw-2807 306 3 schizer schizer VERB taxlaw-2807 306 4 , , PUNCT taxlaw-2807 306 5 supra supra PROPN taxlaw-2807 306 6 note note NOUN taxlaw-2807 306 7 1 1 NUM taxlaw-2807 306 8 , , PUNCT taxlaw-2807 306 9 at at ADP taxlaw-2807 306 10 1564–65 1564–65 NUM taxlaw-2807 306 11 ( ( PUNCT taxlaw-2807 306 12 referring refer VERB taxlaw-2807 306 13 to to ADP taxlaw-2807 306 14 all all DET taxlaw-2807 306 15 arguments argument NOUN taxlaw-2807 306 16 , , PUNCT taxlaw-2807 306 17 other other ADJ taxlaw-2807 306 18 than than ADP taxlaw-2807 306 19 his his PRON taxlaw-2807 306 20 own own ADJ taxlaw-2807 306 21 , , PUNCT taxlaw-2807 306 22 justifying justify VERB taxlaw-2807 306 23 realization realization NOUN taxlaw-2807 306 24 ) ) PUNCT taxlaw-2807 306 25 . . PUNCT taxlaw-2807 307 1 76 76 NUM taxlaw-2807 307 2 see see VERB taxlaw-2807 307 3 infra infra NOUN taxlaw-2807 307 4 notes note VERB taxlaw-2807 307 5 92–102 92–102 NUM taxlaw-2807 307 6 and and CCONJ taxlaw-2807 307 7 accompanying accompany VERB taxlaw-2807 307 8 text text NOUN taxlaw-2807 307 9 . . PUNCT taxlaw-2807 308 1 77 77 NUM taxlaw-2807 308 2 see see VERB taxlaw-2807 308 3 shaviro shaviro NOUN taxlaw-2807 308 4 , , PUNCT taxlaw-2807 308 5 supra supra PROPN taxlaw-2807 308 6 note note NOUN taxlaw-2807 308 7 1 1 NUM taxlaw-2807 308 8 , , PUNCT taxlaw-2807 308 9 at at ADP taxlaw-2807 308 10 24–26 24–26 NUM taxlaw-2807 308 11 . . PUNCT taxlaw-2807 309 1 78 78 NUM taxlaw-2807 309 2 in in ADP taxlaw-2807 309 3 fact fact NOUN taxlaw-2807 309 4 , , PUNCT taxlaw-2807 309 5 to to ADP taxlaw-2807 309 6 the the DET taxlaw-2807 309 7 extent extent NOUN taxlaw-2807 309 8 the the DET taxlaw-2807 309 9 realization realization NOUN taxlaw-2807 309 10 requirement requirement NOUN taxlaw-2807 309 11 provides provide VERB taxlaw-2807 309 12 tax tax NOUN taxlaw-2807 309 13 advantages advantage NOUN taxlaw-2807 309 14 for for ADP taxlaw-2807 309 15 investment investment NOUN taxlaw-2807 309 16 , , PUNCT taxlaw-2807 309 17 it it PRON taxlaw-2807 309 18 may may AUX taxlaw-2807 309 19 also also ADV taxlaw-2807 309 20 help help VERB taxlaw-2807 309 21 correct correct VERB taxlaw-2807 309 22 a a DET taxlaw-2807 309 23 bias bias NOUN taxlaw-2807 309 24 of of ADP taxlaw-2807 309 25 the the DET taxlaw-2807 309 26 income income NOUN taxlaw-2807 309 27 tax tax NOUN taxlaw-2807 309 28 for for ADP taxlaw-2807 309 29 saving saving NOUN taxlaw-2807 309 30 and and CCONJ taxlaw-2807 309 31 against against ADP taxlaw-2807 309 32 consumption consumption NOUN taxlaw-2807 309 33 . . PUNCT taxlaw-2807 310 1 see see VERB taxlaw-2807 310 2 shaviro shaviro NOUN taxlaw-2807 310 3 , , PUNCT taxlaw-2807 310 4 supra supra PROPN taxlaw-2807 310 5 note note NOUN taxlaw-2807 310 6 1 1 NUM taxlaw-2807 310 7 , , PUNCT taxlaw-2807 310 8 at at ADP taxlaw-2807 310 9 27 27 NUM taxlaw-2807 310 10 . . PUNCT taxlaw-2807 311 1 79 79 NUM taxlaw-2807 311 2 see see VERB taxlaw-2807 311 3 chorvat chorvat NOUN taxlaw-2807 311 4 , , PUNCT taxlaw-2807 311 5 supra supra PROPN taxlaw-2807 311 6 note note NOUN taxlaw-2807 311 7 22 22 NUM taxlaw-2807 311 8 , , PUNCT taxlaw-2807 311 9 at at ADP taxlaw-2807 311 10 101–12 101–12 NUM taxlaw-2807 311 11 ( ( PUNCT taxlaw-2807 311 12 surveying survey VERB taxlaw-2807 311 13 the the DET taxlaw-2807 311 14 behavioral behavioral ADJ taxlaw-2807 311 15 economics economic NOUN taxlaw-2807 311 16 literature literature NOUN taxlaw-2807 311 17 , , PUNCT taxlaw-2807 311 18 which which PRON taxlaw-2807 311 19 points point VERB taxlaw-2807 311 20 out out ADP taxlaw-2807 311 21 that that SCONJ taxlaw-2807 311 22 taxpayers taxpayer NOUN taxlaw-2807 311 23 may may AUX taxlaw-2807 311 24 not not PART taxlaw-2807 311 25 take take VERB taxlaw-2807 311 26 full full ADJ taxlaw-2807 311 27 advantage advantage NOUN taxlaw-2807 311 28 of of ADP taxlaw-2807 311 29 the the DET taxlaw-2807 311 30 realization realization NOUN taxlaw-2807 311 31 requirement requirement NOUN taxlaw-2807 311 32 's 's PART taxlaw-2807 311 33 incentives incentive NOUN taxlaw-2807 311 34 because because SCONJ taxlaw-2807 311 35 of of ADP taxlaw-2807 311 36 other other ADJ taxlaw-2807 311 37 non non ADJ taxlaw-2807 311 38 - - ADJ taxlaw-2807 311 39 tax tax ADJ taxlaw-2807 311 40 considerations consideration NOUN taxlaw-2807 311 41 and and CCONJ taxlaw-2807 311 42 behavioral behavioral ADJ taxlaw-2807 311 43 attributes attribute NOUN taxlaw-2807 311 44 ) ) PUNCT taxlaw-2807 311 45 . . PUNCT taxlaw-2807 312 1 80 80 NUM taxlaw-2807 312 2 see see VERB taxlaw-2807 312 3 i.r.c i.r.c NOUN taxlaw-2807 312 4 . . PUNCT taxlaw-2807 313 1 § § PROPN taxlaw-2807 313 2 § § PROPN taxlaw-2807 313 3 475 475 NUM taxlaw-2807 313 4 ( ( PUNCT taxlaw-2807 313 5 2006 2006 NUM taxlaw-2807 313 6 ) ) PUNCT taxlaw-2807 313 7 , , PUNCT taxlaw-2807 313 8 1256 1256 NUM taxlaw-2807 313 9 ( ( PUNCT taxlaw-2807 313 10 west west NOUN taxlaw-2807 313 11 supp supp PROPN taxlaw-2807 313 12 . . PUNCT taxlaw-2807 314 1 2010 2010 NUM taxlaw-2807 314 2 ) ) PUNCT taxlaw-2807 314 3 ( ( PUNCT taxlaw-2807 314 4 enacted enact VERB taxlaw-2807 314 5 in in ADP taxlaw-2807 314 6 the the DET taxlaw-2807 314 7 1990s 1990 NOUN taxlaw-2807 314 8 and and CCONJ taxlaw-2807 314 9 imposing impose VERB taxlaw-2807 314 10 mark mark NOUN taxlaw-2807 314 11 - - PUNCT taxlaw-2807 314 12 tomarket tomarket NOUN taxlaw-2807 314 13 taxation taxation NOUN taxlaw-2807 314 14 on on ADP taxlaw-2807 314 15 segments segment NOUN taxlaw-2807 314 16 of of ADP taxlaw-2807 314 17 the the DET taxlaw-2807 314 18 financial financial ADJ taxlaw-2807 314 19 sector sector NOUN taxlaw-2807 314 20 ) ) PUNCT taxlaw-2807 314 21 . . PUNCT taxlaw-2807 315 1 58 58 NUM taxlaw-2807 315 2 columbia columbia PROPN taxlaw-2807 315 3 journal journal PROPN taxlaw-2807 315 4 of of ADP taxlaw-2807 315 5 tax tax NOUN taxlaw-2807 315 6 law law NOUN taxlaw-2807 315 7 [ [ X taxlaw-2807 315 8 vol.3:43 vol.3:43 PROPN taxlaw-2807 315 9 financial financial ADJ taxlaw-2807 315 10 instruments instrument NOUN taxlaw-2807 315 11 has have AUX taxlaw-2807 315 12 introduced introduce VERB taxlaw-2807 315 13 new new ADJ taxlaw-2807 315 14 pressures pressure NOUN taxlaw-2807 315 15 on on ADP taxlaw-2807 315 16 the the DET taxlaw-2807 315 17 current current ADJ taxlaw-2807 315 18 tax tax NOUN taxlaw-2807 315 19 regime regime NOUN taxlaw-2807 315 20 by by ADP taxlaw-2807 315 21 allowing allow VERB taxlaw-2807 315 22 aggressive aggressive ADJ taxlaw-2807 315 23 tax tax NOUN taxlaw-2807 315 24 planners planner NOUN taxlaw-2807 315 25 to to PART taxlaw-2807 315 26 push push VERB taxlaw-2807 315 27 the the DET taxlaw-2807 315 28 boundaries boundary NOUN taxlaw-2807 315 29 of of ADP taxlaw-2807 315 30 realization realization NOUN taxlaw-2807 315 31 - - PUNCT taxlaw-2807 315 32 based base VERB taxlaw-2807 315 33 rules rule NOUN taxlaw-2807 315 34 to to ADP taxlaw-2807 315 35 new new ADJ taxlaw-2807 315 36 frontiers.81 frontiers.81 PROPN taxlaw-2807 315 37 a a DET taxlaw-2807 315 38 different different ADJ taxlaw-2807 315 39 , , PUNCT taxlaw-2807 315 40 and and CCONJ taxlaw-2807 315 41 perhaps perhaps ADV taxlaw-2807 315 42 stronger strong ADJ taxlaw-2807 315 43 , , PUNCT taxlaw-2807 315 44 argument argument NOUN taxlaw-2807 315 45 emphasizes emphasize VERB taxlaw-2807 315 46 that that SCONJ taxlaw-2807 315 47 realization realization NOUN taxlaw-2807 315 48 ’s ’s PART taxlaw-2807 315 49 social social ADJ taxlaw-2807 315 50 costs cost NOUN taxlaw-2807 315 51 may may AUX taxlaw-2807 315 52 be be AUX taxlaw-2807 315 53 lower low ADJ taxlaw-2807 315 54 than than ADP taxlaw-2807 315 55 those those PRON taxlaw-2807 315 56 of of ADP taxlaw-2807 315 57 any any DET taxlaw-2807 315 58 feasible feasible ADJ taxlaw-2807 315 59 mark mark NOUN taxlaw-2807 315 60 - - PUNCT taxlaw-2807 315 61 to to ADP taxlaw-2807 315 62 - - PUNCT taxlaw-2807 315 63 market market NOUN taxlaw-2807 315 64 regime.82 regime.82 NOUN taxlaw-2807 315 65 the the DET taxlaw-2807 315 66 advantages advantage NOUN taxlaw-2807 315 67 of of ADP taxlaw-2807 315 68 a a DET taxlaw-2807 315 69 full full ADJ taxlaw-2807 315 70 mark mark NOUN taxlaw-2807 315 71 - - PUNCT taxlaw-2807 315 72 to to ADP taxlaw-2807 315 73 - - PUNCT taxlaw-2807 315 74 market market NOUN taxlaw-2807 315 75 regime regime NOUN taxlaw-2807 315 76 would would AUX taxlaw-2807 315 77 not not PART taxlaw-2807 315 78 flow flow VERB taxlaw-2807 315 79 to to ADP taxlaw-2807 315 80 a a DET taxlaw-2807 315 81 partial partial ADJ taxlaw-2807 315 82 one one NOUN taxlaw-2807 315 83 , , PUNCT taxlaw-2807 315 84 which which PRON taxlaw-2807 315 85 would would AUX taxlaw-2807 315 86 remedy remedy VERB taxlaw-2807 315 87 some some DET taxlaw-2807 315 88 problems problem NOUN taxlaw-2807 315 89 only only ADV taxlaw-2807 315 90 at at ADP taxlaw-2807 315 91 the the DET taxlaw-2807 315 92 cost cost NOUN taxlaw-2807 315 93 of of ADP taxlaw-2807 315 94 aggravating aggravate VERB taxlaw-2807 315 95 others.83 others.83 PROPN taxlaw-2807 315 96 because because SCONJ taxlaw-2807 315 97 no no DET taxlaw-2807 315 98 reform reform NOUN taxlaw-2807 315 99 proposal proposal NOUN taxlaw-2807 315 100 suggests suggest VERB taxlaw-2807 315 101 applying apply VERB taxlaw-2807 315 102 a a DET taxlaw-2807 315 103 comprehensive comprehensive ADJ taxlaw-2807 315 104 mark mark NOUN taxlaw-2807 315 105 - - PUNCT taxlaw-2807 315 106 to to ADP taxlaw-2807 315 107 - - PUNCT taxlaw-2807 315 108 market market NOUN taxlaw-2807 315 109 regime,84 regime,84 VERB taxlaw-2807 315 110 taxpayers taxpayer NOUN taxlaw-2807 315 111 would would AUX taxlaw-2807 315 112 have have VERB taxlaw-2807 315 113 obvious obvious ADJ taxlaw-2807 315 114 incentives incentive NOUN taxlaw-2807 315 115 to to PART taxlaw-2807 315 116 be be AUX taxlaw-2807 315 117 in in ADP taxlaw-2807 315 118 one one NUM taxlaw-2807 315 119 category,85 category,85 NOUN taxlaw-2807 315 120 and and CCONJ taxlaw-2807 315 121 complex complex ADJ taxlaw-2807 315 122 line line NOUN taxlaw-2807 315 123 - - PUNCT taxlaw-2807 315 124 drawing draw VERB taxlaw-2807 315 125 rules rule NOUN taxlaw-2807 315 126 would would AUX taxlaw-2807 315 127 be be AUX taxlaw-2807 315 128 required require VERB taxlaw-2807 315 129 to to PART taxlaw-2807 315 130 reduce reduce VERB taxlaw-2807 315 131 manipulation.86 manipulation.86 NOUN taxlaw-2807 315 132 another another DET taxlaw-2807 315 133 argument argument NOUN taxlaw-2807 315 134 for for ADP taxlaw-2807 315 135 maintaining maintain VERB taxlaw-2807 315 136 the the DET taxlaw-2807 315 137 requirement requirement NOUN taxlaw-2807 315 138 contends contend VERB taxlaw-2807 315 139 that that SCONJ taxlaw-2807 315 140 most most ADJ taxlaw-2807 315 141 individuals individual NOUN taxlaw-2807 315 142 do do AUX taxlaw-2807 315 143 not not PART taxlaw-2807 315 144 consider consider VERB taxlaw-2807 315 145 unrealized unrealized ADJ taxlaw-2807 315 146 gains gain NOUN taxlaw-2807 315 147 as as ADP taxlaw-2807 315 148 real.87 real.87 VERB taxlaw-2807 315 149 according accord VERB taxlaw-2807 315 150 to to ADP taxlaw-2807 315 151 some some DET taxlaw-2807 315 152 research research NOUN taxlaw-2807 315 153 in in ADP taxlaw-2807 315 154 behavioral behavioral ADJ taxlaw-2807 315 155 economics economic NOUN taxlaw-2807 315 156 , , PUNCT taxlaw-2807 315 157 individuals individual NOUN taxlaw-2807 315 158 seem seem VERB taxlaw-2807 315 159 to to PART taxlaw-2807 315 160 distinguish distinguish VERB taxlaw-2807 315 161 between between ADP taxlaw-2807 315 162 realized realize VERB taxlaw-2807 315 163 ( ( PUNCT taxlaw-2807 315 164 real real ADJ taxlaw-2807 315 165 ) ) PUNCT taxlaw-2807 315 166 and and CCONJ taxlaw-2807 315 167 unrealized unrealized ADJ taxlaw-2807 315 168 ( ( PUNCT taxlaw-2807 315 169 paper paper NOUN taxlaw-2807 315 170 ) ) PUNCT taxlaw-2807 315 171 gains gain NOUN taxlaw-2807 315 172 and and CCONJ taxlaw-2807 315 173 significantly significantly ADV taxlaw-2807 315 174 discount discount VERB taxlaw-2807 315 175 the the DET taxlaw-2807 315 176 latter latter ADJ taxlaw-2807 315 177 for for ADP taxlaw-2807 315 178 purposes purpose NOUN taxlaw-2807 315 179 of of ADP taxlaw-2807 315 180 evaluating evaluate VERB taxlaw-2807 315 181 their their PRON taxlaw-2807 315 182 wealth wealth NOUN taxlaw-2807 315 183 or or CCONJ taxlaw-2807 315 184 welfare.88 welfare.88 NOUN taxlaw-2807 315 185 this this DET taxlaw-2807 315 186 process process NOUN taxlaw-2807 315 187 of of ADP taxlaw-2807 315 188 “ " PUNCT taxlaw-2807 315 189 mental mental ADJ taxlaw-2807 315 190 accounting accounting NOUN taxlaw-2807 315 191 ” " PUNCT taxlaw-2807 315 192 goes go VERB taxlaw-2807 315 193 a a DET taxlaw-2807 315 194 long long ADJ taxlaw-2807 315 195 way way NOUN taxlaw-2807 315 196 toward toward ADP taxlaw-2807 315 197 explaining explain VERB taxlaw-2807 315 198 the the DET taxlaw-2807 315 199 requirement requirement NOUN taxlaw-2807 315 200 ’s ’s PART taxlaw-2807 315 201 endurance endurance NOUN taxlaw-2807 315 202 . . PUNCT taxlaw-2807 316 1 89 89 NUM taxlaw-2807 316 2 these these DET taxlaw-2807 316 3 common common ADJ taxlaw-2807 316 4 perceptions perception NOUN taxlaw-2807 316 5 about about ADP taxlaw-2807 316 6 the the DET taxlaw-2807 316 7 realization realization NOUN taxlaw-2807 316 8 requirement requirement NOUN taxlaw-2807 316 9 are be AUX taxlaw-2807 316 10 important important ADJ taxlaw-2807 316 11 in in ADP taxlaw-2807 316 12 terms term NOUN taxlaw-2807 316 13 of of ADP taxlaw-2807 316 14 legitimacy legitimacy NOUN taxlaw-2807 316 15 and and CCONJ taxlaw-2807 316 16 compliance compliance NOUN taxlaw-2807 316 17 , , PUNCT taxlaw-2807 316 18 two two NUM taxlaw-2807 316 19 crucial crucial ADJ taxlaw-2807 316 20 elements element NOUN taxlaw-2807 316 21 in in ADP taxlaw-2807 316 22 the the DET taxlaw-2807 316 23 current current ADJ taxlaw-2807 316 24 self self NOUN taxlaw-2807 316 25 - - PUNCT taxlaw-2807 316 26 reporting report VERB taxlaw-2807 316 27 regime.90 regime.90 ADV taxlaw-2807 316 28 yet yet ADV taxlaw-2807 316 29 the the DET taxlaw-2807 316 30 popular popular ADJ taxlaw-2807 316 31 perception perception NOUN taxlaw-2807 316 32 observation observation NOUN taxlaw-2807 316 33 fails fail VERB taxlaw-2807 316 34 to to PART taxlaw-2807 316 35 explain explain VERB taxlaw-2807 316 36 why why SCONJ taxlaw-2807 316 37 , , PUNCT taxlaw-2807 316 38 and and CCONJ taxlaw-2807 316 39 more more ADV taxlaw-2807 316 40 importantly importantly ADV taxlaw-2807 316 41 , , PUNCT taxlaw-2807 316 42 how how SCONJ taxlaw-2807 316 43 this this DET taxlaw-2807 316 44 vague vague ADJ taxlaw-2807 316 45 notion notion NOUN taxlaw-2807 316 46 of of ADP taxlaw-2807 316 47 popularity popularity NOUN taxlaw-2807 316 48 should should AUX taxlaw-2807 316 49 guide guide VERB taxlaw-2807 316 50 policymakers.91 policymakers.91 PROPN taxlaw-2807 316 51 moreover moreover ADV taxlaw-2807 316 52 , , PUNCT taxlaw-2807 316 53 since since SCONJ taxlaw-2807 316 54 paper paper NOUN taxlaw-2807 316 55 gains gain NOUN taxlaw-2807 316 56 ( ( PUNCT taxlaw-2807 316 57 and and CCONJ taxlaw-2807 316 58 losses loss NOUN taxlaw-2807 316 59 ) ) PUNCT taxlaw-2807 316 60 are be AUX taxlaw-2807 316 61 only only ADV taxlaw-2807 316 62 discounted discount VERB taxlaw-2807 316 63 and and CCONJ taxlaw-2807 316 64 not not PART taxlaw-2807 316 65 disregarded disregard VERB taxlaw-2807 316 66 altogether altogether ADV taxlaw-2807 316 67 , , PUNCT taxlaw-2807 316 68 mental mental ADJ taxlaw-2807 316 69 accounting accounting NOUN taxlaw-2807 316 70 at at ADP taxlaw-2807 316 71 best good ADJ taxlaw-2807 316 72 suggests suggest VERB taxlaw-2807 316 73 that that SCONJ taxlaw-2807 316 74 unrealized unrealized ADJ taxlaw-2807 316 75 gains gain NOUN taxlaw-2807 316 76 should should AUX taxlaw-2807 316 77 not not PART taxlaw-2807 316 78 be be AUX taxlaw-2807 316 79 fully fully ADV taxlaw-2807 316 80 taxed tax VERB taxlaw-2807 316 81 — — PUNCT taxlaw-2807 316 82 not not PART taxlaw-2807 316 83 that that SCONJ taxlaw-2807 316 84 they they PRON taxlaw-2807 316 85 should should AUX taxlaw-2807 316 86 be be AUX taxlaw-2807 316 87 completely completely ADV taxlaw-2807 316 88 ignored ignore VERB taxlaw-2807 316 89 . . PUNCT taxlaw-2807 317 1 for for ADP taxlaw-2807 317 2 example example NOUN taxlaw-2807 317 3 , , PUNCT taxlaw-2807 317 4 if if SCONJ taxlaw-2807 317 5 the the DET taxlaw-2807 317 6 general general ADJ taxlaw-2807 317 7 public public ADJ taxlaw-2807 317 8 discounts discount NOUN taxlaw-2807 317 9 paper paper NOUN taxlaw-2807 317 10 gains gain NOUN taxlaw-2807 317 11 by by ADP taxlaw-2807 317 12 30 30 NUM taxlaw-2807 317 13 % % NOUN taxlaw-2807 317 14 , , PUNCT taxlaw-2807 317 15 then then ADV taxlaw-2807 317 16 70 70 NUM taxlaw-2807 317 17 % % NOUN taxlaw-2807 317 18 of of ADP taxlaw-2807 317 19 the the DET taxlaw-2807 317 20 change change NOUN taxlaw-2807 317 21 in in ADP taxlaw-2807 317 22 value value NOUN taxlaw-2807 317 23 should should AUX taxlaw-2807 317 24 be be AUX taxlaw-2807 317 25 taxed tax VERB taxlaw-2807 317 26 on on ADP taxlaw-2807 317 27 a a DET taxlaw-2807 317 28 mark mark NOUN taxlaw-2807 317 29 - - PUNCT taxlaw-2807 317 30 to to ADP taxlaw-2807 317 31 - - PUNCT taxlaw-2807 317 32 market market NOUN taxlaw-2807 317 33 basis basis NOUN taxlaw-2807 317 34 . . PUNCT taxlaw-2807 318 1 to to PART taxlaw-2807 318 2 be be AUX taxlaw-2807 318 3 clear clear ADJ taxlaw-2807 318 4 , , PUNCT taxlaw-2807 318 5 we we PRON taxlaw-2807 318 6 do do AUX taxlaw-2807 318 7 not not PART taxlaw-2807 318 8 reject reject VERB taxlaw-2807 318 9 the the DET taxlaw-2807 318 10 public public ADJ taxlaw-2807 318 11 perception perception NOUN taxlaw-2807 318 12 argument argument NOUN taxlaw-2807 318 13 . . PUNCT taxlaw-2807 319 1 as as SCONJ taxlaw-2807 319 2 parts part NOUN taxlaw-2807 319 3 iii iii NOUN taxlaw-2807 319 4 and and CCONJ taxlaw-2807 319 5 iv iv NUM taxlaw-2807 319 6 demonstrate demonstrate NOUN taxlaw-2807 319 7 , , PUNCT taxlaw-2807 319 8 we we PRON taxlaw-2807 319 9 explain explain VERB taxlaw-2807 319 10 and and CCONJ taxlaw-2807 319 11 , , PUNCT taxlaw-2807 319 12 to to ADP taxlaw-2807 319 13 a a DET taxlaw-2807 319 14 certain certain ADJ taxlaw-2807 319 15 extent extent NOUN taxlaw-2807 319 16 , , PUNCT taxlaw-2807 319 17 justify justify VERB taxlaw-2807 319 18 it it PRON taxlaw-2807 319 19 . . PUNCT taxlaw-2807 320 1 our our PRON taxlaw-2807 320 2 only only ADJ taxlaw-2807 320 3 point point NOUN taxlaw-2807 320 4 here here ADV taxlaw-2807 320 5 is be AUX taxlaw-2807 320 6 that that SCONJ taxlaw-2807 320 7 simply simply ADV taxlaw-2807 320 8 claiming claim VERB taxlaw-2807 320 9 the the DET taxlaw-2807 320 10 public public NOUN taxlaw-2807 320 11 wants want VERB taxlaw-2807 320 12 a a DET taxlaw-2807 320 13 rule rule NOUN taxlaw-2807 320 14 provides provide VERB taxlaw-2807 320 15 policymakers policymaker NOUN taxlaw-2807 320 16 with with ADP taxlaw-2807 320 17 little little ADJ taxlaw-2807 320 18 if if SCONJ taxlaw-2807 320 19 any any DET taxlaw-2807 320 20 guidance guidance NOUN taxlaw-2807 320 21 as as ADP taxlaw-2807 320 22 to to ADP taxlaw-2807 320 23 how how SCONJ taxlaw-2807 320 24 to to PART taxlaw-2807 320 25 structure structure VERB taxlaw-2807 320 26 good good ADJ taxlaw-2807 320 27 tax tax NOUN taxlaw-2807 320 28 policy policy NOUN taxlaw-2807 320 29 . . PUNCT taxlaw-2807 321 1 81 81 NUM taxlaw-2807 321 2 these these DET taxlaw-2807 321 3 rules rule NOUN taxlaw-2807 321 4 allow allow VERB taxlaw-2807 321 5 taxpayers taxpayer NOUN taxlaw-2807 321 6 to to PART taxlaw-2807 321 7 diversify diversify VERB taxlaw-2807 321 8 their their PRON taxlaw-2807 321 9 risks risk NOUN taxlaw-2807 321 10 and and CCONJ taxlaw-2807 321 11 cash cash VERB taxlaw-2807 321 12 out out ADP taxlaw-2807 321 13 their their PRON taxlaw-2807 321 14 investments investment NOUN taxlaw-2807 321 15 without without ADP taxlaw-2807 321 16 selling sell VERB taxlaw-2807 321 17 their their PRON taxlaw-2807 321 18 assets asset NOUN taxlaw-2807 321 19 and and CCONJ taxlaw-2807 321 20 realizing realize VERB taxlaw-2807 321 21 the the DET taxlaw-2807 321 22 associated associated ADJ taxlaw-2807 321 23 gains gain NOUN taxlaw-2807 321 24 . . PUNCT taxlaw-2807 322 1 see see VERB taxlaw-2807 322 2 generally generally ADV taxlaw-2807 322 3 daniel daniel PROPN taxlaw-2807 322 4 shaviro shaviro PROPN taxlaw-2807 322 5 , , PUNCT taxlaw-2807 322 6 risk risk NOUN taxlaw-2807 322 7 - - PUNCT taxlaw-2807 322 8 based base VERB taxlaw-2807 322 9 rules rule NOUN taxlaw-2807 322 10 and and CCONJ taxlaw-2807 322 11 the the DET taxlaw-2807 322 12 taxation taxation NOUN taxlaw-2807 322 13 of of ADP taxlaw-2807 322 14 capital capital NOUN taxlaw-2807 322 15 income income NOUN taxlaw-2807 322 16 , , PUNCT taxlaw-2807 322 17 50 50 NUM taxlaw-2807 322 18 tax tax NOUN taxlaw-2807 322 19 l. l. PROPN taxlaw-2807 322 20 rev rev PROPN taxlaw-2807 322 21 . . PROPN taxlaw-2807 322 22 643 643 NUM taxlaw-2807 322 23 ( ( PUNCT taxlaw-2807 322 24 1995 1995 NUM taxlaw-2807 322 25 ) ) PUNCT taxlaw-2807 322 26 ( ( PUNCT taxlaw-2807 322 27 explaining explain VERB taxlaw-2807 322 28 how how SCONJ taxlaw-2807 322 29 financial financial ADJ taxlaw-2807 322 30 derivatives derivative NOUN taxlaw-2807 322 31 allow allow VERB taxlaw-2807 322 32 taxpayers taxpayer NOUN taxlaw-2807 322 33 to to PART taxlaw-2807 322 34 attain attain VERB taxlaw-2807 322 35 certain certain ADJ taxlaw-2807 322 36 tax tax NOUN taxlaw-2807 322 37 arbitrages arbitrage NOUN taxlaw-2807 322 38 ) ) PUNCT taxlaw-2807 322 39 . . PUNCT taxlaw-2807 323 1 82 82 NUM taxlaw-2807 323 2 zelinsky zelinsky ADJ taxlaw-2807 323 3 , , PUNCT taxlaw-2807 323 4 supra supra ADJ taxlaw-2807 323 5 note note NOUN taxlaw-2807 323 6 8 8 NUM taxlaw-2807 323 7 , , PUNCT taxlaw-2807 323 8 at at ADP taxlaw-2807 323 9 939 939 NUM taxlaw-2807 323 10 . . PUNCT taxlaw-2807 324 1 83 83 NUM taxlaw-2807 324 2 these these DET taxlaw-2807 324 3 new new ADJ taxlaw-2807 324 4 problems problem NOUN taxlaw-2807 324 5 would would AUX taxlaw-2807 324 6 include include VERB taxlaw-2807 324 7 computation computation NOUN taxlaw-2807 324 8 complexity complexity NOUN taxlaw-2807 324 9 ( ( PUNCT taxlaw-2807 324 10 in in ADP taxlaw-2807 324 11 the the DET taxlaw-2807 324 12 case case NOUN taxlaw-2807 324 13 of of ADP taxlaw-2807 324 14 retrospective retrospective ADJ taxlaw-2807 324 15 taxation taxation NOUN taxlaw-2807 324 16 ) ) PUNCT taxlaw-2807 324 17 ; ; PUNCT taxlaw-2807 324 18 valuation valuation NOUN taxlaw-2807 324 19 cost cost NOUN taxlaw-2807 324 20 for for ADP taxlaw-2807 324 21 non non ADJ taxlaw-2807 324 22 - - ADJ taxlaw-2807 324 23 traded traded ADJ taxlaw-2807 324 24 assets asset NOUN taxlaw-2807 324 25 ; ; PUNCT taxlaw-2807 324 26 and and CCONJ taxlaw-2807 324 27 , , PUNCT taxlaw-2807 324 28 most most ADV taxlaw-2807 324 29 importantly importantly ADV taxlaw-2807 324 30 , , PUNCT taxlaw-2807 324 31 vexing vex VERB taxlaw-2807 324 32 line line NOUN taxlaw-2807 324 33 - - PUNCT taxlaw-2807 324 34 drawing draw VERB taxlaw-2807 324 35 problems problem NOUN taxlaw-2807 324 36 between between ADP taxlaw-2807 324 37 assets asset NOUN taxlaw-2807 324 38 taxed tax VERB taxlaw-2807 324 39 only only ADV taxlaw-2807 324 40 upon upon SCONJ taxlaw-2807 324 41 realization realization NOUN taxlaw-2807 324 42 and and CCONJ taxlaw-2807 324 43 those those PRON taxlaw-2807 324 44 taxed tax VERB taxlaw-2807 324 45 only only ADV taxlaw-2807 324 46 upon upon SCONJ taxlaw-2807 324 47 appreciation appreciation NOUN taxlaw-2807 324 48 . . PUNCT taxlaw-2807 325 1 84 84 NUM taxlaw-2807 325 2 zelinsky zelinsky ADJ taxlaw-2807 325 3 , , PUNCT taxlaw-2807 325 4 supra supra ADJ taxlaw-2807 325 5 note note NOUN taxlaw-2807 325 6 8 8 NUM taxlaw-2807 325 7 , , PUNCT taxlaw-2807 325 8 at at ADP taxlaw-2807 325 9 863 863 NUM taxlaw-2807 325 10 . . PUNCT taxlaw-2807 326 1 see see VERB taxlaw-2807 326 2 also also ADV taxlaw-2807 326 3 infra infra NOUN taxlaw-2807 326 4 note note VERB taxlaw-2807 326 5 121 121 NUM taxlaw-2807 326 6 . . SYM taxlaw-2807 326 7 85 85 NUM taxlaw-2807 327 1 informed inform VERB taxlaw-2807 327 2 taxpayers taxpayer NOUN taxlaw-2807 327 3 would would AUX taxlaw-2807 327 4 seek seek VERB taxlaw-2807 327 5 to to PART taxlaw-2807 327 6 be be AUX taxlaw-2807 327 7 in in ADP taxlaw-2807 327 8 the the DET taxlaw-2807 327 9 realization realization NOUN taxlaw-2807 327 10 category category NOUN taxlaw-2807 327 11 when when SCONJ taxlaw-2807 327 12 they they PRON taxlaw-2807 327 13 had have VERB taxlaw-2807 327 14 assets asset NOUN taxlaw-2807 327 15 with with ADP taxlaw-2807 327 16 unrealized unrealized ADJ taxlaw-2807 327 17 profits profit NOUN taxlaw-2807 327 18 ( ( PUNCT taxlaw-2807 327 19 so so SCONJ taxlaw-2807 327 20 that that SCONJ taxlaw-2807 327 21 they they PRON taxlaw-2807 327 22 could could AUX taxlaw-2807 327 23 defer defer VERB taxlaw-2807 327 24 the the DET taxlaw-2807 327 25 tax tax NOUN taxlaw-2807 327 26 payment payment NOUN taxlaw-2807 327 27 ) ) PUNCT taxlaw-2807 327 28 and and CCONJ taxlaw-2807 327 29 in in ADP taxlaw-2807 327 30 the the DET taxlaw-2807 327 31 mark mark NOUN taxlaw-2807 327 32 - - PUNCT taxlaw-2807 327 33 to to ADP taxlaw-2807 327 34 - - PUNCT taxlaw-2807 327 35 market market NOUN taxlaw-2807 327 36 category category NOUN taxlaw-2807 327 37 when when SCONJ taxlaw-2807 327 38 they they PRON taxlaw-2807 327 39 had have VERB taxlaw-2807 327 40 depreciated depreciate VERB taxlaw-2807 327 41 assets asset NOUN taxlaw-2807 327 42 ( ( PUNCT taxlaw-2807 327 43 so so SCONJ taxlaw-2807 327 44 that that SCONJ taxlaw-2807 327 45 they they PRON taxlaw-2807 327 46 would would AUX taxlaw-2807 327 47 be be AUX taxlaw-2807 327 48 able able ADJ taxlaw-2807 327 49 to to PART taxlaw-2807 327 50 deduct deduct VERB taxlaw-2807 327 51 their their PRON taxlaw-2807 327 52 losses loss NOUN taxlaw-2807 327 53 without without ADP taxlaw-2807 327 54 waiting wait VERB taxlaw-2807 327 55 for for ADP taxlaw-2807 327 56 realization realization NOUN taxlaw-2807 327 57 ) ) PUNCT taxlaw-2807 327 58 . . PUNCT taxlaw-2807 328 1 the the DET taxlaw-2807 328 2 difference difference NOUN taxlaw-2807 328 3 between between ADP taxlaw-2807 328 4 realization realization NOUN taxlaw-2807 328 5 assets asset NOUN taxlaw-2807 328 6 and and CCONJ taxlaw-2807 328 7 mark mark NOUN taxlaw-2807 328 8 - - PUNCT taxlaw-2807 328 9 to to ADP taxlaw-2807 328 10 - - PUNCT taxlaw-2807 328 11 market market NOUN taxlaw-2807 328 12 assets asset NOUN taxlaw-2807 328 13 would would AUX taxlaw-2807 328 14 result result VERB taxlaw-2807 328 15 in in ADP taxlaw-2807 328 16 significant significant ADJ taxlaw-2807 328 17 inefficiencies inefficiency NOUN taxlaw-2807 328 18 because because SCONJ taxlaw-2807 328 19 it it PRON taxlaw-2807 328 20 would would AUX taxlaw-2807 328 21 create create VERB taxlaw-2807 328 22 huge huge ADJ taxlaw-2807 328 23 pre pre ADJ taxlaw-2807 328 24 - - ADJ taxlaw-2807 328 25 investment investment ADJ taxlaw-2807 328 26 distortions distortion NOUN taxlaw-2807 328 27 in in ADP taxlaw-2807 328 28 the the DET taxlaw-2807 328 29 allocation allocation NOUN taxlaw-2807 328 30 of of ADP taxlaw-2807 328 31 resources resource NOUN taxlaw-2807 328 32 . . PUNCT taxlaw-2807 329 1 zelinsky zelinsky ADJ taxlaw-2807 329 2 , , PUNCT taxlaw-2807 329 3 supra supra ADJ taxlaw-2807 329 4 note note NOUN taxlaw-2807 329 5 8 8 NUM taxlaw-2807 329 6 , , PUNCT taxlaw-2807 329 7 at at ADP taxlaw-2807 329 8 915 915 NUM taxlaw-2807 329 9 . . PUNCT taxlaw-2807 330 1 86 86 NUM taxlaw-2807 330 2 zelinsky zelinsky ADJ taxlaw-2807 330 3 , , PUNCT taxlaw-2807 330 4 supra supra ADJ taxlaw-2807 330 5 note note NOUN taxlaw-2807 330 6 8 8 NUM taxlaw-2807 330 7 , , PUNCT taxlaw-2807 330 8 at at ADP taxlaw-2807 330 9 904–05 904–05 NUM taxlaw-2807 330 10 . . PUNCT taxlaw-2807 331 1 87 87 NUM taxlaw-2807 331 2 chorvat chorvat NOUN taxlaw-2807 331 3 , , PUNCT taxlaw-2807 331 4 supra supra PROPN taxlaw-2807 331 5 note note PROPN taxlaw-2807 331 6 22 22 NUM taxlaw-2807 331 7 , , PUNCT taxlaw-2807 331 8 at at ADP taxlaw-2807 331 9 893 893 NUM taxlaw-2807 331 10 . . PUNCT taxlaw-2807 331 11 88 88 NUM taxlaw-2807 332 1 i i PRON taxlaw-2807 332 2 d. d. NOUN taxlaw-2807 332 3 at at ADP taxlaw-2807 332 4 77 77 NUM taxlaw-2807 332 5 . . PUNCT taxlaw-2807 332 6 89 89 NUM taxlaw-2807 333 1 i i PRON taxlaw-2807 333 2 d. d. PROPN taxlaw-2807 333 3 at at ADP taxlaw-2807 333 4 77 77 NUM taxlaw-2807 333 5 ; ; PUNCT taxlaw-2807 333 6 schenk schenk PROPN taxlaw-2807 333 7 , , PUNCT taxlaw-2807 333 8 supra supra PROPN taxlaw-2807 333 9 note note PROPN taxlaw-2807 333 10 12 12 NUM taxlaw-2807 333 11 , , PUNCT taxlaw-2807 333 12 at at ADP taxlaw-2807 333 13 355–56 355–56 NUM taxlaw-2807 333 14 . . PUNCT taxlaw-2807 334 1 90 90 NUM taxlaw-2807 334 2 zelinsky zelinsky ADJ taxlaw-2807 334 3 , , PUNCT taxlaw-2807 334 4 supra supra ADJ taxlaw-2807 334 5 note note NOUN taxlaw-2807 334 6 8 8 NUM taxlaw-2807 334 7 , , PUNCT taxlaw-2807 334 8 at at ADP taxlaw-2807 334 9 903 903 NUM taxlaw-2807 334 10 . . PUNCT taxlaw-2807 335 1 91 91 NUM taxlaw-2807 335 2 for for ADP taxlaw-2807 335 3 example example NOUN taxlaw-2807 335 4 , , PUNCT taxlaw-2807 335 5 it it PRON taxlaw-2807 335 6 is be AUX taxlaw-2807 335 7 not not PART taxlaw-2807 335 8 clear clear ADJ taxlaw-2807 335 9 to to ADP taxlaw-2807 335 10 us we PRON taxlaw-2807 335 11 that that SCONJ taxlaw-2807 335 12 public public ADJ taxlaw-2807 335 13 perception perception NOUN taxlaw-2807 335 14 would would AUX taxlaw-2807 335 15 favor favor VERB taxlaw-2807 335 16 a a DET taxlaw-2807 335 17 situation situation NOUN taxlaw-2807 335 18 in in ADP taxlaw-2807 335 19 which which PRON taxlaw-2807 335 20 affluent affluent ADJ taxlaw-2807 335 21 individuals individual NOUN taxlaw-2807 335 22 reduced reduce VERB taxlaw-2807 335 23 their their PRON taxlaw-2807 335 24 tax tax NOUN taxlaw-2807 335 25 liabilities liability NOUN taxlaw-2807 335 26 by by ADP taxlaw-2807 335 27 realizing realize VERB taxlaw-2807 335 28 losses loss NOUN taxlaw-2807 335 29 while while SCONJ taxlaw-2807 335 30 borrowing borrow VERB taxlaw-2807 335 31 against against ADP taxlaw-2807 335 32 their their PRON taxlaw-2807 335 33 appreciated appreciated ADJ taxlaw-2807 335 34 assets asset NOUN taxlaw-2807 335 35 . . PUNCT taxlaw-2807 336 1 2011 2011 NUM taxlaw-2807 336 2 ] ] PUNCT taxlaw-2807 336 3 realization realization NOUN taxlaw-2807 336 4 and and CCONJ taxlaw-2807 336 5 progressivity progressivity NOUN taxlaw-2807 336 6 59 59 NUM taxlaw-2807 336 7 the the DET taxlaw-2807 336 8 observation observation NOUN taxlaw-2807 336 9 that that SCONJ taxlaw-2807 336 10 the the DET taxlaw-2807 336 11 realization realization NOUN taxlaw-2807 336 12 requirement requirement NOUN taxlaw-2807 336 13 corresponds correspond VERB taxlaw-2807 336 14 with with ADP taxlaw-2807 336 15 public public ADJ taxlaw-2807 336 16 preferences preference NOUN taxlaw-2807 336 17 underlies underlie VERB taxlaw-2807 336 18 the the DET taxlaw-2807 336 19 only only ADJ taxlaw-2807 336 20 recent recent ADJ taxlaw-2807 336 21 piece piece NOUN taxlaw-2807 336 22 suggesting suggest VERB taxlaw-2807 336 23 a a DET taxlaw-2807 336 24 policy policy NOUN taxlaw-2807 336 25 justification justification NOUN taxlaw-2807 336 26 for for ADP taxlaw-2807 336 27 the the DET taxlaw-2807 336 28 requirement requirement NOUN taxlaw-2807 336 29 . . PUNCT taxlaw-2807 337 1 in in ADP taxlaw-2807 337 2 an an DET taxlaw-2807 337 3 insightful insightful ADJ taxlaw-2807 337 4 article article NOUN taxlaw-2807 337 5 , , PUNCT taxlaw-2807 337 6 david david PROPN taxlaw-2807 337 7 schizer schizer PROPN taxlaw-2807 337 8 argues argue VERB taxlaw-2807 337 9 that that SCONJ taxlaw-2807 337 10 the the DET taxlaw-2807 337 11 realization realization NOUN taxlaw-2807 337 12 requirement requirement NOUN taxlaw-2807 337 13 should should AUX taxlaw-2807 337 14 be be AUX taxlaw-2807 337 15 understood understand VERB taxlaw-2807 337 16 as as ADP taxlaw-2807 337 17 a a DET taxlaw-2807 337 18 politically politically ADV taxlaw-2807 337 19 credible credible ADJ taxlaw-2807 337 20 investment investment NOUN taxlaw-2807 337 21 subsidy.92 subsidy.92 NOUN taxlaw-2807 337 22 he he PRON taxlaw-2807 337 23 suggests suggest VERB taxlaw-2807 337 24 that that SCONJ taxlaw-2807 337 25 , , PUNCT taxlaw-2807 337 26 by by ADP taxlaw-2807 337 27 allowing allow VERB taxlaw-2807 337 28 deferral deferral ADJ taxlaw-2807 337 29 and and CCONJ taxlaw-2807 337 30 strategic strategic ADJ taxlaw-2807 337 31 trading trading NOUN taxlaw-2807 337 32 , , PUNCT taxlaw-2807 337 33 the the DET taxlaw-2807 337 34 realization realization NOUN taxlaw-2807 337 35 requirement requirement NOUN taxlaw-2807 337 36 reduces reduce VERB taxlaw-2807 337 37 the the DET taxlaw-2807 337 38 effective effective ADJ taxlaw-2807 337 39 tax tax NOUN taxlaw-2807 337 40 on on ADP taxlaw-2807 337 41 investments.93 investments.93 NOUN taxlaw-2807 337 42 it it PRON taxlaw-2807 337 43 therefore therefore ADV taxlaw-2807 337 44 should should AUX taxlaw-2807 337 45 be be AUX taxlaw-2807 337 46 viewed view VERB taxlaw-2807 337 47 as as ADP taxlaw-2807 337 48 one one NUM taxlaw-2807 337 49 of of ADP taxlaw-2807 337 50 many many ADJ taxlaw-2807 337 51 tax tax NOUN taxlaw-2807 337 52 incentives incentive NOUN taxlaw-2807 337 53 that that PRON taxlaw-2807 337 54 congress congress PROPN taxlaw-2807 337 55 uses use VERB taxlaw-2807 337 56 to to PART taxlaw-2807 337 57 promote promote VERB taxlaw-2807 337 58 investment investment NOUN taxlaw-2807 337 59 . . PUNCT taxlaw-2807 338 1 realization realization NOUN taxlaw-2807 338 2 is be AUX taxlaw-2807 338 3 unique unique ADJ taxlaw-2807 338 4 among among ADP taxlaw-2807 338 5 these these DET taxlaw-2807 338 6 incentives incentive NOUN taxlaw-2807 338 7 because because SCONJ taxlaw-2807 338 8 of of ADP taxlaw-2807 338 9 its its PRON taxlaw-2807 338 10 political political ADJ taxlaw-2807 338 11 credibility credibility NOUN taxlaw-2807 338 12 . . PUNCT taxlaw-2807 339 1 unlike unlike ADP taxlaw-2807 339 2 other other ADJ taxlaw-2807 339 3 subsidies subsidy NOUN taxlaw-2807 339 4 for for ADP taxlaw-2807 339 5 investment investment NOUN taxlaw-2807 339 6 , , PUNCT taxlaw-2807 339 7 the the DET taxlaw-2807 339 8 realization realization NOUN taxlaw-2807 339 9 requirement requirement NOUN taxlaw-2807 339 10 has have VERB taxlaw-2807 339 11 a a DET taxlaw-2807 339 12 relatively relatively ADV taxlaw-2807 339 13 stable stable ADJ taxlaw-2807 339 14 history,94 history,94 NOUN taxlaw-2807 339 15 has have VERB taxlaw-2807 339 16 no no DET taxlaw-2807 339 17 significant significant ADJ taxlaw-2807 339 18 political political ADJ taxlaw-2807 339 19 opposition,95 opposition,95 NOUN taxlaw-2807 339 20 and and CCONJ taxlaw-2807 339 21 complements complement VERB taxlaw-2807 339 22 administrative administrative ADJ taxlaw-2807 339 23 needs need NOUN taxlaw-2807 339 24 of of ADP taxlaw-2807 339 25 tax tax NOUN taxlaw-2807 339 26 authorities.96 authorities.96 PROPN taxlaw-2807 339 27 hence hence ADV taxlaw-2807 339 28 , , PUNCT taxlaw-2807 339 29 schizer schizer NOUN taxlaw-2807 339 30 contends contend VERB taxlaw-2807 339 31 that that SCONJ taxlaw-2807 339 32 investors investor NOUN taxlaw-2807 339 33 perceive perceive VERB taxlaw-2807 339 34 this this DET taxlaw-2807 339 35 subsidy subsidy NOUN taxlaw-2807 339 36 as as ADP taxlaw-2807 339 37 credible credible ADJ taxlaw-2807 339 38 and and CCONJ taxlaw-2807 339 39 stable stable ADJ taxlaw-2807 339 40 , , PUNCT taxlaw-2807 339 41 and and CCONJ taxlaw-2807 339 42 unlike unlike ADP taxlaw-2807 339 43 other other ADJ taxlaw-2807 339 44 subsidies subsidy NOUN taxlaw-2807 339 45 , , PUNCT taxlaw-2807 339 46 it it PRON taxlaw-2807 339 47 is be AUX taxlaw-2807 339 48 unlikely unlikely ADJ taxlaw-2807 339 49 to to PART taxlaw-2807 339 50 be be AUX taxlaw-2807 339 51 changed change VERB taxlaw-2807 339 52 by by ADP taxlaw-2807 339 53 future future ADJ taxlaw-2807 339 54 legislation legislation NOUN taxlaw-2807 339 55 . . PUNCT taxlaw-2807 340 1 since since SCONJ taxlaw-2807 340 2 investors investor NOUN taxlaw-2807 340 3 see see VERB taxlaw-2807 340 4 little little ADJ taxlaw-2807 340 5 likelihood likelihood NOUN taxlaw-2807 340 6 of of ADP taxlaw-2807 340 7 realization realization NOUN taxlaw-2807 340 8 ’s ’s PART taxlaw-2807 340 9 repeal repeal NOUN taxlaw-2807 340 10 , , PUNCT taxlaw-2807 340 11 they they PRON taxlaw-2807 340 12 are be AUX taxlaw-2807 340 13 not not PART taxlaw-2807 340 14 expected expect VERB taxlaw-2807 340 15 to to PART taxlaw-2807 340 16 discount discount VERB taxlaw-2807 340 17 the the DET taxlaw-2807 340 18 value value NOUN taxlaw-2807 340 19 of of ADP taxlaw-2807 340 20 its its PRON taxlaw-2807 340 21 tax tax NOUN taxlaw-2807 340 22 benefits benefit NOUN taxlaw-2807 340 23 . . PUNCT taxlaw-2807 341 1 despite despite SCONJ taxlaw-2807 341 2 the the DET taxlaw-2807 341 3 imperfections imperfection NOUN taxlaw-2807 341 4 of of ADP taxlaw-2807 341 5 the the DET taxlaw-2807 341 6 realization realization NOUN taxlaw-2807 341 7 subsidy,97 subsidy,97 NOUN taxlaw-2807 341 8 the the DET taxlaw-2807 341 9 lack lack NOUN taxlaw-2807 341 10 of of ADP taxlaw-2807 341 11 discounting discount VERB taxlaw-2807 341 12 by by ADP taxlaw-2807 341 13 taxpayers taxpayer NOUN taxlaw-2807 341 14 makes make VERB taxlaw-2807 341 15 the the DET taxlaw-2807 341 16 subsidy subsidy NOUN taxlaw-2807 341 17 more more ADV taxlaw-2807 341 18 efficient efficient ADJ taxlaw-2807 341 19 ( ( PUNCT taxlaw-2807 341 20 from from ADP taxlaw-2807 341 21 the the DET taxlaw-2807 341 22 government government NOUN taxlaw-2807 341 23 ’s ’s PART taxlaw-2807 341 24 perspective perspective NOUN taxlaw-2807 341 25 ) ) PUNCT taxlaw-2807 341 26 in in ADP taxlaw-2807 341 27 achieving achieve VERB taxlaw-2807 341 28 the the DET taxlaw-2807 341 29 goal goal NOUN taxlaw-2807 341 30 of of ADP taxlaw-2807 341 31 changing change VERB taxlaw-2807 341 32 taxpayers taxpayer NOUN taxlaw-2807 341 33 ’ ’ PART taxlaw-2807 341 34 investment investment NOUN taxlaw-2807 341 35 behavior.98 behavior.98 NOUN taxlaw-2807 341 36 schizer schizer NOUN taxlaw-2807 341 37 offers offer VERB taxlaw-2807 341 38 a a DET taxlaw-2807 341 39 compelling compelling ADJ taxlaw-2807 341 40 argument argument NOUN taxlaw-2807 341 41 that that SCONJ taxlaw-2807 341 42 realization realization NOUN taxlaw-2807 341 43 is be AUX taxlaw-2807 341 44 a a DET taxlaw-2807 341 45 subsidy subsidy NOUN taxlaw-2807 341 46 for for ADP taxlaw-2807 341 47 investment investment NOUN taxlaw-2807 341 48 . . PUNCT taxlaw-2807 342 1 we we PRON taxlaw-2807 342 2 are be AUX taxlaw-2807 342 3 , , PUNCT taxlaw-2807 342 4 however however ADV taxlaw-2807 342 5 , , PUNCT taxlaw-2807 342 6 skeptical skeptical ADJ taxlaw-2807 342 7 , , PUNCT taxlaw-2807 342 8 as as ADP taxlaw-2807 342 9 to to ADP taxlaw-2807 342 10 whether whether SCONJ taxlaw-2807 342 11 the the DET taxlaw-2807 342 12 case case NOUN taxlaw-2807 342 13 can can AUX taxlaw-2807 342 14 be be AUX taxlaw-2807 342 15 made make VERB taxlaw-2807 342 16 that that PRON taxlaw-2807 342 17 realization realization NOUN taxlaw-2807 342 18 is be AUX taxlaw-2807 342 19 a a DET taxlaw-2807 342 20 good good ADJ taxlaw-2807 342 21 or or CCONJ taxlaw-2807 342 22 unique unique ADJ taxlaw-2807 342 23 subsidy subsidy NOUN taxlaw-2807 342 24 for for ADP taxlaw-2807 342 25 investment investment NOUN taxlaw-2807 342 26 . . PUNCT taxlaw-2807 343 1 schizer schizer NOUN taxlaw-2807 343 2 illustrates illustrate VERB taxlaw-2807 343 3 his his PRON taxlaw-2807 343 4 claim claim NOUN taxlaw-2807 343 5 that that SCONJ taxlaw-2807 343 6 the the DET taxlaw-2807 343 7 realization realization NOUN taxlaw-2807 343 8 requirement requirement NOUN taxlaw-2807 343 9 is be AUX taxlaw-2807 343 10 a a DET taxlaw-2807 343 11 credible credible ADJ taxlaw-2807 343 12 and and CCONJ taxlaw-2807 343 13 legitimate legitimate ADJ taxlaw-2807 343 14 subsidy subsidy NOUN taxlaw-2807 343 15 by by ADP taxlaw-2807 343 16 comparing compare VERB taxlaw-2807 343 17 it it PRON taxlaw-2807 343 18 to to ADP taxlaw-2807 343 19 the the DET taxlaw-2807 343 20 fluctuating fluctuate VERB taxlaw-2807 343 21 policy policy NOUN taxlaw-2807 343 22 of of ADP taxlaw-2807 343 23 lower low ADJ taxlaw-2807 343 24 tax tax NOUN taxlaw-2807 343 25 rates rate NOUN taxlaw-2807 343 26 on on ADP taxlaw-2807 343 27 capital capital NOUN taxlaw-2807 343 28 gains gain NOUN taxlaw-2807 343 29 . . PUNCT taxlaw-2807 344 1 however however ADV taxlaw-2807 344 2 , , PUNCT taxlaw-2807 344 3 this this DET taxlaw-2807 344 4 comparison comparison NOUN taxlaw-2807 344 5 is be AUX taxlaw-2807 344 6 only only ADV taxlaw-2807 344 7 one one NUM taxlaw-2807 344 8 of of ADP taxlaw-2807 344 9 the the DET taxlaw-2807 344 10 many many ADJ taxlaw-2807 344 11 possible possible ADJ taxlaw-2807 344 12 . . PUNCT taxlaw-2807 345 1 first first ADV taxlaw-2807 345 2 , , PUNCT taxlaw-2807 345 3 it it PRON taxlaw-2807 345 4 is be AUX taxlaw-2807 345 5 important important ADJ taxlaw-2807 345 6 to to PART taxlaw-2807 345 7 note note VERB taxlaw-2807 345 8 that that SCONJ taxlaw-2807 345 9 the the DET taxlaw-2807 345 10 favorable favorable ADJ taxlaw-2807 345 11 capital capital NOUN taxlaw-2807 345 12 gains gain NOUN taxlaw-2807 345 13 rate rate NOUN taxlaw-2807 345 14 applies apply VERB taxlaw-2807 345 15 only only ADV taxlaw-2807 345 16 to to ADP taxlaw-2807 345 17 individuals individual NOUN taxlaw-2807 345 18 ( ( PUNCT taxlaw-2807 345 19 and and CCONJ taxlaw-2807 345 20 not not PART taxlaw-2807 345 21 to to ADP taxlaw-2807 345 22 corporations corporation NOUN taxlaw-2807 345 23 ) ) PUNCT taxlaw-2807 345 24 , , PUNCT taxlaw-2807 345 25 while while SCONJ taxlaw-2807 345 26 the the DET taxlaw-2807 345 27 realization realization NOUN taxlaw-2807 345 28 requirement requirement NOUN taxlaw-2807 345 29 applies apply VERB taxlaw-2807 345 30 to to ADP taxlaw-2807 345 31 all all DET taxlaw-2807 345 32 taxpayers.99 taxpayers.99 NOUN taxlaw-2807 345 33 there there ADV taxlaw-2807 345 34 seem seem VERB taxlaw-2807 345 35 to to PART taxlaw-2807 345 36 be be AUX taxlaw-2807 345 37 other other ADJ taxlaw-2807 345 38 equally equally ADV taxlaw-2807 345 39 credible credible ADJ taxlaw-2807 345 40 ways way NOUN taxlaw-2807 345 41 of of ADP taxlaw-2807 345 42 directing direct VERB taxlaw-2807 345 43 a a DET taxlaw-2807 345 44 subsidy subsidy NOUN taxlaw-2807 345 45 toward toward ADP taxlaw-2807 345 46 individuals individual NOUN taxlaw-2807 345 47 — — PUNCT taxlaw-2807 345 48 e.g. e.g. ADV taxlaw-2807 345 49 , , PUNCT taxlaw-2807 345 50 encouraging encourage VERB taxlaw-2807 345 51 pension pension NOUN taxlaw-2807 345 52 - - PUNCT taxlaw-2807 345 53 saving save VERB taxlaw-2807 345 54 vehicles vehicle NOUN taxlaw-2807 345 55 , , PUNCT taxlaw-2807 345 56 100 100 NUM taxlaw-2807 345 57 encouraging encourage VERB taxlaw-2807 345 58 home home NOUN taxlaw-2807 345 59 equity equity NOUN taxlaw-2807 345 60 savings saving NOUN taxlaw-2807 345 61 through through ADP taxlaw-2807 345 62 the the DET taxlaw-2807 345 63 home home NOUN taxlaw-2807 345 64 interest interest NOUN taxlaw-2807 345 65 deduction deduction NOUN taxlaw-2807 345 66 , , PUNCT taxlaw-2807 345 67 and and CCONJ taxlaw-2807 345 68 providing provide VERB taxlaw-2807 345 69 certain certain ADJ taxlaw-2807 345 70 exemptions exemption NOUN taxlaw-2807 345 71 for for ADP taxlaw-2807 345 72 gains gain NOUN taxlaw-2807 345 73 on on ADP taxlaw-2807 345 74 the the DET taxlaw-2807 345 75 sale sale NOUN taxlaw-2807 345 76 of of ADP taxlaw-2807 345 77 residential residential ADJ taxlaw-2807 345 78 homes home NOUN taxlaw-2807 345 79 and and CCONJ taxlaw-2807 345 80 closely closely ADV taxlaw-2807 345 81 held hold VERB taxlaw-2807 345 82 small small ADJ taxlaw-2807 345 83 businesses.101 businesses.101 PROPN taxlaw-2807 345 84 history history NOUN taxlaw-2807 345 85 informs inform VERB taxlaw-2807 345 86 us we PRON taxlaw-2807 345 87 that that SCONJ taxlaw-2807 345 88 these these DET taxlaw-2807 345 89 targeted target VERB taxlaw-2807 345 90 saving saving NOUN taxlaw-2807 345 91 incentives incentive NOUN taxlaw-2807 345 92 are be AUX taxlaw-2807 345 93 credible credible ADJ taxlaw-2807 345 94 and and CCONJ taxlaw-2807 345 95 stable102 stable102 ADP taxlaw-2807 345 96 and and CCONJ taxlaw-2807 345 97 unlike unlike ADP taxlaw-2807 345 98 a a DET taxlaw-2807 345 99 broad broad ADJ taxlaw-2807 345 100 realization realization NOUN taxlaw-2807 345 101 requirement requirement NOUN taxlaw-2807 345 102 , , PUNCT taxlaw-2807 345 103 they they PRON taxlaw-2807 345 104 carry carry VERB taxlaw-2807 345 105 more more ADJ taxlaw-2807 345 106 concrete concrete ADJ taxlaw-2807 345 107 and and CCONJ taxlaw-2807 345 108 narrowly narrowly ADV taxlaw-2807 345 109 tailored tailor VERB taxlaw-2807 345 110 social social ADJ taxlaw-2807 345 111 benefits benefit NOUN taxlaw-2807 345 112 . . PUNCT taxlaw-2807 346 1 furthermore furthermore ADV taxlaw-2807 346 2 , , PUNCT taxlaw-2807 346 3 their their PRON taxlaw-2807 346 4 costs cost NOUN taxlaw-2807 346 5 in in ADP taxlaw-2807 346 6 terms term NOUN taxlaw-2807 346 7 of of ADP taxlaw-2807 346 8 regressivity regressivity NOUN taxlaw-2807 346 9 and and CCONJ taxlaw-2807 346 10 dead dead ADJ taxlaw-2807 346 11 - - PUNCT taxlaw-2807 346 12 weight weight NOUN taxlaw-2807 346 13 loss loss NOUN taxlaw-2807 346 14 may may AUX taxlaw-2807 346 15 be be AUX taxlaw-2807 346 16 easier easy ADJ taxlaw-2807 346 17 to to PART taxlaw-2807 346 18 control control VERB taxlaw-2807 346 19 than than ADP taxlaw-2807 346 20 those those PRON taxlaw-2807 346 21 of of ADP taxlaw-2807 346 22 the the DET taxlaw-2807 346 23 realization realization NOUN taxlaw-2807 346 24 requirement requirement NOUN taxlaw-2807 346 25 . . PUNCT taxlaw-2807 347 1 92 92 NUM taxlaw-2807 347 2 schizer schizer NOUN taxlaw-2807 347 3 , , PUNCT taxlaw-2807 347 4 supra supra PROPN taxlaw-2807 347 5 note note NOUN taxlaw-2807 347 6 1 1 NUM taxlaw-2807 347 7 , , PUNCT taxlaw-2807 347 8 at at ADP taxlaw-2807 347 9 1554 1554 NUM taxlaw-2807 347 10 ( ( PUNCT taxlaw-2807 347 11 assuming assume VERB taxlaw-2807 347 12 the the DET taxlaw-2807 347 13 political political ADJ taxlaw-2807 347 14 will will NOUN taxlaw-2807 347 15 to to PART taxlaw-2807 347 16 use use VERB taxlaw-2807 347 17 the the DET taxlaw-2807 347 18 tax tax NOUN taxlaw-2807 347 19 system system NOUN taxlaw-2807 347 20 to to PART taxlaw-2807 347 21 tax tax VERB taxlaw-2807 347 22 subsidize subsidize NOUN taxlaw-2807 347 23 private private ADJ taxlaw-2807 347 24 investment investment NOUN taxlaw-2807 347 25 ) ) PUNCT taxlaw-2807 347 26 . . PUNCT taxlaw-2807 348 1 93 93 NUM taxlaw-2807 348 2 schizer schizer NOUN taxlaw-2807 348 3 , , PUNCT taxlaw-2807 348 4 supra supra PROPN taxlaw-2807 348 5 note note NOUN taxlaw-2807 348 6 1 1 NUM taxlaw-2807 348 7 , , PUNCT taxlaw-2807 348 8 at at ADP taxlaw-2807 348 9 1552 1552 NUM taxlaw-2807 348 10 . . PUNCT taxlaw-2807 348 11 94 94 NUM taxlaw-2807 349 1 i i PRON taxlaw-2807 349 2 d. d. PROPN taxlaw-2807 349 3 at at ADP taxlaw-2807 349 4 1580–82 1580–82 NUM taxlaw-2807 349 5 . . PUNCT taxlaw-2807 350 1 95 95 NUM taxlaw-2807 351 1 i i PRON taxlaw-2807 351 2 d. d. PROPN taxlaw-2807 351 3 at at ADP taxlaw-2807 351 4 1601–02 1601–02 NUM taxlaw-2807 351 5 , , PUNCT taxlaw-2807 351 6 1606–08 1606–08 NUM taxlaw-2807 351 7 . . PUNCT taxlaw-2807 352 1 96 96 NUM taxlaw-2807 353 1 i i PRON taxlaw-2807 353 2 d. d. PROPN taxlaw-2807 353 3 at at ADP taxlaw-2807 353 4 1592–95 1592–95 NOUN taxlaw-2807 353 5 . . PUNCT taxlaw-2807 354 1 97 97 NUM taxlaw-2807 354 2 schizer schizer NOUN taxlaw-2807 354 3 claims claim VERB taxlaw-2807 354 4 that that SCONJ taxlaw-2807 354 5 the the DET taxlaw-2807 354 6 criticism criticism NOUN taxlaw-2807 354 7 against against ADP taxlaw-2807 354 8 realization realization NOUN taxlaw-2807 354 9 could could AUX taxlaw-2807 354 10 be be AUX taxlaw-2807 354 11 applied apply VERB taxlaw-2807 354 12 against against ADP taxlaw-2807 354 13 any any DET taxlaw-2807 354 14 tax tax NOUN taxlaw-2807 354 15 subsidy subsidy NOUN taxlaw-2807 354 16 for for ADP taxlaw-2807 354 17 saving save VERB taxlaw-2807 354 18 . . PUNCT taxlaw-2807 355 1 i i PRON taxlaw-2807 355 2 d. d. PROPN taxlaw-2807 355 3 at at ADP taxlaw-2807 355 4 1574 1574 NUM taxlaw-2807 355 5 , , PUNCT taxlaw-2807 355 6 1617 1617 NUM taxlaw-2807 355 7 , , PUNCT taxlaw-2807 355 8 1624 1624 NUM taxlaw-2807 355 9 . . PUNCT taxlaw-2807 356 1 98 98 NUM taxlaw-2807 357 1 i i PRON taxlaw-2807 357 2 d. d. PROPN taxlaw-2807 357 3 at at ADP taxlaw-2807 357 4 1574 1574 NUM taxlaw-2807 357 5 . . PUNCT taxlaw-2807 358 1 if if SCONJ taxlaw-2807 358 2 the the DET taxlaw-2807 358 3 value value NOUN taxlaw-2807 358 4 of of ADP taxlaw-2807 358 5 the the DET taxlaw-2807 358 6 tax tax NOUN taxlaw-2807 358 7 benefit benefit NOUN taxlaw-2807 358 8 were be AUX taxlaw-2807 358 9 not not PART taxlaw-2807 358 10 discounted discount VERB taxlaw-2807 358 11 , , PUNCT taxlaw-2807 358 12 the the DET taxlaw-2807 358 13 government government NOUN taxlaw-2807 358 14 would would AUX taxlaw-2807 358 15 have have VERB taxlaw-2807 358 16 to to PART taxlaw-2807 358 17 provide provide VERB taxlaw-2807 358 18 less less ADJ taxlaw-2807 358 19 of of ADP taxlaw-2807 358 20 it it PRON taxlaw-2807 358 21 to to PART taxlaw-2807 358 22 encourage encourage VERB taxlaw-2807 358 23 the the DET taxlaw-2807 358 24 desired desire VERB taxlaw-2807 358 25 change change NOUN taxlaw-2807 358 26 in in ADP taxlaw-2807 358 27 investment investment NOUN taxlaw-2807 358 28 behavior behavior NOUN taxlaw-2807 358 29 . . PUNCT taxlaw-2807 359 1 99 99 NUM taxlaw-2807 359 2 sections section NOUN taxlaw-2807 359 3 1(a 1(a NUM taxlaw-2807 359 4 ) ) PUNCT taxlaw-2807 359 5 and and CCONJ taxlaw-2807 359 6 1(h 1(h NUM taxlaw-2807 359 7 ) ) PUNCT taxlaw-2807 359 8 of of ADP taxlaw-2807 359 9 the the DET taxlaw-2807 359 10 internal internal ADJ taxlaw-2807 359 11 revenue revenue NOUN taxlaw-2807 359 12 code code NOUN taxlaw-2807 359 13 prescribe prescribe VERB taxlaw-2807 359 14 different different ADJ taxlaw-2807 359 15 individual individual ADJ taxlaw-2807 359 16 tax tax NOUN taxlaw-2807 359 17 rates rate NOUN taxlaw-2807 359 18 on on ADP taxlaw-2807 359 19 income income NOUN taxlaw-2807 359 20 and and CCONJ taxlaw-2807 359 21 on on ADP taxlaw-2807 359 22 capital capital NOUN taxlaw-2807 359 23 gains gain NOUN taxlaw-2807 359 24 while while SCONJ taxlaw-2807 359 25 i.r.c i.r.c NOUN taxlaw-2807 359 26 . . PUNCT taxlaw-2807 360 1 § § PROPN taxlaw-2807 360 2 11 11 NUM taxlaw-2807 360 3 lays lay VERB taxlaw-2807 360 4 a a DET taxlaw-2807 360 5 uniform uniform ADJ taxlaw-2807 360 6 tax tax NOUN taxlaw-2807 360 7 rate rate NOUN taxlaw-2807 360 8 on on ADP taxlaw-2807 360 9 all all DET taxlaw-2807 360 10 corporate corporate ADJ taxlaw-2807 360 11 earnings earning NOUN taxlaw-2807 360 12 capital capital NOUN taxlaw-2807 360 13 . . PUNCT taxlaw-2807 361 1 100 100 NUM taxlaw-2807 361 2 charlotte charlotte PROPN taxlaw-2807 361 3 crane crane NOUN taxlaw-2807 361 4 , , PUNCT taxlaw-2807 361 5 honoring honor VERB taxlaw-2807 361 6 expectations expectation NOUN taxlaw-2807 361 7 about about ADP taxlaw-2807 361 8 taxes taxis NOUN taxlaw-2807 361 9 : : PUNCT taxlaw-2807 361 10 are be AUX taxlaw-2807 361 11 roth roth PROPN taxlaw-2807 361 12 iras ira NOUN taxlaw-2807 361 13 different different ADJ taxlaw-2807 361 14 ? ? PUNCT taxlaw-2807 361 15 , , PUNCT taxlaw-2807 361 16 social social ADJ taxlaw-2807 361 17 science science NOUN taxlaw-2807 361 18 research research NOUN taxlaw-2807 361 19 network network NOUN taxlaw-2807 361 20 , , PUNCT taxlaw-2807 361 21 at at ADP taxlaw-2807 361 22 2–4 2–4 PROPN taxlaw-2807 361 23 ( ( PUNCT taxlaw-2807 361 24 nov nov PROPN taxlaw-2807 361 25 . . PROPN taxlaw-2807 361 26 12 12 NUM taxlaw-2807 361 27 , , PUNCT taxlaw-2807 361 28 2009 2009 NUM taxlaw-2807 361 29 ) ) PUNCT taxlaw-2807 361 30 , , PUNCT taxlaw-2807 361 31 available available ADJ taxlaw-2807 361 32 at at ADP taxlaw-2807 361 33 http://ssrn.com/paper=1505120 http://ssrn.com/paper=1505120 PROPN taxlaw-2807 361 34 ( ( PUNCT taxlaw-2807 361 35 explaining explain VERB taxlaw-2807 361 36 why why SCONJ taxlaw-2807 361 37 the the DET taxlaw-2807 361 38 pension pension NOUN taxlaw-2807 361 39 benefits benefit NOUN taxlaw-2807 361 40 are be AUX taxlaw-2807 361 41 typically typically ADV taxlaw-2807 361 42 politically politically ADV taxlaw-2807 361 43 stable stable ADJ taxlaw-2807 361 44 ) ) PUNCT taxlaw-2807 361 45 . . PUNCT taxlaw-2807 362 1 101 101 NUM taxlaw-2807 362 2 i.r.c i.r.c NOUN taxlaw-2807 362 3 . . PUNCT taxlaw-2807 363 1 § § PROPN taxlaw-2807 363 2 § § PROPN taxlaw-2807 363 3 121 121 NUM taxlaw-2807 363 4 , , PUNCT taxlaw-2807 363 5 163(h 163(h NUM taxlaw-2807 363 6 ) ) PUNCT taxlaw-2807 363 7 ( ( PUNCT taxlaw-2807 363 8 west west NOUN taxlaw-2807 363 9 supp supp PROPN taxlaw-2807 363 10 . . PUNCT taxlaw-2807 364 1 2010 2010 NUM taxlaw-2807 364 2 ) ) PUNCT taxlaw-2807 364 3 . . PUNCT taxlaw-2807 365 1 102 102 NUM taxlaw-2807 365 2 lawrence lawrence NOUN taxlaw-2807 365 3 zelenak zelenak PROPN taxlaw-2807 365 4 , , PUNCT taxlaw-2807 365 5 the the DET taxlaw-2807 365 6 federal federal ADJ taxlaw-2807 365 7 retail retail ADJ taxlaw-2807 365 8 sales sale NOUN taxlaw-2807 365 9 tax tax NOUN taxlaw-2807 365 10 that that PRON taxlaw-2807 365 11 was be AUX taxlaw-2807 365 12 n't not PART taxlaw-2807 365 13 : : PUNCT taxlaw-2807 365 14 an an DET taxlaw-2807 365 15 actual actual ADJ taxlaw-2807 365 16 history history NOUN taxlaw-2807 365 17 and and CCONJ taxlaw-2807 365 18 an an DET taxlaw-2807 365 19 alternate alternate ADJ taxlaw-2807 365 20 history history NOUN taxlaw-2807 365 21 , , PUNCT taxlaw-2807 365 22 social social ADJ taxlaw-2807 365 23 science science NOUN taxlaw-2807 365 24 research research NOUN taxlaw-2807 365 25 network network NOUN taxlaw-2807 365 26 82 82 NUM taxlaw-2807 365 27 , , PUNCT taxlaw-2807 365 28 88 88 NUM taxlaw-2807 365 29 ( ( PUNCT taxlaw-2807 365 30 oct oct PROPN taxlaw-2807 365 31 . . PROPN taxlaw-2807 365 32 12 12 NUM taxlaw-2807 365 33 , , PUNCT taxlaw-2807 365 34 2009 2009 NUM taxlaw-2807 365 35 ) ) PUNCT taxlaw-2807 365 36 , , PUNCT taxlaw-2807 365 37 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1487631 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1487631 PROPN taxlaw-2807 365 38 ( ( PUNCT taxlaw-2807 365 39 observing observe VERB taxlaw-2807 365 40 that that SCONJ taxlaw-2807 365 41 both both CCONJ taxlaw-2807 365 42 the the DET taxlaw-2807 365 43 home home NOUN taxlaw-2807 365 44 mortgage mortgage NOUN taxlaw-2807 365 45 and and CCONJ taxlaw-2807 365 46 the the DET taxlaw-2807 365 47 pension pension NOUN taxlaw-2807 365 48 saving saving NOUN taxlaw-2807 365 49 tax tax NOUN taxlaw-2807 365 50 benefits benefit NOUN taxlaw-2807 365 51 have have AUX taxlaw-2807 365 52 always always ADV taxlaw-2807 365 53 been be AUX taxlaw-2807 365 54 part part NOUN taxlaw-2807 365 55 of of ADP taxlaw-2807 365 56 the the DET taxlaw-2807 365 57 income income NOUN taxlaw-2807 365 58 tax tax NOUN taxlaw-2807 365 59 regime regime NOUN taxlaw-2807 365 60 in in ADP taxlaw-2807 365 61 the the DET taxlaw-2807 365 62 united united PROPN taxlaw-2807 365 63 states states PROPN taxlaw-2807 365 64 ) ) PUNCT taxlaw-2807 365 65 . . PUNCT taxlaw-2807 366 1 60 60 NUM taxlaw-2807 366 2 columbia columbia PROPN taxlaw-2807 366 3 journal journal PROPN taxlaw-2807 366 4 of of ADP taxlaw-2807 366 5 tax tax NOUN taxlaw-2807 366 6 law law NOUN taxlaw-2807 367 1 [ [ X taxlaw-2807 367 2 vol.3:43 vol.3:43 PROPN taxlaw-2807 367 3 second second ADJ taxlaw-2807 367 4 , , PUNCT taxlaw-2807 367 5 and and CCONJ taxlaw-2807 367 6 more more ADV taxlaw-2807 367 7 notably notably ADV taxlaw-2807 367 8 , , PUNCT taxlaw-2807 367 9 schizer schizer NOUN taxlaw-2807 367 10 also also ADV taxlaw-2807 367 11 overlooks overlook VERB taxlaw-2807 367 12 the the DET taxlaw-2807 367 13 possibility possibility NOUN taxlaw-2807 367 14 that that SCONJ taxlaw-2807 367 15 a a DET taxlaw-2807 367 16 partial partial ADJ taxlaw-2807 367 17 mark mark NOUN taxlaw-2807 367 18 - - PUNCT taxlaw-2807 367 19 to to ADP taxlaw-2807 367 20 - - PUNCT taxlaw-2807 367 21 market market NOUN taxlaw-2807 367 22 regime regime NOUN taxlaw-2807 367 23 could could AUX taxlaw-2807 367 24 offer offer VERB taxlaw-2807 367 25 a a DET taxlaw-2807 367 26 more more ADV taxlaw-2807 367 27 credible credible ADJ taxlaw-2807 367 28 incentive incentive NOUN taxlaw-2807 367 29 for for ADP taxlaw-2807 367 30 investment investment NOUN taxlaw-2807 367 31 and and CCONJ taxlaw-2807 367 32 risktaking risktaking NOUN taxlaw-2807 367 33 because because SCONJ taxlaw-2807 367 34 of of ADP taxlaw-2807 367 35 the the DET taxlaw-2807 367 36 way way NOUN taxlaw-2807 367 37 such such ADJ taxlaw-2807 367 38 a a DET taxlaw-2807 367 39 tax tax NOUN taxlaw-2807 367 40 system system NOUN taxlaw-2807 367 41 would would AUX taxlaw-2807 367 42 treat treat VERB taxlaw-2807 367 43 losses.103 losses.103 ADV taxlaw-2807 367 44 as as SCONJ taxlaw-2807 367 45 mentioned,104 mentioned,104 PRON taxlaw-2807 367 46 the the DET taxlaw-2807 367 47 various various ADJ taxlaw-2807 367 48 loss loss NOUN taxlaw-2807 367 49 - - PUNCT taxlaw-2807 367 50 limitation limitation NOUN taxlaw-2807 367 51 rules rule NOUN taxlaw-2807 367 52 create create VERB taxlaw-2807 367 53 significant significant ADJ taxlaw-2807 367 54 disincentives disincentive NOUN taxlaw-2807 367 55 for for ADP taxlaw-2807 367 56 risk risk NOUN taxlaw-2807 367 57 - - PUNCT taxlaw-2807 367 58 taking taking NOUN taxlaw-2807 367 59 and and CCONJ taxlaw-2807 367 60 investment investment NOUN taxlaw-2807 367 61 and and CCONJ taxlaw-2807 367 62 generate generate VERB taxlaw-2807 367 63 huge huge ADJ taxlaw-2807 367 64 compliance compliance NOUN taxlaw-2807 367 65 costs.105 costs.105 NOUN taxlaw-2807 367 66 even even ADV taxlaw-2807 367 67 a a DET taxlaw-2807 367 68 partial partial ADJ taxlaw-2807 367 69 mark mark NOUN taxlaw-2807 367 70 - - PUNCT taxlaw-2807 367 71 to to ADP taxlaw-2807 367 72 - - PUNCT taxlaw-2807 367 73 market market NOUN taxlaw-2807 367 74 regime regime NOUN taxlaw-2807 367 75 would would AUX taxlaw-2807 367 76 make make VERB taxlaw-2807 367 77 many many ADJ taxlaw-2807 367 78 loss loss NOUN taxlaw-2807 367 79 - - PUNCT taxlaw-2807 367 80 limitation limitation NOUN taxlaw-2807 367 81 rules rule NOUN taxlaw-2807 367 82 unnecessary unnecessary ADJ taxlaw-2807 367 83 because because SCONJ taxlaw-2807 367 84 whatever whatever PRON taxlaw-2807 367 85 was be AUX taxlaw-2807 367 86 taxed tax VERB taxlaw-2807 367 87 on on ADP taxlaw-2807 367 88 a a DET taxlaw-2807 367 89 mark mark NOUN taxlaw-2807 367 90 - - PUNCT taxlaw-2807 367 91 to to ADP taxlaw-2807 367 92 - - PUNCT taxlaw-2807 367 93 market market NOUN taxlaw-2807 367 94 basis basis NOUN taxlaw-2807 367 95 would would AUX taxlaw-2807 367 96 take take VERB taxlaw-2807 367 97 into into ADP taxlaw-2807 367 98 account account NOUN taxlaw-2807 367 99 all all DET taxlaw-2807 367 100 unrealized unrealized ADJ taxlaw-2807 367 101 gains gain NOUN taxlaw-2807 367 102 and and CCONJ taxlaw-2807 367 103 all all DET taxlaw-2807 367 104 unrealized unrealized ADJ taxlaw-2807 367 105 losses loss NOUN taxlaw-2807 367 106 — — PUNCT taxlaw-2807 367 107 so so SCONJ taxlaw-2807 367 108 taxpayers taxpayer NOUN taxlaw-2807 367 109 would would AUX taxlaw-2807 367 110 not not PART taxlaw-2807 367 111 even even ADV taxlaw-2807 367 112 have have VERB taxlaw-2807 367 113 to to PART taxlaw-2807 367 114 dispose dispose VERB taxlaw-2807 367 115 of of ADP taxlaw-2807 367 116 an an DET taxlaw-2807 367 117 asset asset NOUN taxlaw-2807 367 118 to to PART taxlaw-2807 367 119 deduct deduct VERB taxlaw-2807 367 120 their their PRON taxlaw-2807 367 121 losses.106 losses.106 NOUN taxlaw-2807 367 122 this this DET taxlaw-2807 367 123 fundamental fundamental ADJ taxlaw-2807 367 124 characteristic characteristic NOUN taxlaw-2807 367 125 of of ADP taxlaw-2807 367 126 mark mark NOUN taxlaw-2807 367 127 - - PUNCT taxlaw-2807 367 128 to to ADP taxlaw-2807 367 129 - - PUNCT taxlaw-2807 367 130 market market NOUN taxlaw-2807 367 131 taxation taxation NOUN taxlaw-2807 367 132 is be AUX taxlaw-2807 367 133 perhaps perhaps ADV taxlaw-2807 367 134 the the DET taxlaw-2807 367 135 most most ADV taxlaw-2807 367 136 credible credible ADJ taxlaw-2807 367 137 investment investment NOUN taxlaw-2807 367 138 and and CCONJ taxlaw-2807 367 139 risk risk NOUN taxlaw-2807 367 140 - - PUNCT taxlaw-2807 367 141 taking take VERB taxlaw-2807 367 142 subsidy subsidy NOUN taxlaw-2807 367 143 imaginable imaginable ADJ taxlaw-2807 367 144 . . PUNCT taxlaw-2807 368 1 c. c. NOUN taxlaw-2807 368 2 the the DET taxlaw-2807 368 3 policy policy NOUN taxlaw-2807 368 4 costs cost NOUN taxlaw-2807 368 5 of of ADP taxlaw-2807 368 6 a a DET taxlaw-2807 368 7 theoretical theoretical ADJ taxlaw-2807 368 8 debate debate NOUN taxlaw-2807 368 9 the the DET taxlaw-2807 368 10 standstill standstill NOUN taxlaw-2807 368 11 in in ADP taxlaw-2807 368 12 the the DET taxlaw-2807 368 13 debate debate NOUN taxlaw-2807 368 14 about about ADP taxlaw-2807 368 15 the the DET taxlaw-2807 368 16 realization realization NOUN taxlaw-2807 368 17 requirement requirement NOUN taxlaw-2807 368 18 — — PUNCT taxlaw-2807 368 19 with with ADP taxlaw-2807 368 20 most most ADJ taxlaw-2807 368 21 commentators commentator NOUN taxlaw-2807 368 22 accepting accept VERB taxlaw-2807 368 23 that that SCONJ taxlaw-2807 368 24 it it PRON taxlaw-2807 368 25 is be AUX taxlaw-2807 368 26 unjustified unjustified ADJ taxlaw-2807 368 27 but but CCONJ taxlaw-2807 368 28 virtually virtually ADV taxlaw-2807 368 29 impossible impossible ADJ taxlaw-2807 368 30 to to PART taxlaw-2807 368 31 replace replace VERB taxlaw-2807 368 32 — — PUNCT taxlaw-2807 368 33 has have AUX taxlaw-2807 368 34 produced produce VERB taxlaw-2807 368 35 some some DET taxlaw-2807 368 36 troubling troubling ADJ taxlaw-2807 368 37 outcomes outcome NOUN taxlaw-2807 368 38 . . PUNCT taxlaw-2807 369 1 tax tax NOUN taxlaw-2807 369 2 policy policy NOUN taxlaw-2807 369 3 has have AUX taxlaw-2807 369 4 stagnated stagnate VERB taxlaw-2807 369 5 as as SCONJ taxlaw-2807 369 6 the the DET taxlaw-2807 369 7 intellectual intellectual ADJ taxlaw-2807 369 8 resources resource NOUN taxlaw-2807 369 9 devoted devote VERB taxlaw-2807 369 10 to to ADP taxlaw-2807 369 11 its its PRON taxlaw-2807 369 12 development development NOUN taxlaw-2807 369 13 have have AUX taxlaw-2807 369 14 been be AUX taxlaw-2807 369 15 channeled channel VERB taxlaw-2807 369 16 almost almost ADV taxlaw-2807 369 17 entirely entirely ADV taxlaw-2807 369 18 into into ADP taxlaw-2807 369 19 preventing prevent VERB taxlaw-2807 369 20 the the DET taxlaw-2807 369 21 abuses abuse NOUN taxlaw-2807 369 22 made make VERB taxlaw-2807 369 23 possible possible ADJ taxlaw-2807 369 24 by by ADP taxlaw-2807 369 25 realization realization NOUN taxlaw-2807 369 26 . . PUNCT taxlaw-2807 370 1 it it PRON taxlaw-2807 370 2 would would AUX taxlaw-2807 370 3 be be AUX taxlaw-2807 370 4 naïve naïve ADJ taxlaw-2807 370 5 to to PART taxlaw-2807 370 6 expect expect VERB taxlaw-2807 370 7 that that SCONJ taxlaw-2807 370 8 every every DET taxlaw-2807 370 9 aspect aspect NOUN taxlaw-2807 370 10 of of ADP taxlaw-2807 370 11 a a DET taxlaw-2807 370 12 tax tax NOUN taxlaw-2807 370 13 regime regime NOUN taxlaw-2807 370 14 would would AUX taxlaw-2807 370 15 be be AUX taxlaw-2807 370 16 anchored anchor VERB taxlaw-2807 370 17 to to ADP taxlaw-2807 370 18 an an DET taxlaw-2807 370 19 explicit explicit ADJ taxlaw-2807 370 20 , , PUNCT taxlaw-2807 370 21 principled principled ADJ taxlaw-2807 370 22 policy policy NOUN taxlaw-2807 370 23 objective objective NOUN taxlaw-2807 370 24 . . PUNCT taxlaw-2807 371 1 however however ADV taxlaw-2807 371 2 , , PUNCT taxlaw-2807 371 3 realization realization NOUN taxlaw-2807 371 4 is be AUX taxlaw-2807 371 5 not not PART taxlaw-2807 371 6 just just ADV taxlaw-2807 371 7 another another DET taxlaw-2807 371 8 aspect aspect NOUN taxlaw-2807 371 9 of of ADP taxlaw-2807 371 10 the the DET taxlaw-2807 371 11 tax tax NOUN taxlaw-2807 371 12 regime regime NOUN taxlaw-2807 371 13 . . PUNCT taxlaw-2807 372 1 as as SCONJ taxlaw-2807 372 2 the the DET taxlaw-2807 372 3 above above ADJ taxlaw-2807 372 4 analysis analysis NOUN taxlaw-2807 372 5 suggests suggest VERB taxlaw-2807 372 6 , , PUNCT taxlaw-2807 372 7 it it PRON taxlaw-2807 372 8 is be AUX taxlaw-2807 372 9 the the DET taxlaw-2807 372 10 most most ADV taxlaw-2807 372 11 significant significant ADJ taxlaw-2807 372 12 and and CCONJ taxlaw-2807 372 13 problematic problematic ADJ taxlaw-2807 372 14 feature feature NOUN taxlaw-2807 372 15 of of ADP taxlaw-2807 372 16 the the DET taxlaw-2807 372 17 current current ADJ taxlaw-2807 372 18 income income NOUN taxlaw-2807 372 19 tax tax NOUN taxlaw-2807 372 20 . . PUNCT taxlaw-2807 373 1 the the DET taxlaw-2807 373 2 costs cost NOUN taxlaw-2807 373 3 associated associate VERB taxlaw-2807 373 4 with with ADP taxlaw-2807 373 5 the the DET taxlaw-2807 373 6 inability inability NOUN taxlaw-2807 373 7 to to PART taxlaw-2807 373 8 link link VERB taxlaw-2807 373 9 realization realization NOUN taxlaw-2807 373 10 to to ADP taxlaw-2807 373 11 any any DET taxlaw-2807 373 12 policy policy NOUN taxlaw-2807 373 13 objective objective NOUN taxlaw-2807 373 14 can can AUX taxlaw-2807 373 15 not not PART taxlaw-2807 373 16 , , PUNCT taxlaw-2807 373 17 therefore therefore ADV taxlaw-2807 373 18 , , PUNCT taxlaw-2807 373 19 be be AUX taxlaw-2807 373 20 overstated overstate VERB taxlaw-2807 373 21 . . PUNCT taxlaw-2807 374 1 within within ADP taxlaw-2807 374 2 tax tax NOUN taxlaw-2807 374 3 scholarship scholarship NOUN taxlaw-2807 374 4 , , PUNCT taxlaw-2807 374 5 disagreement disagreement NOUN taxlaw-2807 374 6 over over ADP taxlaw-2807 374 7 how how SCONJ taxlaw-2807 374 8 to to PART taxlaw-2807 374 9 accommodate accommodate VERB taxlaw-2807 374 10 a a DET taxlaw-2807 374 11 transactional transactional ADJ taxlaw-2807 374 12 realization realization NOUN taxlaw-2807 374 13 requirement requirement NOUN taxlaw-2807 374 14 has have AUX taxlaw-2807 374 15 enhanced enhance VERB taxlaw-2807 374 16 support support NOUN taxlaw-2807 374 17 for for ADP taxlaw-2807 374 18 the the DET taxlaw-2807 374 19 idea idea NOUN taxlaw-2807 374 20 of of ADP taxlaw-2807 374 21 abandoning abandon VERB taxlaw-2807 374 22 the the DET taxlaw-2807 374 23 income income NOUN taxlaw-2807 374 24 tax tax NOUN taxlaw-2807 374 25 altogether altogether ADV taxlaw-2807 374 26 . . PUNCT taxlaw-2807 375 1 the the DET taxlaw-2807 375 2 notion notion NOUN taxlaw-2807 375 3 that that SCONJ taxlaw-2807 375 4 the the DET taxlaw-2807 375 5 realization realization NOUN taxlaw-2807 375 6 requirement requirement NOUN taxlaw-2807 375 7 is be AUX taxlaw-2807 375 8 indispensable indispensable ADJ taxlaw-2807 375 9 to to ADP taxlaw-2807 375 10 an an DET taxlaw-2807 375 11 income income NOUN taxlaw-2807 375 12 tax tax NOUN taxlaw-2807 375 13 , , PUNCT taxlaw-2807 375 14 107 107 NUM taxlaw-2807 375 15 in in ADP taxlaw-2807 375 16 spite spite NOUN taxlaw-2807 375 17 of of ADP taxlaw-2807 375 18 its its PRON taxlaw-2807 375 19 serious serious ADJ taxlaw-2807 375 20 costs cost NOUN taxlaw-2807 375 21 , , PUNCT taxlaw-2807 375 22 has have AUX taxlaw-2807 375 23 prompted prompt VERB taxlaw-2807 375 24 calls call NOUN taxlaw-2807 375 25 that that PRON taxlaw-2807 375 26 favor favor VERB taxlaw-2807 375 27 shifting shift VERB taxlaw-2807 375 28 to to ADP taxlaw-2807 375 29 a a DET taxlaw-2807 375 30 consumption consumption NOUN taxlaw-2807 375 31 – – PUNCT taxlaw-2807 375 32 wage wage NOUN taxlaw-2807 375 33 tax tax NOUN taxlaw-2807 375 34 that that PRON taxlaw-2807 375 35 would would AUX taxlaw-2807 375 36 exempt exempt VERB taxlaw-2807 375 37 all all DET taxlaw-2807 375 38 the the DET taxlaw-2807 375 39 income income NOUN taxlaw-2807 375 40 derived derive VERB taxlaw-2807 375 41 from from ADP taxlaw-2807 375 42 investments investment NOUN taxlaw-2807 375 43 and and CCONJ taxlaw-2807 375 44 savings saving NOUN taxlaw-2807 375 45 .108 .108 NUM taxlaw-2807 375 46 such such DET taxlaw-2807 375 47 a a DET taxlaw-2807 375 48 tax tax NOUN taxlaw-2807 375 49 focuses focus VERB taxlaw-2807 375 50 on on ADP taxlaw-2807 375 51 certain certain ADJ taxlaw-2807 375 52 wage wage NOUN taxlaw-2807 375 53 - - PUNCT taxlaw-2807 375 54 paying pay VERB taxlaw-2807 375 55 and/or and/or CCONJ taxlaw-2807 375 56 consumption consumption NOUN taxlaw-2807 375 57 transactions transaction NOUN taxlaw-2807 375 58 that that PRON taxlaw-2807 375 59 are be AUX taxlaw-2807 375 60 easy easy ADJ taxlaw-2807 375 61 to to PART taxlaw-2807 375 62 observe observe VERB taxlaw-2807 375 63 and and CCONJ taxlaw-2807 375 64 define define VERB taxlaw-2807 375 65 while while SCONJ taxlaw-2807 375 66 completely completely ADV taxlaw-2807 375 67 exempting exempt VERB taxlaw-2807 375 68 investment investment NOUN taxlaw-2807 375 69 and and CCONJ taxlaw-2807 375 70 savings saving NOUN taxlaw-2807 375 71 from from ADP taxlaw-2807 375 72 taxation taxation NOUN taxlaw-2807 375 73 . . PUNCT taxlaw-2807 376 1 since since SCONJ taxlaw-2807 376 2 affluent affluent ADJ taxlaw-2807 376 3 individuals individual NOUN taxlaw-2807 376 4 hold hold VERB taxlaw-2807 376 5 most most ADJ taxlaw-2807 376 6 of of ADP taxlaw-2807 376 7 the the DET taxlaw-2807 376 8 capital capital NOUN taxlaw-2807 376 9 assets asset NOUN taxlaw-2807 376 10 that that PRON taxlaw-2807 376 11 would would AUX taxlaw-2807 376 12 become become VERB taxlaw-2807 376 13 exempt exempt ADJ taxlaw-2807 376 14 under under ADP taxlaw-2807 376 15 a a DET taxlaw-2807 376 16 consumption consumption NOUN taxlaw-2807 376 17 – – PUNCT taxlaw-2807 376 18 wage wage NOUN taxlaw-2807 376 19 tax tax NOUN taxlaw-2807 376 20 , , PUNCT taxlaw-2807 376 21 such such DET taxlaw-2807 376 22 a a DET taxlaw-2807 376 23 shift shift NOUN taxlaw-2807 376 24 would would AUX taxlaw-2807 376 25 reduce reduce VERB taxlaw-2807 376 26 tax tax NOUN taxlaw-2807 376 27 complexity complexity NOUN taxlaw-2807 376 28 103 103 NUM taxlaw-2807 376 29 terrence terrence PROPN taxlaw-2807 376 30 r. r. PROPN taxlaw-2807 376 31 chorvat chorvat PROPN taxlaw-2807 376 32 , , PUNCT taxlaw-2807 376 33 apologia apologia ADJ taxlaw-2807 376 34 for for ADP taxlaw-2807 376 35 the the DET taxlaw-2807 376 36 double double ADJ taxlaw-2807 376 37 taxation taxation NOUN taxlaw-2807 376 38 of of ADP taxlaw-2807 376 39 corporate corporate ADJ taxlaw-2807 376 40 income income NOUN taxlaw-2807 376 41 , , PUNCT taxlaw-2807 376 42 38 38 NUM taxlaw-2807 376 43 wake wake VERB taxlaw-2807 376 44 forest forest PROPN taxlaw-2807 376 45 l. l. PROPN taxlaw-2807 376 46 rev rev PROPN taxlaw-2807 376 47 . . PROPN taxlaw-2807 376 48 239 239 NUM taxlaw-2807 376 49 , , PUNCT taxlaw-2807 376 50 242 242 NUM taxlaw-2807 376 51 , , PUNCT taxlaw-2807 376 52 283 283 NUM taxlaw-2807 376 53 ( ( PUNCT taxlaw-2807 376 54 2003 2003 NUM taxlaw-2807 376 55 ) ) PUNCT taxlaw-2807 376 56 ( ( PUNCT taxlaw-2807 376 57 explaining explain VERB taxlaw-2807 376 58 that that SCONJ taxlaw-2807 376 59 by by ADP taxlaw-2807 376 60 allowing allow VERB taxlaw-2807 376 61 deduction deduction NOUN taxlaw-2807 376 62 of of ADP taxlaw-2807 376 63 losses loss NOUN taxlaw-2807 376 64 the the DET taxlaw-2807 376 65 income income NOUN taxlaw-2807 376 66 tax tax NOUN taxlaw-2807 376 67 functions function NOUN taxlaw-2807 376 68 as as ADP taxlaw-2807 376 69 a a DET taxlaw-2807 376 70 type type NOUN taxlaw-2807 376 71 of of ADP taxlaw-2807 376 72 insurance insurance NOUN taxlaw-2807 376 73 ) ) PUNCT taxlaw-2807 376 74 ; ; PUNCT taxlaw-2807 376 75 deborah deborah PROPN taxlaw-2807 376 76 h. h. PROPN taxlaw-2807 376 77 schenk schenk PROPN taxlaw-2807 376 78 , , PUNCT taxlaw-2807 376 79 saving save VERB taxlaw-2807 376 80 the the DET taxlaw-2807 376 81 income income NOUN taxlaw-2807 376 82 tax tax NOUN taxlaw-2807 376 83 with with ADP taxlaw-2807 376 84 a a DET taxlaw-2807 376 85 wealth wealth NOUN taxlaw-2807 376 86 tax tax NOUN taxlaw-2807 376 87 , , PUNCT taxlaw-2807 376 88 53 53 NUM taxlaw-2807 376 89 tax tax NOUN taxlaw-2807 376 90 l. l. PROPN taxlaw-2807 376 91 rev rev PROPN taxlaw-2807 376 92 . . PROPN taxlaw-2807 376 93 423 423 NUM taxlaw-2807 376 94 , , PUNCT taxlaw-2807 376 95 430 430 NUM taxlaw-2807 376 96 – – PUNCT taxlaw-2807 376 97 35 35 NUM taxlaw-2807 376 98 ( ( PUNCT taxlaw-2807 376 99 2000 2000 NUM taxlaw-2807 376 100 ) ) PUNCT taxlaw-2807 376 101 ( ( PUNCT taxlaw-2807 376 102 arguing argue VERB taxlaw-2807 376 103 that that SCONJ taxlaw-2807 376 104 loss loss NOUN taxlaw-2807 376 105 limitation limitation NOUN taxlaw-2807 376 106 rules rule NOUN taxlaw-2807 376 107 are be AUX taxlaw-2807 376 108 more more ADV taxlaw-2807 376 109 likely likely ADJ taxlaw-2807 376 110 to to PART taxlaw-2807 376 111 have have VERB taxlaw-2807 376 112 a a DET taxlaw-2807 376 113 regressive regressive ADJ taxlaw-2807 376 114 impact impact NOUN taxlaw-2807 376 115 because because SCONJ taxlaw-2807 376 116 taxpayers taxpayer NOUN taxlaw-2807 376 117 with with ADP taxlaw-2807 376 118 less less ADV taxlaw-2807 376 119 diversified diversified ADJ taxlaw-2807 376 120 portfolios portfolio NOUN taxlaw-2807 376 121 and and CCONJ taxlaw-2807 376 122 without without ADP taxlaw-2807 376 123 tax tax NOUN taxlaw-2807 376 124 advice advice NOUN taxlaw-2807 376 125 will will AUX taxlaw-2807 376 126 tend tend VERB taxlaw-2807 376 127 to to PART taxlaw-2807 376 128 suffer suffer VERB taxlaw-2807 376 129 capital capital NOUN taxlaw-2807 376 130 losses loss NOUN taxlaw-2807 376 131 without without ADP taxlaw-2807 376 132 being be AUX taxlaw-2807 376 133 able able ADJ taxlaw-2807 376 134 to to PART taxlaw-2807 376 135 offset offset VERB taxlaw-2807 376 136 them they PRON taxlaw-2807 376 137 ) ) PUNCT taxlaw-2807 376 138 ; ; PUNCT taxlaw-2807 376 139 david david PROPN taxlaw-2807 376 140 a. a. PROPN taxlaw-2807 376 141 weisbach weisbach PROPN taxlaw-2807 376 142 , , PUNCT taxlaw-2807 376 143 the the DET taxlaw-2807 376 144 ( ( PUNCT taxlaw-2807 376 145 non)taxation non)taxation NOUN taxlaw-2807 376 146 of of ADP taxlaw-2807 376 147 risk risk NOUN taxlaw-2807 376 148 , , PUNCT taxlaw-2807 376 149 58 58 NUM taxlaw-2807 376 150 tax tax NOUN taxlaw-2807 376 151 l. l. PROPN taxlaw-2807 376 152 rev rev PROPN taxlaw-2807 376 153 . . PROPN taxlaw-2807 376 154 1 1 NUM taxlaw-2807 376 155 ( ( PUNCT taxlaw-2807 376 156 2004 2004 NUM taxlaw-2807 376 157 ) ) PUNCT taxlaw-2807 376 158 ; ; PUNCT taxlaw-2807 376 159 lawrence lawrence PROPN taxlaw-2807 376 160 zelenak zelenak PROPN taxlaw-2807 376 161 , , PUNCT taxlaw-2807 376 162 the the DET taxlaw-2807 376 163 sometimes sometimes NOUN taxlaw-2807 376 164 - - PUNCT taxlaw-2807 376 165 taxation taxation NOUN taxlaw-2807 376 166 of of ADP taxlaw-2807 376 167 the the DET taxlaw-2807 376 168 returns return NOUN taxlaw-2807 376 169 to to ADP taxlaw-2807 376 170 risk risk NOUN taxlaw-2807 376 171 - - PUNCT taxlaw-2807 376 172 bearing bearing NOUN taxlaw-2807 376 173 under under ADP taxlaw-2807 376 174 a a DET taxlaw-2807 376 175 progressive progressive ADJ taxlaw-2807 376 176 income income NOUN taxlaw-2807 376 177 tax tax NOUN taxlaw-2807 376 178 , , PUNCT taxlaw-2807 376 179 59 59 NUM taxlaw-2807 376 180 smu smu PROPN taxlaw-2807 376 181 l. l. PROPN taxlaw-2807 376 182 rev rev PROPN taxlaw-2807 376 183 . . PROPN taxlaw-2807 376 184 879 879 NUM taxlaw-2807 376 185 , , PUNCT taxlaw-2807 376 186 891–95 891–95 NUM taxlaw-2807 376 187 ( ( PUNCT taxlaw-2807 376 188 2006 2006 NUM taxlaw-2807 376 189 ) ) PUNCT taxlaw-2807 376 190 . . PUNCT taxlaw-2807 377 1 104 104 NUM taxlaw-2807 377 2 land land NOUN taxlaw-2807 377 3 , , PUNCT taxlaw-2807 377 4 supra supra PROPN taxlaw-2807 377 5 note note PROPN taxlaw-2807 377 6 29 29 NUM taxlaw-2807 377 7 , , PUNCT taxlaw-2807 377 8 and and CCONJ taxlaw-2807 377 9 accompanying accompany VERB taxlaw-2807 377 10 text text NOUN taxlaw-2807 377 11 . . PUNCT taxlaw-2807 378 1 105 105 NUM taxlaw-2807 378 2 see see VERB taxlaw-2807 378 3 ilan ilan PROPN taxlaw-2807 378 4 benshalom benshalom PROPN taxlaw-2807 378 5 , , PUNCT taxlaw-2807 378 6 supra supra PROPN taxlaw-2807 378 7 note note VERB taxlaw-2807 378 8 39 39 NUM taxlaw-2807 378 9 ( ( PUNCT taxlaw-2807 378 10 discussing discuss VERB taxlaw-2807 378 11 what what PRON taxlaw-2807 378 12 comprises comprise VERB taxlaw-2807 378 13 an an DET taxlaw-2807 378 14 optimal optimal ADJ taxlaw-2807 378 15 allocation allocation NOUN taxlaw-2807 378 16 of of ADP taxlaw-2807 378 17 public public ADJ taxlaw-2807 378 18 goods good NOUN taxlaw-2807 378 19 ) ) PUNCT taxlaw-2807 378 20 ; ; PUNCT taxlaw-2807 378 21 walter walter PROPN taxlaw-2807 378 22 blum blum PROPN taxlaw-2807 378 23 & & CCONJ taxlaw-2807 378 24 harry harry PROPN taxlaw-2807 378 25 kalven kalven PROPN taxlaw-2807 378 26 , , PUNCT taxlaw-2807 378 27 the the DET taxlaw-2807 378 28 uneasy uneasy ADJ taxlaw-2807 378 29 case case NOUN taxlaw-2807 378 30 for for ADP taxlaw-2807 378 31 progressive progressive ADJ taxlaw-2807 378 32 taxation taxation NOUN taxlaw-2807 378 33 , , PUNCT taxlaw-2807 378 34 19 19 NUM taxlaw-2807 378 35 u. u. NOUN taxlaw-2807 378 36 chi chi PROPN taxlaw-2807 378 37 . . PUNCT taxlaw-2807 379 1 l. l. PROPN taxlaw-2807 379 2 rev rev PROPN taxlaw-2807 379 3 . . PROPN taxlaw-2807 380 1 417 417 NUM taxlaw-2807 380 2 , , PUNCT taxlaw-2807 380 3 427–31 427–31 NUM taxlaw-2807 380 4 , , PUNCT taxlaw-2807 380 5 437–39 437–39 NUM taxlaw-2807 380 6 ( ( PUNCT taxlaw-2807 380 7 1952);land 1952);land NUM taxlaw-2807 380 8 , , PUNCT taxlaw-2807 380 9 supra supra ADJ taxlaw-2807 380 10 note note NOUN taxlaw-2807 380 11 29 29 NUM taxlaw-2807 380 12 , , PUNCT taxlaw-2807 380 13 at at ADP taxlaw-2807 380 14 51 51 NUM taxlaw-2807 380 15 ; ; PUNCT taxlaw-2807 380 16 shaviro shaviro NOUN taxlaw-2807 380 17 , , PUNCT taxlaw-2807 380 18 supra supra PROPN taxlaw-2807 380 19 note note NOUN taxlaw-2807 380 20 1 1 NUM taxlaw-2807 380 21 , , PUNCT taxlaw-2807 380 22 at at ADP taxlaw-2807 380 23 4 4 NUM taxlaw-2807 380 24 . . NOUN taxlaw-2807 380 25 106 106 NUM taxlaw-2807 380 26 leandra leandra PROPN taxlaw-2807 380 27 lederman lederman PROPN taxlaw-2807 380 28 , , PUNCT taxlaw-2807 380 29 the the DET taxlaw-2807 380 30 entrepreneurship entrepreneurship NOUN taxlaw-2807 380 31 effect effect NOUN taxlaw-2807 380 32 : : PUNCT taxlaw-2807 380 33 an an DET taxlaw-2807 380 34 accidental accidental ADJ taxlaw-2807 380 35 externality externality NOUN taxlaw-2807 380 36 in in ADP taxlaw-2807 380 37 the the DET taxlaw-2807 380 38 federal federal ADJ taxlaw-2807 380 39 income income NOUN taxlaw-2807 380 40 tax tax NOUN taxlaw-2807 380 41 , , PUNCT taxlaw-2807 380 42 65 65 NUM taxlaw-2807 380 43 ohio ohio PROPN taxlaw-2807 380 44 st st PROPN taxlaw-2807 380 45 . . PROPN taxlaw-2807 380 46 l.j l.j PROPN taxlaw-2807 380 47 . . PROPN taxlaw-2807 380 48 1401 1401 NUM taxlaw-2807 380 49 , , PUNCT taxlaw-2807 380 50 1435–44 1435–44 NUM taxlaw-2807 380 51 ( ( PUNCT taxlaw-2807 380 52 2004 2004 NUM taxlaw-2807 380 53 ) ) PUNCT taxlaw-2807 380 54 . . PUNCT taxlaw-2807 381 1 107 107 NUM taxlaw-2807 381 2 david david PROPN taxlaw-2807 381 3 f. f. PROPN taxlaw-2807 381 4 bradford bradford PROPN taxlaw-2807 381 5 , , PUNCT taxlaw-2807 381 6 fixing fix VERB taxlaw-2807 381 7 realization realization NOUN taxlaw-2807 381 8 accounting accounting NOUN taxlaw-2807 381 9 : : PUNCT taxlaw-2807 381 10 symmetry symmetry NOUN taxlaw-2807 381 11 , , PUNCT taxlaw-2807 381 12 consistency consistency NOUN taxlaw-2807 381 13 and and CCONJ taxlaw-2807 381 14 correctness correctness NOUN taxlaw-2807 381 15 in in ADP taxlaw-2807 381 16 the the DET taxlaw-2807 381 17 taxation taxation NOUN taxlaw-2807 381 18 of of ADP taxlaw-2807 381 19 financial financial ADJ taxlaw-2807 381 20 instruments instrument NOUN taxlaw-2807 381 21 , , PUNCT taxlaw-2807 381 22 50 50 NUM taxlaw-2807 381 23 tax tax NOUN taxlaw-2807 381 24 l. l. PROPN taxlaw-2807 381 25 rev rev PROPN taxlaw-2807 381 26 . . PROPN taxlaw-2807 381 27 731 731 NUM taxlaw-2807 381 28 , , PUNCT taxlaw-2807 381 29 769 769 NUM taxlaw-2807 381 30 ( ( PUNCT taxlaw-2807 381 31 1995 1995 NUM taxlaw-2807 381 32 ) ) PUNCT taxlaw-2807 381 33 ; ; PUNCT taxlaw-2807 381 34 david david PROPN taxlaw-2807 381 35 m. m. PROPN taxlaw-2807 381 36 schizer schizer PROPN taxlaw-2807 381 37 , , PUNCT taxlaw-2807 381 38 frictions friction NOUN taxlaw-2807 381 39 as as ADP taxlaw-2807 381 40 a a DET taxlaw-2807 381 41 constraint constraint NOUN taxlaw-2807 381 42 on on ADP taxlaw-2807 381 43 tax tax NOUN taxlaw-2807 381 44 planning planning NOUN taxlaw-2807 381 45 , , PUNCT taxlaw-2807 381 46 101 101 NUM taxlaw-2807 381 47 colum colum NOUN taxlaw-2807 381 48 . . PUNCT taxlaw-2807 382 1 l. l. PROPN taxlaw-2807 382 2 rev rev PROPN taxlaw-2807 382 3 . . PROPN taxlaw-2807 382 4 1312 1312 NUM taxlaw-2807 382 5 , , PUNCT taxlaw-2807 382 6 1314–15 1314–15 NUM taxlaw-2807 382 7 ( ( PUNCT taxlaw-2807 382 8 2001 2001 NUM taxlaw-2807 382 9 ) ) PUNCT taxlaw-2807 382 10 . . PUNCT taxlaw-2807 383 1 108 108 NUM taxlaw-2807 383 2 andrews andrews PROPN taxlaw-2807 383 3 , , PUNCT taxlaw-2807 383 4 supra supra PROPN taxlaw-2807 383 5 note note PROPN taxlaw-2807 383 6 7 7 NUM taxlaw-2807 383 7 , , PUNCT taxlaw-2807 383 8 at at ADP taxlaw-2807 383 9 1115–16 1115–16 NUM taxlaw-2807 383 10 . . PUNCT taxlaw-2807 384 1 see see VERB taxlaw-2807 384 2 generally generally ADV taxlaw-2807 384 3 bankman bankman ADJ taxlaw-2807 384 4 & & CCONJ taxlaw-2807 384 5 weisbach weisbach NOUN taxlaw-2807 384 6 , , PUNCT taxlaw-2807 384 7 supra supra ADJ taxlaw-2807 384 8 note note NOUN taxlaw-2807 384 9 7 7 NUM taxlaw-2807 384 10 , , PUNCT taxlaw-2807 384 11 at at ADP taxlaw-2807 384 12 78991 78991 NUM taxlaw-2807 384 13 ( ( PUNCT taxlaw-2807 384 14 supporting support VERB taxlaw-2807 384 15 dan dan PROPN taxlaw-2807 384 16 shaviro shaviro PROPN taxlaw-2807 384 17 ’s ’s PART taxlaw-2807 384 18 arguments argument NOUN taxlaw-2807 384 19 in in ADP taxlaw-2807 384 20 favor favor NOUN taxlaw-2807 384 21 of of ADP taxlaw-2807 384 22 the the DET taxlaw-2807 384 23 consumption consumption NOUN taxlaw-2807 384 24 tax tax NOUN taxlaw-2807 384 25 ) ) PUNCT taxlaw-2807 384 26 . . PUNCT taxlaw-2807 385 1 2011 2011 NUM taxlaw-2807 385 2 ] ] PUNCT taxlaw-2807 385 3 realization realization NOUN taxlaw-2807 385 4 and and CCONJ taxlaw-2807 385 5 progressivity progressivity NOUN taxlaw-2807 385 6 61 61 NUM taxlaw-2807 385 7 at at ADP taxlaw-2807 385 8 the the DET taxlaw-2807 385 9 expense expense NOUN taxlaw-2807 385 10 of of ADP taxlaw-2807 385 11 reducing reduce VERB taxlaw-2807 385 12 its its PRON taxlaw-2807 385 13 progressivity.109 progressivity.109 VERB taxlaw-2807 385 14 because because SCONJ taxlaw-2807 385 15 of of ADP taxlaw-2807 385 16 the the DET taxlaw-2807 385 17 realization realization NOUN taxlaw-2807 385 18 requirement requirement NOUN taxlaw-2807 385 19 , , PUNCT taxlaw-2807 385 20 the the DET taxlaw-2807 385 21 current current ADJ taxlaw-2807 385 22 tax tax NOUN taxlaw-2807 385 23 regime regime NOUN taxlaw-2807 385 24 ’s ’s PART taxlaw-2807 385 25 treatment treatment NOUN taxlaw-2807 385 26 of of ADP taxlaw-2807 385 27 investment investment NOUN taxlaw-2807 385 28 returns return NOUN taxlaw-2807 385 29 is be AUX taxlaw-2807 385 30 arbitrary.110 arbitrary.110 ADJ taxlaw-2807 385 31 thus thus ADV taxlaw-2807 385 32 , , PUNCT taxlaw-2807 385 33 shifting shift VERB taxlaw-2807 385 34 to to ADP taxlaw-2807 385 35 a a DET taxlaw-2807 385 36 consumption consumption NOUN taxlaw-2807 385 37 tax tax NOUN taxlaw-2807 385 38 would would AUX taxlaw-2807 385 39 actually actually ADV taxlaw-2807 385 40 sacrifice sacrifice VERB taxlaw-2807 385 41 very very ADV taxlaw-2807 385 42 little little ADJ taxlaw-2807 385 43 in in ADP taxlaw-2807 385 44 terms term NOUN taxlaw-2807 385 45 of of ADP taxlaw-2807 385 46 progressivity progressivity NOUN taxlaw-2807 385 47 . . PUNCT taxlaw-2807 386 1 in in ADP taxlaw-2807 386 2 the the DET taxlaw-2807 386 3 united united PROPN taxlaw-2807 386 4 states states PROPN taxlaw-2807 386 5 today today NOUN taxlaw-2807 386 6 , , PUNCT taxlaw-2807 386 7 and and CCONJ taxlaw-2807 386 8 in in ADP taxlaw-2807 386 9 the the DET taxlaw-2807 386 10 developed developed ADJ taxlaw-2807 386 11 world world NOUN taxlaw-2807 386 12 more more ADV taxlaw-2807 386 13 generally,111 generally,111 VERB taxlaw-2807 386 14 the the DET taxlaw-2807 386 15 notion notion NOUN taxlaw-2807 386 16 of of ADP taxlaw-2807 386 17 tax tax NOUN taxlaw-2807 386 18 progressivity progressivity NOUN taxlaw-2807 386 19 has have VERB taxlaw-2807 386 20 strong strong ADJ taxlaw-2807 386 21 policy policy NOUN taxlaw-2807 386 22 justifications justification NOUN taxlaw-2807 386 23 and and CCONJ taxlaw-2807 386 24 garners garner VERB taxlaw-2807 386 25 considerable considerable ADJ taxlaw-2807 386 26 political political ADJ taxlaw-2807 386 27 support.112 support.112 NOUN taxlaw-2807 386 28 if if SCONJ taxlaw-2807 386 29 tax tax NOUN taxlaw-2807 386 30 progressivity progressivity NOUN taxlaw-2807 386 31 is be AUX taxlaw-2807 386 32 a a DET taxlaw-2807 386 33 worthy worthy ADJ taxlaw-2807 386 34 goal goal NOUN taxlaw-2807 386 35 , , PUNCT taxlaw-2807 386 36 then then ADV taxlaw-2807 386 37 the the DET taxlaw-2807 386 38 consumption consumption NOUN taxlaw-2807 386 39 tax tax NOUN taxlaw-2807 386 40 is be AUX taxlaw-2807 386 41 an an DET taxlaw-2807 386 42 undesirable undesirable ADJ taxlaw-2807 386 43 answer answer NOUN taxlaw-2807 386 44 to to ADP taxlaw-2807 386 45 the the DET taxlaw-2807 386 46 predicament predicament NOUN taxlaw-2807 386 47 of of ADP taxlaw-2807 386 48 realization.113 realization.113 NOUN taxlaw-2807 386 49 instead instead ADV taxlaw-2807 386 50 of of ADP taxlaw-2807 386 51 throwing throw VERB taxlaw-2807 386 52 the the DET taxlaw-2807 386 53 baby baby NOUN taxlaw-2807 386 54 out out ADP taxlaw-2807 386 55 with with ADP taxlaw-2807 386 56 the the DET taxlaw-2807 386 57 bathwater bathwater NOUN taxlaw-2807 386 58 , , PUNCT taxlaw-2807 386 59 it it PRON taxlaw-2807 386 60 is be AUX taxlaw-2807 386 61 time time NOUN taxlaw-2807 386 62 to to PART taxlaw-2807 386 63 critically critically ADV taxlaw-2807 386 64 reconsider reconsider VERB taxlaw-2807 386 65 the the DET taxlaw-2807 386 66 role role NOUN taxlaw-2807 386 67 of of ADP taxlaw-2807 386 68 the the DET taxlaw-2807 386 69 realization realization NOUN taxlaw-2807 386 70 requirement requirement NOUN taxlaw-2807 386 71 in in ADP taxlaw-2807 386 72 contemporary contemporary ADJ taxlaw-2807 386 73 income income NOUN taxlaw-2807 386 74 tax tax NOUN taxlaw-2807 386 75 policy policy NOUN taxlaw-2807 386 76 and and CCONJ taxlaw-2807 386 77 theory theory NOUN taxlaw-2807 386 78 . . PUNCT taxlaw-2807 387 1 iii iii X taxlaw-2807 387 2 . . PUNCT taxlaw-2807 388 1 a a DET taxlaw-2807 388 2 normative normative ADJ taxlaw-2807 388 3 defense defense NOUN taxlaw-2807 388 4 for for ADP taxlaw-2807 388 5 realization realization NOUN taxlaw-2807 388 6 — — PUNCT taxlaw-2807 388 7 promoting promote VERB taxlaw-2807 388 8 income income NOUN taxlaw-2807 388 9 tax tax NOUN taxlaw-2807 388 10 progressivity progressivity NOUN taxlaw-2807 388 11 this this DET taxlaw-2807 388 12 article article NOUN taxlaw-2807 388 13 advances advance VERB taxlaw-2807 388 14 the the DET taxlaw-2807 388 15 notion notion NOUN taxlaw-2807 388 16 that that SCONJ taxlaw-2807 388 17 realization realization NOUN taxlaw-2807 388 18 is be AUX taxlaw-2807 388 19 tied tie VERB taxlaw-2807 388 20 to to ADP taxlaw-2807 388 21 the the DET taxlaw-2807 388 22 progressivity progressivity NOUN taxlaw-2807 388 23 of of ADP taxlaw-2807 388 24 the the DET taxlaw-2807 388 25 income income NOUN taxlaw-2807 388 26 tax tax NOUN taxlaw-2807 388 27 base base NOUN taxlaw-2807 388 28 and and CCONJ taxlaw-2807 388 29 can can AUX taxlaw-2807 388 30 therefore therefore ADV taxlaw-2807 388 31 be be AUX taxlaw-2807 388 32 seen see VERB taxlaw-2807 388 33 as as ADP taxlaw-2807 388 34 part part NOUN taxlaw-2807 388 35 of of ADP taxlaw-2807 388 36 a a DET taxlaw-2807 388 37 broader broad ADJ taxlaw-2807 388 38 attempt attempt NOUN taxlaw-2807 388 39 to to PART taxlaw-2807 388 40 promote promote VERB taxlaw-2807 388 41 wealth wealth NOUN taxlaw-2807 388 42 redistribution redistribution NOUN taxlaw-2807 388 43 . . PUNCT taxlaw-2807 389 1 it it PRON taxlaw-2807 389 2 approaches approach VERB taxlaw-2807 389 3 the the DET taxlaw-2807 389 4 normative normative ADJ taxlaw-2807 389 5 arguments argument NOUN taxlaw-2807 389 6 for for ADP taxlaw-2807 389 7 realization realization NOUN taxlaw-2807 389 8 by by ADP taxlaw-2807 389 9 asking ask VERB taxlaw-2807 389 10 what what PRON taxlaw-2807 389 11 should should AUX taxlaw-2807 389 12 happen happen VERB taxlaw-2807 389 13 if if SCONJ taxlaw-2807 389 14 policymakers policymaker NOUN taxlaw-2807 389 15 could could AUX taxlaw-2807 389 16 accurately accurately ADV taxlaw-2807 389 17 and and CCONJ taxlaw-2807 389 18 costlessly costlessly ADV taxlaw-2807 389 19 observe observe VERB taxlaw-2807 389 20 the the DET taxlaw-2807 389 21 market market NOUN taxlaw-2807 389 22 price price NOUN taxlaw-2807 389 23 of of ADP taxlaw-2807 389 24 all all DET taxlaw-2807 389 25 assets asset NOUN taxlaw-2807 389 26 . . PUNCT taxlaw-2807 390 1 that that PRON taxlaw-2807 390 2 is be AUX taxlaw-2807 390 3 , , PUNCT taxlaw-2807 390 4 if if SCONJ taxlaw-2807 390 5 valuation valuation NOUN taxlaw-2807 390 6 were be AUX taxlaw-2807 390 7 no no DET taxlaw-2807 390 8 obstacle obstacle NOUN taxlaw-2807 390 9 , , PUNCT taxlaw-2807 390 10 would would AUX taxlaw-2807 390 11 we we PRON taxlaw-2807 390 12 want want VERB taxlaw-2807 390 13 to to PART taxlaw-2807 390 14 subject subject VERB taxlaw-2807 390 15 all all DET taxlaw-2807 390 16 assets asset NOUN taxlaw-2807 390 17 to to PART taxlaw-2807 390 18 mark mark VERB taxlaw-2807 390 19 - - PUNCT taxlaw-2807 390 20 to to ADP taxlaw-2807 390 21 - - PUNCT taxlaw-2807 390 22 market market NOUN taxlaw-2807 390 23 taxation taxation NOUN taxlaw-2807 390 24 and and CCONJ taxlaw-2807 390 25 , , PUNCT taxlaw-2807 390 26 if if SCONJ taxlaw-2807 390 27 not not PART taxlaw-2807 390 28 , , PUNCT taxlaw-2807 390 29 why why SCONJ taxlaw-2807 390 30 ? ? PUNCT taxlaw-2807 391 1 the the DET taxlaw-2807 391 2 main main ADJ taxlaw-2807 391 3 argument argument NOUN taxlaw-2807 391 4 is be AUX taxlaw-2807 391 5 that that SCONJ taxlaw-2807 391 6 while while SCONJ taxlaw-2807 391 7 errors error NOUN taxlaw-2807 391 8 will will AUX taxlaw-2807 391 9 occur occur VERB taxlaw-2807 391 10 under under ADP taxlaw-2807 391 11 any any DET taxlaw-2807 391 12 system system NOUN taxlaw-2807 391 13 , , PUNCT taxlaw-2807 391 14 not not PART taxlaw-2807 391 15 all all DET taxlaw-2807 391 16 errors error NOUN taxlaw-2807 391 17 are be AUX taxlaw-2807 391 18 equal equal ADJ taxlaw-2807 391 19 . . PUNCT taxlaw-2807 392 1 if if SCONJ taxlaw-2807 392 2 a a DET taxlaw-2807 392 3 primary primary ADJ taxlaw-2807 392 4 goal goal NOUN taxlaw-2807 392 5 of of ADP taxlaw-2807 392 6 the the DET taxlaw-2807 392 7 system system NOUN taxlaw-2807 392 8 is be AUX taxlaw-2807 392 9 redistribution redistribution NOUN taxlaw-2807 392 10 , , PUNCT taxlaw-2807 392 11 we we PRON taxlaw-2807 392 12 should should AUX taxlaw-2807 392 13 consider consider VERB taxlaw-2807 392 14 the the DET taxlaw-2807 392 15 distributive distributive ADJ taxlaw-2807 392 16 impact impact NOUN taxlaw-2807 392 17 of of ADP taxlaw-2807 392 18 different different ADJ taxlaw-2807 392 19 types type NOUN taxlaw-2807 392 20 of of ADP taxlaw-2807 392 21 errors error NOUN taxlaw-2807 392 22 . . PUNCT taxlaw-2807 393 1 the the DET taxlaw-2807 393 2 first first ADJ taxlaw-2807 393 3 subpart subpart NOUN taxlaw-2807 393 4 explains explain VERB taxlaw-2807 393 5 the the DET taxlaw-2807 393 6 fundamental fundamental ADJ taxlaw-2807 393 7 relationship relationship NOUN taxlaw-2807 393 8 between between ADP taxlaw-2807 393 9 tax tax NOUN taxlaw-2807 393 10 policy policy NOUN taxlaw-2807 393 11 and and CCONJ taxlaw-2807 393 12 redistribution redistribution NOUN taxlaw-2807 393 13 . . PUNCT taxlaw-2807 394 1 the the DET taxlaw-2807 394 2 second second ADJ taxlaw-2807 394 3 subpart subpart NOUN taxlaw-2807 394 4 argues argue VERB taxlaw-2807 394 5 that that SCONJ taxlaw-2807 394 6 the the DET taxlaw-2807 394 7 realization realization NOUN taxlaw-2807 394 8 requirement requirement NOUN taxlaw-2807 394 9 is be AUX taxlaw-2807 394 10 normatively normatively ADV taxlaw-2807 394 11 justified justify VERB taxlaw-2807 394 12 , , PUNCT taxlaw-2807 394 13 but but CCONJ taxlaw-2807 394 14 only only ADV taxlaw-2807 394 15 with with ADP taxlaw-2807 394 16 respect respect NOUN taxlaw-2807 394 17 to to ADP taxlaw-2807 394 18 certain certain ADJ taxlaw-2807 394 19 emotionally emotionally ADV taxlaw-2807 394 20 non non ADJ taxlaw-2807 394 21 - - ADJ taxlaw-2807 394 22 fungible fungible ADJ taxlaw-2807 394 23 ( ( PUNCT taxlaw-2807 394 24 personal personal ADJ taxlaw-2807 394 25 ) ) PUNCT taxlaw-2807 394 26 assets asset NOUN taxlaw-2807 394 27 . . PUNCT taxlaw-2807 395 1 personal personal ADJ taxlaw-2807 395 2 assets asset NOUN taxlaw-2807 395 3 are be AUX taxlaw-2807 395 4 broadly broadly ADV taxlaw-2807 395 5 defined define VERB taxlaw-2807 395 6 as as ADP taxlaw-2807 395 7 assets asset NOUN taxlaw-2807 395 8 for for ADP taxlaw-2807 395 9 which which PRON taxlaw-2807 395 10 the the DET taxlaw-2807 395 11 market market NOUN taxlaw-2807 395 12 price price NOUN taxlaw-2807 395 13 provides provide VERB taxlaw-2807 395 14 an an DET taxlaw-2807 395 15 inconsistent inconsistent ADJ taxlaw-2807 395 16 indication indication NOUN taxlaw-2807 395 17 of of ADP taxlaw-2807 395 18 the the DET taxlaw-2807 395 19 value value NOUN taxlaw-2807 395 20 taxpayers taxpayer NOUN taxlaw-2807 395 21 assign assign VERB taxlaw-2807 395 22 to to ADP taxlaw-2807 395 23 them they PRON taxlaw-2807 395 24 . . PUNCT taxlaw-2807 396 1 with with ADP taxlaw-2807 396 2 respect respect NOUN taxlaw-2807 396 3 to to ADP taxlaw-2807 396 4 these these DET taxlaw-2807 396 5 assets asset NOUN taxlaw-2807 396 6 , , PUNCT taxlaw-2807 396 7 the the DET taxlaw-2807 396 8 market market NOUN taxlaw-2807 396 9 price price NOUN taxlaw-2807 396 10 offers offer NOUN taxlaw-2807 396 11 but but CCONJ taxlaw-2807 396 12 a a DET taxlaw-2807 396 13 poor poor ADJ taxlaw-2807 396 14 proxy proxy NOUN taxlaw-2807 396 15 for for ADP taxlaw-2807 396 16 well well ADV taxlaw-2807 396 17 - - PUNCT taxlaw-2807 396 18 being being NOUN taxlaw-2807 396 19 and and CCONJ taxlaw-2807 396 20 therefore therefore ADV taxlaw-2807 396 21 should should AUX taxlaw-2807 396 22 not not PART taxlaw-2807 396 23 be be AUX taxlaw-2807 396 24 used use VERB taxlaw-2807 396 25 by by ADP taxlaw-2807 396 26 the the DET taxlaw-2807 396 27 tax tax NOUN taxlaw-2807 396 28 regime regime NOUN taxlaw-2807 396 29 for for ADP taxlaw-2807 396 30 interpersonal interpersonal ADJ taxlaw-2807 396 31 comparisons comparison NOUN taxlaw-2807 396 32 . . PUNCT taxlaw-2807 397 1 the the DET taxlaw-2807 397 2 third third ADJ taxlaw-2807 397 3 subpart subpart NOUN taxlaw-2807 397 4 asks ask VERB taxlaw-2807 397 5 what what PRON taxlaw-2807 397 6 course course NOUN taxlaw-2807 397 7 of of ADP taxlaw-2807 397 8 action action NOUN taxlaw-2807 397 9 policymakers policymaker NOUN taxlaw-2807 397 10 should should AUX taxlaw-2807 397 11 take take VERB taxlaw-2807 397 12 knowing know VERB taxlaw-2807 397 13 the the DET taxlaw-2807 397 14 high high ADJ taxlaw-2807 397 15 likelihood likelihood NOUN taxlaw-2807 397 16 of of ADP taxlaw-2807 397 17 error error NOUN taxlaw-2807 397 18 in in ADP taxlaw-2807 397 19 measuring measure VERB taxlaw-2807 397 20 economic economic ADJ taxlaw-2807 397 21 well well NOUN taxlaw-2807 397 22 - - PUNCT taxlaw-2807 397 23 being being NOUN taxlaw-2807 397 24 by by ADP taxlaw-2807 397 25 the the DET taxlaw-2807 397 26 market market NOUN taxlaw-2807 397 27 price price NOUN taxlaw-2807 397 28 of of ADP taxlaw-2807 397 29 personal personal ADJ taxlaw-2807 397 30 assets asset NOUN taxlaw-2807 397 31 . . PUNCT taxlaw-2807 398 1 it it PRON taxlaw-2807 398 2 suggests suggest VERB taxlaw-2807 398 3 that that SCONJ taxlaw-2807 398 4 policymakers policymaker NOUN taxlaw-2807 398 5 committed commit VERB taxlaw-2807 398 6 to to ADP taxlaw-2807 398 7 income income NOUN taxlaw-2807 398 8 tax tax NOUN taxlaw-2807 398 9 progressivity progressivity NOUN taxlaw-2807 398 10 may may AUX taxlaw-2807 398 11 choose choose VERB taxlaw-2807 398 12 to to PART taxlaw-2807 398 13 tax tax VERB taxlaw-2807 398 14 personal personal ADJ taxlaw-2807 398 15 assets asset NOUN taxlaw-2807 398 16 only only ADV taxlaw-2807 398 17 upon upon SCONJ taxlaw-2807 398 18 realization realization NOUN taxlaw-2807 398 19 . . PUNCT taxlaw-2807 399 1 this this DET taxlaw-2807 399 2 analysis analysis NOUN taxlaw-2807 399 3 acknowledges acknowledge VERB taxlaw-2807 399 4 that that SCONJ taxlaw-2807 399 5 the the DET taxlaw-2807 399 6 taxation taxation NOUN taxlaw-2807 399 7 of of ADP taxlaw-2807 399 8 personal personal ADJ taxlaw-2807 399 9 assets asset NOUN taxlaw-2807 399 10 only only ADV taxlaw-2807 399 11 upon upon SCONJ taxlaw-2807 399 12 realization realization NOUN taxlaw-2807 399 13 should should AUX taxlaw-2807 399 14 be be AUX taxlaw-2807 399 15 seen see VERB taxlaw-2807 399 16 as as ADP taxlaw-2807 399 17 a a DET taxlaw-2807 399 18 tax tax NOUN taxlaw-2807 399 19 benefit benefit NOUN taxlaw-2807 399 20 . . PUNCT taxlaw-2807 400 1 however however ADV taxlaw-2807 400 2 , , PUNCT taxlaw-2807 400 3 we we PRON taxlaw-2807 400 4 argue argue VERB taxlaw-2807 400 5 that that SCONJ taxlaw-2807 400 6 unlike unlike ADP taxlaw-2807 400 7 most most ADJ taxlaw-2807 400 8 tax tax NOUN taxlaw-2807 400 9 benefits benefit NOUN taxlaw-2807 400 10 , , PUNCT taxlaw-2807 400 11 this this DET taxlaw-2807 400 12 benefit benefit NOUN taxlaw-2807 400 13 is be AUX taxlaw-2807 400 14 relatively relatively ADV taxlaw-2807 400 15 progressive progressive ADJ taxlaw-2807 400 16 in in ADP taxlaw-2807 400 17 nature nature NOUN taxlaw-2807 400 18 , , PUNCT taxlaw-2807 400 19 favoring favor VERB taxlaw-2807 400 20 primarily primarily ADV taxlaw-2807 400 21 the the DET taxlaw-2807 400 22 middle middle NOUN taxlaw-2807 400 23 ( ( PUNCT taxlaw-2807 400 24 rather rather ADV taxlaw-2807 400 25 than than ADP taxlaw-2807 400 26 the the DET taxlaw-2807 400 27 upper upper ADJ taxlaw-2807 400 28 ) ) PUNCT taxlaw-2807 400 29 class class NOUN taxlaw-2807 400 30 . . PUNCT taxlaw-2807 401 1 this this PRON taxlaw-2807 401 2 is be AUX taxlaw-2807 401 3 because because SCONJ taxlaw-2807 401 4 personal personal ADJ taxlaw-2807 401 5 assets asset NOUN taxlaw-2807 401 6 comprise comprise VERB taxlaw-2807 401 7 a a DET taxlaw-2807 401 8 disproportionately disproportionately ADV taxlaw-2807 401 9 high high ADJ taxlaw-2807 401 10 percentage percentage NOUN taxlaw-2807 401 11 of of ADP taxlaw-2807 401 12 less less ADV taxlaw-2807 401 13 affluent affluent ADJ taxlaw-2807 401 14 taxpayers taxpayer NOUN taxlaw-2807 401 15 ’ ' PUNCT taxlaw-2807 401 16 assets asset NOUN taxlaw-2807 401 17 but but CCONJ taxlaw-2807 401 18 a a DET taxlaw-2807 401 19 considerably considerably ADV taxlaw-2807 401 20 smaller small ADJ taxlaw-2807 401 21 percentage percentage NOUN taxlaw-2807 401 22 of of ADP taxlaw-2807 401 23 affluent affluent ADJ taxlaw-2807 401 24 individuals individual NOUN taxlaw-2807 401 25 ’ ' PUNCT taxlaw-2807 401 26 assets.114 assets.114 VERB taxlaw-2807 401 27 the the DET taxlaw-2807 401 28 fourth fourth ADJ taxlaw-2807 401 29 subpart subpart NOUN taxlaw-2807 401 30 replies reply NOUN taxlaw-2807 401 31 to to ADP taxlaw-2807 401 32 the the DET taxlaw-2807 401 33 109 109 NUM taxlaw-2807 401 34 advocates advocate NOUN taxlaw-2807 401 35 of of ADP taxlaw-2807 401 36 the the DET taxlaw-2807 401 37 consumption consumption NOUN taxlaw-2807 401 38 tax tax NOUN taxlaw-2807 401 39 recognize recognize VERB taxlaw-2807 401 40 that that SCONJ taxlaw-2807 401 41 exempting exempt VERB taxlaw-2807 401 42 the the DET taxlaw-2807 401 43 yields yield NOUN taxlaw-2807 401 44 for for ADP taxlaw-2807 401 45 saving saving NOUN taxlaw-2807 401 46 and and CCONJ taxlaw-2807 401 47 investment investment NOUN taxlaw-2807 401 48 would would AUX taxlaw-2807 401 49 have have VERB taxlaw-2807 401 50 a a DET taxlaw-2807 401 51 somewhat somewhat ADV taxlaw-2807 401 52 regressive regressive ADJ taxlaw-2807 401 53 impact impact NOUN taxlaw-2807 401 54 but but CCONJ taxlaw-2807 401 55 argue argue VERB taxlaw-2807 401 56 that that SCONJ taxlaw-2807 401 57 all all DET taxlaw-2807 401 58 distributional distributional ADJ taxlaw-2807 401 59 and and CCONJ taxlaw-2807 401 60 revenue revenue NOUN taxlaw-2807 401 61 effects effect NOUN taxlaw-2807 401 62 of of ADP taxlaw-2807 401 63 the the DET taxlaw-2807 401 64 exemption exemption NOUN taxlaw-2807 401 65 could could AUX taxlaw-2807 401 66 be be AUX taxlaw-2807 401 67 corrected correct VERB taxlaw-2807 401 68 through through ADP taxlaw-2807 401 69 higher high ADJ taxlaw-2807 401 70 marginal marginal ADJ taxlaw-2807 401 71 tax tax NOUN taxlaw-2807 401 72 rates rate NOUN taxlaw-2807 401 73 . . PUNCT taxlaw-2807 402 1 bankman bankman NOUN taxlaw-2807 402 2 & & CCONJ taxlaw-2807 402 3 weisbach weisbach NOUN taxlaw-2807 402 4 , , PUNCT taxlaw-2807 402 5 supra supra ADJ taxlaw-2807 402 6 note note NOUN taxlaw-2807 402 7 7 7 NUM taxlaw-2807 402 8 , , PUNCT taxlaw-2807 402 9 at at ADP taxlaw-2807 402 10 791–94 791–94 NOUN taxlaw-2807 402 11 . . PUNCT taxlaw-2807 403 1 the the DET taxlaw-2807 403 2 notion notion NOUN taxlaw-2807 403 3 that that SCONJ taxlaw-2807 403 4 a a DET taxlaw-2807 403 5 consumption consumption NOUN taxlaw-2807 403 6 tax tax NOUN taxlaw-2807 403 7 system system NOUN taxlaw-2807 403 8 could could AUX taxlaw-2807 403 9 be be AUX taxlaw-2807 403 10 completely completely ADV taxlaw-2807 403 11 revenue revenue NOUN taxlaw-2807 403 12 and and CCONJ taxlaw-2807 403 13 distributionally distributionally ADV taxlaw-2807 403 14 neutral neutral ADJ taxlaw-2807 403 15 has have AUX taxlaw-2807 403 16 been be AUX taxlaw-2807 403 17 convincingly convincingly ADV taxlaw-2807 403 18 challenged challenge VERB taxlaw-2807 403 19 . . PUNCT taxlaw-2807 404 1 daniel daniel PROPN taxlaw-2807 404 2 halperin halperin PROPN taxlaw-2807 404 3 , , PUNCT taxlaw-2807 404 4 concluding conclude VERB taxlaw-2807 404 5 comment comment NOUN taxlaw-2807 404 6 , , PUNCT taxlaw-2807 404 7 in in ADP taxlaw-2807 404 8 taxing tax VERB taxlaw-2807 404 9 capital capital NOUN taxlaw-2807 404 10 income income NOUN taxlaw-2807 404 11 , , PUNCT taxlaw-2807 404 12 supra supra PROPN taxlaw-2807 404 13 note note NOUN taxlaw-2807 404 14 70 70 NUM taxlaw-2807 404 15 , , PUNCT taxlaw-2807 404 16 at at ADP taxlaw-2807 404 17 309 309 NUM taxlaw-2807 404 18 , , PUNCT taxlaw-2807 404 19 310–11 310–11 NUM taxlaw-2807 404 20 ; ; PUNCT taxlaw-2807 404 21 sanchirico sanchirico NOUN taxlaw-2807 404 22 , , PUNCT taxlaw-2807 404 23 supra supra NOUN taxlaw-2807 404 24 note note NOUN taxlaw-2807 404 25 6 6 NUM taxlaw-2807 404 26 . . NOUN taxlaw-2807 404 27 110 110 NUM taxlaw-2807 404 28 see see VERB taxlaw-2807 404 29 analysis analysis NOUN taxlaw-2807 404 30 supra supra PROPN taxlaw-2807 404 31 part part PROPN taxlaw-2807 404 32 i.a i.a PROPN taxlaw-2807 404 33 . . PROPN taxlaw-2807 404 34 111 111 NUM taxlaw-2807 404 35 see see NOUN taxlaw-2807 404 36 infra infra NOUN taxlaw-2807 404 37 note note VERB taxlaw-2807 404 38 162 162 NUM taxlaw-2807 404 39 . . PUNCT taxlaw-2807 405 1 112 112 NUM taxlaw-2807 405 2 see see VERB taxlaw-2807 405 3 infra infra NOUN taxlaw-2807 405 4 notes note VERB taxlaw-2807 405 5 156–163 156–163 NUM taxlaw-2807 405 6 and and CCONJ taxlaw-2807 405 7 accompanying accompany VERB taxlaw-2807 405 8 text text NOUN taxlaw-2807 405 9 . . PUNCT taxlaw-2807 406 1 113 113 NUM taxlaw-2807 406 2 see see VERB taxlaw-2807 406 3 infra infra NOUN taxlaw-2807 406 4 notes note VERB taxlaw-2807 406 5 167–170 167–170 NUM taxlaw-2807 406 6 and and CCONJ taxlaw-2807 406 7 accompanying accompany VERB taxlaw-2807 406 8 text text NOUN taxlaw-2807 406 9 . . PUNCT taxlaw-2807 407 1 114 114 NUM taxlaw-2807 407 2 arthur arthur PROPN taxlaw-2807 407 3 b. b. PROPN taxlaw-2807 407 4 kennickell kennickell PROPN taxlaw-2807 407 5 , , PUNCT taxlaw-2807 407 6 a a DET taxlaw-2807 407 7 rolling rolling ADJ taxlaw-2807 407 8 tide tide NOUN taxlaw-2807 407 9 : : PUNCT taxlaw-2807 407 10 changes change NOUN taxlaw-2807 407 11 in in ADP taxlaw-2807 407 12 the the DET taxlaw-2807 407 13 distribution distribution NOUN taxlaw-2807 407 14 of of ADP taxlaw-2807 407 15 wealth wealth NOUN taxlaw-2807 407 16 in in ADP taxlaw-2807 407 17 the the DET taxlaw-2807 407 18 us us PROPN taxlaw-2807 407 19 , , PUNCT taxlaw-2807 407 20 1989 1989 NUM taxlaw-2807 407 21 – – PUNCT taxlaw-2807 407 22 2001 2001 NUM taxlaw-2807 407 23 , , PUNCT taxlaw-2807 407 24 in in ADP taxlaw-2807 407 25 int’l int’l NUM taxlaw-2807 407 26 perspectives perspective NOUN taxlaw-2807 407 27 on on ADP taxlaw-2807 407 28 household household NOUN taxlaw-2807 407 29 wealth wealth NOUN taxlaw-2807 407 30 19 19 NUM taxlaw-2807 407 31 , , PUNCT taxlaw-2807 407 32 53–54 53–54 NUM taxlaw-2807 407 33 ( ( PUNCT taxlaw-2807 407 34 edward edward PROPN taxlaw-2807 407 35 n. n. PROPN taxlaw-2807 407 36 wolff wolff PROPN taxlaw-2807 407 37 ed ed NOUN taxlaw-2807 407 38 . . PROPN taxlaw-2807 407 39 , , PUNCT taxlaw-2807 407 40 2006 2006 NUM taxlaw-2807 407 41 ) ) PUNCT taxlaw-2807 407 42 ( ( PUNCT taxlaw-2807 407 43 showing show VERB taxlaw-2807 407 44 the the DET taxlaw-2807 407 45 distribution distribution NOUN taxlaw-2807 407 46 of of ADP taxlaw-2807 407 47 assets asset NOUN taxlaw-2807 407 48 by by ADP taxlaw-2807 407 49 personal personal ADJ taxlaw-2807 407 50 wealth wealth NOUN taxlaw-2807 407 51 in in ADP taxlaw-2807 407 52 2001 2001 NUM taxlaw-2807 407 53 : : PUNCT taxlaw-2807 407 54 while while SCONJ taxlaw-2807 407 55 personal personal ADJ taxlaw-2807 407 56 assets asset NOUN taxlaw-2807 407 57 consisted consist VERB taxlaw-2807 407 58 of of ADP taxlaw-2807 407 59 78 78 NUM taxlaw-2807 407 60 % % NOUN taxlaw-2807 407 61 of of ADP taxlaw-2807 407 62 total total ADJ taxlaw-2807 407 63 assets asset NOUN taxlaw-2807 407 64 held hold VERB taxlaw-2807 407 65 62 62 NUM taxlaw-2807 407 66 columbia columbia PROPN taxlaw-2807 407 67 journal journal PROPN taxlaw-2807 407 68 of of ADP taxlaw-2807 407 69 tax tax NOUN taxlaw-2807 407 70 law law NOUN taxlaw-2807 408 1 [ [ X taxlaw-2807 408 2 vol.3:43 vol.3:43 PROPN taxlaw-2807 408 3 major major ADJ taxlaw-2807 408 4 potential potential ADJ taxlaw-2807 408 5 criticisms criticism NOUN taxlaw-2807 408 6 of of ADP taxlaw-2807 408 7 our our PRON taxlaw-2807 408 8 approach approach NOUN taxlaw-2807 408 9 . . PUNCT taxlaw-2807 409 1 it it PRON taxlaw-2807 409 2 argues argue VERB taxlaw-2807 409 3 that that SCONJ taxlaw-2807 409 4 making make VERB taxlaw-2807 409 5 the the DET taxlaw-2807 409 6 income income NOUN taxlaw-2807 409 7 tax tax NOUN taxlaw-2807 409 8 base base NOUN taxlaw-2807 409 9 more more ADV taxlaw-2807 409 10 progressive progressive ADJ taxlaw-2807 409 11 by by ADP taxlaw-2807 409 12 applying apply VERB taxlaw-2807 409 13 the the DET taxlaw-2807 409 14 realization realization NOUN taxlaw-2807 409 15 requirement requirement NOUN taxlaw-2807 409 16 to to ADP taxlaw-2807 409 17 personal personal ADJ taxlaw-2807 409 18 assets asset NOUN taxlaw-2807 409 19 has have VERB taxlaw-2807 409 20 some some DET taxlaw-2807 409 21 significant significant ADJ taxlaw-2807 409 22 advantages advantage NOUN taxlaw-2807 409 23 over over ADP taxlaw-2807 409 24 other other ADJ taxlaw-2807 409 25 means mean NOUN taxlaw-2807 409 26 of of ADP taxlaw-2807 409 27 promoting promote VERB taxlaw-2807 409 28 tax tax NOUN taxlaw-2807 409 29 progressivity progressivity NOUN taxlaw-2807 409 30 . . PUNCT taxlaw-2807 410 1 a. a. NOUN taxlaw-2807 410 2 tax tax NOUN taxlaw-2807 410 3 and and CCONJ taxlaw-2807 410 4 redistribution redistribution NOUN taxlaw-2807 410 5 : : PUNCT taxlaw-2807 410 6 at at ADP taxlaw-2807 410 7 the the DET taxlaw-2807 410 8 crossroads crossroad NOUN taxlaw-2807 410 9 of of ADP taxlaw-2807 410 10 philosophy philosophy NOUN taxlaw-2807 410 11 and and CCONJ taxlaw-2807 410 12 public public ADJ taxlaw-2807 410 13 finance finance NOUN taxlaw-2807 410 14 it it PRON taxlaw-2807 410 15 is be AUX taxlaw-2807 410 16 necessary necessary ADJ taxlaw-2807 410 17 to to PART taxlaw-2807 410 18 clarify clarify VERB taxlaw-2807 410 19 the the DET taxlaw-2807 410 20 scope scope NOUN taxlaw-2807 410 21 of of ADP taxlaw-2807 410 22 this this DET taxlaw-2807 410 23 article article NOUN taxlaw-2807 410 24 because because SCONJ taxlaw-2807 410 25 questions question NOUN taxlaw-2807 410 26 of of ADP taxlaw-2807 410 27 redistribution redistribution NOUN taxlaw-2807 410 28 involve involve VERB taxlaw-2807 410 29 complicated complicated ADJ taxlaw-2807 410 30 notions notion NOUN taxlaw-2807 410 31 of of ADP taxlaw-2807 410 32 philosophy philosophy NOUN taxlaw-2807 410 33 and and CCONJ taxlaw-2807 410 34 public public ADJ taxlaw-2807 410 35 finance finance NOUN taxlaw-2807 410 36 . . PUNCT taxlaw-2807 411 1 any any DET taxlaw-2807 411 2 type type NOUN taxlaw-2807 411 3 of of ADP taxlaw-2807 411 4 redistributive redistributive ADJ taxlaw-2807 411 5 regime regime NOUN taxlaw-2807 411 6 is be AUX taxlaw-2807 411 7 based base VERB taxlaw-2807 411 8 on on ADP taxlaw-2807 411 9 two two NUM taxlaw-2807 411 10 fundamental fundamental ADJ taxlaw-2807 411 11 policy policy NOUN taxlaw-2807 411 12 decisions decision NOUN taxlaw-2807 411 13 : : PUNCT taxlaw-2807 411 14 what what PRON taxlaw-2807 411 15 should should AUX taxlaw-2807 411 16 be be AUX taxlaw-2807 411 17 distributed distribute VERB taxlaw-2807 411 18 and and CCONJ taxlaw-2807 411 19 how how SCONJ taxlaw-2807 411 20 it it PRON taxlaw-2807 411 21 should should AUX taxlaw-2807 411 22 be be AUX taxlaw-2807 411 23 measured measure VERB taxlaw-2807 411 24 by by ADP taxlaw-2807 411 25 the the DET taxlaw-2807 411 26 tax tax NOUN taxlaw-2807 411 27 regime regime NOUN taxlaw-2807 411 28 . . PUNCT taxlaw-2807 412 1 the the DET taxlaw-2807 412 2 two two NUM taxlaw-2807 412 3 are be AUX taxlaw-2807 412 4 obviously obviously ADV taxlaw-2807 412 5 related relate VERB taxlaw-2807 412 6 , , PUNCT taxlaw-2807 412 7 with with ADP taxlaw-2807 412 8 the the DET taxlaw-2807 412 9 latter latter ADJ taxlaw-2807 412 10 becoming become VERB taxlaw-2807 412 11 virtually virtually ADV taxlaw-2807 412 12 impossible impossible ADJ taxlaw-2807 412 13 to to PART taxlaw-2807 412 14 directly directly ADV taxlaw-2807 412 15 address address VERB taxlaw-2807 412 16 when when SCONJ taxlaw-2807 412 17 the the DET taxlaw-2807 412 18 currency currency NOUN taxlaw-2807 412 19 of of ADP taxlaw-2807 412 20 justice justice NOUN taxlaw-2807 412 21 ( ( PUNCT taxlaw-2807 412 22 i.e. i.e. X taxlaw-2807 412 23 , , PUNCT taxlaw-2807 412 24 what what PRON taxlaw-2807 412 25 should should AUX taxlaw-2807 412 26 be be AUX taxlaw-2807 412 27 distributed distribute VERB taxlaw-2807 412 28 ) ) PUNCT taxlaw-2807 412 29 is be AUX taxlaw-2807 412 30 intangible intangible ADJ taxlaw-2807 412 31 and and CCONJ taxlaw-2807 412 32 difficult difficult ADJ taxlaw-2807 412 33 to to PART taxlaw-2807 412 34 observe observe VERB taxlaw-2807 412 35 ( ( PUNCT taxlaw-2807 412 36 e.g. e.g. ADV taxlaw-2807 412 37 , , PUNCT taxlaw-2807 412 38 utility utility NOUN taxlaw-2807 412 39 ) ) PUNCT taxlaw-2807 412 40 . . PUNCT taxlaw-2807 413 1 hence hence ADV taxlaw-2807 413 2 , , PUNCT taxlaw-2807 413 3 policymakers policymaker NOUN taxlaw-2807 413 4 have have VERB taxlaw-2807 413 5 to to PART taxlaw-2807 413 6 rely rely VERB taxlaw-2807 413 7 on on ADP taxlaw-2807 413 8 proxies proxy NOUN taxlaw-2807 413 9 rather rather ADV taxlaw-2807 413 10 than than ADP taxlaw-2807 413 11 try try VERB taxlaw-2807 413 12 to to PART taxlaw-2807 413 13 measure measure VERB taxlaw-2807 413 14 the the DET taxlaw-2807 413 15 currency currency NOUN taxlaw-2807 413 16 of of ADP taxlaw-2807 413 17 justice justice NOUN taxlaw-2807 413 18 directly.115 directly.115 PROPN taxlaw-2807 413 19 unsurprisingly unsurprisingly ADV taxlaw-2807 413 20 , , PUNCT taxlaw-2807 413 21 there there PRON taxlaw-2807 413 22 is be VERB taxlaw-2807 413 23 strong strong ADJ taxlaw-2807 413 24 disagreement disagreement NOUN taxlaw-2807 413 25 among among ADP taxlaw-2807 413 26 scholars scholar NOUN taxlaw-2807 413 27 about about ADP taxlaw-2807 413 28 the the DET taxlaw-2807 413 29 proper proper ADJ taxlaw-2807 413 30 distributive distributive ADJ taxlaw-2807 413 31 justice justice NOUN taxlaw-2807 413 32 benchmark benchmark NOUN taxlaw-2807 413 33 for for ADP taxlaw-2807 413 34 measuring measure VERB taxlaw-2807 413 35 and and CCONJ taxlaw-2807 413 36 remedying remedy VERB taxlaw-2807 413 37 disadvantages disadvantage NOUN taxlaw-2807 413 38 . . PUNCT taxlaw-2807 414 1 political political ADJ taxlaw-2807 414 2 philosophers philosopher NOUN taxlaw-2807 414 3 have have AUX taxlaw-2807 414 4 suggested suggest VERB taxlaw-2807 414 5 a a DET taxlaw-2807 414 6 number number NOUN taxlaw-2807 414 7 of of ADP taxlaw-2807 414 8 such such ADJ taxlaw-2807 414 9 “ " PUNCT taxlaw-2807 414 10 currencies currency NOUN taxlaw-2807 414 11 ” " PUNCT taxlaw-2807 414 12 through through ADP taxlaw-2807 414 13 which which PRON taxlaw-2807 414 14 well well ADV taxlaw-2807 414 15 - - PUNCT taxlaw-2807 414 16 being being NOUN taxlaw-2807 414 17 should should AUX taxlaw-2807 414 18 be be AUX taxlaw-2807 414 19 measured measure VERB taxlaw-2807 414 20 , , PUNCT taxlaw-2807 414 21 including include VERB taxlaw-2807 414 22 opportunities,116 opportunities,116 ADJ taxlaw-2807 414 23 primary primary ADJ taxlaw-2807 414 24 goods,117 goods,117 PROPN taxlaw-2807 414 25 and and CCONJ taxlaw-2807 414 26 capabilities.118 capabilities.118 VERB taxlaw-2807 414 27 even even ADV taxlaw-2807 414 28 though though SCONJ taxlaw-2807 414 29 this this DET taxlaw-2807 414 30 article article NOUN taxlaw-2807 414 31 can can AUX taxlaw-2807 414 32 not not PART taxlaw-2807 414 33 resolve resolve VERB taxlaw-2807 414 34 this this DET taxlaw-2807 414 35 question question NOUN taxlaw-2807 414 36 , , PUNCT taxlaw-2807 414 37 it it PRON taxlaw-2807 414 38 adopts adopt VERB taxlaw-2807 414 39 the the DET taxlaw-2807 414 40 terminology terminology NOUN taxlaw-2807 414 41 of of ADP taxlaw-2807 414 42 the the DET taxlaw-2807 414 43 literature literature NOUN taxlaw-2807 414 44 that that PRON taxlaw-2807 414 45 focuses focus VERB taxlaw-2807 414 46 on on ADP taxlaw-2807 414 47 the the DET taxlaw-2807 414 48 distribution distribution NOUN taxlaw-2807 414 49 of of ADP taxlaw-2807 414 50 welfare welfare NOUN taxlaw-2807 414 51 as as ADP taxlaw-2807 414 52 a a DET taxlaw-2807 414 53 subjective subjective ADJ taxlaw-2807 414 54 measurement measurement NOUN taxlaw-2807 414 55 of of ADP taxlaw-2807 414 56 wellbeing.119 wellbeing.119 NUM taxlaw-2807 414 57 it it PRON taxlaw-2807 414 58 does do VERB taxlaw-2807 414 59 so so ADV taxlaw-2807 414 60 because because SCONJ taxlaw-2807 414 61 the the DET taxlaw-2807 414 62 welfarist welfarist NOUN taxlaw-2807 414 63 terminology terminology NOUN taxlaw-2807 414 64 is be AUX taxlaw-2807 414 65 consistent consistent ADJ taxlaw-2807 414 66 with with ADP taxlaw-2807 414 67 most most ADJ taxlaw-2807 414 68 of of ADP taxlaw-2807 414 69 the the DET taxlaw-2807 414 70 tax tax NOUN taxlaw-2807 414 71 literature.120 literature.120 NOUN taxlaw-2807 414 72 when when SCONJ taxlaw-2807 414 73 policymakers policymaker NOUN taxlaw-2807 414 74 wish wish VERB taxlaw-2807 414 75 to to PART taxlaw-2807 414 76 formulate formulate VERB taxlaw-2807 414 77 an an DET taxlaw-2807 414 78 effective effective ADJ taxlaw-2807 414 79 distributive distributive ADJ taxlaw-2807 414 80 scheme scheme NOUN taxlaw-2807 414 81 , , PUNCT taxlaw-2807 414 82 there there PRON taxlaw-2807 414 83 is be VERB taxlaw-2807 414 84 an an DET taxlaw-2807 414 85 obvious obvious ADJ taxlaw-2807 414 86 mismatch mismatch NOUN taxlaw-2807 414 87 between between ADP taxlaw-2807 414 88 what what PRON taxlaw-2807 414 89 they they PRON taxlaw-2807 414 90 seek seek VERB taxlaw-2807 414 91 to to PART taxlaw-2807 414 92 redistribute redistribute VERB taxlaw-2807 414 93 ( ( PUNCT taxlaw-2807 414 94 e.g. e.g. ADV taxlaw-2807 414 95 , , PUNCT taxlaw-2807 414 96 welfare welfare NOUN taxlaw-2807 414 97 ) ) PUNCT taxlaw-2807 414 98 and and CCONJ taxlaw-2807 414 99 what what PRON taxlaw-2807 414 100 they they PRON taxlaw-2807 414 101 are be AUX taxlaw-2807 414 102 actually actually ADV taxlaw-2807 414 103 measuring measure VERB taxlaw-2807 414 104 , , PUNCT taxlaw-2807 414 105 taxing tax VERB taxlaw-2807 414 106 , , PUNCT taxlaw-2807 414 107 and and CCONJ taxlaw-2807 414 108 distributing distribute VERB taxlaw-2807 414 109 ( ( PUNCT taxlaw-2807 414 110 e.g. e.g. ADV taxlaw-2807 414 111 , , PUNCT taxlaw-2807 414 112 income income NOUN taxlaw-2807 414 113 ) ) PUNCT taxlaw-2807 414 114 . . PUNCT taxlaw-2807 415 1 hence hence ADV taxlaw-2807 415 2 , , PUNCT taxlaw-2807 415 3 the the DET taxlaw-2807 415 4 current current ADJ taxlaw-2807 415 5 income income NOUN taxlaw-2807 415 6 tax tax NOUN taxlaw-2807 415 7 regime regime NOUN taxlaw-2807 415 8 is be AUX taxlaw-2807 415 9 a a DET taxlaw-2807 415 10 result result NOUN taxlaw-2807 415 11 of of ADP taxlaw-2807 415 12 the the DET taxlaw-2807 415 13 difficulty difficulty NOUN taxlaw-2807 415 14 of of ADP taxlaw-2807 415 15 directly directly ADV taxlaw-2807 415 16 observing observe VERB taxlaw-2807 415 17 how how SCONJ taxlaw-2807 415 18 much much ADJ taxlaw-2807 415 19 economic economic ADJ taxlaw-2807 415 20 wellbeing wellbeing NOUN taxlaw-2807 415 21 ( ( PUNCT taxlaw-2807 415 22 e.g. e.g. ADV taxlaw-2807 415 23 , , PUNCT taxlaw-2807 415 24 in in ADP taxlaw-2807 415 25 terms term NOUN taxlaw-2807 415 26 of of ADP taxlaw-2807 415 27 welfare welfare NOUN taxlaw-2807 415 28 ) ) PUNCT taxlaw-2807 415 29 individuals individual NOUN taxlaw-2807 415 30 have have VERB taxlaw-2807 415 31 and and CCONJ taxlaw-2807 415 32 of of ADP taxlaw-2807 415 33 the the DET taxlaw-2807 415 34 belief belief NOUN taxlaw-2807 415 35 that that SCONJ taxlaw-2807 415 36 income income NOUN taxlaw-2807 415 37 is be AUX taxlaw-2807 415 38 considered consider VERB taxlaw-2807 415 39 a a DET taxlaw-2807 415 40 good good ADJ taxlaw-2807 415 41 proxy proxy NOUN taxlaw-2807 415 42 for for ADP taxlaw-2807 415 43 economic economic ADJ taxlaw-2807 415 44 well well NOUN taxlaw-2807 415 45 - - PUNCT taxlaw-2807 415 46 being being NOUN taxlaw-2807 415 47 . . PUNCT taxlaw-2807 416 1 by by ADP taxlaw-2807 416 2 households household NOUN taxlaw-2807 416 3 in in ADP taxlaw-2807 416 4 the the DET taxlaw-2807 416 5 bottom bottom ADJ taxlaw-2807 416 6 half half NOUN taxlaw-2807 416 7 of of ADP taxlaw-2807 416 8 the the DET taxlaw-2807 416 9 wealth wealth NOUN taxlaw-2807 416 10 distribution distribution NOUN taxlaw-2807 416 11 , , PUNCT taxlaw-2807 416 12 they they PRON taxlaw-2807 416 13 comprised comprise VERB taxlaw-2807 416 14 only only ADV taxlaw-2807 416 15 about about ADV taxlaw-2807 416 16 10 10 NUM taxlaw-2807 416 17 % % NOUN taxlaw-2807 416 18 of of ADP taxlaw-2807 416 19 the the DET taxlaw-2807 416 20 total total ADJ taxlaw-2807 416 21 wealth wealth NOUN taxlaw-2807 416 22 of of ADP taxlaw-2807 416 23 the the DET taxlaw-2807 416 24 top top ADJ taxlaw-2807 416 25 1 1 NUM taxlaw-2807 416 26 % % NOUN taxlaw-2807 416 27 of of ADP taxlaw-2807 416 28 households household NOUN taxlaw-2807 416 29 ) ) PUNCT taxlaw-2807 416 30 . . PUNCT taxlaw-2807 417 1 115 115 NUM taxlaw-2807 417 2 daniel daniel PROPN taxlaw-2807 417 3 n. n. PROPN taxlaw-2807 417 4 shaviro shaviro PROPN taxlaw-2807 417 5 , , PUNCT taxlaw-2807 417 6 inequality inequality NOUN taxlaw-2807 417 7 , , PUNCT taxlaw-2807 417 8 wealth wealth NOUN taxlaw-2807 417 9 , , PUNCT taxlaw-2807 417 10 and and CCONJ taxlaw-2807 417 11 endowment endowment NOUN taxlaw-2807 417 12 , , PUNCT taxlaw-2807 417 13 53 53 NUM taxlaw-2807 417 14 tax tax NOUN taxlaw-2807 417 15 l. l. PROPN taxlaw-2807 417 16 rev rev PROPN taxlaw-2807 417 17 . . PROPN taxlaw-2807 417 18 397 397 NUM taxlaw-2807 417 19 , , PUNCT taxlaw-2807 417 20 398–403 398–403 NUM taxlaw-2807 417 21 ( ( PUNCT taxlaw-2807 417 22 2000 2000 NUM taxlaw-2807 417 23 ) ) PUNCT taxlaw-2807 417 24 . . PUNCT taxlaw-2807 418 1 116 116 NUM taxlaw-2807 418 2 see see VERB taxlaw-2807 418 3 generally generally ADV taxlaw-2807 418 4 ronald ronald PROPN taxlaw-2807 418 5 dworkin dworkin PROPN taxlaw-2807 418 6 , , PUNCT taxlaw-2807 418 7 what what PRON taxlaw-2807 418 8 is be AUX taxlaw-2807 418 9 equality equality NOUN taxlaw-2807 418 10 ? ? PUNCT taxlaw-2807 419 1 part part NOUN taxlaw-2807 419 2 2 2 NUM taxlaw-2807 419 3 : : PUNCT taxlaw-2807 419 4 equality equality NOUN taxlaw-2807 419 5 of of ADP taxlaw-2807 419 6 resources resource NOUN taxlaw-2807 419 7 , , PUNCT taxlaw-2807 419 8 10 10 NUM taxlaw-2807 419 9 phil phil NOUN taxlaw-2807 419 10 . . PUNCT taxlaw-2807 420 1 & & CCONJ taxlaw-2807 420 2 pub pub PROPN taxlaw-2807 420 3 . . PUNCT taxlaw-2807 421 1 aff aff PROPN taxlaw-2807 421 2 . . PROPN taxlaw-2807 422 1 283 283 NUM taxlaw-2807 422 2 ( ( PUNCT taxlaw-2807 422 3 1981 1981 NUM taxlaw-2807 422 4 ) ) PUNCT taxlaw-2807 422 5 ( ( PUNCT taxlaw-2807 422 6 providing provide VERB taxlaw-2807 422 7 leading lead VERB taxlaw-2807 422 8 article article NOUN taxlaw-2807 422 9 on on ADP taxlaw-2807 422 10 equality equality NOUN taxlaw-2807 422 11 of of ADP taxlaw-2807 422 12 resources resource NOUN taxlaw-2807 422 13 ) ) PUNCT taxlaw-2807 422 14 . . PUNCT taxlaw-2807 423 1 117 117 NUM taxlaw-2807 423 2 see see VERB taxlaw-2807 423 3 john john PROPN taxlaw-2807 423 4 rawls rawl VERB taxlaw-2807 423 5 , , PUNCT taxlaw-2807 423 6 a a DET taxlaw-2807 423 7 theory theory NOUN taxlaw-2807 423 8 of of ADP taxlaw-2807 423 9 justice justice NOUN taxlaw-2807 423 10 54 54 NUM taxlaw-2807 423 11 ( ( PUNCT taxlaw-2807 423 12 1999 1999 NUM taxlaw-2807 423 13 ) ) PUNCT taxlaw-2807 423 14 ( ( PUNCT taxlaw-2807 423 15 arguing argue VERB taxlaw-2807 423 16 that that SCONJ taxlaw-2807 423 17 justice justice NOUN taxlaw-2807 423 18 requires require VERB taxlaw-2807 423 19 equal equal ADJ taxlaw-2807 423 20 distribution distribution NOUN taxlaw-2807 423 21 of of ADP taxlaw-2807 423 22 primary primary ADJ taxlaw-2807 423 23 goods good NOUN taxlaw-2807 423 24 such such ADJ taxlaw-2807 423 25 as as ADP taxlaw-2807 423 26 rights right NOUN taxlaw-2807 423 27 , , PUNCT taxlaw-2807 423 28 liberties liberty NOUN taxlaw-2807 423 29 , , PUNCT taxlaw-2807 423 30 income income NOUN taxlaw-2807 423 31 , , PUNCT taxlaw-2807 423 32 and and CCONJ taxlaw-2807 423 33 wealth wealth NOUN taxlaw-2807 423 34 ) ) PUNCT taxlaw-2807 423 35 . . PUNCT taxlaw-2807 424 1 118 118 NUM taxlaw-2807 424 2 for for ADP taxlaw-2807 424 3 the the DET taxlaw-2807 424 4 leading lead VERB taxlaw-2807 424 5 texts text NOUN taxlaw-2807 424 6 on on ADP taxlaw-2807 424 7 capabilities capability NOUN taxlaw-2807 424 8 , , PUNCT taxlaw-2807 424 9 see see VERB taxlaw-2807 424 10 generally generally ADV taxlaw-2807 424 11 martha martha PROPN taxlaw-2807 424 12 c. c. PROPN taxlaw-2807 424 13 nussbaum nussbaum PROPN taxlaw-2807 424 14 , , PUNCT taxlaw-2807 424 15 frontiers frontier NOUN taxlaw-2807 424 16 of of ADP taxlaw-2807 424 17 justice justice NOUN taxlaw-2807 424 18 : : PUNCT taxlaw-2807 424 19 disability disability NOUN taxlaw-2807 424 20 , , PUNCT taxlaw-2807 424 21 nationality nationality NOUN taxlaw-2807 424 22 , , PUNCT taxlaw-2807 424 23 species species NOUN taxlaw-2807 424 24 membership membership NOUN taxlaw-2807 424 25 ( ( PUNCT taxlaw-2807 424 26 2006 2006 NUM taxlaw-2807 424 27 ) ) PUNCT taxlaw-2807 424 28 ; ; PUNCT taxlaw-2807 424 29 amartya amartya NOUN taxlaw-2807 424 30 sen sen PROPN taxlaw-2807 424 31 , , PUNCT taxlaw-2807 424 32 development development NOUN taxlaw-2807 424 33 as as ADP taxlaw-2807 424 34 freedom freedom NOUN taxlaw-2807 424 35 ( ( PUNCT taxlaw-2807 424 36 1999 1999 NUM taxlaw-2807 424 37 ) ) PUNCT taxlaw-2807 424 38 . . PUNCT taxlaw-2807 425 1 119 119 NUM taxlaw-2807 425 2 welfarism welfarism NOUN taxlaw-2807 425 3 evaluates evaluate VERB taxlaw-2807 425 4 social social ADJ taxlaw-2807 425 5 choices choice NOUN taxlaw-2807 425 6 solely solely ADV taxlaw-2807 425 7 according accord VERB taxlaw-2807 425 8 to to ADP taxlaw-2807 425 9 how how SCONJ taxlaw-2807 425 10 they they PRON taxlaw-2807 425 11 affect affect VERB taxlaw-2807 425 12 the the DET taxlaw-2807 425 13 well well ADV taxlaw-2807 425 14 - - PUNCT taxlaw-2807 425 15 being being NOUN taxlaw-2807 425 16 of of ADP taxlaw-2807 425 17 society society NOUN taxlaw-2807 425 18 ’s ’s PART taxlaw-2807 425 19 members member NOUN taxlaw-2807 425 20 . . PUNCT taxlaw-2807 426 1 matthew matthew PROPN taxlaw-2807 426 2 d. d. PROPN taxlaw-2807 426 3 adler adler PROPN taxlaw-2807 426 4 & & CCONJ taxlaw-2807 426 5 chris chris PROPN taxlaw-2807 426 6 william william PROPN taxlaw-2807 426 7 sanchirico sanchirico PROPN taxlaw-2807 426 8 , , PUNCT taxlaw-2807 426 9 inequality inequality NOUN taxlaw-2807 426 10 and and CCONJ taxlaw-2807 426 11 uncertainty uncertainty NOUN taxlaw-2807 426 12 : : PUNCT taxlaw-2807 426 13 theory theory NOUN taxlaw-2807 426 14 and and CCONJ taxlaw-2807 426 15 legal legal ADJ taxlaw-2807 426 16 applications application NOUN taxlaw-2807 426 17 , , PUNCT taxlaw-2807 426 18 155 155 NUM taxlaw-2807 426 19 u. u. PROPN taxlaw-2807 426 20 pa pa PROPN taxlaw-2807 426 21 . . PUNCT taxlaw-2807 426 22 l. l. PROPN taxlaw-2807 426 23 rev rev PROPN taxlaw-2807 426 24 . . PROPN taxlaw-2807 426 25 279 279 NUM taxlaw-2807 426 26 , , PUNCT taxlaw-2807 426 27 282 282 NUM taxlaw-2807 426 28 ( ( PUNCT taxlaw-2807 426 29 2006 2006 NUM taxlaw-2807 426 30 ) ) PUNCT taxlaw-2807 426 31 . . PUNCT taxlaw-2807 427 1 in in ADP taxlaw-2807 427 2 contrast contrast NOUN taxlaw-2807 427 3 to to ADP taxlaw-2807 427 4 utilitarianism utilitarianism NOUN taxlaw-2807 427 5 , , PUNCT taxlaw-2807 427 6 welfarism welfarism NOUN taxlaw-2807 427 7 may may AUX taxlaw-2807 427 8 take take VERB taxlaw-2807 427 9 into into ADP taxlaw-2807 427 10 account account NOUN taxlaw-2807 427 11 inequality inequality NOUN taxlaw-2807 427 12 of of ADP taxlaw-2807 427 13 well well ADV taxlaw-2807 427 14 - - PUNCT taxlaw-2807 427 15 being being NOUN taxlaw-2807 427 16 across across ADP taxlaw-2807 427 17 individuals individual NOUN taxlaw-2807 427 18 . . PUNCT taxlaw-2807 428 1 i i PRON taxlaw-2807 428 2 d. d. PROPN taxlaw-2807 428 3 at at ADP taxlaw-2807 428 4 296–97 296–97 NUM taxlaw-2807 428 5 . . PUNCT taxlaw-2807 429 1 like like ADP taxlaw-2807 429 2 utilitarianism utilitarianism NOUN taxlaw-2807 429 3 , , PUNCT taxlaw-2807 429 4 it it PRON taxlaw-2807 429 5 focuses focus VERB taxlaw-2807 429 6 on on ADP taxlaw-2807 429 7 individual individual ADJ taxlaw-2807 429 8 utility utility NOUN taxlaw-2807 429 9 / / SYM taxlaw-2807 429 10 welfare welfare NOUN taxlaw-2807 429 11 as as ADP taxlaw-2807 429 12 a a DET taxlaw-2807 429 13 measurement measurement NOUN taxlaw-2807 429 14 of of ADP taxlaw-2807 429 15 well well ADV taxlaw-2807 429 16 - - PUNCT taxlaw-2807 429 17 being being NOUN taxlaw-2807 429 18 and and CCONJ taxlaw-2807 429 19 does do AUX taxlaw-2807 429 20 not not PART taxlaw-2807 429 21 take take VERB taxlaw-2807 429 22 into into ADP taxlaw-2807 429 23 consideration consideration NOUN taxlaw-2807 429 24 concepts concept NOUN taxlaw-2807 429 25 of of ADP taxlaw-2807 429 26 “ " PUNCT taxlaw-2807 429 27 rights right NOUN taxlaw-2807 429 28 ” " PUNCT taxlaw-2807 429 29 or or CCONJ taxlaw-2807 429 30 “ " PUNCT taxlaw-2807 429 31 fairness fairness NOUN taxlaw-2807 429 32 . . PUNCT taxlaw-2807 429 33 ” " PUNCT taxlaw-2807 430 1 i i PRON taxlaw-2807 430 2 d. d. PROPN taxlaw-2807 430 3 at at ADP taxlaw-2807 430 4 282 282 NUM taxlaw-2807 430 5 . . PUNCT taxlaw-2807 430 6 120 120 NUM taxlaw-2807 430 7 adler adler PROPN taxlaw-2807 430 8 & & CCONJ taxlaw-2807 430 9 sanchirico sanchirico PROPN taxlaw-2807 430 10 , , PUNCT taxlaw-2807 430 11 supra supra PROPN taxlaw-2807 430 12 note note PROPN taxlaw-2807 430 13 119 119 NUM taxlaw-2807 430 14 , , PUNCT taxlaw-2807 430 15 at at ADP taxlaw-2807 430 16 282–83 282–83 NUM taxlaw-2807 430 17 ; ; PUNCT taxlaw-2807 430 18 louis louis PROPN taxlaw-2807 430 19 kaplow kaplow PROPN taxlaw-2807 430 20 , , PUNCT taxlaw-2807 430 21 the the DET taxlaw-2807 430 22 income income NOUN taxlaw-2807 430 23 tax tax NOUN taxlaw-2807 430 24 versus versus ADP taxlaw-2807 430 25 the the DET taxlaw-2807 430 26 consumption consumption NOUN taxlaw-2807 430 27 tax tax NOUN taxlaw-2807 430 28 and and CCONJ taxlaw-2807 430 29 the the DET taxlaw-2807 430 30 tax tax NOUN taxlaw-2807 430 31 treatment treatment NOUN taxlaw-2807 430 32 of of ADP taxlaw-2807 430 33 human human ADJ taxlaw-2807 430 34 capital capital NOUN taxlaw-2807 430 35 , , PUNCT taxlaw-2807 430 36 51 51 NUM taxlaw-2807 430 37 tax tax NOUN taxlaw-2807 430 38 l. l. PROPN taxlaw-2807 430 39 rev rev PROPN taxlaw-2807 430 40 . . PROPN taxlaw-2807 430 41 35 35 NUM taxlaw-2807 430 42 , , PUNCT taxlaw-2807 430 43 39 39 NUM taxlaw-2807 430 44 ( ( PUNCT taxlaw-2807 430 45 1995 1995 NUM taxlaw-2807 430 46 ) ) PUNCT taxlaw-2807 430 47 ; ; PUNCT taxlaw-2807 430 48 shaviro shaviro VERB taxlaw-2807 430 49 , , PUNCT taxlaw-2807 430 50 supra supra PROPN taxlaw-2807 430 51 note note NOUN taxlaw-2807 430 52 115 115 NUM taxlaw-2807 430 53 , , PUNCT taxlaw-2807 430 54 at at ADP taxlaw-2807 430 55 398–403 398–403 NUM taxlaw-2807 430 56 ; ; PUNCT taxlaw-2807 430 57 david david PROPN taxlaw-2807 430 58 a a DET taxlaw-2807 430 59 weisbach weisbach NOUN taxlaw-2807 430 60 , , PUNCT taxlaw-2807 430 61 a a DET taxlaw-2807 430 62 welfarist welfarist NOUN taxlaw-2807 430 63 approach approach NOUN taxlaw-2807 430 64 to to ADP taxlaw-2807 430 65 disabilities disability NOUN taxlaw-2807 430 66 , , PUNCT taxlaw-2807 430 67 social social ADJ taxlaw-2807 430 68 science science NOUN taxlaw-2807 430 69 research research NOUN taxlaw-2807 430 70 network network NOUN taxlaw-2807 430 71 9 9 NUM taxlaw-2807 430 72 , , PUNCT taxlaw-2807 430 73 43–44 43–44 NUM taxlaw-2807 430 74 ( ( PUNCT taxlaw-2807 430 75 aug aug PROPN taxlaw-2807 430 76 . . PROPN taxlaw-2807 430 77 23 23 NUM taxlaw-2807 430 78 , , PUNCT taxlaw-2807 430 79 2007 2007 NUM taxlaw-2807 430 80 ) ) PUNCT taxlaw-2807 430 81 , , PUNCT taxlaw-2807 430 82 http://ssrn.com/abstract_id=1008985 http://ssrn.com/abstract_id=1008985 NOUN taxlaw-2807 430 83 . . PUNCT taxlaw-2807 431 1 nevertheless nevertheless ADV taxlaw-2807 431 2 , , PUNCT taxlaw-2807 431 3 it it PRON taxlaw-2807 431 4 is be AUX taxlaw-2807 431 5 important important ADJ taxlaw-2807 431 6 to to PART taxlaw-2807 431 7 stress stress VERB taxlaw-2807 431 8 that that SCONJ taxlaw-2807 431 9 this this DET taxlaw-2807 431 10 article article NOUN taxlaw-2807 431 11 ’s ’s PART taxlaw-2807 431 12 analysis analysis NOUN taxlaw-2807 431 13 is be AUX taxlaw-2807 431 14 not not PART taxlaw-2807 431 15 limited limit VERB taxlaw-2807 431 16 to to ADP taxlaw-2807 431 17 the the DET taxlaw-2807 431 18 redistribution redistribution NOUN taxlaw-2807 431 19 of of ADP taxlaw-2807 431 20 welfare welfare NOUN taxlaw-2807 431 21 and and CCONJ taxlaw-2807 431 22 could could AUX taxlaw-2807 431 23 be be AUX taxlaw-2807 431 24 extended extend VERB taxlaw-2807 431 25 to to ADP taxlaw-2807 431 26 other other ADJ taxlaw-2807 431 27 objective objective ADJ taxlaw-2807 431 28 egalitarian egalitarian ADJ taxlaw-2807 431 29 benchmarks benchmark NOUN taxlaw-2807 431 30 . . PUNCT taxlaw-2807 432 1 2011 2011 NUM taxlaw-2807 432 2 ] ] PUNCT taxlaw-2807 432 3 realization realization NOUN taxlaw-2807 432 4 and and CCONJ taxlaw-2807 432 5 progressivity progressivity NOUN taxlaw-2807 432 6 63 63 NUM taxlaw-2807 432 7 this this DET taxlaw-2807 432 8 article article NOUN taxlaw-2807 432 9 considers consider VERB taxlaw-2807 432 10 whether whether SCONJ taxlaw-2807 432 11 the the DET taxlaw-2807 432 12 market market NOUN taxlaw-2807 432 13 prices price NOUN taxlaw-2807 432 14 of of ADP taxlaw-2807 432 15 different different ADJ taxlaw-2807 432 16 assets asset NOUN taxlaw-2807 432 17 are be AUX taxlaw-2807 432 18 good good ADJ taxlaw-2807 432 19 proxies proxy NOUN taxlaw-2807 432 20 for for ADP taxlaw-2807 432 21 economic economic ADJ taxlaw-2807 432 22 well well NOUN taxlaw-2807 432 23 - - PUNCT taxlaw-2807 432 24 being being NOUN taxlaw-2807 432 25 . . PUNCT taxlaw-2807 433 1 from from ADP taxlaw-2807 433 2 a a DET taxlaw-2807 433 3 philosophical philosophical ADJ taxlaw-2807 433 4 perspective perspective NOUN taxlaw-2807 433 5 , , PUNCT taxlaw-2807 433 6 it it PRON taxlaw-2807 433 7 is be AUX taxlaw-2807 433 8 clear clear ADJ taxlaw-2807 433 9 that that SCONJ taxlaw-2807 433 10 there there PRON taxlaw-2807 433 11 can can AUX taxlaw-2807 433 12 be be AUX taxlaw-2807 433 13 many many ADJ taxlaw-2807 433 14 cases case NOUN taxlaw-2807 433 15 in in ADP taxlaw-2807 433 16 which which PRON taxlaw-2807 433 17 the the DET taxlaw-2807 433 18 objective objective ADJ taxlaw-2807 433 19 market market NOUN taxlaw-2807 433 20 price price NOUN taxlaw-2807 433 21 may may AUX taxlaw-2807 433 22 not not PART taxlaw-2807 433 23 provide provide VERB taxlaw-2807 433 24 a a DET taxlaw-2807 433 25 good good ADJ taxlaw-2807 433 26 indicator indicator NOUN taxlaw-2807 433 27 for for ADP taxlaw-2807 433 28 a a DET taxlaw-2807 433 29 subjective subjective ADJ taxlaw-2807 433 30 benchmark benchmark NOUN taxlaw-2807 433 31 such such ADJ taxlaw-2807 433 32 as as ADP taxlaw-2807 433 33 welfare welfare NOUN taxlaw-2807 433 34 . . PUNCT taxlaw-2807 434 1 in in ADP taxlaw-2807 434 2 these these DET taxlaw-2807 434 3 cases case NOUN taxlaw-2807 434 4 , , PUNCT taxlaw-2807 434 5 relying rely VERB taxlaw-2807 434 6 on on ADP taxlaw-2807 434 7 assets asset NOUN taxlaw-2807 434 8 ’ ' PUNCT taxlaw-2807 434 9 market market NOUN taxlaw-2807 434 10 prices price NOUN taxlaw-2807 434 11 for for ADP taxlaw-2807 434 12 tax tax NOUN taxlaw-2807 434 13 purposes purpose NOUN taxlaw-2807 434 14 becomes become VERB taxlaw-2807 434 15 problematic problematic ADJ taxlaw-2807 434 16 because because SCONJ taxlaw-2807 434 17 it it PRON taxlaw-2807 434 18 leads lead VERB taxlaw-2807 434 19 to to ADP taxlaw-2807 434 20 redistributive redistributive ADJ taxlaw-2807 434 21 errors error NOUN taxlaw-2807 434 22 . . PUNCT taxlaw-2807 435 1 this this DET taxlaw-2807 435 2 article article NOUN taxlaw-2807 435 3 ’s ’s PART taxlaw-2807 435 4 analysis analysis NOUN taxlaw-2807 435 5 adopts adopt VERB taxlaw-2807 435 6 a a DET taxlaw-2807 435 7 public public ADJ taxlaw-2807 435 8 finance finance NOUN taxlaw-2807 435 9 , , PUNCT taxlaw-2807 435 10 rather rather ADV taxlaw-2807 435 11 than than ADP taxlaw-2807 435 12 a a DET taxlaw-2807 435 13 philosophical philosophical ADJ taxlaw-2807 435 14 , , PUNCT taxlaw-2807 435 15 approach approach NOUN taxlaw-2807 435 16 to to ADP taxlaw-2807 435 17 this this DET taxlaw-2807 435 18 problem problem NOUN taxlaw-2807 435 19 . . PUNCT taxlaw-2807 436 1 it it PRON taxlaw-2807 436 2 assumes assume VERB taxlaw-2807 436 3 that that SCONJ taxlaw-2807 436 4 if if SCONJ taxlaw-2807 436 5 large large ADJ taxlaw-2807 436 6 - - PUNCT taxlaw-2807 436 7 scale scale NOUN taxlaw-2807 436 8 redistribution redistribution NOUN taxlaw-2807 436 9 is be AUX taxlaw-2807 436 10 warranted warrant VERB taxlaw-2807 436 11 , , PUNCT taxlaw-2807 436 12 making make VERB taxlaw-2807 436 13 some some DET taxlaw-2807 436 14 type type NOUN taxlaw-2807 436 15 of of ADP taxlaw-2807 436 16 assessment assessment NOUN taxlaw-2807 436 17 of of ADP taxlaw-2807 436 18 individuals individual NOUN taxlaw-2807 436 19 ’ ' PUNCT taxlaw-2807 436 20 well well ADV taxlaw-2807 436 21 - - PUNCT taxlaw-2807 436 22 being being NOUN taxlaw-2807 436 23 is be AUX taxlaw-2807 436 24 inevitable inevitable ADJ taxlaw-2807 436 25 . . PUNCT taxlaw-2807 437 1 it it PRON taxlaw-2807 437 2 also also ADV taxlaw-2807 437 3 acknowledges acknowledge VERB taxlaw-2807 437 4 that that SCONJ taxlaw-2807 437 5 market market NOUN taxlaw-2807 437 6 price price NOUN taxlaw-2807 437 7 is be AUX taxlaw-2807 437 8 policymakers policymaker NOUN taxlaw-2807 437 9 ’ ’ PART taxlaw-2807 437 10 main main ADJ taxlaw-2807 437 11 source source NOUN taxlaw-2807 437 12 of of ADP taxlaw-2807 437 13 information information NOUN taxlaw-2807 437 14 , , PUNCT taxlaw-2807 437 15 so so SCONJ taxlaw-2807 437 16 that that SCONJ taxlaw-2807 437 17 some some DET taxlaw-2807 437 18 errors error NOUN taxlaw-2807 437 19 are be AUX taxlaw-2807 437 20 inevitable inevitable ADJ taxlaw-2807 437 21 as as ADV taxlaw-2807 437 22 well well ADV taxlaw-2807 437 23 . . PUNCT taxlaw-2807 438 1 we we PRON taxlaw-2807 438 2 then then ADV taxlaw-2807 438 3 identify identify VERB taxlaw-2807 438 4 categories category NOUN taxlaw-2807 438 5 of of ADP taxlaw-2807 438 6 assets asset NOUN taxlaw-2807 438 7 for for ADP taxlaw-2807 438 8 which which PRON taxlaw-2807 438 9 one one PRON taxlaw-2807 438 10 could could AUX taxlaw-2807 438 11 expect expect VERB taxlaw-2807 438 12 to to PART taxlaw-2807 438 13 find find VERB taxlaw-2807 438 14 a a DET taxlaw-2807 438 15 significant significant ADJ taxlaw-2807 438 16 mismatch mismatch NOUN taxlaw-2807 438 17 between between ADP taxlaw-2807 438 18 market market NOUN taxlaw-2807 438 19 price price NOUN taxlaw-2807 438 20 and and CCONJ taxlaw-2807 438 21 what what PRON taxlaw-2807 438 22 the the DET taxlaw-2807 438 23 tax tax NOUN taxlaw-2807 438 24 system system NOUN taxlaw-2807 438 25 is be AUX taxlaw-2807 438 26 aiming aim VERB taxlaw-2807 438 27 to to PART taxlaw-2807 438 28 redistribute redistribute VERB taxlaw-2807 438 29 . . PUNCT taxlaw-2807 439 1 in in ADP taxlaw-2807 439 2 other other ADJ taxlaw-2807 439 3 words word NOUN taxlaw-2807 439 4 , , PUNCT taxlaw-2807 439 5 this this DET taxlaw-2807 439 6 article article NOUN taxlaw-2807 439 7 considers consider VERB taxlaw-2807 439 8 when when SCONJ taxlaw-2807 439 9 market market NOUN taxlaw-2807 439 10 price price NOUN taxlaw-2807 439 11 is be AUX taxlaw-2807 439 12 not not PART taxlaw-2807 439 13 an an DET taxlaw-2807 439 14 adequate adequate ADJ taxlaw-2807 439 15 proxy proxy NOUN taxlaw-2807 439 16 for for ADP taxlaw-2807 439 17 well well ADV taxlaw-2807 439 18 - - PUNCT taxlaw-2807 439 19 being being NOUN taxlaw-2807 439 20 ( ( PUNCT taxlaw-2807 439 21 and and CCONJ taxlaw-2807 439 22 other other ADJ taxlaw-2807 439 23 potential potential ADJ taxlaw-2807 439 24 currencies currency NOUN taxlaw-2807 439 25 of of ADP taxlaw-2807 439 26 justice justice NOUN taxlaw-2807 439 27 ) ) PUNCT taxlaw-2807 439 28 and and CCONJ taxlaw-2807 439 29 evaluates evaluate VERB taxlaw-2807 439 30 the the DET taxlaw-2807 439 31 implications implication NOUN taxlaw-2807 439 32 of of ADP taxlaw-2807 439 33 that that DET taxlaw-2807 439 34 mismatch mismatch NOUN taxlaw-2807 439 35 for for ADP taxlaw-2807 439 36 the the DET taxlaw-2807 439 37 realization realization NOUN taxlaw-2807 439 38 requirement requirement NOUN taxlaw-2807 439 39 . . PUNCT taxlaw-2807 440 1 b. b. PROPN taxlaw-2807 440 2 market market NOUN taxlaw-2807 440 3 price price NOUN taxlaw-2807 440 4 , , PUNCT taxlaw-2807 440 5 personal personal ADJ taxlaw-2807 440 6 assets asset NOUN taxlaw-2807 440 7 , , PUNCT taxlaw-2807 440 8 and and CCONJ taxlaw-2807 440 9 interpersonal interpersonal ADJ taxlaw-2807 440 10 comparisons comparison NOUN taxlaw-2807 440 11 this this DET taxlaw-2807 440 12 subpart subpart NOUN taxlaw-2807 440 13 advances advance VERB taxlaw-2807 440 14 the the DET taxlaw-2807 440 15 claim claim NOUN taxlaw-2807 440 16 that that SCONJ taxlaw-2807 440 17 the the DET taxlaw-2807 440 18 realization realization NOUN taxlaw-2807 440 19 requirement requirement NOUN taxlaw-2807 440 20 is be AUX taxlaw-2807 440 21 normatively normatively ADV taxlaw-2807 440 22 justified justify VERB taxlaw-2807 440 23 with with ADP taxlaw-2807 440 24 respect respect NOUN taxlaw-2807 440 25 to to ADP taxlaw-2807 440 26 certain certain ADJ taxlaw-2807 440 27 types type NOUN taxlaw-2807 440 28 of of ADP taxlaw-2807 440 29 personal personal ADJ taxlaw-2807 440 30 assets asset NOUN taxlaw-2807 440 31 . . PUNCT taxlaw-2807 441 1 for for ADP taxlaw-2807 441 2 those those DET taxlaw-2807 441 3 assets asset NOUN taxlaw-2807 441 4 , , PUNCT taxlaw-2807 441 5 the the DET taxlaw-2807 441 6 market market NOUN taxlaw-2807 441 7 price price NOUN taxlaw-2807 441 8 may may AUX taxlaw-2807 441 9 be be AUX taxlaw-2807 441 10 an an DET taxlaw-2807 441 11 inherently inherently ADV taxlaw-2807 441 12 inaccurate inaccurate ADJ taxlaw-2807 441 13 proxy proxy NOUN taxlaw-2807 441 14 for for ADP taxlaw-2807 441 15 value value NOUN taxlaw-2807 441 16 and and CCONJ taxlaw-2807 441 17 therefore therefore ADV taxlaw-2807 441 18 should should AUX taxlaw-2807 441 19 not not PART taxlaw-2807 441 20 be be AUX taxlaw-2807 441 21 relied rely VERB taxlaw-2807 441 22 upon upon SCONJ taxlaw-2807 441 23 from from ADP taxlaw-2807 441 24 a a DET taxlaw-2807 441 25 tax tax NOUN taxlaw-2807 441 26 perspective perspective NOUN taxlaw-2807 441 27 . . PUNCT taxlaw-2807 442 1 the the DET taxlaw-2807 442 2 analysis analysis NOUN taxlaw-2807 442 3 begins begin VERB taxlaw-2807 442 4 with with ADP taxlaw-2807 442 5 the the DET taxlaw-2807 442 6 observation observation NOUN taxlaw-2807 442 7 that that SCONJ taxlaw-2807 442 8 there there PRON taxlaw-2807 442 9 is be VERB taxlaw-2807 442 10 one one NUM taxlaw-2807 442 11 point point NOUN taxlaw-2807 442 12 upon upon SCONJ taxlaw-2807 442 13 which which PRON taxlaw-2807 442 14 everyone everyone PRON taxlaw-2807 442 15 seems seem VERB taxlaw-2807 442 16 to to PART taxlaw-2807 442 17 agree agree VERB taxlaw-2807 442 18 : : PUNCT taxlaw-2807 442 19 personal personal ADJ taxlaw-2807 442 20 assets asset NOUN taxlaw-2807 442 21 could could AUX taxlaw-2807 442 22 not not PART taxlaw-2807 442 23 be be AUX taxlaw-2807 442 24 taxed tax VERB taxlaw-2807 442 25 on on ADP taxlaw-2807 442 26 a a DET taxlaw-2807 442 27 mark mark NOUN taxlaw-2807 442 28 - - PUNCT taxlaw-2807 442 29 to to ADP taxlaw-2807 442 30 - - PUNCT taxlaw-2807 442 31 market market NOUN taxlaw-2807 442 32 basis basis NOUN taxlaw-2807 442 33 under under ADP taxlaw-2807 442 34 any any DET taxlaw-2807 442 35 politically politically ADV taxlaw-2807 442 36 feasible feasible ADJ taxlaw-2807 442 37 tax tax NOUN taxlaw-2807 442 38 regime.121 regime.121 ADJ taxlaw-2807 442 39 in in ADP taxlaw-2807 442 40 many many ADJ taxlaw-2807 442 41 cases case NOUN taxlaw-2807 442 42 personal personal ADJ taxlaw-2807 442 43 assets asset NOUN taxlaw-2807 442 44 may may AUX taxlaw-2807 442 45 be be AUX taxlaw-2807 442 46 difficult difficult ADJ taxlaw-2807 442 47 to to PART taxlaw-2807 442 48 value value VERB taxlaw-2807 442 49 — — PUNCT taxlaw-2807 442 50 e.g. e.g. ADV taxlaw-2807 442 51 , , PUNCT taxlaw-2807 442 52 old old ADJ taxlaw-2807 442 53 family family NOUN taxlaw-2807 442 54 furniture furniture NOUN taxlaw-2807 442 55 , , PUNCT taxlaw-2807 442 56 real real ADJ taxlaw-2807 442 57 estate estate NOUN taxlaw-2807 442 58 in in ADP taxlaw-2807 442 59 places place NOUN taxlaw-2807 442 60 with with ADP taxlaw-2807 442 61 low low ADJ taxlaw-2807 442 62 exchange exchange NOUN taxlaw-2807 442 63 activity activity NOUN taxlaw-2807 442 64 . . PUNCT taxlaw-2807 443 1 however however ADV taxlaw-2807 443 2 , , PUNCT taxlaw-2807 443 3 many many ADJ taxlaw-2807 443 4 personal personal ADJ taxlaw-2807 443 5 assets asset NOUN taxlaw-2807 443 6 are be AUX taxlaw-2807 443 7 very very ADV taxlaw-2807 443 8 easy easy ADJ taxlaw-2807 443 9 to to PART taxlaw-2807 443 10 value value VERB taxlaw-2807 443 11 — — PUNCT taxlaw-2807 443 12 for for ADP taxlaw-2807 443 13 example example NOUN taxlaw-2807 443 14 , , PUNCT taxlaw-2807 443 15 real real ADJ taxlaw-2807 443 16 estate estate NOUN taxlaw-2807 443 17 in in ADP taxlaw-2807 443 18 certain certain ADJ taxlaw-2807 443 19 cities city NOUN taxlaw-2807 443 20 , , PUNCT taxlaw-2807 443 21 old old ADJ taxlaw-2807 443 22 cars car NOUN taxlaw-2807 443 23 , , PUNCT taxlaw-2807 443 24 horses horse NOUN taxlaw-2807 443 25 in in ADP taxlaw-2807 443 26 the the DET taxlaw-2807 443 27 family family NOUN taxlaw-2807 443 28 stables stable NOUN taxlaw-2807 443 29 , , PUNCT taxlaw-2807 443 30 certain certain ADJ taxlaw-2807 443 31 collectable collectable ADJ taxlaw-2807 443 32 items item NOUN taxlaw-2807 443 33 ( ( PUNCT taxlaw-2807 443 34 e.g. e.g. ADV taxlaw-2807 443 35 , , PUNCT taxlaw-2807 443 36 stamp stamp NOUN taxlaw-2807 443 37 collections collection NOUN taxlaw-2807 443 38 ) ) PUNCT taxlaw-2807 443 39 . . PUNCT taxlaw-2807 444 1 the the DET taxlaw-2807 444 2 intuitive intuitive ADJ taxlaw-2807 444 3 case case NOUN taxlaw-2807 444 4 against against ADP taxlaw-2807 444 5 taxing tax VERB taxlaw-2807 444 6 these these DET taxlaw-2807 444 7 assets asset NOUN taxlaw-2807 444 8 on on ADP taxlaw-2807 444 9 a a DET taxlaw-2807 444 10 mark mark NOUN taxlaw-2807 444 11 - - PUNCT taxlaw-2807 444 12 to to ADP taxlaw-2807 444 13 - - PUNCT taxlaw-2807 444 14 market market NOUN taxlaw-2807 444 15 basis basis NOUN taxlaw-2807 444 16 derives derive VERB taxlaw-2807 444 17 from from ADP taxlaw-2807 444 18 the the DET taxlaw-2807 444 19 notion notion NOUN taxlaw-2807 444 20 that that SCONJ taxlaw-2807 444 21 market market NOUN taxlaw-2807 444 22 price price NOUN taxlaw-2807 444 23 may may AUX taxlaw-2807 444 24 not not PART taxlaw-2807 444 25 adequately adequately ADV taxlaw-2807 444 26 reflect reflect VERB taxlaw-2807 444 27 their their PRON taxlaw-2807 444 28 true true ADJ taxlaw-2807 444 29 value value NOUN taxlaw-2807 444 30 to to ADP taxlaw-2807 444 31 taxpayers taxpayer NOUN taxlaw-2807 444 32 . . PUNCT taxlaw-2807 445 1 advocates advocate NOUN taxlaw-2807 445 2 of of ADP taxlaw-2807 445 3 shifting shift VERB taxlaw-2807 445 4 to to ADP taxlaw-2807 445 5 a a DET taxlaw-2807 445 6 mark mark VERB taxlaw-2807 445 7 - - PUNCT taxlaw-2807 445 8 to to ADP taxlaw-2807 445 9 - - PUNCT taxlaw-2807 445 10 market market NOUN taxlaw-2807 445 11 regime regime NOUN taxlaw-2807 445 12 focus focus VERB taxlaw-2807 445 13 on on ADP taxlaw-2807 445 14 publicly publicly ADV taxlaw-2807 445 15 traded trade VERB taxlaw-2807 445 16 instruments instrument NOUN taxlaw-2807 445 17 , , PUNCT taxlaw-2807 445 18 arguing argue VERB taxlaw-2807 445 19 that that SCONJ taxlaw-2807 445 20 exceptions exception NOUN taxlaw-2807 445 21 could could AUX taxlaw-2807 445 22 be be AUX taxlaw-2807 445 23 made make VERB taxlaw-2807 445 24 for for ADP taxlaw-2807 445 25 hard hard ADJ taxlaw-2807 445 26 - - PUNCT taxlaw-2807 445 27 to to ADP taxlaw-2807 445 28 - - PUNCT taxlaw-2807 445 29 value value NOUN taxlaw-2807 445 30 personal personal ADJ taxlaw-2807 445 31 assets asset NOUN taxlaw-2807 445 32 . . PUNCT taxlaw-2807 446 1 advocates advocate NOUN taxlaw-2807 446 2 of of ADP taxlaw-2807 446 3 the the DET taxlaw-2807 446 4 realization realization NOUN taxlaw-2807 446 5 requirement requirement NOUN taxlaw-2807 446 6 stress stress NOUN taxlaw-2807 446 7 that that SCONJ taxlaw-2807 446 8 valuation valuation NOUN taxlaw-2807 446 9 and and CCONJ taxlaw-2807 446 10 liquidity liquidity NOUN taxlaw-2807 446 11 concerns concern NOUN taxlaw-2807 446 12 would would AUX taxlaw-2807 446 13 make make VERB taxlaw-2807 446 14 it it PRON taxlaw-2807 446 15 difficult difficult ADJ taxlaw-2807 446 16 to to PART taxlaw-2807 446 17 tax tax VERB taxlaw-2807 446 18 closely closely ADV taxlaw-2807 446 19 held hold VERB taxlaw-2807 446 20 companies company NOUN taxlaw-2807 446 21 , , PUNCT taxlaw-2807 446 22 certain certain ADJ taxlaw-2807 446 23 farms farm NOUN taxlaw-2807 446 24 , , PUNCT taxlaw-2807 446 25 and and CCONJ taxlaw-2807 446 26 real real ADJ taxlaw-2807 446 27 estate estate NOUN taxlaw-2807 446 28 under under ADP taxlaw-2807 446 29 a a DET taxlaw-2807 446 30 mark mark NOUN taxlaw-2807 446 31 - - PUNCT taxlaw-2807 446 32 to to ADP taxlaw-2807 446 33 - - PUNCT taxlaw-2807 446 34 market market NOUN taxlaw-2807 446 35 regime regime NOUN taxlaw-2807 446 36 . . PUNCT taxlaw-2807 447 1 this this DET taxlaw-2807 447 2 article article NOUN taxlaw-2807 447 3 takes take VERB taxlaw-2807 447 4 a a DET taxlaw-2807 447 5 different different ADJ taxlaw-2807 447 6 approach approach NOUN taxlaw-2807 447 7 and and CCONJ taxlaw-2807 447 8 questions question NOUN taxlaw-2807 447 9 what what PRON taxlaw-2807 447 10 makes make VERB taxlaw-2807 447 11 the the DET taxlaw-2807 447 12 mark mark NOUN taxlaw-2807 447 13 - - PUNCT taxlaw-2807 447 14 tomarket tomarket NOUN taxlaw-2807 447 15 taxation taxation NOUN taxlaw-2807 447 16 of of ADP taxlaw-2807 447 17 certain certain ADJ taxlaw-2807 447 18 assets asset NOUN taxlaw-2807 447 19 so so ADV taxlaw-2807 447 20 unappealing unappealing ADJ taxlaw-2807 447 21 and and CCONJ taxlaw-2807 447 22 asks ask VERB taxlaw-2807 447 23 if if SCONJ taxlaw-2807 447 24 the the DET taxlaw-2807 447 25 answer answer NOUN taxlaw-2807 447 26 helps help VERB taxlaw-2807 447 27 explain explain VERB taxlaw-2807 447 28 the the DET taxlaw-2807 447 29 normative normative ADJ taxlaw-2807 447 30 base base NOUN taxlaw-2807 447 31 of of ADP taxlaw-2807 447 32 the the DET taxlaw-2807 447 33 realization realization NOUN taxlaw-2807 447 34 requirement requirement NOUN taxlaw-2807 447 35 . . PUNCT taxlaw-2807 448 1 this this DET taxlaw-2807 448 2 type type NOUN taxlaw-2807 448 3 of of ADP taxlaw-2807 448 4 inquiry inquiry NOUN taxlaw-2807 448 5 may may AUX taxlaw-2807 448 6 help help VERB taxlaw-2807 448 7 policymakers policymaker NOUN taxlaw-2807 448 8 start start VERB taxlaw-2807 448 9 succeeding succeed VERB taxlaw-2807 448 10 in in ADP taxlaw-2807 448 11 what what PRON taxlaw-2807 448 12 they they PRON taxlaw-2807 448 13 so so ADV taxlaw-2807 448 14 far far ADV taxlaw-2807 448 15 have have AUX taxlaw-2807 448 16 failed fail VERB taxlaw-2807 448 17 in in ADP taxlaw-2807 448 18 doing do VERB taxlaw-2807 448 19 — — PUNCT taxlaw-2807 448 20 promoting promote VERB taxlaw-2807 448 21 consistent consistent ADJ taxlaw-2807 448 22 general general ADJ taxlaw-2807 448 23 rules rule NOUN taxlaw-2807 448 24 for for ADP taxlaw-2807 448 25 applying apply VERB taxlaw-2807 448 26 the the DET taxlaw-2807 448 27 realization realization NOUN taxlaw-2807 448 28 requirement requirement NOUN taxlaw-2807 448 29 . . PUNCT taxlaw-2807 449 1 there there PRON taxlaw-2807 449 2 are be VERB taxlaw-2807 449 3 only only ADV taxlaw-2807 449 4 two two NUM taxlaw-2807 449 5 pieces piece NOUN taxlaw-2807 449 6 that that PRON taxlaw-2807 449 7 touch touch VERB taxlaw-2807 449 8 upon upon SCONJ taxlaw-2807 449 9 the the DET taxlaw-2807 449 10 above above ADJ taxlaw-2807 449 11 inquiry inquiry NOUN taxlaw-2807 449 12 . . PUNCT taxlaw-2807 450 1 the the DET taxlaw-2807 450 2 first first ADJ taxlaw-2807 450 3 is be AUX taxlaw-2807 450 4 by by ADP taxlaw-2807 450 5 louis louis PROPN taxlaw-2807 450 6 kaplow kaplow PROPN taxlaw-2807 450 7 , , PUNCT taxlaw-2807 450 8 who who PRON taxlaw-2807 450 9 examined examine VERB taxlaw-2807 450 10 how how SCONJ taxlaw-2807 450 11 human human ADJ taxlaw-2807 450 12 capital capital NOUN taxlaw-2807 450 13 would would AUX taxlaw-2807 450 14 be be AUX taxlaw-2807 450 15 taxed tax VERB taxlaw-2807 450 16 under under ADP taxlaw-2807 450 17 an an DET taxlaw-2807 450 18 ideal ideal ADJ taxlaw-2807 450 19 income income NOUN taxlaw-2807 450 20 tax tax NOUN taxlaw-2807 450 21 , , PUNCT taxlaw-2807 450 22 which which PRON taxlaw-2807 450 23 would would AUX taxlaw-2807 450 24 include include VERB taxlaw-2807 450 25 a a DET taxlaw-2807 450 26 tax tax NOUN taxlaw-2807 450 27 on on ADP taxlaw-2807 450 28 unrealized unrealized ADJ taxlaw-2807 450 29 earnings.122 earnings.122 NOUN taxlaw-2807 450 30 kaplow kaplow NOUN taxlaw-2807 450 31 did do AUX taxlaw-2807 450 32 not not PART taxlaw-2807 450 33 make make VERB taxlaw-2807 450 34 this this DET taxlaw-2807 450 35 121 121 NUM taxlaw-2807 450 36 cunningham cunningham PROPN taxlaw-2807 450 37 & & CCONJ taxlaw-2807 450 38 schenk schenk PROPN taxlaw-2807 450 39 , , PUNCT taxlaw-2807 450 40 supra supra PROPN taxlaw-2807 450 41 note note NOUN taxlaw-2807 450 42 9 9 NUM taxlaw-2807 450 43 , , PUNCT taxlaw-2807 450 44 at at ADP taxlaw-2807 450 45 801–02 801–02 NUM taxlaw-2807 450 46 ; ; PUNCT taxlaw-2807 450 47 fellows fellow NOUN taxlaw-2807 450 48 , , PUNCT taxlaw-2807 450 49 supra supra PROPN taxlaw-2807 450 50 note note NOUN taxlaw-2807 450 51 1 1 NUM taxlaw-2807 450 52 , , PUNCT taxlaw-2807 450 53 at at ADP taxlaw-2807 450 54 781 781 NUM taxlaw-2807 450 55 ; ; PUNCT taxlaw-2807 450 56 halperin halperin NOUN taxlaw-2807 450 57 , , PUNCT taxlaw-2807 450 58 supra supra PROPN taxlaw-2807 450 59 note note NOUN taxlaw-2807 450 60 9 9 NUM taxlaw-2807 450 61 , , PUNCT taxlaw-2807 450 62 at at ADP taxlaw-2807 450 63 503 503 NUM taxlaw-2807 450 64 ; ; PUNCT taxlaw-2807 450 65 schenk schenk PROPN taxlaw-2807 450 66 , , PUNCT taxlaw-2807 450 67 supra supra PROPN taxlaw-2807 450 68 note note PROPN taxlaw-2807 450 69 12 12 NUM taxlaw-2807 450 70 , , PUNCT taxlaw-2807 450 71 at at ADP taxlaw-2807 450 72 364 364 NUM taxlaw-2807 450 73 ; ; PUNCT taxlaw-2807 450 74 shakow shakow ADJ taxlaw-2807 450 75 , , PUNCT taxlaw-2807 450 76 supra supra ADJ taxlaw-2807 450 77 note note NOUN taxlaw-2807 450 78 9 9 NUM taxlaw-2807 450 79 , , PUNCT taxlaw-2807 450 80 at at ADP taxlaw-2807 450 81 1144 1144 NUM taxlaw-2807 450 82 , , PUNCT taxlaw-2807 450 83 1153–54 1153–54 NUM taxlaw-2807 450 84 , , PUNCT taxlaw-2807 450 85 1158–60 1158–60 NOUN taxlaw-2807 450 86 ; ; PUNCT taxlaw-2807 450 87 shaviro shaviro NOUN taxlaw-2807 450 88 , , PUNCT taxlaw-2807 450 89 supra supra PROPN taxlaw-2807 450 90 note note NOUN taxlaw-2807 450 91 1 1 NUM taxlaw-2807 450 92 , , PUNCT taxlaw-2807 450 93 at at ADP taxlaw-2807 450 94 7 7 NUM taxlaw-2807 450 95 ; ; PUNCT taxlaw-2807 450 96 zelinsky zelinsky ADJ taxlaw-2807 450 97 , , PUNCT taxlaw-2807 450 98 supra supra ADJ taxlaw-2807 450 99 note note NOUN taxlaw-2807 450 100 8 8 NUM taxlaw-2807 450 101 , , PUNCT taxlaw-2807 450 102 at at ADP taxlaw-2807 450 103 876 876 NUM taxlaw-2807 450 104 , , PUNCT taxlaw-2807 450 105 889 889 NUM taxlaw-2807 450 106 . . PUNCT taxlaw-2807 450 107 122 122 NUM taxlaw-2807 450 108 louis louis PROPN taxlaw-2807 450 109 kaplow kaplow PROPN taxlaw-2807 450 110 , , PUNCT taxlaw-2807 450 111 human human ADJ taxlaw-2807 450 112 capital capital NOUN taxlaw-2807 450 113 under under ADP taxlaw-2807 450 114 an an DET taxlaw-2807 450 115 ideal ideal ADJ taxlaw-2807 450 116 income income NOUN taxlaw-2807 450 117 tax tax NOUN taxlaw-2807 450 118 , , PUNCT taxlaw-2807 450 119 80 80 NUM taxlaw-2807 450 120 va va NOUN taxlaw-2807 450 121 . . PUNCT taxlaw-2807 451 1 l. l. PROPN taxlaw-2807 451 2 rev rev PROPN taxlaw-2807 451 3 . . PROPN taxlaw-2807 451 4 1477 1477 NUM taxlaw-2807 451 5 ( ( PUNCT taxlaw-2807 451 6 1994 1994 NUM taxlaw-2807 451 7 ) ) PUNCT taxlaw-2807 452 1 [ [ X taxlaw-2807 452 2 hereinafter hereinafter NOUN taxlaw-2807 452 3 kaplow kaplow NOUN taxlaw-2807 452 4 , , PUNCT taxlaw-2807 452 5 ideal ideal ADJ taxlaw-2807 452 6 income income NOUN taxlaw-2807 452 7 tax tax NOUN taxlaw-2807 452 8 ] ] PUNCT taxlaw-2807 452 9 . . PUNCT taxlaw-2807 453 1 see see VERB taxlaw-2807 453 2 also also ADV taxlaw-2807 453 3 louis louis PROPN taxlaw-2807 453 4 kaplow kaplow PROPN taxlaw-2807 453 5 , , PUNCT taxlaw-2807 453 6 on on ADP taxlaw-2807 453 7 the the DET taxlaw-2807 453 8 divergence divergence NOUN taxlaw-2807 453 9 between between ADP taxlaw-2807 453 10 “ " PUNCT taxlaw-2807 453 11 ideal ideal ADJ taxlaw-2807 453 12 ” " PUNCT taxlaw-2807 453 13 and and CCONJ taxlaw-2807 453 14 64 64 NUM taxlaw-2807 453 15 columbia columbia PROPN taxlaw-2807 453 16 journal journal NOUN taxlaw-2807 453 17 of of ADP taxlaw-2807 453 18 tax tax NOUN taxlaw-2807 453 19 law law NOUN taxlaw-2807 454 1 [ [ X taxlaw-2807 454 2 vol.3:43 vol.3:43 PROPN taxlaw-2807 454 3 inquiry inquiry NOUN taxlaw-2807 454 4 to to PART taxlaw-2807 454 5 determine determine VERB taxlaw-2807 454 6 whether whether SCONJ taxlaw-2807 454 7 there there PRON taxlaw-2807 454 8 is be VERB taxlaw-2807 454 9 something something PRON taxlaw-2807 454 10 unique unique ADJ taxlaw-2807 454 11 about about ADP taxlaw-2807 454 12 human human ADJ taxlaw-2807 454 13 capital capital NOUN taxlaw-2807 454 14 that that PRON taxlaw-2807 454 15 justifies justify VERB taxlaw-2807 454 16 applying apply VERB taxlaw-2807 454 17 the the DET taxlaw-2807 454 18 realization realization NOUN taxlaw-2807 454 19 requirement requirement NOUN taxlaw-2807 454 20 to to ADP taxlaw-2807 454 21 it it PRON taxlaw-2807 454 22 . . PUNCT taxlaw-2807 455 1 instead instead ADV taxlaw-2807 455 2 , , PUNCT taxlaw-2807 455 3 he he PRON taxlaw-2807 455 4 argued argue VERB taxlaw-2807 455 5 that that SCONJ taxlaw-2807 455 6 those those PRON taxlaw-2807 455 7 advocating advocate VERB taxlaw-2807 455 8 for for ADP taxlaw-2807 455 9 a a DET taxlaw-2807 455 10 shift shift NOUN taxlaw-2807 455 11 to to ADP taxlaw-2807 455 12 an an DET taxlaw-2807 455 13 ideal ideal ADJ taxlaw-2807 455 14 income income NOUN taxlaw-2807 455 15 tax tax NOUN taxlaw-2807 455 16 , , PUNCT taxlaw-2807 455 17 which which PRON taxlaw-2807 455 18 like like ADP taxlaw-2807 455 19 a a DET taxlaw-2807 455 20 mark mark NOUN taxlaw-2807 455 21 - - PUNCT taxlaw-2807 455 22 to to ADP taxlaw-2807 455 23 - - PUNCT taxlaw-2807 455 24 market market NOUN taxlaw-2807 455 25 regime regime NOUN taxlaw-2807 455 26 would would AUX taxlaw-2807 455 27 tax tax VERB taxlaw-2807 455 28 changes change NOUN taxlaw-2807 455 29 in in ADP taxlaw-2807 455 30 value value NOUN taxlaw-2807 455 31 , , PUNCT taxlaw-2807 455 32 should should AUX taxlaw-2807 455 33 account account VERB taxlaw-2807 455 34 for for ADP taxlaw-2807 455 35 how how SCONJ taxlaw-2807 455 36 human human ADJ taxlaw-2807 455 37 capital capital NOUN taxlaw-2807 455 38 would would AUX taxlaw-2807 455 39 be be AUX taxlaw-2807 455 40 treated treat VERB taxlaw-2807 455 41 under under ADP taxlaw-2807 455 42 such such DET taxlaw-2807 455 43 a a DET taxlaw-2807 455 44 regime regime NOUN taxlaw-2807 455 45 . . PUNCT taxlaw-2807 456 1 in in ADP taxlaw-2807 456 2 his his PRON taxlaw-2807 456 3 opinion opinion NOUN taxlaw-2807 456 4 , , PUNCT taxlaw-2807 456 5 if if SCONJ taxlaw-2807 456 6 human human ADJ taxlaw-2807 456 7 capital capital NOUN taxlaw-2807 456 8 received receive VERB taxlaw-2807 456 9 special special ADJ taxlaw-2807 456 10 realization realization NOUN taxlaw-2807 456 11 - - PUNCT taxlaw-2807 456 12 based base VERB taxlaw-2807 456 13 treatment treatment NOUN taxlaw-2807 456 14 , , PUNCT taxlaw-2807 456 15 123 123 NUM taxlaw-2807 456 16 the the DET taxlaw-2807 456 17 advocates advocate NOUN taxlaw-2807 456 18 for for ADP taxlaw-2807 456 19 the the DET taxlaw-2807 456 20 mark mark NOUN taxlaw-2807 456 21 - - PUNCT taxlaw-2807 456 22 to to ADP taxlaw-2807 456 23 - - PUNCT taxlaw-2807 456 24 market market NOUN taxlaw-2807 456 25 regime regime NOUN taxlaw-2807 456 26 would would AUX taxlaw-2807 456 27 have have VERB taxlaw-2807 456 28 the the DET taxlaw-2807 456 29 burden burden NOUN taxlaw-2807 456 30 of of ADP taxlaw-2807 456 31 explaining explain VERB taxlaw-2807 456 32 why.124 why.124 NOUN taxlaw-2807 456 33 some some DET taxlaw-2807 456 34 commentators commentator NOUN taxlaw-2807 456 35 have have AUX taxlaw-2807 456 36 read read VERB taxlaw-2807 456 37 kaplow kaplow PROPN taxlaw-2807 456 38 ’s ’s PART taxlaw-2807 456 39 argument argument NOUN taxlaw-2807 456 40 not not PART taxlaw-2807 456 41 as as ADP taxlaw-2807 456 42 an an DET taxlaw-2807 456 43 inquiry inquiry NOUN taxlaw-2807 456 44 into into ADP taxlaw-2807 456 45 whether whether SCONJ taxlaw-2807 456 46 the the DET taxlaw-2807 456 47 realization realization NOUN taxlaw-2807 456 48 requirement requirement NOUN taxlaw-2807 456 49 is be AUX taxlaw-2807 456 50 justified justify VERB taxlaw-2807 456 51 but but CCONJ taxlaw-2807 456 52 more more ADJ taxlaw-2807 456 53 as as ADP taxlaw-2807 456 54 a a DET taxlaw-2807 456 55 question question NOUN taxlaw-2807 456 56 as as ADP taxlaw-2807 456 57 to to ADP taxlaw-2807 456 58 whether whether SCONJ taxlaw-2807 456 59 an an DET taxlaw-2807 456 60 income income NOUN taxlaw-2807 456 61 tax tax NOUN taxlaw-2807 456 62 should should AUX taxlaw-2807 456 63 be be AUX taxlaw-2807 456 64 imposed impose VERB taxlaw-2807 456 65 on on ADP taxlaw-2807 456 66 capital capital NOUN taxlaw-2807 456 67 assets.125 assets.125 SCONJ taxlaw-2807 456 68 the the DET taxlaw-2807 456 69 second second NOUN taxlaw-2807 456 70 is be AUX taxlaw-2807 456 71 a a DET taxlaw-2807 456 72 recent recent ADJ taxlaw-2807 456 73 article article NOUN taxlaw-2807 456 74 by by ADP taxlaw-2807 456 75 the the DET taxlaw-2807 456 76 authors author NOUN taxlaw-2807 456 77 of of ADP taxlaw-2807 456 78 this this DET taxlaw-2807 456 79 article article NOUN taxlaw-2807 456 80 that that PRON taxlaw-2807 456 81 deals deal VERB taxlaw-2807 456 82 with with ADP taxlaw-2807 456 83 the the DET taxlaw-2807 456 84 taxation taxation NOUN taxlaw-2807 456 85 of of ADP taxlaw-2807 456 86 earning earn VERB taxlaw-2807 456 87 capacity capacity NOUN taxlaw-2807 456 88 as as ADP taxlaw-2807 456 89 a a DET taxlaw-2807 456 90 point point NOUN taxlaw-2807 456 91 of of ADP taxlaw-2807 456 92 intersection intersection NOUN taxlaw-2807 456 93 between between ADP taxlaw-2807 456 94 public public ADJ taxlaw-2807 456 95 finance finance NOUN taxlaw-2807 456 96 and and CCONJ taxlaw-2807 456 97 political political ADJ taxlaw-2807 456 98 philosophy philosophy NOUN taxlaw-2807 456 99 theories.126 theories.126 NOUN taxlaw-2807 456 100 that that DET taxlaw-2807 456 101 article article NOUN taxlaw-2807 456 102 suggests suggest VERB taxlaw-2807 456 103 that that SCONJ taxlaw-2807 456 104 the the DET taxlaw-2807 456 105 market market NOUN taxlaw-2807 456 106 price price NOUN taxlaw-2807 456 107 for for ADP taxlaw-2807 456 108 earning earn VERB taxlaw-2807 456 109 - - PUNCT taxlaw-2807 456 110 capacity capacity NOUN taxlaw-2807 456 111 endowment endowment NOUN taxlaw-2807 456 112 is be AUX taxlaw-2807 456 113 not not PART taxlaw-2807 456 114 an an DET taxlaw-2807 456 115 adequate adequate ADJ taxlaw-2807 456 116 benchmark benchmark NOUN taxlaw-2807 456 117 for for ADP taxlaw-2807 456 118 a a DET taxlaw-2807 456 119 tax tax NOUN taxlaw-2807 456 120 - - PUNCT taxlaw-2807 456 121 transfer transfer NOUN taxlaw-2807 456 122 regime regime NOUN taxlaw-2807 456 123 . . PUNCT taxlaw-2807 457 1 earning earn VERB taxlaw-2807 457 2 capacity capacity NOUN taxlaw-2807 457 3 should should AUX taxlaw-2807 457 4 not not PART taxlaw-2807 457 5 be be AUX taxlaw-2807 457 6 perceived perceive VERB taxlaw-2807 457 7 as as ADP taxlaw-2807 457 8 a a DET taxlaw-2807 457 9 cash cash NOUN taxlaw-2807 457 10 asset asset NOUN taxlaw-2807 457 11 that that SCONJ taxlaw-2807 457 12 individuals individual NOUN taxlaw-2807 457 13 can can AUX taxlaw-2807 457 14 simply simply ADV taxlaw-2807 457 15 use use VERB taxlaw-2807 457 16 , , PUNCT taxlaw-2807 457 17 because because SCONJ taxlaw-2807 457 18 the the DET taxlaw-2807 457 19 decision decision NOUN taxlaw-2807 457 20 of of ADP taxlaw-2807 457 21 how how SCONJ taxlaw-2807 457 22 to to PART taxlaw-2807 457 23 work work NOUN taxlaw-2807 457 24 is be AUX taxlaw-2807 457 25 multilayered multilayere VERB taxlaw-2807 457 26 and and CCONJ taxlaw-2807 457 27 also also ADV taxlaw-2807 457 28 driven drive VERB taxlaw-2807 457 29 by by ADP taxlaw-2807 457 30 preferences preference NOUN taxlaw-2807 457 31 , , PUNCT taxlaw-2807 457 32 moral moral ADJ taxlaw-2807 457 33 convictions conviction NOUN taxlaw-2807 457 34 , , PUNCT taxlaw-2807 457 35 and and CCONJ taxlaw-2807 457 36 needs need NOUN taxlaw-2807 457 37 . . PUNCT taxlaw-2807 458 1 in in ADP taxlaw-2807 458 2 essence essence NOUN taxlaw-2807 458 3 , , PUNCT taxlaw-2807 458 4 we we PRON taxlaw-2807 458 5 argued argue VERB taxlaw-2807 458 6 that that SCONJ taxlaw-2807 458 7 the the DET taxlaw-2807 458 8 market market NOUN taxlaw-2807 458 9 value value NOUN taxlaw-2807 458 10 of of ADP taxlaw-2807 458 11 earning earn VERB taxlaw-2807 458 12 capacity capacity NOUN taxlaw-2807 458 13 was be AUX taxlaw-2807 458 14 insufficient insufficient ADJ taxlaw-2807 458 15 as as ADP taxlaw-2807 458 16 a a DET taxlaw-2807 458 17 normative normative ADJ taxlaw-2807 458 18 foundation foundation NOUN taxlaw-2807 458 19 for for ADP taxlaw-2807 458 20 the the DET taxlaw-2807 458 21 tax tax NOUN taxlaw-2807 458 22 - - PUNCT taxlaw-2807 458 23 transfer transfer NOUN taxlaw-2807 458 24 regime regime NOUN taxlaw-2807 458 25 . . PUNCT taxlaw-2807 459 1 in in ADP taxlaw-2807 459 2 this this DET taxlaw-2807 459 3 article article NOUN taxlaw-2807 459 4 we we PRON taxlaw-2807 459 5 expand expand VERB taxlaw-2807 459 6 upon upon SCONJ taxlaw-2807 459 7 that that PRON taxlaw-2807 459 8 preliminary preliminary ADJ taxlaw-2807 459 9 analysis analysis NOUN taxlaw-2807 459 10 to to PART taxlaw-2807 459 11 determine determine VERB taxlaw-2807 459 12 how how SCONJ taxlaw-2807 459 13 it it PRON taxlaw-2807 459 14 can can AUX taxlaw-2807 459 15 advance advance VERB taxlaw-2807 459 16 tax tax NOUN taxlaw-2807 459 17 policy policy NOUN taxlaw-2807 459 18 with with ADP taxlaw-2807 459 19 respect respect NOUN taxlaw-2807 459 20 to to ADP taxlaw-2807 459 21 the the DET taxlaw-2807 459 22 realization realization NOUN taxlaw-2807 459 23 principle principle NOUN taxlaw-2807 459 24 in in ADP taxlaw-2807 459 25 general general ADJ taxlaw-2807 459 26 . . PUNCT taxlaw-2807 460 1 we we PRON taxlaw-2807 460 2 agree agree VERB taxlaw-2807 460 3 with with ADP taxlaw-2807 460 4 kaplow kaplow NOUN taxlaw-2807 460 5 that that SCONJ taxlaw-2807 460 6 a a DET taxlaw-2807 460 7 pure pure ADJ taxlaw-2807 460 8 mark mark NOUN taxlaw-2807 460 9 - - PUNCT taxlaw-2807 460 10 to to ADP taxlaw-2807 460 11 - - PUNCT taxlaw-2807 460 12 market market NOUN taxlaw-2807 460 13 income income NOUN taxlaw-2807 460 14 tax tax NOUN taxlaw-2807 460 15 regime regime NOUN taxlaw-2807 460 16 would would AUX taxlaw-2807 460 17 require require VERB taxlaw-2807 460 18 taxing tax VERB taxlaw-2807 460 19 the the DET taxlaw-2807 460 20 value value NOUN taxlaw-2807 460 21 fluctuation fluctuation NOUN taxlaw-2807 460 22 of of ADP taxlaw-2807 460 23 all all DET taxlaw-2807 460 24 assets asset NOUN taxlaw-2807 460 25 , , PUNCT taxlaw-2807 460 26 including include VERB taxlaw-2807 460 27 human human ADJ taxlaw-2807 460 28 capital.127 capital.127 NOUN taxlaw-2807 460 29 we we PRON taxlaw-2807 460 30 also also ADV taxlaw-2807 460 31 agree agree VERB taxlaw-2807 460 32 with with ADP taxlaw-2807 460 33 him he PRON taxlaw-2807 460 34 that that SCONJ taxlaw-2807 460 35 a a DET taxlaw-2807 460 36 rigorous rigorous ADJ taxlaw-2807 460 37 mark mark NOUN taxlaw-2807 460 38 - - PUNCT taxlaw-2807 460 39 to to ADP taxlaw-2807 460 40 - - PUNCT taxlaw-2807 460 41 market market NOUN taxlaw-2807 460 42 regime regime NOUN taxlaw-2807 460 43 would would AUX taxlaw-2807 460 44 include include VERB taxlaw-2807 460 45 other other ADJ taxlaw-2807 460 46 types type NOUN taxlaw-2807 460 47 of of ADP taxlaw-2807 460 48 assets asset NOUN taxlaw-2807 460 49 , , PUNCT taxlaw-2807 460 50 such such ADJ taxlaw-2807 460 51 as as ADP taxlaw-2807 460 52 personal personal ADJ taxlaw-2807 460 53 belongings belonging NOUN taxlaw-2807 460 54 , , PUNCT taxlaw-2807 460 55 residential residential ADJ taxlaw-2807 460 56 homes home NOUN taxlaw-2807 460 57 , , PUNCT taxlaw-2807 460 58 and and CCONJ taxlaw-2807 460 59 family family NOUN taxlaw-2807 460 60 businesses business NOUN taxlaw-2807 460 61 . . PUNCT taxlaw-2807 461 1 we we PRON taxlaw-2807 461 2 broadly broadly ADV taxlaw-2807 461 3 classify classify VERB taxlaw-2807 461 4 personal personal ADJ taxlaw-2807 461 5 assets asset NOUN taxlaw-2807 461 6 as as ADP taxlaw-2807 461 7 assets asset NOUN taxlaw-2807 461 8 in in ADP taxlaw-2807 461 9 which which PRON taxlaw-2807 461 10 there there PRON taxlaw-2807 461 11 is be VERB taxlaw-2807 461 12 a a DET taxlaw-2807 461 13 high high ADJ taxlaw-2807 461 14 probability probability NOUN taxlaw-2807 461 15 that that SCONJ taxlaw-2807 461 16 taxpayers taxpayer NOUN taxlaw-2807 461 17 ’ ’ PART taxlaw-2807 461 18 subjective subjective ADJ taxlaw-2807 461 19 value value NOUN taxlaw-2807 461 20 is be AUX taxlaw-2807 461 21 radically radically ADV taxlaw-2807 461 22 different different ADJ taxlaw-2807 461 23 ( ( PUNCT taxlaw-2807 461 24 that that PRON taxlaw-2807 461 25 is is ADV taxlaw-2807 461 26 , , PUNCT taxlaw-2807 461 27 significantly significantly ADV taxlaw-2807 461 28 higher)128 higher)128 ADP taxlaw-2807 461 29 than than SCONJ taxlaw-2807 461 30 the the DET taxlaw-2807 461 31 assets asset NOUN taxlaw-2807 461 32 ’ ' PUNCT taxlaw-2807 461 33 market market NOUN taxlaw-2807 461 34 value.129 value.129 VERB taxlaw-2807 461 35 the the DET taxlaw-2807 461 36 higher high ADJ taxlaw-2807 461 37 personal personal ADJ taxlaw-2807 461 38 value value NOUN taxlaw-2807 461 39 attached attach VERB taxlaw-2807 461 40 to to ADP taxlaw-2807 461 41 these these DET taxlaw-2807 461 42 assets asset NOUN taxlaw-2807 461 43 is be AUX taxlaw-2807 461 44 prohibitive prohibitive ADJ taxlaw-2807 461 45 — — PUNCT taxlaw-2807 461 46 that that ADV taxlaw-2807 461 47 is is ADV taxlaw-2807 461 48 , , PUNCT taxlaw-2807 461 49 it it PRON taxlaw-2807 461 50 renders render VERB taxlaw-2807 461 51 the the DET taxlaw-2807 461 52 possibility possibility NOUN taxlaw-2807 461 53 of of ADP taxlaw-2807 461 54 trading trade VERB taxlaw-2807 461 55 them they PRON taxlaw-2807 461 56 on on ADP taxlaw-2807 461 57 the the DET taxlaw-2807 461 58 market market NOUN taxlaw-2807 461 59 very very ADV taxlaw-2807 461 60 unlikely unlikely ADJ taxlaw-2807 461 61 . . PUNCT taxlaw-2807 462 1 even even ADV taxlaw-2807 462 2 though though SCONJ taxlaw-2807 462 3 it it PRON taxlaw-2807 462 4 is be AUX taxlaw-2807 462 5 impossible impossible ADJ taxlaw-2807 462 6 to to PART taxlaw-2807 462 7 comprehensively comprehensively ADV taxlaw-2807 462 8 define define VERB taxlaw-2807 462 9 emotionally emotionally ADV taxlaw-2807 462 10 non non ADJ taxlaw-2807 462 11 - - ADJ taxlaw-2807 462 12 fungible fungible ADJ taxlaw-2807 462 13 assets asset NOUN taxlaw-2807 462 14 , , PUNCT taxlaw-2807 462 15 one one PRON taxlaw-2807 462 16 can can AUX taxlaw-2807 462 17 think think VERB taxlaw-2807 462 18 of of ADP taxlaw-2807 462 19 them they PRON taxlaw-2807 462 20 as as ADP taxlaw-2807 462 21 assets asset NOUN taxlaw-2807 462 22 conventional conventional ADJ taxlaw-2807 462 23 income income NOUN taxlaw-2807 462 24 - - PUNCT taxlaw-2807 462 25 tax tax NOUN taxlaw-2807 462 26 treatment treatment NOUN taxlaw-2807 462 27 of of ADP taxlaw-2807 462 28 human human ADJ taxlaw-2807 462 29 capital capital NOUN taxlaw-2807 462 30 , , PUNCT taxlaw-2807 462 31 86 86 NUM taxlaw-2807 462 32 am am NOUN taxlaw-2807 462 33 . . PUNCT taxlaw-2807 463 1 econ econ PROPN taxlaw-2807 463 2 . . PUNCT taxlaw-2807 464 1 ass’n ass’n PROPN taxlaw-2807 464 2 papers paper NOUN taxlaw-2807 464 3 & & CCONJ taxlaw-2807 464 4 proceedings proceeding NOUN taxlaw-2807 464 5 347 347 NUM taxlaw-2807 464 6 ( ( PUNCT taxlaw-2807 464 7 1996 1996 NUM taxlaw-2807 464 8 ) ) PUNCT taxlaw-2807 464 9 . . PUNCT taxlaw-2807 465 1 123 123 NUM taxlaw-2807 465 2 kaplow kaplow NOUN taxlaw-2807 465 3 , , PUNCT taxlaw-2807 465 4 ideal ideal ADJ taxlaw-2807 465 5 income income NOUN taxlaw-2807 465 6 tax tax NOUN taxlaw-2807 465 7 , , PUNCT taxlaw-2807 465 8 supra supra PROPN taxlaw-2807 465 9 note note NOUN taxlaw-2807 465 10 122 122 NUM taxlaw-2807 465 11 , , PUNCT taxlaw-2807 465 12 at at ADP taxlaw-2807 465 13 1512–14 1512–14 NUM taxlaw-2807 465 14 ( ( PUNCT taxlaw-2807 465 15 arguing argue VERB taxlaw-2807 465 16 that that SCONJ taxlaw-2807 465 17 this this PRON taxlaw-2807 465 18 is be AUX taxlaw-2807 465 19 a a DET taxlaw-2807 465 20 consumption consumption NOUN taxlaw-2807 465 21 tax tax NOUN taxlaw-2807 465 22 treatment treatment NOUN taxlaw-2807 465 23 ) ) PUNCT taxlaw-2807 465 24 . . PUNCT taxlaw-2807 466 1 for for ADP taxlaw-2807 466 2 a a DET taxlaw-2807 466 3 different different ADJ taxlaw-2807 466 4 view view NOUN taxlaw-2807 466 5 , , PUNCT taxlaw-2807 466 6 see see VERB taxlaw-2807 466 7 benshalom benshalom NOUN taxlaw-2807 466 8 & & CCONJ taxlaw-2807 466 9 stead stead PROPN taxlaw-2807 466 10 , , PUNCT taxlaw-2807 466 11 supra supra PROPN taxlaw-2807 466 12 note note NOUN taxlaw-2807 466 13 15 15 NUM taxlaw-2807 466 14 , , PUNCT taxlaw-2807 466 15 at at ADP taxlaw-2807 466 16 1542–49 1542–49 NOUN taxlaw-2807 466 17 . . PUNCT taxlaw-2807 467 1 124 124 NUM taxlaw-2807 467 2 kaplow kaplow PROPN taxlaw-2807 467 3 , , PUNCT taxlaw-2807 467 4 supra supra PROPN taxlaw-2807 467 5 note note NOUN taxlaw-2807 467 6 120 120 NUM taxlaw-2807 467 7 , , PUNCT taxlaw-2807 467 8 at at ADP taxlaw-2807 467 9 36–37 36–37 PROPN taxlaw-2807 467 10 ( ( PUNCT taxlaw-2807 467 11 clarifying clarify VERB taxlaw-2807 467 12 what what PRON taxlaw-2807 467 13 his his PRON taxlaw-2807 467 14 objectives objective NOUN taxlaw-2807 467 15 were be AUX taxlaw-2807 467 16 after after ADP taxlaw-2807 467 17 claiming claim VERB taxlaw-2807 467 18 that that SCONJ taxlaw-2807 467 19 they they PRON taxlaw-2807 467 20 were be AUX taxlaw-2807 467 21 misunderstood misunderstood ADJ taxlaw-2807 467 22 ) ) PUNCT taxlaw-2807 467 23 . . PUNCT taxlaw-2807 468 1 125 125 NUM taxlaw-2807 468 2 lawrence lawrence NOUN taxlaw-2807 468 3 zelenak zelenak PROPN taxlaw-2807 468 4 , , PUNCT taxlaw-2807 468 5 the the DET taxlaw-2807 468 6 reification reification NOUN taxlaw-2807 468 7 of of ADP taxlaw-2807 468 8 metaphor metaphor NOUN taxlaw-2807 468 9 : : PUNCT taxlaw-2807 468 10 income income NOUN taxlaw-2807 468 11 taxes taxis NOUN taxlaw-2807 468 12 , , PUNCT taxlaw-2807 468 13 consumption consumption NOUN taxlaw-2807 468 14 taxes taxis NOUN taxlaw-2807 468 15 and and CCONJ taxlaw-2807 468 16 human human ADJ taxlaw-2807 468 17 capital capital NOUN taxlaw-2807 468 18 , , PUNCT taxlaw-2807 468 19 51 51 NUM taxlaw-2807 468 20 tax tax NOUN taxlaw-2807 468 21 l. l. PROPN taxlaw-2807 468 22 rev rev PROPN taxlaw-2807 468 23 . . PROPN taxlaw-2807 468 24 1 1 NUM taxlaw-2807 468 25 , , PUNCT taxlaw-2807 468 26 5 5 NUM taxlaw-2807 468 27 ( ( PUNCT taxlaw-2807 468 28 1995 1995 NUM taxlaw-2807 468 29 ) ) PUNCT taxlaw-2807 468 30 ; ; PUNCT taxlaw-2807 468 31 kaplow kaplow NOUN taxlaw-2807 468 32 , , PUNCT taxlaw-2807 468 33 supra supra PROPN taxlaw-2807 468 34 note note NOUN taxlaw-2807 468 35 120 120 NUM taxlaw-2807 468 36 , , PUNCT taxlaw-2807 468 37 at at ADP taxlaw-2807 468 38 38–39 38–39 NUM taxlaw-2807 468 39 ( ( PUNCT taxlaw-2807 468 40 firmly firmly ADV taxlaw-2807 468 41 disclaiming disclaim VERB taxlaw-2807 468 42 zelenak zelenak NOUN taxlaw-2807 468 43 ’s ’s PART taxlaw-2807 468 44 view view NOUN taxlaw-2807 468 45 ) ) PUNCT taxlaw-2807 468 46 . . PUNCT taxlaw-2807 469 1 126 126 NUM taxlaw-2807 469 2 benshalom benshalom NOUN taxlaw-2807 469 3 & & CCONJ taxlaw-2807 469 4 stead stead PROPN taxlaw-2807 469 5 , , PUNCT taxlaw-2807 469 6 supra supra PROPN taxlaw-2807 469 7 note note NOUN taxlaw-2807 469 8 15 15 NUM taxlaw-2807 469 9 , , PUNCT taxlaw-2807 469 10 at at ADP taxlaw-2807 469 11 1527–29 1527–29 NUM taxlaw-2807 469 12 . . PUNCT taxlaw-2807 470 1 127 127 NUM taxlaw-2807 470 2 kaplow kaplow NOUN taxlaw-2807 470 3 , , PUNCT taxlaw-2807 470 4 ideal ideal ADJ taxlaw-2807 470 5 income income NOUN taxlaw-2807 470 6 tax tax NOUN taxlaw-2807 470 7 , , PUNCT taxlaw-2807 470 8 supra supra PROPN taxlaw-2807 470 9 note note NOUN taxlaw-2807 470 10 122 122 NUM taxlaw-2807 470 11 , , PUNCT taxlaw-2807 470 12 at at ADP taxlaw-2807 470 13 1504 1504 NUM taxlaw-2807 470 14 . . PUNCT taxlaw-2807 471 1 128 128 NUM taxlaw-2807 472 1 it it PRON taxlaw-2807 472 2 is be AUX taxlaw-2807 472 3 important important ADJ taxlaw-2807 472 4 to to PART taxlaw-2807 472 5 note note VERB taxlaw-2807 472 6 that that SCONJ taxlaw-2807 472 7 the the DET taxlaw-2807 472 8 revealed reveal VERB taxlaw-2807 472 9 preference preference NOUN taxlaw-2807 472 10 of of ADP taxlaw-2807 472 11 owners owner NOUN taxlaw-2807 472 12 is be AUX taxlaw-2807 472 13 that that SCONJ taxlaw-2807 472 14 they they PRON taxlaw-2807 472 15 value value VERB taxlaw-2807 472 16 all all PRON taxlaw-2807 472 17 of of ADP taxlaw-2807 472 18 their their PRON taxlaw-2807 472 19 assets asset NOUN taxlaw-2807 472 20 ( ( PUNCT taxlaw-2807 472 21 not not PART taxlaw-2807 472 22 just just ADV taxlaw-2807 472 23 their their PRON taxlaw-2807 472 24 personal personal ADJ taxlaw-2807 472 25 assets asset NOUN taxlaw-2807 472 26 ) ) PUNCT taxlaw-2807 472 27 as as ADP taxlaw-2807 472 28 worth worth ADJ taxlaw-2807 472 29 more more ADJ taxlaw-2807 472 30 than than ADP taxlaw-2807 472 31 the the DET taxlaw-2807 472 32 market market NOUN taxlaw-2807 472 33 price price NOUN taxlaw-2807 472 34 — — PUNCT taxlaw-2807 472 35 since since SCONJ taxlaw-2807 472 36 otherwise otherwise ADV taxlaw-2807 472 37 they they PRON taxlaw-2807 472 38 would would AUX taxlaw-2807 472 39 sell sell VERB taxlaw-2807 472 40 them they PRON taxlaw-2807 472 41 . . PUNCT taxlaw-2807 473 1 for for ADP taxlaw-2807 473 2 this this DET taxlaw-2807 473 3 reason reason NOUN taxlaw-2807 473 4 we we PRON taxlaw-2807 473 5 define define VERB taxlaw-2807 473 6 personal personal ADJ taxlaw-2807 473 7 assets asset NOUN taxlaw-2807 473 8 as as SCONJ taxlaw-2807 473 9 those those DET taxlaw-2807 473 10 assets asset NOUN taxlaw-2807 473 11 were be AUX taxlaw-2807 473 12 there there PRON taxlaw-2807 473 13 is be VERB taxlaw-2807 473 14 a a DET taxlaw-2807 473 15 high high ADJ taxlaw-2807 473 16 probability probability NOUN taxlaw-2807 473 17 that that SCONJ taxlaw-2807 473 18 the the DET taxlaw-2807 473 19 subjective subjective ADJ taxlaw-2807 473 20 value value NOUN taxlaw-2807 473 21 is be AUX taxlaw-2807 473 22 significantly significantly ADV taxlaw-2807 473 23 higher high ADJ taxlaw-2807 473 24 than than ADP taxlaw-2807 473 25 the the DET taxlaw-2807 473 26 market market NOUN taxlaw-2807 473 27 value value NOUN taxlaw-2807 473 28 . . PUNCT taxlaw-2807 474 1 129 129 NUM taxlaw-2807 474 2 some some PRON taxlaw-2807 474 3 may may AUX taxlaw-2807 474 4 find find VERB taxlaw-2807 474 5 this this DET taxlaw-2807 474 6 argument argument NOUN taxlaw-2807 474 7 similar similar ADJ taxlaw-2807 474 8 to to ADP taxlaw-2807 474 9 a a DET taxlaw-2807 474 10 line line NOUN taxlaw-2807 474 11 of of ADP taxlaw-2807 474 12 property property NOUN taxlaw-2807 474 13 law law NOUN taxlaw-2807 474 14 literature literature NOUN taxlaw-2807 474 15 developed develop VERB taxlaw-2807 474 16 by by ADP taxlaw-2807 474 17 margaret margaret PROPN taxlaw-2807 474 18 radin radin PROPN taxlaw-2807 474 19 , , PUNCT taxlaw-2807 474 20 which which PRON taxlaw-2807 474 21 claims claim VERB taxlaw-2807 474 22 that that SCONJ taxlaw-2807 474 23 personal personal ADJ taxlaw-2807 474 24 assets asset NOUN taxlaw-2807 474 25 constitute constitute VERB taxlaw-2807 474 26 part part NOUN taxlaw-2807 474 27 of of ADP taxlaw-2807 474 28 individual individual ADJ taxlaw-2807 474 29 personhood personhood NOUN taxlaw-2807 474 30 . . PUNCT taxlaw-2807 475 1 see see VERB taxlaw-2807 475 2 margaret margaret PROPN taxlaw-2807 475 3 j. j. PROPN taxlaw-2807 475 4 radin radin PROPN taxlaw-2807 475 5 , , PUNCT taxlaw-2807 475 6 property property NOUN taxlaw-2807 475 7 and and CCONJ taxlaw-2807 475 8 personhood personhood NOUN taxlaw-2807 475 9 , , PUNCT taxlaw-2807 475 10 34 34 NUM taxlaw-2807 475 11 stan stan PROPN taxlaw-2807 475 12 . . PUNCT taxlaw-2807 476 1 l. l. PROPN taxlaw-2807 476 2 rev rev PROPN taxlaw-2807 476 3 . . PROPN taxlaw-2807 476 4 957 957 NUM taxlaw-2807 476 5 , , PUNCT taxlaw-2807 476 6 958 958 NUM taxlaw-2807 476 7 ( ( PUNCT taxlaw-2807 476 8 1982 1982 NUM taxlaw-2807 476 9 ) ) PUNCT taxlaw-2807 476 10 . . PUNCT taxlaw-2807 477 1 however however ADV taxlaw-2807 477 2 , , PUNCT taxlaw-2807 477 3 we we PRON taxlaw-2807 477 4 think think VERB taxlaw-2807 477 5 that that SCONJ taxlaw-2807 477 6 this this DET taxlaw-2807 477 7 article article NOUN taxlaw-2807 477 8 ’s ’s PART taxlaw-2807 477 9 argument argument NOUN taxlaw-2807 477 10 is be AUX taxlaw-2807 477 11 different different ADJ taxlaw-2807 477 12 and and CCONJ taxlaw-2807 477 13 easier easy ADJ taxlaw-2807 477 14 to to PART taxlaw-2807 477 15 accept accept VERB taxlaw-2807 477 16 . . PUNCT taxlaw-2807 478 1 rather rather ADV taxlaw-2807 478 2 than than ADP taxlaw-2807 478 3 arguing argue VERB taxlaw-2807 478 4 that that SCONJ taxlaw-2807 478 5 personal personal ADJ taxlaw-2807 478 6 assets asset NOUN taxlaw-2807 478 7 are be AUX taxlaw-2807 478 8 inherently inherently ADV taxlaw-2807 478 9 different different ADJ taxlaw-2807 478 10 , , PUNCT taxlaw-2807 478 11 we we PRON taxlaw-2807 478 12 merely merely ADV taxlaw-2807 478 13 observe observe VERB taxlaw-2807 478 14 that that SCONJ taxlaw-2807 478 15 people people NOUN taxlaw-2807 478 16 attach attach VERB taxlaw-2807 478 17 different different ADJ taxlaw-2807 478 18 values value NOUN taxlaw-2807 478 19 to to ADP taxlaw-2807 478 20 them they PRON taxlaw-2807 478 21 so so SCONJ taxlaw-2807 478 22 that that SCONJ taxlaw-2807 478 23 the the DET taxlaw-2807 478 24 trading trading NOUN taxlaw-2807 478 25 costs cost NOUN taxlaw-2807 478 26 ( ( PUNCT taxlaw-2807 478 27 or or CCONJ taxlaw-2807 478 28 the the DET taxlaw-2807 478 29 costs cost NOUN taxlaw-2807 478 30 of of ADP taxlaw-2807 478 31 detachment detachment NOUN taxlaw-2807 478 32 ) ) PUNCT taxlaw-2807 478 33 with with ADP taxlaw-2807 478 34 respect respect NOUN taxlaw-2807 478 35 to to ADP taxlaw-2807 478 36 these these DET taxlaw-2807 478 37 assets asset NOUN taxlaw-2807 478 38 are be AUX taxlaw-2807 478 39 often often ADV taxlaw-2807 478 40 very very ADV taxlaw-2807 478 41 high high ADJ taxlaw-2807 478 42 . . PUNCT taxlaw-2807 479 1 while while SCONJ taxlaw-2807 479 2 there there PRON taxlaw-2807 479 3 seems seem VERB taxlaw-2807 479 4 to to PART taxlaw-2807 479 5 be be AUX taxlaw-2807 479 6 strong strong ADJ taxlaw-2807 479 7 recognition recognition NOUN taxlaw-2807 479 8 that that SCONJ taxlaw-2807 479 9 these these DET taxlaw-2807 479 10 costs cost NOUN taxlaw-2807 479 11 exist exist VERB taxlaw-2807 479 12 , , PUNCT taxlaw-2807 479 13 there there PRON taxlaw-2807 479 14 is be VERB taxlaw-2807 479 15 some some DET taxlaw-2807 479 16 literature literature NOUN taxlaw-2807 479 17 suggesting suggest VERB taxlaw-2807 479 18 that that SCONJ taxlaw-2807 479 19 they they PRON taxlaw-2807 479 20 are be AUX taxlaw-2807 479 21 often often ADV taxlaw-2807 479 22 given give VERB taxlaw-2807 479 23 excessive excessive ADJ taxlaw-2807 479 24 weight weight NOUN taxlaw-2807 479 25 . . PUNCT taxlaw-2807 480 1 see see VERB taxlaw-2807 480 2 stephanie stephanie PROPN taxlaw-2807 480 3 m. m. PROPN taxlaw-2807 480 4 stern stern PROPN taxlaw-2807 480 5 , , PUNCT taxlaw-2807 480 6 residential residential ADJ taxlaw-2807 480 7 protectionism protectionism NOUN taxlaw-2807 480 8 and and CCONJ taxlaw-2807 480 9 the the DET taxlaw-2807 480 10 legal legal ADJ taxlaw-2807 480 11 mythology mythology NOUN taxlaw-2807 480 12 of of ADP taxlaw-2807 480 13 home home NOUN taxlaw-2807 480 14 , , PUNCT taxlaw-2807 480 15 107 107 NUM taxlaw-2807 480 16 mich mich X taxlaw-2807 480 17 . . PUNCT taxlaw-2807 481 1 l. l. PROPN taxlaw-2807 481 2 rev rev PROPN taxlaw-2807 481 3 . . PROPN taxlaw-2807 481 4 1093 1093 NUM taxlaw-2807 481 5 , , PUNCT taxlaw-2807 481 6 1110–24 1110–24 X taxlaw-2807 481 7 ( ( PUNCT taxlaw-2807 481 8 2009 2009 NUM taxlaw-2807 481 9 ) ) PUNCT taxlaw-2807 481 10 ( ( PUNCT taxlaw-2807 481 11 making make VERB taxlaw-2807 481 12 such such DET taxlaw-2807 481 13 an an DET taxlaw-2807 481 14 argument argument NOUN taxlaw-2807 481 15 with with ADP taxlaw-2807 481 16 respect respect NOUN taxlaw-2807 481 17 to to ADP taxlaw-2807 481 18 residential residential ADJ taxlaw-2807 481 19 homes home NOUN taxlaw-2807 481 20 ) ) PUNCT taxlaw-2807 481 21 . . PUNCT taxlaw-2807 482 1 2011 2011 NUM taxlaw-2807 482 2 ] ] PUNCT taxlaw-2807 482 3 realization realization NOUN taxlaw-2807 482 4 and and CCONJ taxlaw-2807 482 5 progressivity progressivity NOUN taxlaw-2807 482 6 65 65 NUM taxlaw-2807 482 7 of of ADP taxlaw-2807 482 8 personal personal ADJ taxlaw-2807 482 9 use use NOUN taxlaw-2807 482 10 or or CCONJ taxlaw-2807 482 11 those those PRON taxlaw-2807 482 12 that that PRON taxlaw-2807 482 13 involve involve VERB taxlaw-2807 482 14 significant significant ADJ taxlaw-2807 482 15 human human ADJ taxlaw-2807 482 16 capital capital NOUN taxlaw-2807 482 17 contributions contribution NOUN taxlaw-2807 482 18 of of ADP taxlaw-2807 482 19 the the DET taxlaw-2807 482 20 taxpayer taxpayer NOUN taxlaw-2807 482 21 or or CCONJ taxlaw-2807 482 22 of of ADP taxlaw-2807 482 23 his his PRON taxlaw-2807 482 24 relatives.130 relatives.130 NOUN taxlaw-2807 482 25 this this DET taxlaw-2807 482 26 definition definition NOUN taxlaw-2807 482 27 is be AUX taxlaw-2807 482 28 somewhat somewhat ADV taxlaw-2807 482 29 crude crude ADJ taxlaw-2807 482 30 and and CCONJ taxlaw-2807 482 31 overinclusive overinclusive ADJ taxlaw-2807 482 32 , , PUNCT taxlaw-2807 482 33 since since SCONJ taxlaw-2807 482 34 not not PART taxlaw-2807 482 35 every every DET taxlaw-2807 482 36 asset asset NOUN taxlaw-2807 482 37 that that PRON taxlaw-2807 482 38 comprises comprise VERB taxlaw-2807 482 39 private private ADJ taxlaw-2807 482 40 consumption consumption NOUN taxlaw-2807 482 41 or or CCONJ taxlaw-2807 482 42 has have VERB taxlaw-2807 482 43 human human ADJ taxlaw-2807 482 44 capital capital NOUN taxlaw-2807 482 45 embedded embed VERB taxlaw-2807 482 46 in in ADP taxlaw-2807 482 47 it it PRON taxlaw-2807 482 48 has have VERB taxlaw-2807 482 49 prohibitive prohibitive ADJ taxlaw-2807 482 50 personal personal ADJ taxlaw-2807 482 51 trading trading NOUN taxlaw-2807 482 52 costs cost NOUN taxlaw-2807 482 53 . . PUNCT taxlaw-2807 483 1 for for ADP taxlaw-2807 483 2 example example NOUN taxlaw-2807 483 3 , , PUNCT taxlaw-2807 483 4 the the DET taxlaw-2807 483 5 new new PROPN taxlaw-2807 483 6 york york PROPN taxlaw-2807 483 7 times times PROPN taxlaw-2807 483 8 is be AUX taxlaw-2807 483 9 a a DET taxlaw-2807 483 10 publicly publicly ADV taxlaw-2807 483 11 traded trade VERB taxlaw-2807 483 12 company company NOUN taxlaw-2807 483 13 , , PUNCT taxlaw-2807 483 14 yet yet CCONJ taxlaw-2807 483 15 it it PRON taxlaw-2807 483 16 is be AUX taxlaw-2807 483 17 controlled control VERB taxlaw-2807 483 18 by by ADP taxlaw-2807 483 19 the the DET taxlaw-2807 483 20 ochs och NOUN taxlaw-2807 483 21 - - PUNCT taxlaw-2807 483 22 sulzberger sulzberger NOUN taxlaw-2807 483 23 family family NOUN taxlaw-2807 483 24 . . PUNCT taxlaw-2807 484 1 should should AUX taxlaw-2807 484 2 the the DET taxlaw-2807 484 3 shares share NOUN taxlaw-2807 484 4 of of ADP taxlaw-2807 484 5 the the DET taxlaw-2807 484 6 family family NOUN taxlaw-2807 484 7 be be AUX taxlaw-2807 484 8 considered consider VERB taxlaw-2807 484 9 personal personal ADJ taxlaw-2807 484 10 while while SCONJ taxlaw-2807 484 11 all all DET taxlaw-2807 484 12 other other ADJ taxlaw-2807 484 13 shares share NOUN taxlaw-2807 484 14 are be AUX taxlaw-2807 484 15 non non ADJ taxlaw-2807 484 16 - - ADJ taxlaw-2807 484 17 personal personal ADJ taxlaw-2807 484 18 ? ? PUNCT taxlaw-2807 485 1 should should AUX taxlaw-2807 485 2 all all DET taxlaw-2807 485 3 members member NOUN taxlaw-2807 485 4 of of ADP taxlaw-2807 485 5 the the DET taxlaw-2807 485 6 family family NOUN taxlaw-2807 485 7 be be AUX taxlaw-2807 485 8 considered consider VERB taxlaw-2807 485 9 as as ADP taxlaw-2807 485 10 involved involve VERB taxlaw-2807 485 11 with with ADP taxlaw-2807 485 12 the the DET taxlaw-2807 485 13 corporation corporation NOUN taxlaw-2807 485 14 or or CCONJ taxlaw-2807 485 15 only only ADV taxlaw-2807 485 16 those those PRON taxlaw-2807 485 17 that that PRON taxlaw-2807 485 18 have have AUX taxlaw-2807 485 19 invested invest VERB taxlaw-2807 485 20 their their PRON taxlaw-2807 485 21 human human ADJ taxlaw-2807 485 22 capital capital NOUN taxlaw-2807 485 23 ? ? PUNCT taxlaw-2807 486 1 this this DET taxlaw-2807 486 2 issue issue NOUN taxlaw-2807 486 3 is be AUX taxlaw-2807 486 4 of of ADP taxlaw-2807 486 5 crucial crucial ADJ taxlaw-2807 486 6 importance importance NOUN taxlaw-2807 486 7 , , PUNCT taxlaw-2807 486 8 since since SCONJ taxlaw-2807 486 9 much much ADJ taxlaw-2807 486 10 of of ADP taxlaw-2807 486 11 the the DET taxlaw-2807 486 12 wealth wealth NOUN taxlaw-2807 486 13 owned own VERB taxlaw-2807 486 14 by by ADP taxlaw-2807 486 15 affluent affluent ADJ taxlaw-2807 486 16 taxpayers taxpayer NOUN taxlaw-2807 486 17 is be AUX taxlaw-2807 486 18 in in ADP taxlaw-2807 486 19 the the DET taxlaw-2807 486 20 form form NOUN taxlaw-2807 486 21 of of ADP taxlaw-2807 486 22 equity equity NOUN taxlaw-2807 486 23 investment investment NOUN taxlaw-2807 486 24 in in ADP taxlaw-2807 486 25 closely closely ADV taxlaw-2807 486 26 held hold VERB taxlaw-2807 486 27 businesses business NOUN taxlaw-2807 486 28 , , PUNCT taxlaw-2807 486 29 which which PRON taxlaw-2807 486 30 arguably arguably ADV taxlaw-2807 486 31 could could AUX taxlaw-2807 486 32 be be AUX taxlaw-2807 486 33 considered consider VERB taxlaw-2807 486 34 personal personal ADJ taxlaw-2807 486 35 assets.131 assets.131 NOUN taxlaw-2807 486 36 the the DET taxlaw-2807 486 37 above above ADJ taxlaw-2807 486 38 questions question NOUN taxlaw-2807 486 39 are be AUX taxlaw-2807 486 40 indeed indeed ADV taxlaw-2807 486 41 vexing vex VERB taxlaw-2807 486 42 , , PUNCT taxlaw-2807 486 43 but but CCONJ taxlaw-2807 486 44 we we PRON taxlaw-2807 486 45 believe believe VERB taxlaw-2807 486 46 that that SCONJ taxlaw-2807 486 47 a a DET taxlaw-2807 486 48 more more ADV taxlaw-2807 486 49 precise precise ADJ taxlaw-2807 486 50 definition definition NOUN taxlaw-2807 486 51 is be AUX taxlaw-2807 486 52 not not PART taxlaw-2807 486 53 necessary necessary ADJ taxlaw-2807 486 54 at at ADP taxlaw-2807 486 55 this this DET taxlaw-2807 486 56 stage stage NOUN taxlaw-2807 486 57 . . PUNCT taxlaw-2807 487 1 as as SCONJ taxlaw-2807 487 2 we we PRON taxlaw-2807 487 3 discuss discuss VERB taxlaw-2807 487 4 in in ADP taxlaw-2807 487 5 part part NOUN taxlaw-2807 487 6 iv iv ADP taxlaw-2807 487 7 , , PUNCT taxlaw-2807 487 8 with with ADP taxlaw-2807 487 9 a a DET taxlaw-2807 487 10 few few ADJ taxlaw-2807 487 11 refinements refinement NOUN taxlaw-2807 487 12 , , PUNCT taxlaw-2807 487 13 the the DET taxlaw-2807 487 14 broad broad ADJ taxlaw-2807 487 15 definition definition NOUN taxlaw-2807 487 16 we we PRON taxlaw-2807 487 17 provide provide VERB taxlaw-2807 487 18 for for ADP taxlaw-2807 487 19 personal personal ADJ taxlaw-2807 487 20 assets asset NOUN taxlaw-2807 487 21 suffices suffice NOUN taxlaw-2807 487 22 for for ADP taxlaw-2807 487 23 the the DET taxlaw-2807 487 24 purposes purpose NOUN taxlaw-2807 487 25 of of ADP taxlaw-2807 487 26 promoting promote VERB taxlaw-2807 487 27 real real ADJ taxlaw-2807 487 28 - - PUNCT taxlaw-2807 487 29 world world NOUN taxlaw-2807 487 30 reform reform NOUN taxlaw-2807 487 31 recommendations.132 recommendations.132 VERB taxlaw-2807 487 32 hence hence ADV taxlaw-2807 487 33 , , PUNCT taxlaw-2807 487 34 to to PART taxlaw-2807 487 35 develop develop VERB taxlaw-2807 487 36 the the DET taxlaw-2807 487 37 normative normative ADJ taxlaw-2807 487 38 argument argument NOUN taxlaw-2807 487 39 , , PUNCT taxlaw-2807 487 40 this this DET taxlaw-2807 487 41 part part NOUN taxlaw-2807 487 42 assumes assume VERB taxlaw-2807 487 43 it it PRON taxlaw-2807 487 44 is be AUX taxlaw-2807 487 45 possible possible ADJ taxlaw-2807 487 46 to to PART taxlaw-2807 487 47 distinguish distinguish VERB taxlaw-2807 487 48 between between ADP taxlaw-2807 487 49 emotionally emotionally ADV taxlaw-2807 487 50 non non ADJ taxlaw-2807 487 51 - - ADJ taxlaw-2807 487 52 fungible fungible ADJ taxlaw-2807 487 53 ( ( PUNCT taxlaw-2807 487 54 personal personal ADJ taxlaw-2807 487 55 ) ) PUNCT taxlaw-2807 487 56 assets asset NOUN taxlaw-2807 487 57 and and CCONJ taxlaw-2807 487 58 other other ADJ taxlaw-2807 487 59 assets asset NOUN taxlaw-2807 487 60 . . PUNCT taxlaw-2807 488 1 while while SCONJ taxlaw-2807 488 2 the the DET taxlaw-2807 488 3 task task NOUN taxlaw-2807 488 4 of of ADP taxlaw-2807 488 5 translating translate VERB taxlaw-2807 488 6 this this DET taxlaw-2807 488 7 argument argument NOUN taxlaw-2807 488 8 and and CCONJ taxlaw-2807 488 9 its its PRON taxlaw-2807 488 10 conclusions conclusion NOUN taxlaw-2807 488 11 to to ADP taxlaw-2807 488 12 concrete concrete ADJ taxlaw-2807 488 13 policy policy NOUN taxlaw-2807 488 14 measures measure NOUN taxlaw-2807 488 15 is be AUX taxlaw-2807 488 16 taken take VERB taxlaw-2807 488 17 up up ADP taxlaw-2807 488 18 in in ADP taxlaw-2807 488 19 detail detail NOUN taxlaw-2807 488 20 only only ADV taxlaw-2807 488 21 in in ADP taxlaw-2807 488 22 part part NOUN taxlaw-2807 488 23 iv iv NUM taxlaw-2807 488 24 , , PUNCT taxlaw-2807 488 25 it it PRON taxlaw-2807 488 26 is be AUX taxlaw-2807 488 27 worthwhile worthwhile ADJ taxlaw-2807 488 28 to to PART taxlaw-2807 488 29 note note VERB taxlaw-2807 488 30 a a DET taxlaw-2807 488 31 few few ADJ taxlaw-2807 488 32 of of ADP taxlaw-2807 488 33 our our PRON taxlaw-2807 488 34 conclusions conclusion NOUN taxlaw-2807 488 35 to to PART taxlaw-2807 488 36 assure assure VERB taxlaw-2807 488 37 the the DET taxlaw-2807 488 38 skeptical skeptical ADJ taxlaw-2807 488 39 reader reader NOUN taxlaw-2807 488 40 of of ADP taxlaw-2807 488 41 the the DET taxlaw-2807 488 42 practical practical ADJ taxlaw-2807 488 43 value value NOUN taxlaw-2807 488 44 of of ADP taxlaw-2807 488 45 our our PRON taxlaw-2807 488 46 argument argument NOUN taxlaw-2807 488 47 . . PUNCT taxlaw-2807 489 1 first first ADV taxlaw-2807 489 2 , , PUNCT taxlaw-2807 489 3 investment investment NOUN taxlaw-2807 489 4 assets asset NOUN taxlaw-2807 489 5 , , PUNCT taxlaw-2807 489 6 which which PRON taxlaw-2807 489 7 are be AUX taxlaw-2807 489 8 already already ADV taxlaw-2807 489 9 defined define VERB taxlaw-2807 489 10 in in ADP taxlaw-2807 489 11 the the DET taxlaw-2807 489 12 code code NOUN taxlaw-2807 489 13 for for ADP taxlaw-2807 489 14 many many ADJ taxlaw-2807 489 15 purposes purpose NOUN taxlaw-2807 489 16 , , PUNCT taxlaw-2807 489 17 and and CCONJ taxlaw-2807 489 18 are be AUX taxlaw-2807 489 19 ( ( PUNCT taxlaw-2807 489 20 almost almost ADV taxlaw-2807 489 21 by by ADP taxlaw-2807 489 22 definition definition NOUN taxlaw-2807 489 23 ) ) PUNCT taxlaw-2807 489 24 non non ADJ taxlaw-2807 489 25 - - ADJ taxlaw-2807 489 26 personal personal ADJ taxlaw-2807 489 27 , , PUNCT taxlaw-2807 489 28 could could AUX taxlaw-2807 489 29 be be AUX taxlaw-2807 489 30 taxed tax VERB taxlaw-2807 489 31 on on ADP taxlaw-2807 489 32 a a DET taxlaw-2807 489 33 mark mark NOUN taxlaw-2807 489 34 - - PUNCT taxlaw-2807 489 35 tomarket tomarket NOUN taxlaw-2807 489 36 basis basis NOUN taxlaw-2807 489 37 . . PUNCT taxlaw-2807 490 1 this this DET taxlaw-2807 490 2 partial partial ADJ taxlaw-2807 490 3 shift shift NOUN taxlaw-2807 490 4 to to ADP taxlaw-2807 490 5 a a DET taxlaw-2807 490 6 mark mark VERB taxlaw-2807 490 7 - - PUNCT taxlaw-2807 490 8 to to ADP taxlaw-2807 490 9 - - PUNCT taxlaw-2807 490 10 market market NOUN taxlaw-2807 490 11 regime regime NOUN taxlaw-2807 490 12 would would AUX taxlaw-2807 490 13 be be AUX taxlaw-2807 490 14 a a DET taxlaw-2807 490 15 significant significant ADJ taxlaw-2807 490 16 and and CCONJ taxlaw-2807 490 17 administrable administrable ADJ taxlaw-2807 490 18 reform reform NOUN taxlaw-2807 490 19 , , PUNCT taxlaw-2807 490 20 which which PRON taxlaw-2807 490 21 would would AUX taxlaw-2807 490 22 not not PART taxlaw-2807 490 23 require require VERB taxlaw-2807 490 24 a a DET taxlaw-2807 490 25 full full ADJ taxlaw-2807 490 26 definition definition NOUN taxlaw-2807 490 27 of of ADP taxlaw-2807 490 28 personal personal ADJ taxlaw-2807 490 29 assets asset NOUN taxlaw-2807 490 30 . . PUNCT taxlaw-2807 491 1 second second ADJ taxlaw-2807 491 2 , , PUNCT taxlaw-2807 491 3 to to PART taxlaw-2807 491 4 accommodate accommodate VERB taxlaw-2807 491 5 revenue revenue NOUN taxlaw-2807 491 6 , , PUNCT taxlaw-2807 491 7 distributional distributional ADJ taxlaw-2807 491 8 considerations consideration NOUN taxlaw-2807 491 9 , , PUNCT taxlaw-2807 491 10 and and CCONJ taxlaw-2807 491 11 concerns concern NOUN taxlaw-2807 491 12 over over ADP taxlaw-2807 491 13 tax tax NOUN taxlaw-2807 491 14 avoidance avoidance NOUN taxlaw-2807 491 15 , , PUNCT taxlaw-2807 491 16 we we PRON taxlaw-2807 491 17 suggest suggest VERB taxlaw-2807 491 18 that that SCONJ taxlaw-2807 491 19 tax tax NOUN taxlaw-2807 491 20 authorities authority NOUN taxlaw-2807 491 21 cap cap VERB taxlaw-2807 491 22 the the DET taxlaw-2807 491 23 amount amount NOUN taxlaw-2807 491 24 of of ADP taxlaw-2807 491 25 personal personal ADJ taxlaw-2807 491 26 assets asset NOUN taxlaw-2807 491 27 that that PRON taxlaw-2807 491 28 should should AUX taxlaw-2807 491 29 be be AUX taxlaw-2807 491 30 taxed tax VERB taxlaw-2807 491 31 only only ADV taxlaw-2807 491 32 upon upon SCONJ taxlaw-2807 491 33 realization realization NOUN taxlaw-2807 491 34 at at ADP taxlaw-2807 491 35 a a DET taxlaw-2807 491 36 certain certain ADJ taxlaw-2807 491 37 fair fair ADJ taxlaw-2807 491 38 market market NOUN taxlaw-2807 491 39 value.133 value.133 VERB taxlaw-2807 491 40 our our PRON taxlaw-2807 491 41 analysis analysis NOUN taxlaw-2807 491 42 departs depart VERB taxlaw-2807 491 43 from from ADP taxlaw-2807 491 44 the the DET taxlaw-2807 491 45 notion notion NOUN taxlaw-2807 491 46 that that SCONJ taxlaw-2807 491 47 even even ADV taxlaw-2807 491 48 though though SCONJ taxlaw-2807 491 49 there there PRON taxlaw-2807 491 50 are be VERB taxlaw-2807 491 51 significant significant ADJ taxlaw-2807 491 52 differences difference NOUN taxlaw-2807 491 53 from from ADP taxlaw-2807 491 54 person person NOUN taxlaw-2807 491 55 - - PUNCT taxlaw-2807 491 56 to to ADP taxlaw-2807 491 57 - - PUNCT taxlaw-2807 491 58 person person NOUN taxlaw-2807 491 59 as as ADP taxlaw-2807 491 60 to to ADP taxlaw-2807 491 61 what what PRON taxlaw-2807 491 62 assets asset NOUN taxlaw-2807 491 63 are be AUX taxlaw-2807 491 64 emotionally emotionally ADV taxlaw-2807 491 65 non non ADJ taxlaw-2807 491 66 - - ADJ taxlaw-2807 491 67 fungible fungible ADJ taxlaw-2807 491 68 , , PUNCT taxlaw-2807 491 69 there there PRON taxlaw-2807 491 70 are be VERB taxlaw-2807 491 71 categories category NOUN taxlaw-2807 491 72 of of ADP taxlaw-2807 491 73 assets asset NOUN taxlaw-2807 491 74 whose whose DET taxlaw-2807 491 75 values value NOUN taxlaw-2807 491 76 are be AUX taxlaw-2807 491 77 very very ADV taxlaw-2807 491 78 unlikely unlikely ADJ taxlaw-2807 491 79 to to PART taxlaw-2807 491 80 have have VERB taxlaw-2807 491 81 such such ADJ taxlaw-2807 491 82 idiosyncratic idiosyncratic ADJ taxlaw-2807 491 83 psychological psychological ADJ taxlaw-2807 491 84 components component NOUN taxlaw-2807 491 85 ( ( PUNCT taxlaw-2807 491 86 e.g. e.g. ADV taxlaw-2807 491 87 , , PUNCT taxlaw-2807 491 88 publicly publicly ADV taxlaw-2807 491 89 traded trade VERB taxlaw-2807 491 90 assets asset NOUN taxlaw-2807 491 91 held hold VERB taxlaw-2807 491 92 by by ADP taxlaw-2807 491 93 portfolio portfolio NOUN taxlaw-2807 491 94 investors).134 investors).134 PROPN taxlaw-2807 491 95 similarly similarly ADV taxlaw-2807 491 96 , , PUNCT taxlaw-2807 491 97 there there PRON taxlaw-2807 491 98 are be VERB taxlaw-2807 491 99 broad broad ADJ taxlaw-2807 491 100 categories category NOUN taxlaw-2807 491 101 of of ADP taxlaw-2807 491 102 items item NOUN taxlaw-2807 491 103 — — PUNCT taxlaw-2807 491 104 such such ADJ taxlaw-2807 491 105 as as ADP taxlaw-2807 491 106 inherited inherit VERB taxlaw-2807 491 107 family family NOUN taxlaw-2807 491 108 jewelry jewelry NOUN taxlaw-2807 491 109 , , PUNCT taxlaw-2807 491 110 homes home NOUN taxlaw-2807 491 111 , , PUNCT taxlaw-2807 491 112 and and CCONJ taxlaw-2807 491 113 self self NOUN taxlaw-2807 491 114 - - PUNCT taxlaw-2807 491 115 created create VERB taxlaw-2807 491 116 artwork artwork NOUN taxlaw-2807 491 117 — — PUNCT taxlaw-2807 491 118 for for ADP taxlaw-2807 491 119 which which PRON taxlaw-2807 491 120 we we PRON taxlaw-2807 491 121 can can AUX taxlaw-2807 491 122 reasonably reasonably ADV taxlaw-2807 491 123 assume assume VERB taxlaw-2807 491 124 a a DET taxlaw-2807 491 125 substantial substantial ADJ taxlaw-2807 491 126 gap gap NOUN taxlaw-2807 491 127 between between ADP taxlaw-2807 491 128 taxpayers taxpayer NOUN taxlaw-2807 491 129 ’ ’ PART taxlaw-2807 491 130 subjective subjective ADJ taxlaw-2807 491 131 value value NOUN taxlaw-2807 491 132 and and CCONJ taxlaw-2807 491 133 the the DET taxlaw-2807 491 134 market market NOUN taxlaw-2807 491 135 price price NOUN taxlaw-2807 491 136 . . PUNCT taxlaw-2807 492 1 with with ADP taxlaw-2807 492 2 respect respect NOUN taxlaw-2807 492 3 to to ADP taxlaw-2807 492 4 these these DET taxlaw-2807 492 5 emotionally emotionally ADV taxlaw-2807 492 6 nonfungible nonfungible ADJ taxlaw-2807 492 7 personal personal ADJ taxlaw-2807 492 8 assets asset NOUN taxlaw-2807 492 9 , , PUNCT taxlaw-2807 492 10 the the DET taxlaw-2807 492 11 existence existence NOUN taxlaw-2807 492 12 of of ADP taxlaw-2807 492 13 this this DET taxlaw-2807 492 14 value value NOUN taxlaw-2807 492 15 gap gap NOUN taxlaw-2807 492 16 can can AUX taxlaw-2807 492 17 be be AUX taxlaw-2807 492 18 assumed assume VERB taxlaw-2807 492 19 with with ADP taxlaw-2807 492 20 relatively relatively ADV taxlaw-2807 492 21 great great ADJ taxlaw-2807 492 22 certainty certainty NOUN taxlaw-2807 492 23 , , PUNCT taxlaw-2807 492 24 but but CCONJ taxlaw-2807 492 25 the the DET taxlaw-2807 492 26 size size NOUN taxlaw-2807 492 27 of of ADP taxlaw-2807 492 28 this this DET taxlaw-2807 492 29 gap gap NOUN taxlaw-2807 492 30 varies vary VERB taxlaw-2807 492 31 heterogeneously heterogeneously ADV taxlaw-2807 492 32 and and CCONJ taxlaw-2807 492 33 is be AUX taxlaw-2807 492 34 not not PART taxlaw-2807 492 35 observable observable ADJ taxlaw-2807 492 36 . . PUNCT taxlaw-2807 493 1 while while SCONJ taxlaw-2807 493 2 many many ADJ taxlaw-2807 493 3 people people NOUN taxlaw-2807 493 4 may may AUX taxlaw-2807 493 5 view view VERB taxlaw-2807 493 6 their their PRON taxlaw-2807 493 7 grandmother grandmother NOUN taxlaw-2807 493 8 ’s ’s PART taxlaw-2807 493 9 wedding wedding NOUN taxlaw-2807 493 10 veil veil NOUN taxlaw-2807 493 11 as as ADP taxlaw-2807 493 12 a a DET taxlaw-2807 493 13 precious precious ADJ taxlaw-2807 493 14 heirloom heirloom NOUN taxlaw-2807 493 15 , , PUNCT taxlaw-2807 493 16 only only ADV taxlaw-2807 493 17 few few ADJ taxlaw-2807 493 18 would would AUX taxlaw-2807 493 19 consider consider VERB taxlaw-2807 493 20 it it PRON taxlaw-2807 493 21 priceless priceless VERB taxlaw-2807 493 22 , , PUNCT taxlaw-2807 493 23 most most ADJ taxlaw-2807 493 24 would would AUX taxlaw-2807 493 25 be be AUX taxlaw-2807 493 26 willing willing ADJ taxlaw-2807 493 27 to to PART taxlaw-2807 493 28 sell sell VERB taxlaw-2807 493 29 it it PRON taxlaw-2807 493 30 eventually eventually ADV taxlaw-2807 493 31 if if SCONJ taxlaw-2807 493 32 offered offer VERB taxlaw-2807 493 33 enough enough ADJ taxlaw-2807 493 34 money money NOUN taxlaw-2807 493 35 , , PUNCT taxlaw-2807 493 36 and and CCONJ taxlaw-2807 493 37 some some PRON taxlaw-2807 493 38 would would AUX taxlaw-2807 493 39 sell sell VERB taxlaw-2807 493 40 it it PRON taxlaw-2807 493 41 immediately immediately ADV taxlaw-2807 493 42 for for ADP taxlaw-2807 493 43 the the DET taxlaw-2807 493 44 highest high ADJ taxlaw-2807 493 45 bid bid NOUN taxlaw-2807 493 46 a a DET taxlaw-2807 493 47 craigslist craigslist NOUN taxlaw-2807 493 48 post post NOUN taxlaw-2807 493 49 could could AUX taxlaw-2807 493 50 drum drum VERB taxlaw-2807 493 51 up up ADP taxlaw-2807 493 52 . . PUNCT taxlaw-2807 494 1 any any DET taxlaw-2807 494 2 attempt attempt NOUN taxlaw-2807 494 3 to to PART taxlaw-2807 494 4 base base VERB taxlaw-2807 494 5 tax tax NOUN taxlaw-2807 494 6 treatment treatment NOUN taxlaw-2807 494 7 on on ADP taxlaw-2807 494 8 the the DET taxlaw-2807 494 9 market market NOUN taxlaw-2807 494 10 value value NOUN taxlaw-2807 494 11 of of ADP taxlaw-2807 494 12 these these DET taxlaw-2807 494 13 assets asset NOUN taxlaw-2807 494 14 would would AUX taxlaw-2807 494 15 carry carry VERB taxlaw-2807 494 16 a a DET taxlaw-2807 494 17 serious serious ADJ taxlaw-2807 494 18 risk risk NOUN taxlaw-2807 494 19 of of ADP taxlaw-2807 494 20 error error NOUN taxlaw-2807 494 21 . . PUNCT taxlaw-2807 495 1 an an DET taxlaw-2807 495 2 example example NOUN taxlaw-2807 495 3 may may AUX taxlaw-2807 495 4 help help VERB taxlaw-2807 495 5 to to PART taxlaw-2807 495 6 show show VERB taxlaw-2807 495 7 why why SCONJ taxlaw-2807 495 8 the the DET taxlaw-2807 495 9 market market NOUN taxlaw-2807 495 10 price price NOUN taxlaw-2807 495 11 is be AUX taxlaw-2807 495 12 a a DET taxlaw-2807 495 13 poor poor ADJ taxlaw-2807 495 14 indication indication NOUN taxlaw-2807 495 15 of of ADP taxlaw-2807 495 16 the the DET taxlaw-2807 495 17 value value NOUN taxlaw-2807 495 18 of of ADP taxlaw-2807 495 19 personal personal ADJ taxlaw-2807 495 20 assets asset NOUN taxlaw-2807 495 21 . . PUNCT taxlaw-2807 496 1 imagine imagine VERB taxlaw-2807 496 2 two two NUM taxlaw-2807 496 3 individuals individual NOUN taxlaw-2807 496 4 , , PUNCT taxlaw-2807 496 5 both both PRON taxlaw-2807 496 6 of of ADP taxlaw-2807 496 7 whom whom PRON taxlaw-2807 496 8 value value VERB taxlaw-2807 496 9 their their PRON taxlaw-2807 496 10 kidneys kidney NOUN taxlaw-2807 496 11 , , PUNCT taxlaw-2807 496 12 130 130 NUM taxlaw-2807 496 13 the the DET taxlaw-2807 496 14 tax tax NOUN taxlaw-2807 496 15 code code NOUN taxlaw-2807 496 16 employs employ VERB taxlaw-2807 496 17 a a DET taxlaw-2807 496 18 somewhat somewhat ADV taxlaw-2807 496 19 similar similar ADJ taxlaw-2807 496 20 definition definition NOUN taxlaw-2807 496 21 of of ADP taxlaw-2807 496 22 which which PRON taxlaw-2807 496 23 relatives relative NOUN taxlaw-2807 496 24 count count VERB taxlaw-2807 496 25 as as ADP taxlaw-2807 496 26 related related ADJ taxlaw-2807 496 27 parties party NOUN taxlaw-2807 496 28 and and CCONJ taxlaw-2807 496 29 accordingly accordingly ADV taxlaw-2807 496 30 employs employ VERB taxlaw-2807 496 31 special special ADJ taxlaw-2807 496 32 rules rule NOUN taxlaw-2807 496 33 for for ADP taxlaw-2807 496 34 transactions transaction NOUN taxlaw-2807 496 35 between between ADP taxlaw-2807 496 36 them they PRON taxlaw-2807 496 37 . . PUNCT taxlaw-2807 497 1 see see VERB taxlaw-2807 497 2 i.r.c i.r.c NOUN taxlaw-2807 497 3 . . PUNCT taxlaw-2807 498 1 § § PROPN taxlaw-2807 498 2 267 267 NUM taxlaw-2807 498 3 ( ( PUNCT taxlaw-2807 498 4 west west NOUN taxlaw-2807 498 5 supp supp PROPN taxlaw-2807 498 6 . . PUNCT taxlaw-2807 499 1 2010 2010 NUM taxlaw-2807 499 2 ) ) PUNCT taxlaw-2807 499 3 . . PUNCT taxlaw-2807 500 1 131 131 NUM taxlaw-2807 500 2 see see NOUN taxlaw-2807 500 3 kennickel kennickel NOUN taxlaw-2807 500 4 , , PUNCT taxlaw-2807 500 5 supra supra PROPN taxlaw-2807 500 6 note note PROPN taxlaw-2807 500 7 114 114 NUM taxlaw-2807 500 8 , , PUNCT taxlaw-2807 500 9 at at ADP taxlaw-2807 500 10 53–55 53–55 NUM taxlaw-2807 500 11 . . PUNCT taxlaw-2807 501 1 see see VERB taxlaw-2807 501 2 also also ADV taxlaw-2807 501 3 infra infra VERB taxlaw-2807 501 4 appendix appendix NOUN taxlaw-2807 501 5 . . PUNCT taxlaw-2807 502 1 132 132 NUM taxlaw-2807 502 2 see see VERB taxlaw-2807 502 3 infra infra NOUN taxlaw-2807 502 4 notes note VERB taxlaw-2807 502 5 185–199 185–199 NUM taxlaw-2807 502 6 and and CCONJ taxlaw-2807 502 7 accompanying accompany VERB taxlaw-2807 502 8 text text NOUN taxlaw-2807 502 9 . . PUNCT taxlaw-2807 503 1 133 133 NUM taxlaw-2807 503 2 see see VERB taxlaw-2807 503 3 infra infra NOUN taxlaw-2807 503 4 notes note VERB taxlaw-2807 503 5 205–206 205–206 NUM taxlaw-2807 503 6 . . PUNCT taxlaw-2807 504 1 134 134 NUM taxlaw-2807 504 2 see see NOUN taxlaw-2807 504 3 infra infra NOUN taxlaw-2807 504 4 note note VERB taxlaw-2807 504 5 142 142 NUM taxlaw-2807 504 6 and and CCONJ taxlaw-2807 504 7 accompanying accompany VERB taxlaw-2807 504 8 text text NOUN taxlaw-2807 504 9 . . PUNCT taxlaw-2807 505 1 66 66 NUM taxlaw-2807 505 2 columbia columbia PROPN taxlaw-2807 505 3 journal journal NOUN taxlaw-2807 505 4 of of ADP taxlaw-2807 505 5 tax tax NOUN taxlaw-2807 505 6 law law NOUN taxlaw-2807 505 7 [ [ X taxlaw-2807 505 8 vol.3:43 vol.3:43 PROPN taxlaw-2807 505 9 family family NOUN taxlaw-2807 505 10 homes home NOUN taxlaw-2807 505 11 , , PUNCT taxlaw-2807 505 12 and and CCONJ taxlaw-2807 505 13 employment employment NOUN taxlaw-2807 505 14 as as ADP taxlaw-2807 505 15 law law NOUN taxlaw-2807 505 16 professors professor NOUN taxlaw-2807 505 17 as as ADP taxlaw-2807 505 18 priceless.135 priceless.135 VERB taxlaw-2807 505 19 the the DET taxlaw-2807 505 20 market market NOUN taxlaw-2807 505 21 , , PUNCT taxlaw-2807 505 22 however however ADV taxlaw-2807 505 23 , , PUNCT taxlaw-2807 505 24 values value VERB taxlaw-2807 505 25 the the DET taxlaw-2807 505 26 kidney kidney NOUN taxlaw-2807 505 27 of of ADP taxlaw-2807 505 28 one one NUM taxlaw-2807 505 29 professor professor NOUN taxlaw-2807 505 30 as as ADP taxlaw-2807 505 31 worthless worthless ADJ taxlaw-2807 505 32 ( ( PUNCT taxlaw-2807 505 33 not not PART taxlaw-2807 505 34 because because SCONJ taxlaw-2807 505 35 she she PRON taxlaw-2807 505 36 is be AUX taxlaw-2807 505 37 not not PART taxlaw-2807 505 38 healthy healthy ADJ taxlaw-2807 505 39 but but CCONJ taxlaw-2807 505 40 simply simply ADV taxlaw-2807 505 41 because because SCONJ taxlaw-2807 505 42 there there PRON taxlaw-2807 505 43 are be VERB taxlaw-2807 505 44 very very ADV taxlaw-2807 505 45 few few ADJ taxlaw-2807 505 46 , , PUNCT taxlaw-2807 505 47 mostly mostly ADV taxlaw-2807 505 48 poor poor ADJ taxlaw-2807 505 49 people people NOUN taxlaw-2807 505 50 who who PRON taxlaw-2807 505 51 could could AUX taxlaw-2807 505 52 receive receive VERB taxlaw-2807 505 53 a a DET taxlaw-2807 505 54 transplant transplant NOUN taxlaw-2807 505 55 from from ADP taxlaw-2807 505 56 her she PRON taxlaw-2807 505 57 ) ) PUNCT taxlaw-2807 505 58 and and CCONJ taxlaw-2807 505 59 the the DET taxlaw-2807 505 60 other other ADJ taxlaw-2807 505 61 ’s ’s NOUN taxlaw-2807 505 62 as as ADV taxlaw-2807 505 63 worth worth ADJ taxlaw-2807 505 64 one one NUM taxlaw-2807 505 65 million million NUM taxlaw-2807 505 66 dollars dollar NOUN taxlaw-2807 505 67 ( ( PUNCT taxlaw-2807 505 68 again again ADV taxlaw-2807 505 69 not not PART taxlaw-2807 505 70 because because SCONJ taxlaw-2807 505 71 she she PRON taxlaw-2807 505 72 is be AUX taxlaw-2807 505 73 particularly particularly ADV taxlaw-2807 505 74 healthy healthy ADJ taxlaw-2807 505 75 but but CCONJ taxlaw-2807 505 76 because because SCONJ taxlaw-2807 505 77 she she PRON taxlaw-2807 505 78 happens happen VERB taxlaw-2807 505 79 to to PART taxlaw-2807 505 80 have have VERB taxlaw-2807 505 81 a a DET taxlaw-2807 505 82 kidney kidney NOUN taxlaw-2807 505 83 that that PRON taxlaw-2807 505 84 is be AUX taxlaw-2807 505 85 in in ADP taxlaw-2807 505 86 high high ADJ taxlaw-2807 505 87 demand demand NOUN taxlaw-2807 505 88 by by ADP taxlaw-2807 505 89 silicon silicon PROPN taxlaw-2807 505 90 valley valley PROPN taxlaw-2807 505 91 ceos ceos PROPN taxlaw-2807 505 92 ) ) PUNCT taxlaw-2807 505 93 . . PUNCT taxlaw-2807 506 1 in in ADP taxlaw-2807 506 2 the the DET taxlaw-2807 506 3 same same ADJ taxlaw-2807 506 4 manner manner NOUN taxlaw-2807 506 5 , , PUNCT taxlaw-2807 506 6 the the DET taxlaw-2807 506 7 market market NOUN taxlaw-2807 506 8 assesses assess VERB taxlaw-2807 506 9 a a DET taxlaw-2807 506 10 negative negative ADJ taxlaw-2807 506 11 value value NOUN taxlaw-2807 506 12 to to ADP taxlaw-2807 506 13 one one NUM taxlaw-2807 506 14 ’s ’s PART taxlaw-2807 506 15 home home NOUN taxlaw-2807 506 16 ( ( PUNCT taxlaw-2807 506 17 because because SCONJ taxlaw-2807 506 18 a a DET taxlaw-2807 506 19 correctional correctional ADJ taxlaw-2807 506 20 facility facility NOUN taxlaw-2807 506 21 is be AUX taxlaw-2807 506 22 being be AUX taxlaw-2807 506 23 built build VERB taxlaw-2807 506 24 nearby nearby ADV taxlaw-2807 506 25 ) ) PUNCT taxlaw-2807 506 26 and and CCONJ taxlaw-2807 506 27 a a DET taxlaw-2807 506 28 value value NOUN taxlaw-2807 506 29 of of ADP taxlaw-2807 506 30 one one NUM taxlaw-2807 506 31 million million NUM taxlaw-2807 506 32 dollars dollar NOUN taxlaw-2807 506 33 to to ADP taxlaw-2807 506 34 the the DET taxlaw-2807 506 35 other other ADJ taxlaw-2807 506 36 ’s ’s PART taxlaw-2807 506 37 home home NOUN taxlaw-2807 506 38 ( ( PUNCT taxlaw-2807 506 39 because because SCONJ taxlaw-2807 506 40 a a DET taxlaw-2807 506 41 new new ADJ taxlaw-2807 506 42 technological technological ADJ taxlaw-2807 506 43 park park NOUN taxlaw-2807 506 44 is be AUX taxlaw-2807 506 45 being be AUX taxlaw-2807 506 46 built build VERB taxlaw-2807 506 47 fifteen fifteen NUM taxlaw-2807 506 48 minutes minute NOUN taxlaw-2807 506 49 away away ADV taxlaw-2807 506 50 ) ) PUNCT taxlaw-2807 506 51 . . PUNCT taxlaw-2807 507 1 furthermore furthermore ADV taxlaw-2807 507 2 , , PUNCT taxlaw-2807 507 3 their their PRON taxlaw-2807 507 4 human human ADJ taxlaw-2807 507 5 capital capital NOUN taxlaw-2807 507 6 is be AUX taxlaw-2807 507 7 priced price VERB taxlaw-2807 507 8 dramatically dramatically ADV taxlaw-2807 507 9 differently differently ADV taxlaw-2807 507 10 by by ADP taxlaw-2807 507 11 the the DET taxlaw-2807 507 12 market market NOUN taxlaw-2807 507 13 : : PUNCT taxlaw-2807 507 14 while while SCONJ taxlaw-2807 507 15 the the DET taxlaw-2807 507 16 former former NOUN taxlaw-2807 507 17 has have VERB taxlaw-2807 507 18 the the DET taxlaw-2807 507 19 skills skill NOUN taxlaw-2807 507 20 to to PART taxlaw-2807 507 21 be be AUX taxlaw-2807 507 22 a a DET taxlaw-2807 507 23 successful successful ADJ taxlaw-2807 507 24 human human ADJ taxlaw-2807 507 25 and and CCONJ taxlaw-2807 507 26 labor labor NOUN taxlaw-2807 507 27 rights right NOUN taxlaw-2807 507 28 lawyer lawyer NOUN taxlaw-2807 507 29 , , PUNCT taxlaw-2807 507 30 earning earn VERB taxlaw-2807 507 31 close close ADV taxlaw-2807 507 32 to to ADP taxlaw-2807 507 33 minimum minimum ADJ taxlaw-2807 507 34 wage wage NOUN taxlaw-2807 507 35 , , PUNCT taxlaw-2807 507 36 the the DET taxlaw-2807 507 37 other other ADJ taxlaw-2807 507 38 possesses possess VERB taxlaw-2807 507 39 the the DET taxlaw-2807 507 40 capacity capacity NOUN taxlaw-2807 507 41 to to PART taxlaw-2807 507 42 be be AUX taxlaw-2807 507 43 a a DET taxlaw-2807 507 44 generously generously ADV taxlaw-2807 507 45 compensated compensate VERB taxlaw-2807 507 46 tax tax NOUN taxlaw-2807 507 47 planner planner NOUN taxlaw-2807 507 48 to to ADP taxlaw-2807 507 49 high high ADJ taxlaw-2807 507 50 net net ADJ taxlaw-2807 507 51 worth worth ADJ taxlaw-2807 507 52 individuals individual NOUN taxlaw-2807 507 53 . . PUNCT taxlaw-2807 508 1 while while SCONJ taxlaw-2807 508 2 the the DET taxlaw-2807 508 3 well well ADV taxlaw-2807 508 4 - - PUNCT taxlaw-2807 508 5 being being NOUN taxlaw-2807 508 6 of of ADP taxlaw-2807 508 7 these these DET taxlaw-2807 508 8 two two NUM taxlaw-2807 508 9 individuals individual NOUN taxlaw-2807 508 10 seems seem VERB taxlaw-2807 508 11 to to PART taxlaw-2807 508 12 be be AUX taxlaw-2807 508 13 rather rather ADV taxlaw-2807 508 14 similar similar ADJ taxlaw-2807 508 15 , , PUNCT taxlaw-2807 508 16 their their PRON taxlaw-2807 508 17 tax tax NOUN taxlaw-2807 508 18 liabilities liability NOUN taxlaw-2807 508 19 under under ADP taxlaw-2807 508 20 a a DET taxlaw-2807 508 21 full full ADJ taxlaw-2807 508 22 mark mark NOUN taxlaw-2807 508 23 - - PUNCT taxlaw-2807 508 24 to to ADP taxlaw-2807 508 25 - - PUNCT taxlaw-2807 508 26 market market NOUN taxlaw-2807 508 27 tax tax NOUN taxlaw-2807 508 28 regime regime NOUN taxlaw-2807 508 29 would would AUX taxlaw-2807 508 30 be be AUX taxlaw-2807 508 31 radically radically ADV taxlaw-2807 508 32 different different ADJ taxlaw-2807 508 33 because because SCONJ taxlaw-2807 508 34 the the DET taxlaw-2807 508 35 personal personal ADJ taxlaw-2807 508 36 assets asset NOUN taxlaw-2807 508 37 they they PRON taxlaw-2807 508 38 own own VERB taxlaw-2807 508 39 , , PUNCT taxlaw-2807 508 40 which which PRON taxlaw-2807 508 41 neither neither PRON taxlaw-2807 508 42 of of ADP taxlaw-2807 508 43 them they PRON taxlaw-2807 508 44 intends intend VERB taxlaw-2807 508 45 to to PART taxlaw-2807 508 46 put put VERB taxlaw-2807 508 47 on on ADP taxlaw-2807 508 48 the the DET taxlaw-2807 508 49 market market NOUN taxlaw-2807 508 50 , , PUNCT taxlaw-2807 508 51 are be AUX taxlaw-2807 508 52 quite quite ADV taxlaw-2807 508 53 differently differently ADV taxlaw-2807 508 54 priced price VERB taxlaw-2807 508 55 . . PUNCT taxlaw-2807 509 1 most most ADJ taxlaw-2807 509 2 people people NOUN taxlaw-2807 509 3 would would AUX taxlaw-2807 509 4 probably probably ADV taxlaw-2807 509 5 consider consider VERB taxlaw-2807 509 6 this this DET taxlaw-2807 509 7 type type NOUN taxlaw-2807 509 8 of of ADP taxlaw-2807 509 9 interpersonal interpersonal ADJ taxlaw-2807 509 10 comparison comparison NOUN taxlaw-2807 509 11 arbitrary arbitrary ADJ taxlaw-2807 509 12 and and CCONJ taxlaw-2807 509 13 unreasonable unreasonable ADJ taxlaw-2807 509 14 for for ADP taxlaw-2807 509 15 tax tax NOUN taxlaw-2807 509 16 purposes purpose NOUN taxlaw-2807 509 17 , , PUNCT taxlaw-2807 509 18 because because SCONJ taxlaw-2807 509 19 the the DET taxlaw-2807 509 20 essence essence NOUN taxlaw-2807 509 21 of of ADP taxlaw-2807 509 22 the the DET taxlaw-2807 509 23 price price NOUN taxlaw-2807 509 24 signal signal NOUN taxlaw-2807 509 25 is be AUX taxlaw-2807 509 26 what what PRON taxlaw-2807 509 27 others other NOUN taxlaw-2807 509 28 will will AUX taxlaw-2807 509 29 pay pay VERB taxlaw-2807 509 30 for for ADP taxlaw-2807 509 31 assets asset NOUN taxlaw-2807 509 32 if if SCONJ taxlaw-2807 509 33 they they PRON taxlaw-2807 509 34 were be AUX taxlaw-2807 509 35 put put VERB taxlaw-2807 509 36 on on ADP taxlaw-2807 509 37 the the DET taxlaw-2807 509 38 market market NOUN taxlaw-2807 509 39 . . PUNCT taxlaw-2807 510 1 in in ADP taxlaw-2807 510 2 contrast contrast NOUN taxlaw-2807 510 3 , , PUNCT taxlaw-2807 510 4 the the DET taxlaw-2807 510 5 market market NOUN taxlaw-2807 510 6 price price NOUN taxlaw-2807 510 7 would would AUX taxlaw-2807 510 8 offer offer VERB taxlaw-2807 510 9 a a DET taxlaw-2807 510 10 valid valid ADJ taxlaw-2807 510 11 proxy proxy NOUN taxlaw-2807 510 12 for for ADP taxlaw-2807 510 13 well well ADV taxlaw-2807 510 14 - - PUNCT taxlaw-2807 510 15 being be AUX taxlaw-2807 510 16 if if SCONJ taxlaw-2807 510 17 each each PRON taxlaw-2807 510 18 of of ADP taxlaw-2807 510 19 the the DET taxlaw-2807 510 20 professors professor NOUN taxlaw-2807 510 21 chose choose VERB taxlaw-2807 510 22 to to PART taxlaw-2807 510 23 sell sell VERB taxlaw-2807 510 24 these these DET taxlaw-2807 510 25 personal personal ADJ taxlaw-2807 510 26 assets asset NOUN taxlaw-2807 510 27 . . PUNCT taxlaw-2807 511 1 when when SCONJ taxlaw-2807 511 2 the the DET taxlaw-2807 511 3 professors professor NOUN taxlaw-2807 511 4 choose choose VERB taxlaw-2807 511 5 to to PART taxlaw-2807 511 6 sell sell VERB taxlaw-2807 511 7 their their PRON taxlaw-2807 511 8 family family NOUN taxlaw-2807 511 9 homes home NOUN taxlaw-2807 511 10 , , PUNCT taxlaw-2807 511 11 they they PRON taxlaw-2807 511 12 signal signal VERB taxlaw-2807 511 13 that that SCONJ taxlaw-2807 511 14 they they PRON taxlaw-2807 511 15 accept accept VERB taxlaw-2807 511 16 that that SCONJ taxlaw-2807 511 17 the the DET taxlaw-2807 511 18 market market NOUN taxlaw-2807 511 19 valuation valuation NOUN taxlaw-2807 511 20 of of ADP taxlaw-2807 511 21 the the DET taxlaw-2807 511 22 properties property NOUN taxlaw-2807 511 23 is be AUX taxlaw-2807 511 24 greater great ADJ taxlaw-2807 511 25 or or CCONJ taxlaw-2807 511 26 equal equal ADJ taxlaw-2807 511 27 to to ADP taxlaw-2807 511 28 the the DET taxlaw-2807 511 29 subjective subjective ADJ taxlaw-2807 511 30 values value NOUN taxlaw-2807 511 31 they they PRON taxlaw-2807 511 32 assign assign VERB taxlaw-2807 511 33 to to ADP taxlaw-2807 511 34 them they PRON taxlaw-2807 511 35 . . PUNCT taxlaw-2807 512 1 this this DET taxlaw-2807 512 2 acceptance acceptance NOUN taxlaw-2807 512 3 of of ADP taxlaw-2807 512 4 the the DET taxlaw-2807 512 5 market market NOUN taxlaw-2807 512 6 equilibrium equilibrium NOUN taxlaw-2807 512 7 validates validate VERB taxlaw-2807 512 8 the the DET taxlaw-2807 512 9 market market NOUN taxlaw-2807 512 10 price price NOUN taxlaw-2807 512 11 as as ADP taxlaw-2807 512 12 a a DET taxlaw-2807 512 13 good good ADJ taxlaw-2807 512 14 proxy proxy NOUN taxlaw-2807 512 15 for for ADP taxlaw-2807 512 16 their their PRON taxlaw-2807 512 17 economic economic ADJ taxlaw-2807 512 18 wellbeing wellbeing NOUN taxlaw-2807 512 19 , , PUNCT taxlaw-2807 512 20 and and CCONJ taxlaw-2807 512 21 this this DET taxlaw-2807 512 22 validation validation NOUN taxlaw-2807 512 23 makes make VERB taxlaw-2807 512 24 it it PRON taxlaw-2807 512 25 a a DET taxlaw-2807 512 26 relevant relevant ADJ taxlaw-2807 512 27 benchmark benchmark NOUN taxlaw-2807 512 28 for for ADP taxlaw-2807 512 29 tax tax NOUN taxlaw-2807 512 30 redistribution redistribution NOUN taxlaw-2807 512 31 . . PUNCT taxlaw-2807 513 1 this this DET taxlaw-2807 513 2 analysis analysis NOUN taxlaw-2807 513 3 does do AUX taxlaw-2807 513 4 not not PART taxlaw-2807 513 5 mean mean VERB taxlaw-2807 513 6 to to PART taxlaw-2807 513 7 suggest suggest VERB taxlaw-2807 513 8 that that SCONJ taxlaw-2807 513 9 , , PUNCT taxlaw-2807 513 10 with with ADP taxlaw-2807 513 11 respect respect NOUN taxlaw-2807 513 12 to to ADP taxlaw-2807 513 13 all all DET taxlaw-2807 513 14 personal personal ADJ taxlaw-2807 513 15 assets asset NOUN taxlaw-2807 513 16 , , PUNCT taxlaw-2807 513 17 a a DET taxlaw-2807 513 18 voluntary voluntary ADJ taxlaw-2807 513 19 transaction transaction NOUN taxlaw-2807 513 20 is be AUX taxlaw-2807 513 21 always always ADV taxlaw-2807 513 22 an an DET taxlaw-2807 513 23 indicator indicator NOUN taxlaw-2807 513 24 of of ADP taxlaw-2807 513 25 well well ADV taxlaw-2807 513 26 - - PUNCT taxlaw-2807 513 27 being.136 being.136 NOUN taxlaw-2807 513 28 on on ADP taxlaw-2807 513 29 aggregate aggregate ADJ taxlaw-2807 513 30 , , PUNCT taxlaw-2807 513 31 however however ADV taxlaw-2807 513 32 , , PUNCT taxlaw-2807 513 33 the the DET taxlaw-2807 513 34 market market NOUN taxlaw-2807 513 35 return return NOUN taxlaw-2807 513 36 for for ADP taxlaw-2807 513 37 the the DET taxlaw-2807 513 38 actual actual ADJ taxlaw-2807 513 39 use use NOUN taxlaw-2807 513 40 or or CCONJ taxlaw-2807 513 41 sale sale NOUN taxlaw-2807 513 42 of of ADP taxlaw-2807 513 43 personal personal ADJ taxlaw-2807 513 44 assets asset NOUN taxlaw-2807 513 45 offers offer VERB taxlaw-2807 513 46 a a DET taxlaw-2807 513 47 good good ADJ taxlaw-2807 513 48 proxy proxy NOUN taxlaw-2807 513 49 for for ADP taxlaw-2807 513 50 economic economic ADJ taxlaw-2807 513 51 wellbeing wellbeing NOUN taxlaw-2807 513 52 , , PUNCT taxlaw-2807 513 53 which which PRON taxlaw-2807 513 54 is be AUX taxlaw-2807 513 55 not not PART taxlaw-2807 513 56 the the DET taxlaw-2807 513 57 case case NOUN taxlaw-2807 513 58 when when SCONJ taxlaw-2807 513 59 the the DET taxlaw-2807 513 60 market market NOUN taxlaw-2807 513 61 price price NOUN taxlaw-2807 513 62 is be AUX taxlaw-2807 513 63 hypothetical hypothetical ADJ taxlaw-2807 513 64 . . PUNCT taxlaw-2807 514 1 for for ADP taxlaw-2807 514 2 tax tax NOUN taxlaw-2807 514 3 purposes purpose NOUN taxlaw-2807 514 4 , , PUNCT taxlaw-2807 514 5 it it PRON taxlaw-2807 514 6 is be AUX taxlaw-2807 514 7 difficult difficult ADJ taxlaw-2807 514 8 to to PART taxlaw-2807 514 9 draw draw VERB taxlaw-2807 514 10 a a DET taxlaw-2807 514 11 meaningful meaningful ADJ taxlaw-2807 514 12 interpersonal interpersonal ADJ taxlaw-2807 514 13 comparison comparison NOUN taxlaw-2807 514 14 of of ADP taxlaw-2807 514 15 well well ADV taxlaw-2807 514 16 - - PUNCT taxlaw-2807 514 17 being being NOUN taxlaw-2807 514 18 by by ADP taxlaw-2807 514 19 focusing focus VERB taxlaw-2807 514 20 only only ADV taxlaw-2807 514 21 on on ADP taxlaw-2807 514 22 the the DET taxlaw-2807 514 23 market market NOUN taxlaw-2807 514 24 value value NOUN taxlaw-2807 514 25 of of ADP taxlaw-2807 514 26 personal personal ADJ taxlaw-2807 514 27 assets asset NOUN taxlaw-2807 514 28 . . PUNCT taxlaw-2807 515 1 in in ADP taxlaw-2807 515 2 the the DET taxlaw-2807 515 3 context context NOUN taxlaw-2807 515 4 of of ADP taxlaw-2807 515 5 these these DET taxlaw-2807 515 6 assets asset NOUN taxlaw-2807 515 7 , , PUNCT taxlaw-2807 515 8 the the DET taxlaw-2807 515 9 market market NOUN taxlaw-2807 515 10 value value NOUN taxlaw-2807 515 11 offers offer VERB taxlaw-2807 515 12 only only ADV taxlaw-2807 515 13 a a DET taxlaw-2807 515 14 poor poor ADJ taxlaw-2807 515 15 proxy proxy NOUN taxlaw-2807 515 16 for for ADP taxlaw-2807 515 17 individual individual ADJ taxlaw-2807 515 18 well well NOUN taxlaw-2807 515 19 - - PUNCT taxlaw-2807 515 20 being being NOUN taxlaw-2807 515 21 because because SCONJ taxlaw-2807 515 22 the the DET taxlaw-2807 515 23 subjective subjective ADJ taxlaw-2807 515 24 value value NOUN taxlaw-2807 515 25 of of ADP taxlaw-2807 515 26 how how SCONJ taxlaw-2807 515 27 to to PART taxlaw-2807 515 28 use use VERB taxlaw-2807 515 29 these these DET taxlaw-2807 515 30 personal personal ADJ taxlaw-2807 515 31 assets asset NOUN taxlaw-2807 515 32 is be AUX taxlaw-2807 515 33 determined determine VERB taxlaw-2807 515 34 by by ADP taxlaw-2807 515 35 a a DET taxlaw-2807 515 36 complicated complicated ADJ taxlaw-2807 515 37 metric metric NOUN taxlaw-2807 515 38 . . PUNCT taxlaw-2807 516 1 in in ADP taxlaw-2807 516 2 contrast contrast NOUN taxlaw-2807 516 3 , , PUNCT taxlaw-2807 516 4 market market NOUN taxlaw-2807 516 5 pricing pricing NOUN taxlaw-2807 516 6 is be AUX taxlaw-2807 516 7 a a DET taxlaw-2807 516 8 one one NUM taxlaw-2807 516 9 - - PUNCT taxlaw-2807 516 10 dimensional dimensional ADJ taxlaw-2807 516 11 process process NOUN taxlaw-2807 516 12 that that PRON taxlaw-2807 516 13 aggregates aggregate VERB taxlaw-2807 516 14 the the DET taxlaw-2807 516 15 maximum maximum ADJ taxlaw-2807 516 16 cash cash NOUN taxlaw-2807 516 17 flow flow NOUN taxlaw-2807 516 18 a a DET taxlaw-2807 516 19 certain certain ADJ taxlaw-2807 516 20 asset asset NOUN taxlaw-2807 516 21 could could AUX taxlaw-2807 516 22 be be AUX taxlaw-2807 516 23 expected expect VERB taxlaw-2807 516 24 to to PART taxlaw-2807 516 25 yield yield VERB taxlaw-2807 516 26 if if SCONJ taxlaw-2807 516 27 put put VERB taxlaw-2807 516 28 on on ADP taxlaw-2807 516 29 the the DET taxlaw-2807 516 30 market market NOUN taxlaw-2807 516 31 . . PUNCT taxlaw-2807 517 1 simply simply ADV taxlaw-2807 517 2 put put VERB taxlaw-2807 517 3 , , PUNCT taxlaw-2807 517 4 the the DET taxlaw-2807 517 5 market market NOUN taxlaw-2807 517 6 values value NOUN taxlaw-2807 517 7 of of ADP taxlaw-2807 517 8 assets asset NOUN taxlaw-2807 517 9 such such ADJ taxlaw-2807 517 10 as as ADP taxlaw-2807 517 11 our our PRON taxlaw-2807 517 12 human human ADJ taxlaw-2807 517 13 capital capital NOUN taxlaw-2807 517 14 are be AUX taxlaw-2807 517 15 poor poor ADJ taxlaw-2807 517 16 indicators indicator NOUN taxlaw-2807 517 17 of of ADP taxlaw-2807 517 18 our our PRON taxlaw-2807 517 19 well well ADV taxlaw-2807 517 20 - - PUNCT taxlaw-2807 517 21 being being NOUN taxlaw-2807 517 22 and and CCONJ taxlaw-2807 517 23 therefore therefore ADV taxlaw-2807 517 24 should should AUX taxlaw-2807 517 25 not not PART taxlaw-2807 517 26 be be AUX taxlaw-2807 517 27 used use VERB taxlaw-2807 517 28 by by ADP taxlaw-2807 517 29 the the DET taxlaw-2807 517 30 tax tax NOUN taxlaw-2807 517 31 system system NOUN taxlaw-2807 517 32 for for ADP taxlaw-2807 517 33 interpersonal interpersonal ADJ taxlaw-2807 517 34 comparisons comparison NOUN taxlaw-2807 517 35 . . PUNCT taxlaw-2807 518 1 135 135 NUM taxlaw-2807 518 2 since since SCONJ taxlaw-2807 518 3 for for ADP taxlaw-2807 518 4 many many ADJ taxlaw-2807 518 5 economically economically ADV taxlaw-2807 518 6 oriented orient VERB taxlaw-2807 518 7 readers reader NOUN taxlaw-2807 518 8 the the DET taxlaw-2807 518 9 term term NOUN taxlaw-2807 518 10 “ " PUNCT taxlaw-2807 518 11 priceless priceless NOUN taxlaw-2807 518 12 ” " PUNCT taxlaw-2807 518 13 would would AUX taxlaw-2807 518 14 seem seem VERB taxlaw-2807 518 15 naïve naïve ADJ taxlaw-2807 518 16 or or CCONJ taxlaw-2807 518 17 hypocritical hypocritical ADJ taxlaw-2807 518 18 , , PUNCT taxlaw-2807 518 19 one one PRON taxlaw-2807 518 20 can can AUX taxlaw-2807 518 21 assume assume VERB taxlaw-2807 518 22 for for ADP taxlaw-2807 518 23 the the DET taxlaw-2807 518 24 purposes purpose NOUN taxlaw-2807 518 25 of of ADP taxlaw-2807 518 26 this this DET taxlaw-2807 518 27 article article NOUN taxlaw-2807 518 28 that that PRON taxlaw-2807 518 29 priceless priceless NOUN taxlaw-2807 518 30 equals equal VERB taxlaw-2807 518 31 “ " PUNCT taxlaw-2807 518 32 anything anything PRON taxlaw-2807 518 33 around around ADV taxlaw-2807 518 34 5 5 NUM taxlaw-2807 518 35 million million NUM taxlaw-2807 518 36 dollars dollar NOUN taxlaw-2807 518 37 . . PUNCT taxlaw-2807 518 38 ” " PUNCT taxlaw-2807 519 1 136 136 NUM taxlaw-2807 519 2 for for ADP taxlaw-2807 519 3 example example NOUN taxlaw-2807 519 4 , , PUNCT taxlaw-2807 519 5 one one PRON taxlaw-2807 519 6 can can AUX taxlaw-2807 519 7 assume assume VERB taxlaw-2807 519 8 that that SCONJ taxlaw-2807 519 9 if if SCONJ taxlaw-2807 519 10 the the DET taxlaw-2807 519 11 professors professor NOUN taxlaw-2807 519 12 did do AUX taxlaw-2807 519 13 sell sell VERB taxlaw-2807 519 14 their their PRON taxlaw-2807 519 15 kidneys kidney NOUN taxlaw-2807 519 16 they they PRON taxlaw-2807 519 17 would would AUX taxlaw-2807 519 18 do do VERB taxlaw-2807 519 19 so so ADV taxlaw-2807 519 20 out out ADP taxlaw-2807 519 21 of of ADP taxlaw-2807 519 22 dire dire ADJ taxlaw-2807 519 23 need need NOUN taxlaw-2807 519 24 — — PUNCT taxlaw-2807 519 25 so so SCONJ taxlaw-2807 519 26 that that SCONJ taxlaw-2807 519 27 any any DET taxlaw-2807 519 28 market market NOUN taxlaw-2807 519 29 return return NOUN taxlaw-2807 519 30 on on ADP taxlaw-2807 519 31 this this DET taxlaw-2807 519 32 sale sale NOUN taxlaw-2807 519 33 would would AUX taxlaw-2807 519 34 likely likely ADV taxlaw-2807 519 35 fall fall VERB taxlaw-2807 519 36 short short ADV taxlaw-2807 519 37 of of ADP taxlaw-2807 519 38 being be AUX taxlaw-2807 519 39 a a DET taxlaw-2807 519 40 reliable reliable ADJ taxlaw-2807 519 41 proxy proxy NOUN taxlaw-2807 519 42 for for ADP taxlaw-2807 519 43 their their PRON taxlaw-2807 519 44 economic economic ADJ taxlaw-2807 519 45 well well NOUN taxlaw-2807 519 46 - - PUNCT taxlaw-2807 519 47 being being NOUN taxlaw-2807 519 48 . . PUNCT taxlaw-2807 520 1 this this DET taxlaw-2807 520 2 claim claim NOUN taxlaw-2807 520 3 is be AUX taxlaw-2807 520 4 valid valid ADJ taxlaw-2807 520 5 , , PUNCT taxlaw-2807 520 6 and and CCONJ taxlaw-2807 520 7 as as SCONJ taxlaw-2807 520 8 we we PRON taxlaw-2807 520 9 discuss discuss VERB taxlaw-2807 520 10 in in ADP taxlaw-2807 520 11 the the DET taxlaw-2807 520 12 next next ADJ taxlaw-2807 520 13 subpart subpart NOUN taxlaw-2807 520 14 , , PUNCT taxlaw-2807 520 15 there there PRON taxlaw-2807 520 16 may may AUX taxlaw-2807 520 17 be be AUX taxlaw-2807 520 18 times time NOUN taxlaw-2807 520 19 in in ADP taxlaw-2807 520 20 which which PRON taxlaw-2807 520 21 certain certain ADJ taxlaw-2807 520 22 assets asset NOUN taxlaw-2807 520 23 should should AUX taxlaw-2807 520 24 be be AUX taxlaw-2807 520 25 exempt exempt ADJ taxlaw-2807 520 26 altogether altogether ADV taxlaw-2807 520 27 rather rather ADV taxlaw-2807 520 28 than than ADP taxlaw-2807 520 29 taxed tax VERB taxlaw-2807 520 30 upon upon SCONJ taxlaw-2807 520 31 realization realization NOUN taxlaw-2807 520 32 . . PUNCT taxlaw-2807 521 1 however however ADV taxlaw-2807 521 2 , , PUNCT taxlaw-2807 521 3 such such ADJ taxlaw-2807 521 4 exceptions exception NOUN taxlaw-2807 521 5 leave leave VERB taxlaw-2807 521 6 the the DET taxlaw-2807 521 7 main main ADJ taxlaw-2807 521 8 premise premise NOUN taxlaw-2807 521 9 unshaken unshaken ADJ taxlaw-2807 521 10 . . PUNCT taxlaw-2807 522 1 2011 2011 NUM taxlaw-2807 522 2 ] ] PUNCT taxlaw-2807 522 3 realization realization NOUN taxlaw-2807 522 4 and and CCONJ taxlaw-2807 522 5 progressivity progressivity NOUN taxlaw-2807 522 6 67 67 NUM taxlaw-2807 522 7 welfare welfare NOUN taxlaw-2807 522 8 , , PUNCT taxlaw-2807 522 9 as as SCONJ taxlaw-2807 522 10 mentioned mention VERB taxlaw-2807 522 11 , , PUNCT taxlaw-2807 522 12 is be AUX taxlaw-2807 522 13 not not PART taxlaw-2807 522 14 the the DET taxlaw-2807 522 15 only only ADJ taxlaw-2807 522 16 possible possible ADJ taxlaw-2807 522 17 currency currency NOUN taxlaw-2807 522 18 of of ADP taxlaw-2807 522 19 justice,137 justice,137 PROPN taxlaw-2807 522 20 and and CCONJ taxlaw-2807 522 21 some some DET taxlaw-2807 522 22 important important ADJ taxlaw-2807 522 23 theories theory NOUN taxlaw-2807 522 24 indeed indeed ADV taxlaw-2807 522 25 rely rely VERB taxlaw-2807 522 26 on on ADP taxlaw-2807 522 27 more more ADJ taxlaw-2807 522 28 objective objective ADJ taxlaw-2807 522 29 measurements measurement NOUN taxlaw-2807 522 30 of of ADP taxlaw-2807 522 31 economic economic ADJ taxlaw-2807 522 32 wellbeing.138 wellbeing.138 NOUN taxlaw-2807 522 33 our our PRON taxlaw-2807 522 34 example example NOUN taxlaw-2807 522 35 assumes assume VERB taxlaw-2807 522 36 that that SCONJ taxlaw-2807 522 37 both both DET taxlaw-2807 522 38 professors professor NOUN taxlaw-2807 522 39 derive derive VERB taxlaw-2807 522 40 similar similar ADJ taxlaw-2807 522 41 welfare welfare NOUN taxlaw-2807 522 42 from from ADP taxlaw-2807 522 43 their their PRON taxlaw-2807 522 44 personal personal ADJ taxlaw-2807 522 45 assets asset NOUN taxlaw-2807 522 46 , , PUNCT taxlaw-2807 522 47 but but CCONJ taxlaw-2807 522 48 this this DET taxlaw-2807 522 49 assumption assumption NOUN taxlaw-2807 522 50 is be AUX taxlaw-2807 522 51 not not PART taxlaw-2807 522 52 necessary necessary ADJ taxlaw-2807 522 53 . . PUNCT taxlaw-2807 523 1 one one PRON taxlaw-2807 523 2 can can AUX taxlaw-2807 523 3 reasonably reasonably ADV taxlaw-2807 523 4 argue argue VERB taxlaw-2807 523 5 that that SCONJ taxlaw-2807 523 6 both both DET taxlaw-2807 523 7 professors professor NOUN taxlaw-2807 523 8 are be AUX taxlaw-2807 523 9 similarly similarly ADV taxlaw-2807 523 10 positioned position VERB taxlaw-2807 523 11 , , PUNCT taxlaw-2807 523 12 in in ADP taxlaw-2807 523 13 objective objective ADJ taxlaw-2807 523 14 terms term NOUN taxlaw-2807 523 15 , , PUNCT taxlaw-2807 523 16 regardless regardless ADV taxlaw-2807 523 17 of of ADP taxlaw-2807 523 18 how how SCONJ taxlaw-2807 523 19 they they PRON taxlaw-2807 523 20 value value VERB taxlaw-2807 523 21 their their PRON taxlaw-2807 523 22 personal personal ADJ taxlaw-2807 523 23 assets asset NOUN taxlaw-2807 523 24 . . PUNCT taxlaw-2807 524 1 each each PRON taxlaw-2807 524 2 of of ADP taxlaw-2807 524 3 them they PRON taxlaw-2807 524 4 has have VERB taxlaw-2807 524 5 a a DET taxlaw-2807 524 6 primary primary ADJ taxlaw-2807 524 7 residence residence NOUN taxlaw-2807 524 8 that that SCONJ taxlaw-2807 524 9 she she PRON taxlaw-2807 524 10 was be AUX taxlaw-2807 524 11 able able ADJ taxlaw-2807 524 12 to to PART taxlaw-2807 524 13 choose choose VERB taxlaw-2807 524 14 , , PUNCT taxlaw-2807 524 15 a a DET taxlaw-2807 524 16 job job NOUN taxlaw-2807 524 17 that that PRON taxlaw-2807 524 18 allows allow VERB taxlaw-2807 524 19 her she PRON taxlaw-2807 524 20 to to PART taxlaw-2807 524 21 meet meet VERB taxlaw-2807 524 22 her her PRON taxlaw-2807 524 23 financial financial ADJ taxlaw-2807 524 24 objectives objective NOUN taxlaw-2807 524 25 and and CCONJ taxlaw-2807 524 26 promote promote VERB taxlaw-2807 524 27 her her PRON taxlaw-2807 524 28 intellectual intellectual ADJ taxlaw-2807 524 29 interests interest NOUN taxlaw-2807 524 30 , , PUNCT taxlaw-2807 524 31 and and CCONJ taxlaw-2807 524 32 a a DET taxlaw-2807 524 33 healthy healthy ADJ taxlaw-2807 524 34 body body NOUN taxlaw-2807 524 35 . . PUNCT taxlaw-2807 525 1 to to PART taxlaw-2807 525 2 accept accept VERB taxlaw-2807 525 3 our our PRON taxlaw-2807 525 4 analysis analysis NOUN taxlaw-2807 525 5 , , PUNCT taxlaw-2807 525 6 one one PRON taxlaw-2807 525 7 has have VERB taxlaw-2807 525 8 only only ADV taxlaw-2807 525 9 to to PART taxlaw-2807 525 10 accept accept VERB taxlaw-2807 525 11 that that SCONJ taxlaw-2807 525 12 the the DET taxlaw-2807 525 13 market market NOUN taxlaw-2807 525 14 price price NOUN taxlaw-2807 525 15 does do AUX taxlaw-2807 525 16 not not PART taxlaw-2807 525 17 capture capture VERB taxlaw-2807 525 18 all all PRON taxlaw-2807 525 19 of of ADP taxlaw-2807 525 20 the the DET taxlaw-2807 525 21 objective objective ADJ taxlaw-2807 525 22 value value NOUN taxlaw-2807 525 23 associated associate VERB taxlaw-2807 525 24 with with ADP taxlaw-2807 525 25 certain certain ADJ taxlaw-2807 525 26 assets asset NOUN taxlaw-2807 525 27 — — PUNCT taxlaw-2807 525 28 not not PART taxlaw-2807 525 29 that that DET taxlaw-2807 525 30 redistribution redistribution NOUN taxlaw-2807 525 31 of of ADP taxlaw-2807 525 32 welfare welfare NOUN taxlaw-2807 525 33 is be AUX taxlaw-2807 525 34 the the DET taxlaw-2807 525 35 only only ADJ taxlaw-2807 525 36 benchmark benchmark NOUN taxlaw-2807 525 37 of of ADP taxlaw-2807 525 38 equality equality NOUN taxlaw-2807 525 39 . . PUNCT taxlaw-2807 526 1 put put VERB taxlaw-2807 526 2 differently differently ADV taxlaw-2807 526 3 , , PUNCT taxlaw-2807 526 4 if if SCONJ taxlaw-2807 526 5 one one PRON taxlaw-2807 526 6 agrees agree VERB taxlaw-2807 526 7 that that SCONJ taxlaw-2807 526 8 both both DET taxlaw-2807 526 9 professors professor NOUN taxlaw-2807 526 10 are be AUX taxlaw-2807 526 11 similarly similarly ADV taxlaw-2807 526 12 situated situate VERB taxlaw-2807 526 13 in in ADP taxlaw-2807 526 14 objective objective ADJ taxlaw-2807 526 15 terms term NOUN taxlaw-2807 526 16 , , PUNCT taxlaw-2807 526 17 then then ADV taxlaw-2807 526 18 the the DET taxlaw-2807 526 19 conclusion conclusion NOUN taxlaw-2807 526 20 must must AUX taxlaw-2807 526 21 follow follow VERB taxlaw-2807 526 22 that that SCONJ taxlaw-2807 526 23 the the DET taxlaw-2807 526 24 market market NOUN taxlaw-2807 526 25 price price NOUN taxlaw-2807 526 26 is be AUX taxlaw-2807 526 27 an an DET taxlaw-2807 526 28 objective objective ADJ taxlaw-2807 526 29 measure measure NOUN taxlaw-2807 526 30 of of ADP taxlaw-2807 526 31 their their PRON taxlaw-2807 526 32 economic economic ADJ taxlaw-2807 526 33 ability ability NOUN taxlaw-2807 526 34 but but CCONJ taxlaw-2807 526 35 not not PART taxlaw-2807 526 36 necessarily necessarily ADV taxlaw-2807 526 37 the the DET taxlaw-2807 526 38 only only ADJ taxlaw-2807 526 39 or or CCONJ taxlaw-2807 526 40 the the DET taxlaw-2807 526 41 best good ADJ taxlaw-2807 526 42 objective objective ADJ taxlaw-2807 526 43 measurement measurement NOUN taxlaw-2807 526 44 policymakers policymaker NOUN taxlaw-2807 526 45 can can AUX taxlaw-2807 526 46 or or CCONJ taxlaw-2807 526 47 should should AUX taxlaw-2807 526 48 employ employ VERB taxlaw-2807 526 49 to to PART taxlaw-2807 526 50 determine determine VERB taxlaw-2807 526 51 that that SCONJ taxlaw-2807 526 52 ability.139 ability.139 NOUN taxlaw-2807 526 53 to to PART taxlaw-2807 526 54 be be AUX taxlaw-2807 526 55 clear clear ADJ taxlaw-2807 526 56 on on ADP taxlaw-2807 526 57 this this DET taxlaw-2807 526 58 point point NOUN taxlaw-2807 526 59 , , PUNCT taxlaw-2807 526 60 the the DET taxlaw-2807 526 61 market market NOUN taxlaw-2807 526 62 price price NOUN taxlaw-2807 526 63 is be AUX taxlaw-2807 526 64 a a DET taxlaw-2807 526 65 social social ADJ taxlaw-2807 526 66 construct construct NOUN taxlaw-2807 526 67 and and CCONJ taxlaw-2807 526 68 therefore therefore ADV taxlaw-2807 526 69 not not PART taxlaw-2807 526 70 “ " PUNCT taxlaw-2807 526 71 correct correct ADJ taxlaw-2807 526 72 ” " PUNCT taxlaw-2807 526 73 when when SCONJ taxlaw-2807 526 74 it it PRON taxlaw-2807 526 75 assesses assess VERB taxlaw-2807 526 76 google google PROPN taxlaw-2807 526 77 stock stock NOUN taxlaw-2807 526 78 or or CCONJ taxlaw-2807 526 79 “ " PUNCT taxlaw-2807 526 80 wrong wrong NOUN taxlaw-2807 526 81 ” " PUNCT taxlaw-2807 526 82 when when SCONJ taxlaw-2807 526 83 evaluating evaluate VERB taxlaw-2807 526 84 more more ADJ taxlaw-2807 526 85 personal personal ADJ taxlaw-2807 526 86 assets asset NOUN taxlaw-2807 526 87 . . PUNCT taxlaw-2807 527 1 the the DET taxlaw-2807 527 2 difference difference NOUN taxlaw-2807 527 3 is be AUX taxlaw-2807 527 4 not not PART taxlaw-2807 527 5 that that SCONJ taxlaw-2807 527 6 google google PROPN taxlaw-2807 527 7 stock stock NOUN taxlaw-2807 527 8 has have VERB taxlaw-2807 527 9 a a DET taxlaw-2807 527 10 price price NOUN taxlaw-2807 527 11 and and CCONJ taxlaw-2807 527 12 personal personal ADJ taxlaw-2807 527 13 assets asset NOUN taxlaw-2807 527 14 are be AUX taxlaw-2807 527 15 “ " PUNCT taxlaw-2807 527 16 beyond beyond ADP taxlaw-2807 527 17 pricing pricing NOUN taxlaw-2807 527 18 . . PUNCT taxlaw-2807 528 1 ”140 ”140 PROPN taxlaw-2807 528 2 instead instead ADV taxlaw-2807 528 3 , , PUNCT taxlaw-2807 528 4 the the DET taxlaw-2807 528 5 claim claim NOUN taxlaw-2807 528 6 is be AUX taxlaw-2807 528 7 that that SCONJ taxlaw-2807 528 8 the the DET taxlaw-2807 528 9 tax tax NOUN taxlaw-2807 528 10 authorities authority NOUN taxlaw-2807 528 11 ’ ' PUNCT taxlaw-2807 528 12 ability ability NOUN taxlaw-2807 528 13 to to PART taxlaw-2807 528 14 make make VERB taxlaw-2807 528 15 meaningful meaningful ADJ taxlaw-2807 528 16 interpersonal interpersonal ADJ taxlaw-2807 528 17 comparisons comparison NOUN taxlaw-2807 528 18 is be AUX taxlaw-2807 528 19 much much ADV taxlaw-2807 528 20 greater great ADJ taxlaw-2807 528 21 when when SCONJ taxlaw-2807 528 22 considering consider VERB taxlaw-2807 528 23 the the DET taxlaw-2807 528 24 price price NOUN taxlaw-2807 528 25 of of ADP taxlaw-2807 528 26 google google PROPN taxlaw-2807 528 27 stock stock NOUN taxlaw-2807 528 28 than than SCONJ taxlaw-2807 528 29 it it PRON taxlaw-2807 528 30 is be AUX taxlaw-2807 528 31 for for ADP taxlaw-2807 528 32 the the DET taxlaw-2807 528 33 market market NOUN taxlaw-2807 528 34 price price NOUN taxlaw-2807 528 35 of of ADP taxlaw-2807 528 36 personal personal ADJ taxlaw-2807 528 37 assets asset NOUN taxlaw-2807 528 38 . . PUNCT taxlaw-2807 529 1 individuals individual NOUN taxlaw-2807 529 2 may may AUX taxlaw-2807 529 3 invest invest VERB taxlaw-2807 529 4 in in ADP taxlaw-2807 529 5 google google PROPN taxlaw-2807 529 6 stock stock NOUN taxlaw-2807 529 7 for for ADP taxlaw-2807 529 8 a a DET taxlaw-2807 529 9 number number NOUN taxlaw-2807 529 10 of of ADP taxlaw-2807 529 11 different different ADJ taxlaw-2807 529 12 reasons reason NOUN taxlaw-2807 529 13 — — PUNCT taxlaw-2807 529 14 speculation speculation NOUN taxlaw-2807 529 15 , , PUNCT taxlaw-2807 529 16 risk risk NOUN taxlaw-2807 529 17 - - PUNCT taxlaw-2807 529 18 diversification diversification NOUN taxlaw-2807 529 19 , , PUNCT taxlaw-2807 529 20 or or CCONJ taxlaw-2807 529 21 belief belief NOUN taxlaw-2807 529 22 in in ADP taxlaw-2807 529 23 the the DET taxlaw-2807 529 24 company company NOUN taxlaw-2807 529 25 ’s ’s PART taxlaw-2807 529 26 corporate corporate ADJ taxlaw-2807 529 27 values value NOUN taxlaw-2807 529 28 . . PUNCT taxlaw-2807 530 1 however however ADV taxlaw-2807 530 2 , , PUNCT taxlaw-2807 530 3 for for ADP taxlaw-2807 530 4 most most ADJ taxlaw-2807 530 5 shareholders shareholder NOUN taxlaw-2807 530 6 , , PUNCT taxlaw-2807 530 7 google google PROPN taxlaw-2807 530 8 shares share NOUN taxlaw-2807 530 9 are be AUX taxlaw-2807 530 10 primarily primarily ADV taxlaw-2807 530 11 investment investment NOUN taxlaw-2807 530 12 assets asset NOUN taxlaw-2807 530 13 — — PUNCT taxlaw-2807 530 14 and and CCONJ taxlaw-2807 530 15 as as ADP taxlaw-2807 530 16 such such ADJ taxlaw-2807 530 17 are be AUX taxlaw-2807 530 18 not not PART taxlaw-2807 530 19 very very ADV taxlaw-2807 530 20 different different ADJ taxlaw-2807 530 21 from from ADP taxlaw-2807 530 22 money money NOUN taxlaw-2807 530 23 because because SCONJ taxlaw-2807 530 24 they they PRON taxlaw-2807 530 25 primarily primarily ADV taxlaw-2807 530 26 represent represent VERB taxlaw-2807 530 27 consumption consumption NOUN taxlaw-2807 530 28 power.141 power.141 ADJ taxlaw-2807 530 29 investment investment NOUN taxlaw-2807 530 30 assets asset NOUN taxlaw-2807 530 31 , , PUNCT taxlaw-2807 530 32 of of ADP taxlaw-2807 530 33 course course NOUN taxlaw-2807 530 34 , , PUNCT taxlaw-2807 530 35 are be AUX taxlaw-2807 530 36 not not PART taxlaw-2807 530 37 the the DET taxlaw-2807 530 38 only only ADJ taxlaw-2807 530 39 type type NOUN taxlaw-2807 530 40 of of ADP taxlaw-2807 530 41 assets asset NOUN taxlaw-2807 530 42 that that PRON taxlaw-2807 530 43 could could AUX taxlaw-2807 530 44 be be AUX taxlaw-2807 530 45 valued value VERB taxlaw-2807 530 46 independently independently ADV taxlaw-2807 530 47 from from ADP taxlaw-2807 530 48 the the DET taxlaw-2807 530 49 decision decision NOUN taxlaw-2807 530 50 to to PART taxlaw-2807 530 51 use use VERB taxlaw-2807 530 52 them they PRON taxlaw-2807 530 53 . . PUNCT taxlaw-2807 531 1 money money NOUN taxlaw-2807 531 2 , , PUNCT taxlaw-2807 531 3 for for ADP taxlaw-2807 531 4 example example NOUN taxlaw-2807 531 5 , , PUNCT taxlaw-2807 531 6 is be AUX taxlaw-2807 531 7 in in ADP taxlaw-2807 531 8 most most ADJ taxlaw-2807 531 9 cases case NOUN taxlaw-2807 531 10 simply simply ADV taxlaw-2807 531 11 a a DET taxlaw-2807 531 12 piece piece NOUN taxlaw-2807 531 13 of of ADP taxlaw-2807 531 14 paper paper NOUN taxlaw-2807 531 15 that that PRON taxlaw-2807 531 16 enumerates enumerate VERB taxlaw-2807 531 17 fungible fungible ADJ taxlaw-2807 531 18 and and CCONJ taxlaw-2807 531 19 homogeneous homogeneous ADJ taxlaw-2807 531 20 units unit NOUN taxlaw-2807 531 21 that that PRON taxlaw-2807 531 22 represent represent VERB taxlaw-2807 531 23 individuals individual NOUN taxlaw-2807 531 24 ’ ’ PART taxlaw-2807 531 25 comparative comparative ADJ taxlaw-2807 531 26 abilities ability NOUN taxlaw-2807 531 27 to to PART taxlaw-2807 531 28 participate participate VERB taxlaw-2807 531 29 in in ADP taxlaw-2807 531 30 market market NOUN taxlaw-2807 531 31 exchanges exchange NOUN taxlaw-2807 531 32 . . PUNCT taxlaw-2807 532 1 it it PRON taxlaw-2807 532 2 is be AUX taxlaw-2807 532 3 very very ADV taxlaw-2807 532 4 unlikely unlikely ADJ taxlaw-2807 532 5 that that SCONJ taxlaw-2807 532 6 certain certain ADJ taxlaw-2807 532 7 individuals individual NOUN taxlaw-2807 532 8 would would AUX taxlaw-2807 532 9 attach attach VERB taxlaw-2807 532 10 special special ADJ taxlaw-2807 532 11 immeasurable immeasurable ADJ taxlaw-2807 532 12 utilities utility NOUN taxlaw-2807 532 13 to to ADP taxlaw-2807 532 14 homogeneous homogeneous ADJ taxlaw-2807 532 15 and and CCONJ taxlaw-2807 532 16 137 137 NUM taxlaw-2807 532 17 see see NOUN taxlaw-2807 532 18 ilan ilan PROPN taxlaw-2807 532 19 benshalom benshalom PROPN taxlaw-2807 532 20 , , PUNCT taxlaw-2807 532 21 the the DET taxlaw-2807 532 22 new new ADJ taxlaw-2807 532 23 poor poor ADJ taxlaw-2807 532 24 at at ADP taxlaw-2807 532 25 our our PRON taxlaw-2807 532 26 gates gate NOUN taxlaw-2807 532 27 : : PUNCT taxlaw-2807 532 28 global global ADJ taxlaw-2807 532 29 justice justice NOUN taxlaw-2807 532 30 implications implication NOUN taxlaw-2807 532 31 for for ADP taxlaw-2807 532 32 international international ADJ taxlaw-2807 532 33 trade trade NOUN taxlaw-2807 532 34 and and CCONJ taxlaw-2807 532 35 tax tax NOUN taxlaw-2807 532 36 law law NOUN taxlaw-2807 532 37 , , PUNCT taxlaw-2807 532 38 85 85 NUM taxlaw-2807 532 39 n.y.u n.y.u NOUN taxlaw-2807 532 40 . . PUNCT taxlaw-2807 533 1 l. l. PROPN taxlaw-2807 533 2 rev rev PROPN taxlaw-2807 533 3 . . PROPN taxlaw-2807 533 4 1 1 NUM taxlaw-2807 533 5 , , PUNCT taxlaw-2807 533 6 34–36 34–36 NUM taxlaw-2807 533 7 ( ( PUNCT taxlaw-2807 533 8 2010 2010 NUM taxlaw-2807 533 9 ) ) PUNCT taxlaw-2807 533 10 ( ( PUNCT taxlaw-2807 533 11 providing provide VERB taxlaw-2807 533 12 a a DET taxlaw-2807 533 13 brief brief ADJ taxlaw-2807 533 14 review review NOUN taxlaw-2807 533 15 of of ADP taxlaw-2807 533 16 the the DET taxlaw-2807 533 17 distributive distributive ADJ taxlaw-2807 533 18 justice justice NOUN taxlaw-2807 533 19 literature literature PROPN taxlaw-2807 533 20 ) ) PUNCT taxlaw-2807 533 21 . . PUNCT taxlaw-2807 534 1 138 138 NUM taxlaw-2807 534 2 see see VERB taxlaw-2807 534 3 supra supra PROPN taxlaw-2807 534 4 notes note VERB taxlaw-2807 534 5 116–118 116–118 NUM taxlaw-2807 534 6 and and CCONJ taxlaw-2807 534 7 accompanying accompany VERB taxlaw-2807 534 8 text text NOUN taxlaw-2807 534 9 . . PUNCT taxlaw-2807 535 1 139 139 NUM taxlaw-2807 535 2 one one PRON taxlaw-2807 535 3 can can AUX taxlaw-2807 535 4 say say VERB taxlaw-2807 535 5 that that SCONJ taxlaw-2807 535 6 , , PUNCT taxlaw-2807 535 7 even even ADV taxlaw-2807 535 8 in in ADP taxlaw-2807 535 9 objective objective ADJ taxlaw-2807 535 10 terms term NOUN taxlaw-2807 535 11 , , PUNCT taxlaw-2807 535 12 the the DET taxlaw-2807 535 13 market market NOUN taxlaw-2807 535 14 does do AUX taxlaw-2807 535 15 not not PART taxlaw-2807 535 16 always always ADV taxlaw-2807 535 17 adequately adequately ADV taxlaw-2807 535 18 reflect reflect VERB taxlaw-2807 535 19 the the DET taxlaw-2807 535 20 value value NOUN taxlaw-2807 535 21 of of ADP taxlaw-2807 535 22 certain certain ADJ taxlaw-2807 535 23 assets asset NOUN taxlaw-2807 535 24 — — PUNCT taxlaw-2807 535 25 such such ADJ taxlaw-2807 535 26 as as ADP taxlaw-2807 535 27 shelter shelter NOUN taxlaw-2807 535 28 and and CCONJ taxlaw-2807 535 29 food food NOUN taxlaw-2807 535 30 security security NOUN taxlaw-2807 535 31 , , PUNCT taxlaw-2807 535 32 or or CCONJ taxlaw-2807 535 33 mobility mobility NOUN taxlaw-2807 535 34 . . PUNCT taxlaw-2807 536 1 one one PRON taxlaw-2807 536 2 can can AUX taxlaw-2807 536 3 further far ADV taxlaw-2807 536 4 accept accept VERB taxlaw-2807 536 5 that that SCONJ taxlaw-2807 536 6 tax tax NOUN taxlaw-2807 536 7 authorities authority NOUN taxlaw-2807 536 8 have have VERB taxlaw-2807 536 9 difficulties difficulty NOUN taxlaw-2807 536 10 observing observe VERB taxlaw-2807 536 11 whether whether SCONJ taxlaw-2807 536 12 individuals individual NOUN taxlaw-2807 536 13 attach attach VERB taxlaw-2807 536 14 these these DET taxlaw-2807 536 15 values value NOUN taxlaw-2807 536 16 to to ADP taxlaw-2807 536 17 assets asset NOUN taxlaw-2807 536 18 and and CCONJ taxlaw-2807 536 19 , , PUNCT taxlaw-2807 536 20 more more ADV taxlaw-2807 536 21 importantly importantly ADV taxlaw-2807 536 22 determining determine VERB taxlaw-2807 536 23 the the DET taxlaw-2807 536 24 relative relative ADJ taxlaw-2807 536 25 “ " PUNCT taxlaw-2807 536 26 price price NOUN taxlaw-2807 536 27 ” " PUNCT taxlaw-2807 536 28 of of ADP taxlaw-2807 536 29 these these DET taxlaw-2807 536 30 values value NOUN taxlaw-2807 536 31 . . PUNCT taxlaw-2807 537 1 see see VERB taxlaw-2807 537 2 generally generally ADV taxlaw-2807 537 3 sen sen PROPN taxlaw-2807 537 4 , , PUNCT taxlaw-2807 537 5 supra supra PROPN taxlaw-2807 537 6 note note PROPN taxlaw-2807 537 7 118 118 NUM taxlaw-2807 537 8 ( ( PUNCT taxlaw-2807 537 9 providing provide VERB taxlaw-2807 537 10 a a DET taxlaw-2807 537 11 set set NOUN taxlaw-2807 537 12 of of ADP taxlaw-2807 537 13 nonmoney nonmoney NOUN taxlaw-2807 537 14 - - PUNCT taxlaw-2807 537 15 equivalent equivalent ADJ taxlaw-2807 537 16 goods good NOUN taxlaw-2807 537 17 that that PRON taxlaw-2807 537 18 are be AUX taxlaw-2807 537 19 required require VERB taxlaw-2807 537 20 for for SCONJ taxlaw-2807 537 21 individuals individual NOUN taxlaw-2807 537 22 to to PART taxlaw-2807 537 23 establish establish VERB taxlaw-2807 537 24 worthwhile worthwhile ADJ taxlaw-2807 537 25 lives life NOUN taxlaw-2807 537 26 ) ) PUNCT taxlaw-2807 537 27 . . PUNCT taxlaw-2807 538 1 140 140 NUM taxlaw-2807 538 2 the the DET taxlaw-2807 538 3 beyond beyond ADP taxlaw-2807 538 4 pricing pricing NOUN taxlaw-2807 538 5 argument argument NOUN taxlaw-2807 538 6 is be AUX taxlaw-2807 538 7 typically typically ADV taxlaw-2807 538 8 identified identify VERB taxlaw-2807 538 9 with with ADP taxlaw-2807 538 10 the the DET taxlaw-2807 538 11 non non ADJ taxlaw-2807 538 12 - - ADJ taxlaw-2807 538 13 commodification commodification ADJ taxlaw-2807 538 14 critique critique NOUN taxlaw-2807 538 15 . . PUNCT taxlaw-2807 539 1 the the DET taxlaw-2807 539 2 core core NOUN taxlaw-2807 539 3 of of ADP taxlaw-2807 539 4 the the DET taxlaw-2807 539 5 argument argument NOUN taxlaw-2807 539 6 presented present VERB taxlaw-2807 539 7 in in ADP taxlaw-2807 539 8 the the DET taxlaw-2807 539 9 non non ADJ taxlaw-2807 539 10 - - ADJ taxlaw-2807 539 11 commodification commodification ADJ taxlaw-2807 539 12 literature literature NOUN taxlaw-2807 539 13 is be AUX taxlaw-2807 539 14 that that SCONJ taxlaw-2807 539 15 for for ADP taxlaw-2807 539 16 some some DET taxlaw-2807 539 17 things thing NOUN taxlaw-2807 539 18 ( ( PUNCT taxlaw-2807 539 19 such such ADJ taxlaw-2807 539 20 as as ADP taxlaw-2807 539 21 human human ADJ taxlaw-2807 539 22 organs organ NOUN taxlaw-2807 539 23 or or CCONJ taxlaw-2807 539 24 sex sex NOUN taxlaw-2807 539 25 ) ) PUNCT taxlaw-2807 539 26 voluntary voluntary ADJ taxlaw-2807 539 27 market market NOUN taxlaw-2807 539 28 exchanges exchange NOUN taxlaw-2807 539 29 are be AUX taxlaw-2807 539 30 inappropriate inappropriate ADJ taxlaw-2807 539 31 because because SCONJ taxlaw-2807 539 32 they they PRON taxlaw-2807 539 33 are be AUX taxlaw-2807 539 34 dehumanizing dehumanize VERB taxlaw-2807 539 35 , , PUNCT taxlaw-2807 539 36 are be AUX taxlaw-2807 539 37 never never ADV taxlaw-2807 539 38 really really ADV taxlaw-2807 539 39 voluntary voluntary ADJ taxlaw-2807 539 40 , , PUNCT taxlaw-2807 539 41 and/or and/or CCONJ taxlaw-2807 539 42 have have VERB taxlaw-2807 539 43 significant significant ADJ taxlaw-2807 539 44 negative negative ADJ taxlaw-2807 539 45 externalities externality NOUN taxlaw-2807 539 46 . . PUNCT taxlaw-2807 540 1 see see VERB taxlaw-2807 540 2 tsilly tsilly ADV taxlaw-2807 540 3 dagan dagan NOUN taxlaw-2807 540 4 , , PUNCT taxlaw-2807 540 5 itemizing itemize VERB taxlaw-2807 540 6 personhood personhood NOUN taxlaw-2807 540 7 , , PUNCT taxlaw-2807 540 8 social social ADJ taxlaw-2807 540 9 science science NOUN taxlaw-2807 540 10 research research NOUN taxlaw-2807 540 11 network network NOUN taxlaw-2807 540 12 7 7 NUM taxlaw-2807 540 13 - - SYM taxlaw-2807 540 14 9 9 NUM taxlaw-2807 540 15 ( ( PUNCT taxlaw-2807 540 16 apr apr PROPN taxlaw-2807 540 17 . . PROPN taxlaw-2807 540 18 21 21 NUM taxlaw-2807 540 19 , , PUNCT taxlaw-2807 540 20 2009 2009 NUM taxlaw-2807 540 21 ) ) PUNCT taxlaw-2807 540 22 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1345391 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1345391 PROPN taxlaw-2807 540 23 ( ( PUNCT taxlaw-2807 540 24 summarizing summarize VERB taxlaw-2807 540 25 this this DET taxlaw-2807 540 26 literature literature NOUN taxlaw-2807 540 27 ) ) PUNCT taxlaw-2807 540 28 . . PUNCT taxlaw-2807 541 1 see see VERB taxlaw-2807 541 2 also also ADV taxlaw-2807 541 3 margaret margaret PROPN taxlaw-2807 541 4 j. j. PROPN taxlaw-2807 541 5 radin radin PROPN taxlaw-2807 541 6 , , PUNCT taxlaw-2807 541 7 contested contest VERB taxlaw-2807 541 8 commodities commodity NOUN taxlaw-2807 541 9 ( ( PUNCT taxlaw-2807 541 10 1996 1996 NUM taxlaw-2807 541 11 ) ) PUNCT taxlaw-2807 541 12 ( ( PUNCT taxlaw-2807 541 13 providing provide VERB taxlaw-2807 541 14 one one NUM taxlaw-2807 541 15 of of ADP taxlaw-2807 541 16 the the DET taxlaw-2807 541 17 key key ADJ taxlaw-2807 541 18 texts text NOUN taxlaw-2807 541 19 on on ADP taxlaw-2807 541 20 this this DET taxlaw-2807 541 21 topic topic NOUN taxlaw-2807 541 22 ) ) PUNCT taxlaw-2807 541 23 . . PUNCT taxlaw-2807 542 1 we we PRON taxlaw-2807 542 2 believe believe VERB taxlaw-2807 542 3 that that SCONJ taxlaw-2807 542 4 our our PRON taxlaw-2807 542 5 argument argument NOUN taxlaw-2807 542 6 has have VERB taxlaw-2807 542 7 little little ADJ taxlaw-2807 542 8 to to PART taxlaw-2807 542 9 do do VERB taxlaw-2807 542 10 with with ADP taxlaw-2807 542 11 this this DET taxlaw-2807 542 12 literature literature NOUN taxlaw-2807 542 13 , , PUNCT taxlaw-2807 542 14 the the DET taxlaw-2807 542 15 core core NOUN taxlaw-2807 542 16 of of ADP taxlaw-2807 542 17 which which PRON taxlaw-2807 542 18 argues argue VERB taxlaw-2807 542 19 that that SCONJ taxlaw-2807 542 20 certain certain ADJ taxlaw-2807 542 21 things thing NOUN taxlaw-2807 542 22 should should AUX taxlaw-2807 542 23 not not PART taxlaw-2807 542 24 be be AUX taxlaw-2807 542 25 on on ADP taxlaw-2807 542 26 the the DET taxlaw-2807 542 27 market market NOUN taxlaw-2807 542 28 . . PUNCT taxlaw-2807 543 1 this this DET taxlaw-2807 543 2 article article NOUN taxlaw-2807 543 3 emphasizes emphasize VERB taxlaw-2807 543 4 the the DET taxlaw-2807 543 5 difficulties difficulty NOUN taxlaw-2807 543 6 of of ADP taxlaw-2807 543 7 making make VERB taxlaw-2807 543 8 interpersonal interpersonal ADJ taxlaw-2807 543 9 comparisons comparison NOUN taxlaw-2807 543 10 with with ADP taxlaw-2807 543 11 regard regard NOUN taxlaw-2807 543 12 to to ADP taxlaw-2807 543 13 some some DET taxlaw-2807 543 14 emotionally emotionally ADV taxlaw-2807 543 15 non non ADJ taxlaw-2807 543 16 - - ADJ taxlaw-2807 543 17 fungible fungible ADJ taxlaw-2807 543 18 assets asset NOUN taxlaw-2807 543 19 , , PUNCT taxlaw-2807 543 20 many many ADJ taxlaw-2807 543 21 of of ADP taxlaw-2807 543 22 which which PRON taxlaw-2807 543 23 could could AUX taxlaw-2807 543 24 be be AUX taxlaw-2807 543 25 put put VERB taxlaw-2807 543 26 on on ADP taxlaw-2807 543 27 the the DET taxlaw-2807 543 28 market market NOUN taxlaw-2807 543 29 without without ADP taxlaw-2807 543 30 incident incident NOUN taxlaw-2807 543 31 or or CCONJ taxlaw-2807 543 32 outcry outcry NOUN taxlaw-2807 543 33 . . PUNCT taxlaw-2807 544 1 141 141 NUM taxlaw-2807 544 2 see see VERB taxlaw-2807 544 3 radin radin PROPN taxlaw-2807 544 4 , , PUNCT taxlaw-2807 544 5 supra supra PROPN taxlaw-2807 544 6 note note PROPN taxlaw-2807 544 7 129 129 NUM taxlaw-2807 544 8 , , PUNCT taxlaw-2807 544 9 at at ADP taxlaw-2807 544 10 959–60 959–60 NOUN taxlaw-2807 544 11 ( ( PUNCT taxlaw-2807 544 12 providing provide VERB taxlaw-2807 544 13 a a DET taxlaw-2807 544 14 somewhat somewhat ADV taxlaw-2807 544 15 similar similar ADJ taxlaw-2807 544 16 argument argument NOUN taxlaw-2807 544 17 that that SCONJ taxlaw-2807 544 18 personal personal ADJ taxlaw-2807 544 19 property property NOUN taxlaw-2807 544 20 is be AUX taxlaw-2807 544 21 not not PART taxlaw-2807 544 22 replaceable replaceable ADJ taxlaw-2807 544 23 ) ) PUNCT taxlaw-2807 544 24 . . PUNCT taxlaw-2807 545 1 68 68 NUM taxlaw-2807 545 2 columbia columbia PROPN taxlaw-2807 545 3 journal journal NOUN taxlaw-2807 545 4 of of ADP taxlaw-2807 545 5 tax tax NOUN taxlaw-2807 545 6 law law NOUN taxlaw-2807 545 7 [ [ X taxlaw-2807 545 8 vol.3:43 vol.3:43 PROPN taxlaw-2807 545 9 fungible fungible ADJ taxlaw-2807 545 10 cash cash NOUN taxlaw-2807 545 11 assets.142 assets.142 PRON taxlaw-2807 545 12 accordingly accordingly ADV taxlaw-2807 545 13 , , PUNCT taxlaw-2807 545 14 the the DET taxlaw-2807 545 15 market market NOUN taxlaw-2807 545 16 assessment assessment NOUN taxlaw-2807 545 17 of of ADP taxlaw-2807 545 18 the the DET taxlaw-2807 545 19 worth worth NOUN taxlaw-2807 545 20 of of ADP taxlaw-2807 545 21 monetary monetary ADJ taxlaw-2807 545 22 assets asset NOUN taxlaw-2807 545 23 seems seem VERB taxlaw-2807 545 24 valid valid ADJ taxlaw-2807 545 25 when when SCONJ taxlaw-2807 545 26 making make VERB taxlaw-2807 545 27 interpersonal interpersonal ADJ taxlaw-2807 545 28 comparisons comparison NOUN taxlaw-2807 545 29 of of ADP taxlaw-2807 545 30 individuals individual NOUN taxlaw-2807 545 31 ’ ' PUNCT taxlaw-2807 545 32 well well ADV taxlaw-2807 545 33 - - PUNCT taxlaw-2807 545 34 being being NOUN taxlaw-2807 545 35 for for ADP taxlaw-2807 545 36 tax tax NOUN taxlaw-2807 545 37 purposes purpose NOUN taxlaw-2807 545 38 . . PUNCT taxlaw-2807 546 1 money money NOUN taxlaw-2807 546 2 and and CCONJ taxlaw-2807 546 3 human human ADJ taxlaw-2807 546 4 organs organ NOUN taxlaw-2807 546 5 lie lie VERB taxlaw-2807 546 6 on on ADP taxlaw-2807 546 7 two two NUM taxlaw-2807 546 8 ends end NOUN taxlaw-2807 546 9 of of ADP taxlaw-2807 546 10 the the DET taxlaw-2807 546 11 continuum continuum NOUN taxlaw-2807 546 12 — — PUNCT taxlaw-2807 546 13 everything everything PRON taxlaw-2807 546 14 else else ADV taxlaw-2807 546 15 falls fall VERB taxlaw-2807 546 16 in in ADP taxlaw-2807 546 17 between between ADP taxlaw-2807 546 18 . . PUNCT taxlaw-2807 547 1 when when SCONJ taxlaw-2807 547 2 an an DET taxlaw-2807 547 3 asset asset NOUN taxlaw-2807 547 4 is be AUX taxlaw-2807 547 5 closer close ADJ taxlaw-2807 547 6 to to ADP taxlaw-2807 547 7 the the DET taxlaw-2807 547 8 money money NOUN taxlaw-2807 547 9 side side NOUN taxlaw-2807 547 10 of of ADP taxlaw-2807 547 11 the the DET taxlaw-2807 547 12 continuum continuum NOUN taxlaw-2807 547 13 , , PUNCT taxlaw-2807 547 14 it it PRON taxlaw-2807 547 15 is be AUX taxlaw-2807 547 16 easier easy ADJ taxlaw-2807 547 17 to to PART taxlaw-2807 547 18 see see VERB taxlaw-2807 547 19 how how SCONJ taxlaw-2807 547 20 its its PRON taxlaw-2807 547 21 market market NOUN taxlaw-2807 547 22 value value NOUN taxlaw-2807 547 23 can can AUX taxlaw-2807 547 24 serve serve VERB taxlaw-2807 547 25 as as ADP taxlaw-2807 547 26 a a DET taxlaw-2807 547 27 proxy proxy NOUN taxlaw-2807 547 28 for for ADP taxlaw-2807 547 29 well well ADV taxlaw-2807 547 30 - - PUNCT taxlaw-2807 547 31 being being NOUN taxlaw-2807 547 32 . . PUNCT taxlaw-2807 548 1 it it PRON taxlaw-2807 548 2 is be AUX taxlaw-2807 548 3 therefore therefore ADV taxlaw-2807 548 4 reasonable reasonable ADJ taxlaw-2807 548 5 to to PART taxlaw-2807 548 6 assign assign VERB taxlaw-2807 548 7 tax tax NOUN taxlaw-2807 548 8 liability liability NOUN taxlaw-2807 548 9 for for ADP taxlaw-2807 548 10 that that DET taxlaw-2807 548 11 asset asset NOUN taxlaw-2807 548 12 ’s ’s PART taxlaw-2807 548 13 fluctuation fluctuation NOUN taxlaw-2807 548 14 in in ADP taxlaw-2807 548 15 value value NOUN taxlaw-2807 548 16 according accord VERB taxlaw-2807 548 17 to to ADP taxlaw-2807 548 18 a a DET taxlaw-2807 548 19 markto markto NOUN taxlaw-2807 548 20 - - PUNCT taxlaw-2807 548 21 market market NOUN taxlaw-2807 548 22 regime regime NOUN taxlaw-2807 548 23 . . PUNCT taxlaw-2807 549 1 the the DET taxlaw-2807 549 2 assignment assignment NOUN taxlaw-2807 549 3 of of ADP taxlaw-2807 549 4 mark mark NOUN taxlaw-2807 549 5 - - PUNCT taxlaw-2807 549 6 to to ADP taxlaw-2807 549 7 - - PUNCT taxlaw-2807 549 8 market market NOUN taxlaw-2807 549 9 tax tax NOUN taxlaw-2807 549 10 liability liability NOUN taxlaw-2807 549 11 seems seem VERB taxlaw-2807 549 12 less less ADV taxlaw-2807 549 13 justifiable justifiable ADJ taxlaw-2807 549 14 for for ADP taxlaw-2807 549 15 assets asset NOUN taxlaw-2807 549 16 closer close ADJ taxlaw-2807 549 17 to to ADP taxlaw-2807 549 18 the the DET taxlaw-2807 549 19 personal personal ADJ taxlaw-2807 549 20 asset asset NOUN taxlaw-2807 549 21 end end NOUN taxlaw-2807 549 22 of of ADP taxlaw-2807 549 23 the the DET taxlaw-2807 549 24 continuum continuum NOUN taxlaw-2807 549 25 . . PUNCT taxlaw-2807 550 1 there there PRON taxlaw-2807 550 2 may may AUX taxlaw-2807 550 3 be be AUX taxlaw-2807 550 4 a a DET taxlaw-2807 550 5 lot lot NOUN taxlaw-2807 550 6 of of ADP taxlaw-2807 550 7 very very ADV taxlaw-2807 550 8 difficult difficult ADJ taxlaw-2807 550 9 cases case NOUN taxlaw-2807 550 10 in in ADP taxlaw-2807 550 11 between between ADP taxlaw-2807 550 12 , , PUNCT taxlaw-2807 550 13 but but CCONJ taxlaw-2807 550 14 it it PRON taxlaw-2807 550 15 is be AUX taxlaw-2807 550 16 possible possible ADJ taxlaw-2807 550 17 to to PART taxlaw-2807 550 18 envision envision VERB taxlaw-2807 550 19 some some DET taxlaw-2807 550 20 preliminary preliminary ADJ taxlaw-2807 550 21 classification classification NOUN taxlaw-2807 550 22 rules rule NOUN taxlaw-2807 550 23 . . PUNCT taxlaw-2807 551 1 primary primary ADJ taxlaw-2807 551 2 residences residence NOUN taxlaw-2807 551 3 could could AUX taxlaw-2807 551 4 be be AUX taxlaw-2807 551 5 categorically categorically ADV taxlaw-2807 551 6 treated treat VERB taxlaw-2807 551 7 as as ADP taxlaw-2807 551 8 personal personal ADJ taxlaw-2807 551 9 assets asset NOUN taxlaw-2807 551 10 as as SCONJ taxlaw-2807 551 11 could could AUX taxlaw-2807 551 12 small small ADJ taxlaw-2807 551 13 family family NOUN taxlaw-2807 551 14 businesses business NOUN taxlaw-2807 551 15 , , PUNCT taxlaw-2807 551 16 which which PRON taxlaw-2807 551 17 are be AUX taxlaw-2807 551 18 likely likely ADJ taxlaw-2807 551 19 to to PART taxlaw-2807 551 20 embody embody VERB taxlaw-2807 551 21 a a DET taxlaw-2807 551 22 great great ADJ taxlaw-2807 551 23 deal deal NOUN taxlaw-2807 551 24 of of ADP taxlaw-2807 551 25 psychological psychological ADJ taxlaw-2807 551 26 value value NOUN taxlaw-2807 551 27 and and CCONJ taxlaw-2807 551 28 non non ADJ taxlaw-2807 551 29 - - ADJ taxlaw-2807 551 30 diversified diversified ADJ taxlaw-2807 551 31 risk risk NOUN taxlaw-2807 551 32 taking taking NOUN taxlaw-2807 551 33 . . PUNCT taxlaw-2807 552 1 other other ADJ taxlaw-2807 552 2 categories category NOUN taxlaw-2807 552 3 of of ADP taxlaw-2807 552 4 emotionally emotionally ADV taxlaw-2807 552 5 non non ADJ taxlaw-2807 552 6 - - ADJ taxlaw-2807 552 7 fungible fungible ADJ taxlaw-2807 552 8 assets asset NOUN taxlaw-2807 552 9 may may AUX taxlaw-2807 552 10 include include VERB taxlaw-2807 552 11 assets asset NOUN taxlaw-2807 552 12 employed employ VERB taxlaw-2807 552 13 in in ADP taxlaw-2807 552 14 active active ADJ taxlaw-2807 552 15 trade trade NOUN taxlaw-2807 552 16 or or CCONJ taxlaw-2807 552 17 businesses business NOUN taxlaw-2807 552 18 with with ADP taxlaw-2807 552 19 respect respect NOUN taxlaw-2807 552 20 to to ADP taxlaw-2807 552 21 which which PRON taxlaw-2807 552 22 taxpayers taxpayer NOUN taxlaw-2807 552 23 invest invest VERB taxlaw-2807 552 24 a a DET taxlaw-2807 552 25 considerable considerable ADJ taxlaw-2807 552 26 amount amount NOUN taxlaw-2807 552 27 of of ADP taxlaw-2807 552 28 their their PRON taxlaw-2807 552 29 time time NOUN taxlaw-2807 552 30 . . PUNCT taxlaw-2807 553 1 in in ADP taxlaw-2807 553 2 contrast contrast NOUN taxlaw-2807 553 3 , , PUNCT taxlaw-2807 553 4 portfolio portfolio NOUN taxlaw-2807 553 5 holdings holding NOUN taxlaw-2807 553 6 in in ADP taxlaw-2807 553 7 publicly publicly ADV taxlaw-2807 553 8 traded trade VERB taxlaw-2807 553 9 corporations corporation NOUN taxlaw-2807 553 10 and and CCONJ taxlaw-2807 553 11 other other ADJ taxlaw-2807 553 12 entities entity NOUN taxlaw-2807 553 13 with with ADP taxlaw-2807 553 14 a a DET taxlaw-2807 553 15 large large ADJ taxlaw-2807 553 16 number number NOUN taxlaw-2807 553 17 of of ADP taxlaw-2807 553 18 owners owner NOUN taxlaw-2807 553 19 are be AUX taxlaw-2807 553 20 generally generally ADV taxlaw-2807 553 21 emotionally emotionally ADV taxlaw-2807 553 22 fungible fungible ADJ taxlaw-2807 553 23 . . PUNCT taxlaw-2807 554 1 these these DET taxlaw-2807 554 2 types type NOUN taxlaw-2807 554 3 of of ADP taxlaw-2807 554 4 distinctions distinction NOUN taxlaw-2807 554 5 may may AUX taxlaw-2807 554 6 seem seem VERB taxlaw-2807 554 7 too too ADV taxlaw-2807 554 8 vague vague ADJ taxlaw-2807 554 9 and and CCONJ taxlaw-2807 554 10 impractical impractical ADJ taxlaw-2807 554 11 at at ADP taxlaw-2807 554 12 first first ADV taxlaw-2807 554 13 , , PUNCT taxlaw-2807 554 14 but but CCONJ taxlaw-2807 554 15 , , PUNCT taxlaw-2807 554 16 as as SCONJ taxlaw-2807 554 17 we we PRON taxlaw-2807 554 18 discuss discuss VERB taxlaw-2807 554 19 later later ADV taxlaw-2807 554 20 , , PUNCT taxlaw-2807 554 21 they they PRON taxlaw-2807 554 22 align align VERB taxlaw-2807 554 23 well well ADV taxlaw-2807 554 24 with with ADP taxlaw-2807 554 25 various various ADJ taxlaw-2807 554 26 distinctions distinction NOUN taxlaw-2807 554 27 on on ADP taxlaw-2807 554 28 which which PRON taxlaw-2807 554 29 the the DET taxlaw-2807 554 30 current current ADJ taxlaw-2807 554 31 tax tax NOUN taxlaw-2807 554 32 regime regime NOUN taxlaw-2807 554 33 already already ADV taxlaw-2807 554 34 relies.143 relies.143 VERB taxlaw-2807 554 35 no no DET taxlaw-2807 554 36 liberal liberal ADJ taxlaw-2807 554 37 egalitarian egalitarian ADJ taxlaw-2807 554 38 regime regime NOUN taxlaw-2807 554 39 aspiring aspire VERB taxlaw-2807 554 40 to to PART taxlaw-2807 554 41 engage engage VERB taxlaw-2807 554 42 in in ADP taxlaw-2807 554 43 redistribution redistribution NOUN taxlaw-2807 554 44 can can AUX taxlaw-2807 554 45 avoid avoid VERB taxlaw-2807 554 46 interpersonal interpersonal ADJ taxlaw-2807 554 47 comparisons comparison NOUN taxlaw-2807 554 48 . . PUNCT taxlaw-2807 555 1 that that SCONJ taxlaw-2807 555 2 interpersonal interpersonal ADJ taxlaw-2807 555 3 comparisons comparison NOUN taxlaw-2807 555 4 are be AUX taxlaw-2807 555 5 unavoidable unavoidable ADJ taxlaw-2807 555 6 , , PUNCT taxlaw-2807 555 7 however however ADV taxlaw-2807 555 8 , , PUNCT taxlaw-2807 555 9 does do AUX taxlaw-2807 555 10 not not PART taxlaw-2807 555 11 mean mean VERB taxlaw-2807 555 12 that that SCONJ taxlaw-2807 555 13 all all DET taxlaw-2807 555 14 interpersonal interpersonal ADJ taxlaw-2807 555 15 comparisons comparison NOUN taxlaw-2807 555 16 are be AUX taxlaw-2807 555 17 alike alike ADV taxlaw-2807 555 18 . . PUNCT taxlaw-2807 556 1 in in ADP taxlaw-2807 556 2 part part PROPN taxlaw-2807 556 3 i.a i.a PROPN taxlaw-2807 556 4 , , PUNCT taxlaw-2807 556 5 we we PRON taxlaw-2807 556 6 discussed discuss VERB taxlaw-2807 556 7 why why SCONJ taxlaw-2807 556 8 it it PRON taxlaw-2807 556 9 is be AUX taxlaw-2807 556 10 problematic problematic ADJ taxlaw-2807 556 11 for for SCONJ taxlaw-2807 556 12 an an DET taxlaw-2807 556 13 income income NOUN taxlaw-2807 556 14 tax tax NOUN taxlaw-2807 556 15 regime regime NOUN taxlaw-2807 556 16 to to PART taxlaw-2807 556 17 base base VERB taxlaw-2807 556 18 tax tax NOUN taxlaw-2807 556 19 assessments assessment NOUN taxlaw-2807 556 20 upon upon SCONJ taxlaw-2807 556 21 interpersonal interpersonal ADJ taxlaw-2807 556 22 comparisons comparison NOUN taxlaw-2807 556 23 made make VERB taxlaw-2807 556 24 only only ADV taxlaw-2807 556 25 with with ADP taxlaw-2807 556 26 respect respect NOUN taxlaw-2807 556 27 to to ADP taxlaw-2807 556 28 realized realize VERB taxlaw-2807 556 29 gains gain NOUN taxlaw-2807 556 30 . . PUNCT taxlaw-2807 557 1 in in ADP taxlaw-2807 557 2 this this DET taxlaw-2807 557 3 subpart subpart NOUN taxlaw-2807 557 4 we we PRON taxlaw-2807 557 5 modify modify VERB taxlaw-2807 557 6 this this DET taxlaw-2807 557 7 observation observation NOUN taxlaw-2807 557 8 by by ADP taxlaw-2807 557 9 arguing argue VERB taxlaw-2807 557 10 that that SCONJ taxlaw-2807 557 11 , , PUNCT taxlaw-2807 557 12 when when SCONJ taxlaw-2807 557 13 it it PRON taxlaw-2807 557 14 comes come VERB taxlaw-2807 557 15 to to ADP taxlaw-2807 557 16 personal personal ADJ taxlaw-2807 557 17 assets asset NOUN taxlaw-2807 557 18 , , PUNCT taxlaw-2807 557 19 the the DET taxlaw-2807 557 20 market market NOUN taxlaw-2807 557 21 price price NOUN taxlaw-2807 557 22 of of ADP taxlaw-2807 557 23 an an DET taxlaw-2807 557 24 unrealized unrealized ADJ taxlaw-2807 557 25 asset asset NOUN taxlaw-2807 557 26 is be AUX taxlaw-2807 557 27 not not PART taxlaw-2807 557 28 a a DET taxlaw-2807 557 29 good good ADJ taxlaw-2807 557 30 indicator indicator NOUN taxlaw-2807 557 31 of of ADP taxlaw-2807 557 32 well well ADV taxlaw-2807 557 33 - - PUNCT taxlaw-2807 557 34 being being NOUN taxlaw-2807 557 35 . . PUNCT taxlaw-2807 558 1 in in ADP taxlaw-2807 558 2 this this DET taxlaw-2807 558 3 respect respect NOUN taxlaw-2807 558 4 , , PUNCT taxlaw-2807 558 5 it it PRON taxlaw-2807 558 6 is be AUX taxlaw-2807 558 7 worth worth ADJ taxlaw-2807 558 8 emphasizing emphasize VERB taxlaw-2807 558 9 the the DET taxlaw-2807 558 10 following follow VERB taxlaw-2807 558 11 points point NOUN taxlaw-2807 558 12 . . PUNCT taxlaw-2807 559 1 first first ADV taxlaw-2807 559 2 , , PUNCT taxlaw-2807 559 3 taxpayers taxpayer NOUN taxlaw-2807 559 4 can can AUX taxlaw-2807 559 5 attach attach VERB taxlaw-2807 559 6 higher high ADJ taxlaw-2807 559 7 ( ( PUNCT taxlaw-2807 559 8 subjective subjective ADJ taxlaw-2807 559 9 ) ) PUNCT taxlaw-2807 559 10 value value NOUN taxlaw-2807 559 11 to to ADP taxlaw-2807 559 12 all all DET taxlaw-2807 559 13 assets asset NOUN taxlaw-2807 559 14 — — PUNCT taxlaw-2807 559 15 and and CCONJ taxlaw-2807 559 16 not not PART taxlaw-2807 559 17 necessarily necessarily ADV taxlaw-2807 559 18 just just ADV taxlaw-2807 559 19 to to ADP taxlaw-2807 559 20 personal personal ADJ taxlaw-2807 559 21 assets asset NOUN taxlaw-2807 559 22 . . PUNCT taxlaw-2807 560 1 however however ADV taxlaw-2807 560 2 , , PUNCT taxlaw-2807 560 3 from from ADP taxlaw-2807 560 4 a a DET taxlaw-2807 560 5 public public ADJ taxlaw-2807 560 6 finance finance NOUN taxlaw-2807 560 7 perspective perspective NOUN taxlaw-2807 560 8 , , PUNCT taxlaw-2807 560 9 the the DET taxlaw-2807 560 10 important important ADJ taxlaw-2807 560 11 thing thing NOUN taxlaw-2807 560 12 is be AUX taxlaw-2807 560 13 that that SCONJ taxlaw-2807 560 14 gaps gap NOUN taxlaw-2807 560 15 between between ADP taxlaw-2807 560 16 subjective subjective ADJ taxlaw-2807 560 17 and and CCONJ taxlaw-2807 560 18 market market NOUN taxlaw-2807 560 19 value value NOUN taxlaw-2807 560 20 are be AUX taxlaw-2807 560 21 more more ADV taxlaw-2807 560 22 likely likely ADJ taxlaw-2807 560 23 to to PART taxlaw-2807 560 24 occur occur VERB taxlaw-2807 560 25 with with ADP taxlaw-2807 560 26 respect respect NOUN taxlaw-2807 560 27 to to ADP taxlaw-2807 560 28 personal personal ADJ taxlaw-2807 560 29 assets asset NOUN taxlaw-2807 560 30 . . PUNCT taxlaw-2807 561 1 second second ADJ taxlaw-2807 561 2 , , PUNCT taxlaw-2807 561 3 if if SCONJ taxlaw-2807 561 4 subjective subjective ADJ taxlaw-2807 561 5 value value NOUN taxlaw-2807 561 6 is be AUX taxlaw-2807 561 7 unobservable unobservable ADJ taxlaw-2807 561 8 , , PUNCT taxlaw-2807 561 9 policymakers policymaker NOUN taxlaw-2807 561 10 can can AUX taxlaw-2807 561 11 not not PART taxlaw-2807 561 12 know know VERB taxlaw-2807 561 13 how how SCONJ taxlaw-2807 561 14 heterogeneous heterogeneous ADJ taxlaw-2807 561 15 it it PRON taxlaw-2807 561 16 is.144 is.144 ADV taxlaw-2807 561 17 so so ADV taxlaw-2807 561 18 if if SCONJ taxlaw-2807 561 19 two two NUM taxlaw-2807 561 20 taxpayers taxpayer NOUN taxlaw-2807 561 21 own own VERB taxlaw-2807 561 22 residential residential ADJ taxlaw-2807 561 23 homes home NOUN taxlaw-2807 561 24 with with ADP taxlaw-2807 561 25 the the DET taxlaw-2807 561 26 same same ADJ taxlaw-2807 561 27 market market NOUN taxlaw-2807 561 28 price price NOUN taxlaw-2807 561 29 , , PUNCT taxlaw-2807 561 30 tax tax NOUN taxlaw-2807 561 31 authorities authority NOUN taxlaw-2807 561 32 will will AUX taxlaw-2807 561 33 be be AUX taxlaw-2807 561 34 unable unable ADJ taxlaw-2807 561 35 to to PART taxlaw-2807 561 36 distinguish distinguish VERB taxlaw-2807 561 37 between between ADP taxlaw-2807 561 38 the the DET taxlaw-2807 561 39 taxpayer taxpayer NOUN taxlaw-2807 561 40 who who PRON taxlaw-2807 561 41 values value VERB taxlaw-2807 561 42 her her PRON taxlaw-2807 561 43 home home NOUN taxlaw-2807 561 44 as as ADP taxlaw-2807 561 45 priceless priceless ADJ taxlaw-2807 561 46 and and CCONJ taxlaw-2807 561 47 the the DET taxlaw-2807 561 48 taxpayer taxpayer NOUN taxlaw-2807 561 49 who who PRON taxlaw-2807 561 50 values value VERB taxlaw-2807 561 51 his his PRON taxlaw-2807 561 52 home home NOUN taxlaw-2807 561 53 at at ADP taxlaw-2807 561 54 $ $ SYM taxlaw-2807 561 55 1,000 1,000 NUM taxlaw-2807 561 56 over over ADP taxlaw-2807 561 57 the the DET taxlaw-2807 561 58 market market NOUN taxlaw-2807 561 59 price price NOUN taxlaw-2807 561 60 . . PUNCT taxlaw-2807 562 1 hence hence ADV taxlaw-2807 562 2 , , PUNCT taxlaw-2807 562 3 with with ADP taxlaw-2807 562 4 respect respect NOUN taxlaw-2807 562 5 to to ADP taxlaw-2807 562 6 personal personal ADJ taxlaw-2807 562 7 assets asset NOUN taxlaw-2807 562 8 that that PRON taxlaw-2807 562 9 are be AUX taxlaw-2807 562 10 likely likely ADJ taxlaw-2807 562 11 to to PART taxlaw-2807 562 12 have have VERB taxlaw-2807 562 13 higher high ADJ taxlaw-2807 562 14 subjective subjective ADJ taxlaw-2807 562 15 than than ADP taxlaw-2807 562 16 market market NOUN taxlaw-2807 562 17 values value NOUN taxlaw-2807 562 18 , , PUNCT taxlaw-2807 562 19 tax tax NOUN taxlaw-2807 562 20 policymakers policymaker NOUN taxlaw-2807 562 21 operate operate VERB taxlaw-2807 562 22 in in ADP taxlaw-2807 562 23 a a DET taxlaw-2807 562 24 scenario scenario NOUN taxlaw-2807 562 25 of of ADP taxlaw-2807 562 26 extreme extreme ADJ taxlaw-2807 562 27 uncertainty uncertainty NOUN taxlaw-2807 562 28 . . PUNCT taxlaw-2807 563 1 third third ADJ taxlaw-2807 563 2 , , PUNCT taxlaw-2807 563 3 some some DET taxlaw-2807 563 4 commentators commentator NOUN taxlaw-2807 563 5 may may AUX taxlaw-2807 563 6 argue argue VERB taxlaw-2807 563 7 that that SCONJ taxlaw-2807 563 8 since since SCONJ taxlaw-2807 563 9 all all DET taxlaw-2807 563 10 assets asset NOUN taxlaw-2807 563 11 will will AUX taxlaw-2807 563 12 eventually eventually ADV taxlaw-2807 563 13 be be AUX taxlaw-2807 563 14 taxed tax VERB taxlaw-2807 563 15 on on ADP taxlaw-2807 563 16 their their PRON taxlaw-2807 563 17 market market NOUN taxlaw-2807 563 18 price price NOUN taxlaw-2807 563 19 , , PUNCT taxlaw-2807 563 20 the the DET taxlaw-2807 563 21 difference difference NOUN taxlaw-2807 563 22 between between ADP taxlaw-2807 563 23 a a DET taxlaw-2807 563 24 mark mark NOUN taxlaw-2807 563 25 - - PUNCT taxlaw-2807 563 26 to to ADP taxlaw-2807 563 27 - - PUNCT taxlaw-2807 563 28 market market NOUN taxlaw-2807 563 29 and and CCONJ taxlaw-2807 563 30 a a DET taxlaw-2807 563 31 realizationbased realizationbase VERB taxlaw-2807 563 32 income income NOUN taxlaw-2807 563 33 tax tax NOUN taxlaw-2807 563 34 regime regime NOUN taxlaw-2807 563 35 is be AUX taxlaw-2807 563 36 merely merely ADV taxlaw-2807 563 37 one one NUM taxlaw-2807 563 38 of of ADP taxlaw-2807 563 39 timing.145 timing.145 NOUN taxlaw-2807 563 40 hence hence ADV taxlaw-2807 563 41 , , PUNCT taxlaw-2807 563 42 if if SCONJ taxlaw-2807 563 43 policymakers policymaker NOUN taxlaw-2807 563 44 tax tax VERB taxlaw-2807 563 45 all all DET taxlaw-2807 563 46 personal personal ADJ taxlaw-2807 563 47 assets asset NOUN taxlaw-2807 563 48 on on ADP taxlaw-2807 563 49 a a DET taxlaw-2807 563 50 mark mark NOUN taxlaw-2807 563 51 - - PUNCT taxlaw-2807 563 52 to to ADP taxlaw-2807 563 53 - - PUNCT taxlaw-2807 563 54 market market NOUN taxlaw-2807 563 55 basis basis NOUN taxlaw-2807 563 56 , , PUNCT taxlaw-2807 563 57 the the DET taxlaw-2807 563 58 only only ADJ taxlaw-2807 563 59 difference difference NOUN taxlaw-2807 563 60 between between ADP taxlaw-2807 563 61 this this DET taxlaw-2807 563 62 regime regime NOUN taxlaw-2807 563 63 and and CCONJ taxlaw-2807 563 64 a a DET taxlaw-2807 563 65 realization realization NOUN taxlaw-2807 563 66 - - PUNCT taxlaw-2807 563 67 based base VERB taxlaw-2807 563 68 regime regime NOUN taxlaw-2807 563 69 would would AUX taxlaw-2807 563 70 be be AUX taxlaw-2807 563 71 that that SCONJ taxlaw-2807 563 72 the the DET taxlaw-2807 563 73 former former ADJ taxlaw-2807 563 74 would would AUX taxlaw-2807 563 75 eliminate eliminate VERB taxlaw-2807 563 76 the the DET taxlaw-2807 563 77 arbitrary arbitrary ADJ taxlaw-2807 563 78 advantage advantage NOUN taxlaw-2807 563 79 of of ADP taxlaw-2807 563 80 deferral deferral NOUN taxlaw-2807 563 81 . . PUNCT taxlaw-2807 564 1 this this DET taxlaw-2807 564 2 objection objection NOUN taxlaw-2807 564 3 overlooks overlook VERB taxlaw-2807 564 4 that that SCONJ taxlaw-2807 564 5 many many ADJ taxlaw-2807 564 6 ( ( PUNCT taxlaw-2807 564 7 and and CCONJ taxlaw-2807 564 8 maybe maybe ADV taxlaw-2807 564 9 even even ADV taxlaw-2807 564 10 most most ADJ taxlaw-2807 564 11 ) ) PUNCT taxlaw-2807 564 12 personal personal ADJ taxlaw-2807 564 13 assets asset NOUN taxlaw-2807 564 14 would would AUX taxlaw-2807 564 15 never never ADV taxlaw-2807 564 16 be be AUX taxlaw-2807 564 17 realized realize VERB taxlaw-2807 564 18 . . PUNCT taxlaw-2807 565 1 a a DET taxlaw-2807 565 2 great great ADV taxlaw-2807 565 3 many many ADJ taxlaw-2807 565 4 personal personal ADJ taxlaw-2807 565 5 assets asset NOUN taxlaw-2807 565 6 , , PUNCT taxlaw-2807 565 7 from from ADP taxlaw-2807 565 8 family family NOUN taxlaw-2807 565 9 142 142 NUM taxlaw-2807 565 10 experimental experimental ADJ taxlaw-2807 565 11 behavioral behavioral ADJ taxlaw-2807 565 12 economics economic NOUN taxlaw-2807 565 13 suggests suggest VERB taxlaw-2807 565 14 that that SCONJ taxlaw-2807 565 15 people people NOUN taxlaw-2807 565 16 do do AUX taxlaw-2807 565 17 not not PART taxlaw-2807 565 18 attach attach VERB taxlaw-2807 565 19 special special ADJ taxlaw-2807 565 20 value value NOUN taxlaw-2807 565 21 for for ADP taxlaw-2807 565 22 assets asset NOUN taxlaw-2807 565 23 held hold VERB taxlaw-2807 565 24 primarily primarily ADV taxlaw-2807 565 25 for for ADP taxlaw-2807 565 26 exchange exchange NOUN taxlaw-2807 565 27 purposes purpose NOUN taxlaw-2807 565 28 . . PUNCT taxlaw-2807 566 1 see see VERB taxlaw-2807 566 2 daniel daniel PROPN taxlaw-2807 566 3 kahneman kahneman PROPN taxlaw-2807 566 4 , , PUNCT taxlaw-2807 566 5 et et PROPN taxlaw-2807 566 6 al al PROPN taxlaw-2807 566 7 . . PROPN taxlaw-2807 566 8 , , PUNCT taxlaw-2807 566 9 experimental experimental ADJ taxlaw-2807 566 10 tests test NOUN taxlaw-2807 566 11 of of ADP taxlaw-2807 566 12 the the DET taxlaw-2807 566 13 endowment endowment ADJ taxlaw-2807 566 14 effect effect NOUN taxlaw-2807 566 15 and and CCONJ taxlaw-2807 566 16 the the DET taxlaw-2807 566 17 coase coase PROPN taxlaw-2807 566 18 theorem theorem PROPN taxlaw-2807 566 19 , , PUNCT taxlaw-2807 566 20 98 98 NUM taxlaw-2807 566 21 the the DET taxlaw-2807 566 22 j. j. PROPN taxlaw-2807 566 23 of of ADP taxlaw-2807 566 24 political political ADJ taxlaw-2807 566 25 eco eco PROPN taxlaw-2807 566 26 . . PUNCT taxlaw-2807 567 1 1325 1325 NUM taxlaw-2807 567 2 , , PUNCT taxlaw-2807 567 3 1328 1328 NUM taxlaw-2807 567 4 ( ( PUNCT taxlaw-2807 567 5 1990 1990 NUM taxlaw-2807 567 6 ) ) PUNCT taxlaw-2807 567 7 . . PUNCT taxlaw-2807 568 1 143 143 NUM taxlaw-2807 568 2 see see VERB taxlaw-2807 568 3 infra infra NOUN taxlaw-2807 568 4 notes note VERB taxlaw-2807 568 5 187–191 187–191 NUM taxlaw-2807 568 6 . . PUNCT taxlaw-2807 569 1 144 144 NUM taxlaw-2807 569 2 this this DET taxlaw-2807 569 3 comment comment NOUN taxlaw-2807 569 4 is be AUX taxlaw-2807 569 5 relevant relevant ADJ taxlaw-2807 569 6 only only ADV taxlaw-2807 569 7 to to PART taxlaw-2807 569 8 well well ADV taxlaw-2807 569 9 - - PUNCT taxlaw-2807 569 10 being being NOUN taxlaw-2807 569 11 and and CCONJ taxlaw-2807 569 12 not not PART taxlaw-2807 569 13 to to ADP taxlaw-2807 569 14 more more ADV taxlaw-2807 569 15 objective objective ADJ taxlaw-2807 569 16 “ " PUNCT taxlaw-2807 569 17 currencies currency NOUN taxlaw-2807 569 18 ” " PUNCT taxlaw-2807 569 19 of of ADP taxlaw-2807 569 20 justice justice NOUN taxlaw-2807 569 21 . . PUNCT taxlaw-2807 570 1 145 145 NUM taxlaw-2807 570 2 we we PRON taxlaw-2807 570 3 wish wish VERB taxlaw-2807 570 4 to to PART taxlaw-2807 570 5 thank thank VERB taxlaw-2807 570 6 jacob jacob PROPN taxlaw-2807 570 7 nussim nussim PROPN taxlaw-2807 570 8 for for ADP taxlaw-2807 570 9 bringing bring VERB taxlaw-2807 570 10 this this DET taxlaw-2807 570 11 forceful forceful ADJ taxlaw-2807 570 12 argument argument NOUN taxlaw-2807 570 13 to to ADP taxlaw-2807 570 14 our our PRON taxlaw-2807 570 15 attention attention NOUN taxlaw-2807 570 16 . . PUNCT taxlaw-2807 571 1 2011 2011 NUM taxlaw-2807 571 2 ] ] PUNCT taxlaw-2807 571 3 realization realization NOUN taxlaw-2807 571 4 and and CCONJ taxlaw-2807 571 5 progressivity progressivity NOUN taxlaw-2807 571 6 69 69 NUM taxlaw-2807 571 7 farms farm NOUN taxlaw-2807 571 8 to to ADP taxlaw-2807 571 9 jewelry jewelry NOUN taxlaw-2807 571 10 , , PUNCT taxlaw-2807 571 11 are be AUX taxlaw-2807 571 12 often often ADV taxlaw-2807 571 13 transferred transfer VERB taxlaw-2807 571 14 by by ADP taxlaw-2807 571 15 gift gift NOUN taxlaw-2807 571 16 or or CCONJ taxlaw-2807 571 17 bequest bequest NOUN taxlaw-2807 571 18 . . PUNCT taxlaw-2807 572 1 hence hence ADV taxlaw-2807 572 2 , , PUNCT taxlaw-2807 572 3 the the DET taxlaw-2807 572 4 market market NOUN taxlaw-2807 572 5 is be AUX taxlaw-2807 572 6 not not PART taxlaw-2807 572 7 the the DET taxlaw-2807 572 8 ultimate ultimate ADJ taxlaw-2807 572 9 appraiser appraiser NOUN taxlaw-2807 572 10 of of ADP taxlaw-2807 572 11 many many ADJ taxlaw-2807 572 12 unrealized unrealized ADJ taxlaw-2807 572 13 personal personal ADJ taxlaw-2807 572 14 assets asset NOUN taxlaw-2807 572 15 , , PUNCT taxlaw-2807 572 16 which which PRON taxlaw-2807 572 17 leaves leave VERB taxlaw-2807 572 18 policymakers policymaker NOUN taxlaw-2807 572 19 with with ADP taxlaw-2807 572 20 the the DET taxlaw-2807 572 21 difficulties difficulty NOUN taxlaw-2807 572 22 associated associate VERB taxlaw-2807 572 23 with with ADP taxlaw-2807 572 24 the the DET taxlaw-2807 572 25 unobservable unobservable ADJ taxlaw-2807 572 26 varied varied ADJ taxlaw-2807 572 27 subjective subjective ADJ taxlaw-2807 572 28 values value NOUN taxlaw-2807 572 29 attached attach VERB taxlaw-2807 572 30 to to ADP taxlaw-2807 572 31 those those DET taxlaw-2807 572 32 assets asset NOUN taxlaw-2807 572 33 . . PUNCT taxlaw-2807 573 1 finally finally ADV taxlaw-2807 573 2 , , PUNCT taxlaw-2807 573 3 we we PRON taxlaw-2807 573 4 do do AUX taxlaw-2807 573 5 not not PART taxlaw-2807 573 6 wish wish VERB taxlaw-2807 573 7 to to PART taxlaw-2807 573 8 deny deny VERB taxlaw-2807 573 9 that that DET taxlaw-2807 573 10 fluctuation fluctuation NOUN taxlaw-2807 573 11 in in ADP taxlaw-2807 573 12 personal personal ADJ taxlaw-2807 573 13 assets asset NOUN taxlaw-2807 573 14 ’ ' PUNCT taxlaw-2807 573 15 market market NOUN taxlaw-2807 573 16 values value NOUN taxlaw-2807 573 17 provides provide VERB taxlaw-2807 573 18 some some DET taxlaw-2807 573 19 relevant relevant ADJ taxlaw-2807 573 20 information information NOUN taxlaw-2807 573 21 about about ADP taxlaw-2807 573 22 individuals individual NOUN taxlaw-2807 573 23 ' ' PART taxlaw-2807 573 24 economic economic ADJ taxlaw-2807 573 25 well well NOUN taxlaw-2807 573 26 - - PUNCT taxlaw-2807 573 27 being being NOUN taxlaw-2807 573 28 . . PUNCT taxlaw-2807 574 1 recall recall VERB taxlaw-2807 574 2 the the DET taxlaw-2807 574 3 example example NOUN taxlaw-2807 574 4 of of ADP taxlaw-2807 574 5 the the DET taxlaw-2807 574 6 two two NUM taxlaw-2807 574 7 professors professor NOUN taxlaw-2807 574 8 . . PUNCT taxlaw-2807 575 1 it it PRON taxlaw-2807 575 2 is be AUX taxlaw-2807 575 3 difficult difficult ADJ taxlaw-2807 575 4 to to PART taxlaw-2807 575 5 deny deny VERB taxlaw-2807 575 6 that that SCONJ taxlaw-2807 575 7 the the DET taxlaw-2807 575 8 professor professor NOUN taxlaw-2807 575 9 with with ADP taxlaw-2807 575 10 the the DET taxlaw-2807 575 11 more more ADV taxlaw-2807 575 12 valuable valuable ADJ taxlaw-2807 575 13 home home NOUN taxlaw-2807 575 14 and and CCONJ taxlaw-2807 575 15 higher high ADJ taxlaw-2807 575 16 earning earning NOUN taxlaw-2807 575 17 capacity capacity NOUN taxlaw-2807 575 18 is be AUX taxlaw-2807 575 19 at at ADP taxlaw-2807 575 20 least least ADJ taxlaw-2807 575 21 in in ADP taxlaw-2807 575 22 some some DET taxlaw-2807 575 23 ways way NOUN taxlaw-2807 575 24 better well ADV taxlaw-2807 575 25 off off ADV taxlaw-2807 575 26 than than ADP taxlaw-2807 575 27 her her PRON taxlaw-2807 575 28 peer.146 peer.146 NOUN taxlaw-2807 575 29 we we PRON taxlaw-2807 575 30 argue argue VERB taxlaw-2807 575 31 , , PUNCT taxlaw-2807 575 32 however however ADV taxlaw-2807 575 33 , , PUNCT taxlaw-2807 575 34 that that SCONJ taxlaw-2807 575 35 more more ADJ taxlaw-2807 575 36 information information NOUN taxlaw-2807 575 37 is be AUX taxlaw-2807 575 38 not not PART taxlaw-2807 575 39 necessarily necessarily ADV taxlaw-2807 575 40 better well ADJ taxlaw-2807 575 41 if if SCONJ taxlaw-2807 575 42 it it PRON taxlaw-2807 575 43 affects affect VERB taxlaw-2807 575 44 policymakers policymaker NOUN taxlaw-2807 575 45 ’ ’ PART taxlaw-2807 575 46 tax tax NOUN taxlaw-2807 575 47 decisions decision NOUN taxlaw-2807 575 48 in in ADP taxlaw-2807 575 49 a a DET taxlaw-2807 575 50 way way NOUN taxlaw-2807 575 51 that that PRON taxlaw-2807 575 52 does do AUX taxlaw-2807 575 53 not not PART taxlaw-2807 575 54 seem seem VERB taxlaw-2807 575 55 to to PART taxlaw-2807 575 56 correspond correspond VERB taxlaw-2807 575 57 with with ADP taxlaw-2807 575 58 what what PRON taxlaw-2807 575 59 the the DET taxlaw-2807 575 60 tax tax NOUN taxlaw-2807 575 61 system system NOUN taxlaw-2807 575 62 is be AUX taxlaw-2807 575 63 trying try VERB taxlaw-2807 575 64 to to PART taxlaw-2807 575 65 achieve achieve VERB taxlaw-2807 575 66 . . PUNCT taxlaw-2807 576 1 the the DET taxlaw-2807 576 2 relevant relevant ADJ taxlaw-2807 576 3 tax tax NOUN taxlaw-2807 576 4 policy policy NOUN taxlaw-2807 576 5 inquiry inquiry NOUN taxlaw-2807 576 6 , , PUNCT taxlaw-2807 576 7 therefore therefore ADV taxlaw-2807 576 8 , , PUNCT taxlaw-2807 576 9 is be AUX taxlaw-2807 576 10 neither neither CCONJ taxlaw-2807 576 11 whether whether SCONJ taxlaw-2807 576 12 the the DET taxlaw-2807 576 13 market market NOUN taxlaw-2807 576 14 value value NOUN taxlaw-2807 576 15 of of ADP taxlaw-2807 576 16 personal personal ADJ taxlaw-2807 576 17 assets asset NOUN taxlaw-2807 576 18 is be AUX taxlaw-2807 576 19 equivalent equivalent ADJ taxlaw-2807 576 20 to to ADP taxlaw-2807 576 21 well well ADV taxlaw-2807 576 22 - - PUNCT taxlaw-2807 576 23 being be AUX taxlaw-2807 576 24 ( ( PUNCT taxlaw-2807 576 25 it it PRON taxlaw-2807 576 26 obviously obviously ADV taxlaw-2807 576 27 is be AUX taxlaw-2807 576 28 not not PART taxlaw-2807 576 29 ) ) PUNCT taxlaw-2807 576 30 nor nor CCONJ taxlaw-2807 576 31 whether whether SCONJ taxlaw-2807 576 32 it it PRON taxlaw-2807 576 33 is be AUX taxlaw-2807 576 34 a a DET taxlaw-2807 576 35 proxy proxy NOUN taxlaw-2807 576 36 for for ADP taxlaw-2807 576 37 well well ADV taxlaw-2807 576 38 - - PUNCT taxlaw-2807 576 39 being be AUX taxlaw-2807 576 40 ( ( PUNCT taxlaw-2807 576 41 it it PRON taxlaw-2807 576 42 obviously obviously ADV taxlaw-2807 576 43 is be AUX taxlaw-2807 576 44 ) ) PUNCT taxlaw-2807 576 45 . . PUNCT taxlaw-2807 577 1 the the DET taxlaw-2807 577 2 relevant relevant ADJ taxlaw-2807 577 3 question question NOUN taxlaw-2807 577 4 is be AUX taxlaw-2807 577 5 whether whether SCONJ taxlaw-2807 577 6 market market NOUN taxlaw-2807 577 7 value value NOUN taxlaw-2807 577 8 is be AUX taxlaw-2807 577 9 a a DET taxlaw-2807 577 10 good good ADJ taxlaw-2807 577 11 proxy proxy NOUN taxlaw-2807 577 12 for for ADP taxlaw-2807 577 13 well well ADV taxlaw-2807 577 14 - - PUNCT taxlaw-2807 577 15 being being NOUN taxlaw-2807 577 16 — — PUNCT taxlaw-2807 577 17 and and CCONJ taxlaw-2807 577 18 this this DET taxlaw-2807 577 19 subpart subpart NOUN taxlaw-2807 577 20 has have AUX taxlaw-2807 577 21 established establish VERB taxlaw-2807 577 22 why why SCONJ taxlaw-2807 577 23 the the DET taxlaw-2807 577 24 proxy proxy NOUN taxlaw-2807 577 25 value value NOUN taxlaw-2807 577 26 of of ADP taxlaw-2807 577 27 the the DET taxlaw-2807 577 28 market market NOUN taxlaw-2807 577 29 price price NOUN taxlaw-2807 577 30 is be AUX taxlaw-2807 577 31 poor poor ADJ taxlaw-2807 577 32 with with ADP taxlaw-2807 577 33 respect respect NOUN taxlaw-2807 577 34 to to ADP taxlaw-2807 577 35 emotionally emotionally ADV taxlaw-2807 577 36 non non ADJ taxlaw-2807 577 37 - - ADJ taxlaw-2807 577 38 fungible fungible ADJ taxlaw-2807 577 39 assets asset NOUN taxlaw-2807 577 40 . . PUNCT taxlaw-2807 578 1 if if SCONJ taxlaw-2807 578 2 the the DET taxlaw-2807 578 3 realization realization NOUN taxlaw-2807 578 4 principle principle NOUN taxlaw-2807 578 5 is be AUX taxlaw-2807 578 6 justified justify VERB taxlaw-2807 578 7 only only ADV taxlaw-2807 578 8 with with ADP taxlaw-2807 578 9 respect respect NOUN taxlaw-2807 578 10 to to ADP taxlaw-2807 578 11 personal personal ADJ taxlaw-2807 578 12 assets asset NOUN taxlaw-2807 578 13 , , PUNCT taxlaw-2807 578 14 it it PRON taxlaw-2807 578 15 follows follow VERB taxlaw-2807 578 16 that that SCONJ taxlaw-2807 578 17 this this DET taxlaw-2807 578 18 normative normative ADJ taxlaw-2807 578 19 constraint constraint NOUN taxlaw-2807 578 20 does do AUX taxlaw-2807 578 21 not not PART taxlaw-2807 578 22 apply apply VERB taxlaw-2807 578 23 , , PUNCT taxlaw-2807 578 24 or or CCONJ taxlaw-2807 578 25 applies apply VERB taxlaw-2807 578 26 with with ADP taxlaw-2807 578 27 much much ADV taxlaw-2807 578 28 less less ADJ taxlaw-2807 578 29 force force NOUN taxlaw-2807 578 30 , , PUNCT taxlaw-2807 578 31 with with ADP taxlaw-2807 578 32 respect respect NOUN taxlaw-2807 578 33 to to ADP taxlaw-2807 578 34 other other ADJ taxlaw-2807 578 35 assets asset NOUN taxlaw-2807 578 36 . . PUNCT taxlaw-2807 579 1 the the DET taxlaw-2807 579 2 upshot upshot NOUN taxlaw-2807 579 3 of of ADP taxlaw-2807 579 4 this this DET taxlaw-2807 579 5 analysis analysis NOUN taxlaw-2807 579 6 is be AUX taxlaw-2807 579 7 that that SCONJ taxlaw-2807 579 8 if if SCONJ taxlaw-2807 579 9 policymakers policymaker NOUN taxlaw-2807 579 10 consider consider VERB taxlaw-2807 579 11 income income NOUN taxlaw-2807 579 12 to to PART taxlaw-2807 579 13 be be AUX taxlaw-2807 579 14 a a DET taxlaw-2807 579 15 good good ADJ taxlaw-2807 579 16 benchmark benchmark NOUN taxlaw-2807 579 17 for for ADP taxlaw-2807 579 18 redistributive redistributive ADJ taxlaw-2807 579 19 taxation taxation NOUN taxlaw-2807 579 20 , , PUNCT taxlaw-2807 579 21 then then ADV taxlaw-2807 579 22 there there PRON taxlaw-2807 579 23 may may AUX taxlaw-2807 579 24 be be AUX taxlaw-2807 579 25 a a DET taxlaw-2807 579 26 case case NOUN taxlaw-2807 579 27 for for ADP taxlaw-2807 579 28 adopting adopt VERB taxlaw-2807 579 29 a a DET taxlaw-2807 579 30 hybrid hybrid ADJ taxlaw-2807 579 31 mark mark NOUN taxlaw-2807 579 32 - - PUNCT taxlaw-2807 579 33 to to ADP taxlaw-2807 579 34 - - PUNCT taxlaw-2807 579 35 market market NOUN taxlaw-2807 579 36 - - PUNCT taxlaw-2807 579 37 realization realization NOUN taxlaw-2807 579 38 tax tax NOUN taxlaw-2807 579 39 regime regime NOUN taxlaw-2807 579 40 . . PUNCT taxlaw-2807 580 1 this this DET taxlaw-2807 580 2 regime regime NOUN taxlaw-2807 580 3 would would AUX taxlaw-2807 580 4 tax tax VERB taxlaw-2807 580 5 certain certain ADJ taxlaw-2807 580 6 assets asset NOUN taxlaw-2807 580 7 , , PUNCT taxlaw-2807 580 8 namely namely ADV taxlaw-2807 580 9 investment investment NOUN taxlaw-2807 580 10 assets asset NOUN taxlaw-2807 580 11 , , PUNCT taxlaw-2807 580 12 under under ADP taxlaw-2807 580 13 a a DET taxlaw-2807 580 14 mark mark NOUN taxlaw-2807 580 15 - - PUNCT taxlaw-2807 580 16 to to ADP taxlaw-2807 580 17 - - PUNCT taxlaw-2807 580 18 market market NOUN taxlaw-2807 580 19 system system NOUN taxlaw-2807 580 20 while while SCONJ taxlaw-2807 580 21 taxing tax VERB taxlaw-2807 580 22 personal personal ADJ taxlaw-2807 580 23 assets asset NOUN taxlaw-2807 580 24 on on ADP taxlaw-2807 580 25 a a DET taxlaw-2807 580 26 realization realization NOUN taxlaw-2807 580 27 basis basis NOUN taxlaw-2807 580 28 . . PUNCT taxlaw-2807 581 1 the the DET taxlaw-2807 581 2 next next ADJ taxlaw-2807 581 3 subpart subpart NOUN taxlaw-2807 581 4 argues argue VERB taxlaw-2807 581 5 that that SCONJ taxlaw-2807 581 6 in in ADP taxlaw-2807 581 7 the the DET taxlaw-2807 581 8 context context NOUN taxlaw-2807 581 9 of of ADP taxlaw-2807 581 10 such such DET taxlaw-2807 581 11 a a DET taxlaw-2807 581 12 regime regime NOUN taxlaw-2807 581 13 , , PUNCT taxlaw-2807 581 14 the the DET taxlaw-2807 581 15 realization realization NOUN taxlaw-2807 581 16 requirement requirement NOUN taxlaw-2807 581 17 offers offer VERB taxlaw-2807 581 18 a a DET taxlaw-2807 581 19 reasonable reasonable ADJ taxlaw-2807 581 20 policy policy NOUN taxlaw-2807 581 21 tool tool NOUN taxlaw-2807 581 22 to to PART taxlaw-2807 581 23 assure assure VERB taxlaw-2807 581 24 the the DET taxlaw-2807 581 25 progressivity progressivity NOUN taxlaw-2807 581 26 of of ADP taxlaw-2807 581 27 the the DET taxlaw-2807 581 28 income income NOUN taxlaw-2807 581 29 tax tax NOUN taxlaw-2807 581 30 base base NOUN taxlaw-2807 581 31 . . PUNCT taxlaw-2807 582 1 part part NOUN taxlaw-2807 582 2 iv iv NUM taxlaw-2807 582 3 explains explain VERB taxlaw-2807 582 4 the the DET taxlaw-2807 582 5 fundamental fundamental ADJ taxlaw-2807 582 6 attributes attribute NOUN taxlaw-2807 582 7 of of ADP taxlaw-2807 582 8 such such DET taxlaw-2807 582 9 a a DET taxlaw-2807 582 10 hybrid hybrid ADJ taxlaw-2807 582 11 income income NOUN taxlaw-2807 582 12 tax tax NOUN taxlaw-2807 582 13 regime regime NOUN taxlaw-2807 582 14 and and CCONJ taxlaw-2807 582 15 suggests suggest VERB taxlaw-2807 582 16 a a DET taxlaw-2807 582 17 realistic realistic ADJ taxlaw-2807 582 18 proposal proposal NOUN taxlaw-2807 582 19 for for ADP taxlaw-2807 582 20 reform reform NOUN taxlaw-2807 582 21 that that PRON taxlaw-2807 582 22 offers offer VERB taxlaw-2807 582 23 improvements improvement NOUN taxlaw-2807 582 24 over over ADP taxlaw-2807 582 25 the the DET taxlaw-2807 582 26 current current ADJ taxlaw-2807 582 27 realization realization NOUN taxlaw-2807 582 28 - - PUNCT taxlaw-2807 582 29 based base VERB taxlaw-2807 582 30 regime regime NOUN taxlaw-2807 582 31 in in ADP taxlaw-2807 582 32 terms term NOUN taxlaw-2807 582 33 of of ADP taxlaw-2807 582 34 complexity complexity NOUN taxlaw-2807 582 35 , , PUNCT taxlaw-2807 582 36 equity equity NOUN taxlaw-2807 582 37 , , PUNCT taxlaw-2807 582 38 and and CCONJ taxlaw-2807 582 39 revenue revenue NOUN taxlaw-2807 582 40 . . PUNCT taxlaw-2807 583 1 c. c. NOUN taxlaw-2807 583 2 realization realization NOUN taxlaw-2807 583 3 as as ADP taxlaw-2807 583 4 a a DET taxlaw-2807 583 5 progressively progressively ADV taxlaw-2807 583 6 distributed distribute VERB taxlaw-2807 583 7 tax tax NOUN taxlaw-2807 583 8 benefit benefit NOUN taxlaw-2807 583 9 this this DET taxlaw-2807 583 10 subpart subpart NOUN taxlaw-2807 583 11 establishes establish VERB taxlaw-2807 583 12 why why SCONJ taxlaw-2807 583 13 a a DET taxlaw-2807 583 14 hybrid hybrid ADJ taxlaw-2807 583 15 tax tax NOUN taxlaw-2807 583 16 regime regime NOUN taxlaw-2807 583 17 that that PRON taxlaw-2807 583 18 taxes tax VERB taxlaw-2807 583 19 personal personal ADJ taxlaw-2807 583 20 assets asset NOUN taxlaw-2807 583 21 on on ADP taxlaw-2807 583 22 a a DET taxlaw-2807 583 23 realization realization NOUN taxlaw-2807 583 24 basis basis NOUN taxlaw-2807 583 25 and and CCONJ taxlaw-2807 583 26 other other ADJ taxlaw-2807 583 27 ( ( PUNCT taxlaw-2807 583 28 namely namely ADV taxlaw-2807 583 29 , , PUNCT taxlaw-2807 583 30 investment investment NOUN taxlaw-2807 583 31 ) ) PUNCT taxlaw-2807 583 32 assets asset NOUN taxlaw-2807 583 33 on on ADP taxlaw-2807 583 34 a a DET taxlaw-2807 583 35 mark mark NOUN taxlaw-2807 583 36 - - PUNCT taxlaw-2807 583 37 to to ADP taxlaw-2807 583 38 - - PUNCT taxlaw-2807 583 39 market market NOUN taxlaw-2807 583 40 basis basis NOUN taxlaw-2807 583 41 would would AUX taxlaw-2807 583 42 help help VERB taxlaw-2807 583 43 promote promote VERB taxlaw-2807 583 44 a a DET taxlaw-2807 583 45 more more ADV taxlaw-2807 583 46 progressive progressive ADJ taxlaw-2807 583 47 redistribution redistribution NOUN taxlaw-2807 583 48 of of ADP taxlaw-2807 583 49 income income NOUN taxlaw-2807 583 50 in in ADP taxlaw-2807 583 51 society society NOUN taxlaw-2807 583 52 . . PUNCT taxlaw-2807 584 1 the the DET taxlaw-2807 584 2 key key ADJ taxlaw-2807 584 3 point point NOUN taxlaw-2807 584 4 is be AUX taxlaw-2807 584 5 that that SCONJ taxlaw-2807 584 6 personal personal ADJ taxlaw-2807 584 7 assets asset NOUN taxlaw-2807 584 8 represent represent VERB taxlaw-2807 584 9 a a DET taxlaw-2807 584 10 larger large ADJ taxlaw-2807 584 11 portion portion NOUN taxlaw-2807 584 12 of of ADP taxlaw-2807 584 13 the the DET taxlaw-2807 584 14 wealth wealth NOUN taxlaw-2807 584 15 of of ADP taxlaw-2807 584 16 low low ADJ taxlaw-2807 584 17 and and CCONJ taxlaw-2807 584 18 ( ( PUNCT taxlaw-2807 584 19 especially especially ADV taxlaw-2807 584 20 ) ) PUNCT taxlaw-2807 584 21 medium medium ADJ taxlaw-2807 584 22 - - PUNCT taxlaw-2807 584 23 income income NOUN taxlaw-2807 584 24 taxpayers taxpayer NOUN taxlaw-2807 584 25 than than ADP taxlaw-2807 584 26 of of ADP taxlaw-2807 584 27 the the DET taxlaw-2807 584 28 wealthy.147 wealthy.147 NOUN taxlaw-2807 584 29 put put VERB taxlaw-2807 584 30 differently differently ADV taxlaw-2807 584 31 , , PUNCT taxlaw-2807 584 32 such such DET taxlaw-2807 584 33 a a DET taxlaw-2807 584 34 regime regime NOUN taxlaw-2807 584 35 would would AUX taxlaw-2807 584 36 promote promote VERB taxlaw-2807 584 37 progressivity progressivity NOUN taxlaw-2807 584 38 because because SCONJ taxlaw-2807 584 39 investment investment NOUN taxlaw-2807 584 40 assets asset NOUN taxlaw-2807 584 41 , , PUNCT taxlaw-2807 584 42 which which PRON taxlaw-2807 584 43 categorically categorically ADV taxlaw-2807 584 44 are be AUX taxlaw-2807 584 45 not not PART taxlaw-2807 584 46 personal personal ADJ taxlaw-2807 584 47 assets asset NOUN taxlaw-2807 584 48 , , PUNCT taxlaw-2807 584 49 are be AUX taxlaw-2807 584 50 disproportionally disproportionally ADV taxlaw-2807 584 51 held hold VERB taxlaw-2807 584 52 by by ADP taxlaw-2807 584 53 affluent affluent ADJ taxlaw-2807 584 54 taxpayers taxpayer NOUN taxlaw-2807 584 55 . . PUNCT taxlaw-2807 585 1 therefore therefore ADV taxlaw-2807 585 2 , , PUNCT taxlaw-2807 585 3 providing provide VERB taxlaw-2807 585 4 a a DET taxlaw-2807 585 5 tax tax NOUN taxlaw-2807 585 6 benefit benefit NOUN taxlaw-2807 585 7 to to ADP taxlaw-2807 585 8 personal personal ADJ taxlaw-2807 585 9 assets asset NOUN taxlaw-2807 585 10 , , PUNCT taxlaw-2807 585 11 and and CCONJ taxlaw-2807 585 12 not not PART taxlaw-2807 585 13 to to ADP taxlaw-2807 585 14 other other ADJ taxlaw-2807 585 15 assets asset NOUN taxlaw-2807 585 16 , , PUNCT taxlaw-2807 585 17 would would AUX taxlaw-2807 585 18 make make VERB taxlaw-2807 585 19 the the DET taxlaw-2807 585 20 tax tax NOUN taxlaw-2807 585 21 system system NOUN taxlaw-2807 585 22 as as ADP taxlaw-2807 585 23 a a DET taxlaw-2807 585 24 whole whole ADV taxlaw-2807 585 25 more more ADV taxlaw-2807 585 26 progressive progressive ADJ taxlaw-2807 585 27 . . PUNCT taxlaw-2807 586 1 this this DET taxlaw-2807 586 2 claim claim NOUN taxlaw-2807 586 3 should should AUX taxlaw-2807 586 4 be be AUX taxlaw-2807 586 5 integrated integrate VERB taxlaw-2807 586 6 with with ADP taxlaw-2807 586 7 the the DET taxlaw-2807 586 8 claim claim NOUN taxlaw-2807 586 9 of of ADP taxlaw-2807 586 10 the the DET taxlaw-2807 586 11 above above ADJ taxlaw-2807 586 12 subpart subpart NOUN taxlaw-2807 586 13 rather rather ADV taxlaw-2807 586 14 than than ADP taxlaw-2807 586 15 understood understand VERB taxlaw-2807 586 16 as as ADP taxlaw-2807 586 17 free free ADJ taxlaw-2807 586 18 standing standing NOUN taxlaw-2807 586 19 . . PUNCT taxlaw-2807 587 1 having have VERB taxlaw-2807 587 2 a a DET taxlaw-2807 587 3 progressive progressive ADJ taxlaw-2807 587 4 income income NOUN taxlaw-2807 587 5 tax tax NOUN taxlaw-2807 587 6 does do AUX taxlaw-2807 587 7 not not PART taxlaw-2807 587 8 require require VERB taxlaw-2807 587 9 giving give VERB taxlaw-2807 587 10 realization realization NOUN taxlaw-2807 587 11 - - PUNCT taxlaw-2807 587 12 based base VERB taxlaw-2807 587 13 treatment treatment NOUN taxlaw-2807 587 14 to to ADP taxlaw-2807 587 15 personal personal ADJ taxlaw-2807 587 16 assets asset NOUN taxlaw-2807 587 17 . . PUNCT taxlaw-2807 588 1 however however ADV taxlaw-2807 588 2 , , PUNCT taxlaw-2807 588 3 given give VERB taxlaw-2807 588 4 the the DET taxlaw-2807 588 5 difficulty difficulty NOUN taxlaw-2807 588 6 of of ADP taxlaw-2807 588 7 using use VERB taxlaw-2807 588 8 the the DET taxlaw-2807 588 9 market market NOUN taxlaw-2807 588 10 value value NOUN taxlaw-2807 588 11 of of ADP taxlaw-2807 588 12 personal personal ADJ taxlaw-2807 588 13 assets asset NOUN taxlaw-2807 588 14 as as ADP taxlaw-2807 588 15 a a DET taxlaw-2807 588 16 proxy proxy NOUN taxlaw-2807 588 17 for for ADP taxlaw-2807 588 18 well well ADV taxlaw-2807 588 19 - - PUNCT taxlaw-2807 588 20 being being NOUN taxlaw-2807 588 21 , , PUNCT taxlaw-2807 588 22 taxing tax VERB taxlaw-2807 588 23 only only ADV taxlaw-2807 588 24 those those DET taxlaw-2807 588 25 assets asset NOUN taxlaw-2807 588 26 upon upon SCONJ taxlaw-2807 588 27 realization realization NOUN taxlaw-2807 588 28 should should AUX taxlaw-2807 588 29 be be AUX taxlaw-2807 588 30 viewed view VERB taxlaw-2807 588 31 as as ADP taxlaw-2807 588 32 a a DET taxlaw-2807 588 33 progressive progressive ADJ taxlaw-2807 588 34 move move NOUN taxlaw-2807 588 35 . . PUNCT taxlaw-2807 589 1 if if SCONJ taxlaw-2807 589 2 confined confine VERB taxlaw-2807 589 3 to to ADP taxlaw-2807 589 4 personal personal ADJ taxlaw-2807 589 5 assets asset NOUN taxlaw-2807 589 6 , , PUNCT taxlaw-2807 589 7 the the DET taxlaw-2807 589 8 realization realization NOUN taxlaw-2807 589 9 treatment treatment NOUN taxlaw-2807 589 10 would would AUX taxlaw-2807 589 11 still still ADV taxlaw-2807 589 12 be be AUX taxlaw-2807 589 13 a a DET taxlaw-2807 589 14 tax tax NOUN taxlaw-2807 589 15 benefit benefit NOUN taxlaw-2807 589 16 and and CCONJ taxlaw-2807 589 17 would would AUX taxlaw-2807 589 18 continue continue VERB taxlaw-2807 589 19 to to PART taxlaw-2807 589 20 cause cause VERB taxlaw-2807 589 21 some some DET taxlaw-2807 589 22 distortions distortion NOUN taxlaw-2807 589 23 and and CCONJ taxlaw-2807 589 24 inequities inequity NOUN taxlaw-2807 589 25 . . PUNCT taxlaw-2807 590 1 however however ADV taxlaw-2807 590 2 , , PUNCT taxlaw-2807 590 3 given give VERB taxlaw-2807 590 4 that that SCONJ taxlaw-2807 590 5 personal personal ADJ taxlaw-2807 590 6 assets asset NOUN taxlaw-2807 590 7 comprise comprise VERB taxlaw-2807 590 8 a a DET taxlaw-2807 590 9 much much ADV taxlaw-2807 590 10 greater great ADJ taxlaw-2807 590 11 component component NOUN taxlaw-2807 590 12 of of ADP taxlaw-2807 590 13 non non ADJ taxlaw-2807 590 14 - - ADJ taxlaw-2807 590 15 affluent affluent ADJ taxlaw-2807 590 16 individuals individual NOUN taxlaw-2807 590 17 ’ ' PUNCT taxlaw-2807 590 18 resources resource NOUN taxlaw-2807 590 19 , , PUNCT taxlaw-2807 590 20 it it PRON taxlaw-2807 590 21 would would AUX taxlaw-2807 590 22 be be AUX taxlaw-2807 590 23 , , PUNCT taxlaw-2807 590 24 overall overall ADJ taxlaw-2807 590 25 , , PUNCT taxlaw-2807 590 26 a a DET taxlaw-2807 590 27 146 146 NUM taxlaw-2807 590 28 most most ADV taxlaw-2807 590 29 notably notably ADV taxlaw-2807 590 30 , , PUNCT taxlaw-2807 590 31 the the DET taxlaw-2807 590 32 professor professor NOUN taxlaw-2807 590 33 with with ADP taxlaw-2807 590 34 the the DET taxlaw-2807 590 35 more more ADV taxlaw-2807 590 36 valuable valuable ADJ taxlaw-2807 590 37 assets asset NOUN taxlaw-2807 590 38 can can AUX taxlaw-2807 590 39 offer offer VERB taxlaw-2807 590 40 them they PRON taxlaw-2807 590 41 as as ADP taxlaw-2807 590 42 collateral collateral NOUN taxlaw-2807 590 43 to to ADP taxlaw-2807 590 44 creditors creditor NOUN taxlaw-2807 590 45 and and CCONJ taxlaw-2807 590 46 borrow borrow VERB taxlaw-2807 590 47 at at ADP taxlaw-2807 590 48 a a DET taxlaw-2807 590 49 lower low ADJ taxlaw-2807 590 50 interest interest NOUN taxlaw-2807 590 51 rate rate NOUN taxlaw-2807 590 52 or or CCONJ taxlaw-2807 590 53 rely rely VERB taxlaw-2807 590 54 on on ADP taxlaw-2807 590 55 them they PRON taxlaw-2807 590 56 in in ADP taxlaw-2807 590 57 cases case NOUN taxlaw-2807 590 58 of of ADP taxlaw-2807 590 59 emergency emergency NOUN taxlaw-2807 590 60 . . PUNCT taxlaw-2807 591 1 147 147 NUM taxlaw-2807 591 2 see see NOUN taxlaw-2807 591 3 kennickel kennickel NOUN taxlaw-2807 591 4 , , PUNCT taxlaw-2807 591 5 supra supra PROPN taxlaw-2807 591 6 note note PROPN taxlaw-2807 591 7 114 114 NUM taxlaw-2807 591 8 , , PUNCT taxlaw-2807 591 9 at at ADP taxlaw-2807 591 10 53–55 53–55 NUM taxlaw-2807 591 11 . . PUNCT taxlaw-2807 592 1 see see VERB taxlaw-2807 592 2 also also ADV taxlaw-2807 592 3 infra infra VERB taxlaw-2807 592 4 appendix appendix NOUN taxlaw-2807 592 5 . . PUNCT taxlaw-2807 593 1 70 70 NUM taxlaw-2807 593 2 columbia columbia PROPN taxlaw-2807 593 3 journal journal PROPN taxlaw-2807 593 4 of of ADP taxlaw-2807 593 5 tax tax NOUN taxlaw-2807 593 6 law law NOUN taxlaw-2807 593 7 [ [ X taxlaw-2807 593 8 vol.3:43 vol.3:43 PROPN taxlaw-2807 593 9 progressively progressively ADV taxlaw-2807 593 10 distributed distribute VERB taxlaw-2807 593 11 tax tax NOUN taxlaw-2807 593 12 benefit benefit NOUN taxlaw-2807 593 13 . . PUNCT taxlaw-2807 594 1 this this DET taxlaw-2807 594 2 subpart subpart NOUN taxlaw-2807 594 3 only only ADV taxlaw-2807 594 4 argues argue VERB taxlaw-2807 594 5 that that SCONJ taxlaw-2807 594 6 limiting limit VERB taxlaw-2807 594 7 the the DET taxlaw-2807 594 8 application application NOUN taxlaw-2807 594 9 of of ADP taxlaw-2807 594 10 the the DET taxlaw-2807 594 11 realization realization NOUN taxlaw-2807 594 12 requirement requirement NOUN taxlaw-2807 594 13 to to ADP taxlaw-2807 594 14 personal personal ADJ taxlaw-2807 594 15 assets asset NOUN taxlaw-2807 594 16 makes make VERB taxlaw-2807 594 17 the the DET taxlaw-2807 594 18 tax tax NOUN taxlaw-2807 594 19 base base NOUN taxlaw-2807 594 20 more more ADV taxlaw-2807 594 21 progressive progressive ADJ taxlaw-2807 594 22 . . PUNCT taxlaw-2807 595 1 the the DET taxlaw-2807 595 2 more more ADV taxlaw-2807 595 3 complicated complicated ADJ taxlaw-2807 595 4 task task NOUN taxlaw-2807 595 5 of of ADP taxlaw-2807 595 6 discussing discuss VERB taxlaw-2807 595 7 why why SCONJ taxlaw-2807 595 8 tax tax NOUN taxlaw-2807 595 9 progressivity progressivity NOUN taxlaw-2807 595 10 is be AUX taxlaw-2807 595 11 warranted warrant VERB taxlaw-2807 595 12 , , PUNCT taxlaw-2807 595 13 and and CCONJ taxlaw-2807 595 14 whether whether SCONJ taxlaw-2807 595 15 taxing tax VERB taxlaw-2807 595 16 personal personal ADJ taxlaw-2807 595 17 assets asset NOUN taxlaw-2807 595 18 only only ADV taxlaw-2807 595 19 upon upon SCONJ taxlaw-2807 595 20 realization realization NOUN taxlaw-2807 595 21 comprises comprise VERB taxlaw-2807 595 22 a a DET taxlaw-2807 595 23 sound sound ADJ taxlaw-2807 595 24 policy policy NOUN taxlaw-2807 595 25 to to PART taxlaw-2807 595 26 achieve achieve VERB taxlaw-2807 595 27 progressivity progressivity NOUN taxlaw-2807 595 28 , , PUNCT taxlaw-2807 595 29 is be AUX taxlaw-2807 595 30 left leave VERB taxlaw-2807 595 31 for for ADP taxlaw-2807 595 32 the the DET taxlaw-2807 595 33 next next ADJ taxlaw-2807 595 34 subpart subpart NOUN taxlaw-2807 595 35 . . PUNCT taxlaw-2807 596 1 at at ADP taxlaw-2807 596 2 the the DET taxlaw-2807 596 3 outset outset NOUN taxlaw-2807 596 4 it it PRON taxlaw-2807 596 5 is be AUX taxlaw-2807 596 6 clear clear ADJ taxlaw-2807 596 7 that that SCONJ taxlaw-2807 596 8 even even ADV taxlaw-2807 596 9 though though SCONJ taxlaw-2807 596 10 personal personal ADJ taxlaw-2807 596 11 assets asset NOUN taxlaw-2807 596 12 are be AUX taxlaw-2807 596 13 not not PART taxlaw-2807 596 14 unique unique ADJ taxlaw-2807 596 15 to to ADP taxlaw-2807 596 16 less less ADV taxlaw-2807 596 17 affluent affluent ADJ taxlaw-2807 596 18 taxpayers taxpayer NOUN taxlaw-2807 596 19 , , PUNCT taxlaw-2807 596 20 they they PRON taxlaw-2807 596 21 comprise comprise VERB taxlaw-2807 596 22 a a DET taxlaw-2807 596 23 much much ADV taxlaw-2807 596 24 larger large ADJ taxlaw-2807 596 25 proportion proportion NOUN taxlaw-2807 596 26 of of ADP taxlaw-2807 596 27 those those DET taxlaw-2807 596 28 taxpayers taxpayer NOUN taxlaw-2807 596 29 ’ ’ PART taxlaw-2807 596 30 wealth wealth NOUN taxlaw-2807 596 31 . . PUNCT taxlaw-2807 597 1 for for ADP taxlaw-2807 597 2 example example NOUN taxlaw-2807 597 3 , , PUNCT taxlaw-2807 597 4 in in ADP taxlaw-2807 597 5 a a DET taxlaw-2807 597 6 pure pure ADJ taxlaw-2807 597 7 mark mark NOUN taxlaw-2807 597 8 - - PUNCT taxlaw-2807 597 9 to to ADP taxlaw-2807 597 10 - - PUNCT taxlaw-2807 597 11 market market NOUN taxlaw-2807 597 12 system system NOUN taxlaw-2807 597 13 both both CCONJ taxlaw-2807 597 14 joe joe PROPN taxlaw-2807 597 15 six six NUM taxlaw-2807 597 16 pack pack NOUN taxlaw-2807 597 17 and and CCONJ taxlaw-2807 597 18 bill bill NOUN taxlaw-2807 597 19 gates gate NOUN taxlaw-2807 597 20 would would AUX taxlaw-2807 597 21 be be AUX taxlaw-2807 597 22 taxed tax VERB taxlaw-2807 597 23 on on ADP taxlaw-2807 597 24 the the DET taxlaw-2807 597 25 change change NOUN taxlaw-2807 597 26 in in ADP taxlaw-2807 597 27 market market NOUN taxlaw-2807 597 28 value value NOUN taxlaw-2807 597 29 of of ADP taxlaw-2807 597 30 their their PRON taxlaw-2807 597 31 identical identical ADJ taxlaw-2807 597 32 golden golden ADJ taxlaw-2807 597 33 wedding wedding NOUN taxlaw-2807 597 34 rings ring NOUN taxlaw-2807 597 35 . . PUNCT taxlaw-2807 598 1 assume assume VERB taxlaw-2807 598 2 that that SCONJ taxlaw-2807 598 3 gates gate NOUN taxlaw-2807 598 4 values value VERB taxlaw-2807 598 5 his his PRON taxlaw-2807 598 6 ring ring NOUN taxlaw-2807 598 7 at at ADP taxlaw-2807 598 8 $ $ SYM taxlaw-2807 598 9 500,000 500,000 NUM taxlaw-2807 598 10 , , PUNCT taxlaw-2807 598 11 joe joe PROPN taxlaw-2807 598 12 values value VERB taxlaw-2807 598 13 his his PRON taxlaw-2807 598 14 at at ADP taxlaw-2807 598 15 $ $ SYM taxlaw-2807 598 16 5,000 5,000 NUM taxlaw-2807 598 17 , , PUNCT taxlaw-2807 598 18 and and CCONJ taxlaw-2807 598 19 each each DET taxlaw-2807 598 20 ring ring NOUN taxlaw-2807 598 21 has have VERB taxlaw-2807 598 22 a a DET taxlaw-2807 598 23 market market NOUN taxlaw-2807 598 24 value value NOUN taxlaw-2807 598 25 of of ADP taxlaw-2807 598 26 $ $ SYM taxlaw-2807 598 27 500 500 NUM taxlaw-2807 598 28 . . PUNCT taxlaw-2807 599 1 the the DET taxlaw-2807 599 2 strength strength NOUN taxlaw-2807 599 3 of of ADP taxlaw-2807 599 4 the the DET taxlaw-2807 599 5 mark mark NOUN taxlaw-2807 599 6 - - PUNCT taxlaw-2807 599 7 to to ADP taxlaw-2807 599 8 - - PUNCT taxlaw-2807 599 9 market market NOUN taxlaw-2807 599 10 approach approach NOUN taxlaw-2807 599 11 is be AUX taxlaw-2807 599 12 that that SCONJ taxlaw-2807 599 13 it it PRON taxlaw-2807 599 14 avoids avoid VERB taxlaw-2807 599 15 inquiries inquiry NOUN taxlaw-2807 599 16 about about ADP taxlaw-2807 599 17 subjective subjective ADJ taxlaw-2807 599 18 value value NOUN taxlaw-2807 599 19 and and CCONJ taxlaw-2807 599 20 focuses focus VERB taxlaw-2807 599 21 solely solely ADV taxlaw-2807 599 22 on on ADP taxlaw-2807 599 23 the the DET taxlaw-2807 599 24 market market NOUN taxlaw-2807 599 25 price price NOUN taxlaw-2807 599 26 as as ADP taxlaw-2807 599 27 an an DET taxlaw-2807 599 28 objective objective NOUN taxlaw-2807 599 29 and and CCONJ taxlaw-2807 599 30 value value VERB taxlaw-2807 599 31 free free ADJ taxlaw-2807 599 32 way way NOUN taxlaw-2807 599 33 to to PART taxlaw-2807 599 34 measure measure VERB taxlaw-2807 599 35 economic economic ADJ taxlaw-2807 599 36 ability ability NOUN taxlaw-2807 599 37 . . PUNCT taxlaw-2807 600 1 the the DET taxlaw-2807 600 2 important important ADJ taxlaw-2807 600 3 point point NOUN taxlaw-2807 600 4 , , PUNCT taxlaw-2807 600 5 however however ADV taxlaw-2807 600 6 , , PUNCT taxlaw-2807 600 7 is be AUX taxlaw-2807 600 8 that that SCONJ taxlaw-2807 600 9 even even ADV taxlaw-2807 600 10 if if SCONJ taxlaw-2807 600 11 both both DET taxlaw-2807 600 12 rings ring NOUN taxlaw-2807 600 13 were be AUX taxlaw-2807 600 14 identical identical ADJ taxlaw-2807 600 15 , , PUNCT taxlaw-2807 600 16 exempting exempt VERB taxlaw-2807 600 17 them they PRON taxlaw-2807 600 18 from from ADP taxlaw-2807 600 19 mark mark NOUN taxlaw-2807 600 20 - - PUNCT taxlaw-2807 600 21 to to ADP taxlaw-2807 600 22 - - PUNCT taxlaw-2807 600 23 market market NOUN taxlaw-2807 600 24 treatment treatment NOUN taxlaw-2807 600 25 would would AUX taxlaw-2807 600 26 not not PART taxlaw-2807 600 27 result result VERB taxlaw-2807 600 28 in in ADP taxlaw-2807 600 29 a a DET taxlaw-2807 600 30 distributional distributional ADJ taxlaw-2807 600 31 wash wash NOUN taxlaw-2807 600 32 . . PUNCT taxlaw-2807 601 1 the the DET taxlaw-2807 601 2 truth truth NOUN taxlaw-2807 601 3 is be AUX taxlaw-2807 601 4 that that SCONJ taxlaw-2807 601 5 gates gate NOUN taxlaw-2807 601 6 ’s ’s PART taxlaw-2807 601 7 ring ring NOUN taxlaw-2807 601 8 represents represent VERB taxlaw-2807 601 9 a a DET taxlaw-2807 601 10 much much ADV taxlaw-2807 601 11 smaller small ADJ taxlaw-2807 601 12 percentage percentage NOUN taxlaw-2807 601 13 of of ADP taxlaw-2807 601 14 his his PRON taxlaw-2807 601 15 overall overall ADJ taxlaw-2807 601 16 wealth wealth NOUN taxlaw-2807 601 17 than than SCONJ taxlaw-2807 601 18 joe joe PROPN taxlaw-2807 601 19 ’s ’s PART taxlaw-2807 601 20 ring ring NOUN taxlaw-2807 601 21 does do VERB taxlaw-2807 601 22 for for ADP taxlaw-2807 601 23 him he PRON taxlaw-2807 601 24 . . PUNCT taxlaw-2807 602 1 hence hence ADV taxlaw-2807 602 2 , , PUNCT taxlaw-2807 602 3 in in ADP taxlaw-2807 602 4 a a DET taxlaw-2807 602 5 revenue revenue NOUN taxlaw-2807 602 6 - - PUNCT taxlaw-2807 602 7 neutral neutral ADJ taxlaw-2807 602 8 setting setting NOUN taxlaw-2807 602 9 , , PUNCT taxlaw-2807 602 10 where where SCONJ taxlaw-2807 602 11 taxes taxis NOUN taxlaw-2807 602 12 forgone forgone NOUN taxlaw-2807 602 13 have have VERB taxlaw-2807 602 14 to to PART taxlaw-2807 602 15 be be AUX taxlaw-2807 602 16 raised raise VERB taxlaw-2807 602 17 somewhere somewhere ADV taxlaw-2807 602 18 else else ADV taxlaw-2807 602 19 within within ADP taxlaw-2807 602 20 the the DET taxlaw-2807 602 21 system system NOUN taxlaw-2807 602 22 , , PUNCT taxlaw-2807 602 23 granting grant VERB taxlaw-2807 602 24 a a DET taxlaw-2807 602 25 tax tax NOUN taxlaw-2807 602 26 benefit benefit NOUN taxlaw-2807 602 27 to to ADP taxlaw-2807 602 28 wedding wedding NOUN taxlaw-2807 602 29 rings ring NOUN taxlaw-2807 602 30 so so SCONJ taxlaw-2807 602 31 that that SCONJ taxlaw-2807 602 32 both both PRON taxlaw-2807 602 33 would would AUX taxlaw-2807 602 34 be be AUX taxlaw-2807 602 35 taxed tax VERB taxlaw-2807 602 36 only only ADV taxlaw-2807 602 37 upon upon SCONJ taxlaw-2807 602 38 realization realization NOUN taxlaw-2807 602 39 would would AUX taxlaw-2807 602 40 increase increase VERB taxlaw-2807 602 41 gates gate NOUN taxlaw-2807 602 42 ’s ’s PART taxlaw-2807 602 43 effective effective ADJ taxlaw-2807 602 44 tax tax NOUN taxlaw-2807 602 45 burden burden NOUN taxlaw-2807 602 46 . . PUNCT taxlaw-2807 603 1 if if SCONJ taxlaw-2807 603 2 the the DET taxlaw-2807 603 3 government government NOUN taxlaw-2807 603 4 wants want VERB taxlaw-2807 603 5 to to PART taxlaw-2807 603 6 maintain maintain VERB taxlaw-2807 603 7 a a DET taxlaw-2807 603 8 constant constant ADJ taxlaw-2807 603 9 level level NOUN taxlaw-2807 603 10 of of ADP taxlaw-2807 603 11 spending spending NOUN taxlaw-2807 603 12 without without ADP taxlaw-2807 603 13 adding add VERB taxlaw-2807 603 14 new new ADJ taxlaw-2807 603 15 taxes taxis NOUN taxlaw-2807 603 16 , , PUNCT taxlaw-2807 603 17 and and CCONJ taxlaw-2807 603 18 is be AUX taxlaw-2807 603 19 not not PART taxlaw-2807 603 20 able able ADJ taxlaw-2807 603 21 to to PART taxlaw-2807 603 22 tax tax VERB taxlaw-2807 603 23 wedding wedding NOUN taxlaw-2807 603 24 rings ring NOUN taxlaw-2807 603 25 and and CCONJ taxlaw-2807 603 26 other other ADJ taxlaw-2807 603 27 personal personal ADJ taxlaw-2807 603 28 assets asset NOUN taxlaw-2807 603 29 that that PRON taxlaw-2807 603 30 both both CCONJ taxlaw-2807 603 31 joe joe PROPN taxlaw-2807 603 32 and and CCONJ taxlaw-2807 603 33 gates gate NOUN taxlaw-2807 603 34 have have VERB taxlaw-2807 603 35 , , PUNCT taxlaw-2807 603 36 it it PRON taxlaw-2807 603 37 would would AUX taxlaw-2807 603 38 have have VERB taxlaw-2807 603 39 to to PART taxlaw-2807 603 40 increase increase VERB taxlaw-2807 603 41 tax tax NOUN taxlaw-2807 603 42 rates rate NOUN taxlaw-2807 603 43 on on ADP taxlaw-2807 603 44 other other ADJ taxlaw-2807 603 45 types type NOUN taxlaw-2807 603 46 of of ADP taxlaw-2807 603 47 assets asset NOUN taxlaw-2807 603 48 — — PUNCT taxlaw-2807 603 49 namely namely ADV taxlaw-2807 603 50 investment investment NOUN taxlaw-2807 603 51 assets asset NOUN taxlaw-2807 603 52 — — PUNCT taxlaw-2807 603 53 that that SCONJ taxlaw-2807 603 54 only only ADV taxlaw-2807 603 55 gates gate VERB taxlaw-2807 603 56 has.148 has.148 VERB taxlaw-2807 603 57 the the DET taxlaw-2807 603 58 costs cost NOUN taxlaw-2807 603 59 of of ADP taxlaw-2807 603 60 detachment detachment NOUN taxlaw-2807 603 61 from from ADP taxlaw-2807 603 62 one one NUM taxlaw-2807 603 63 ’s ’s PART taxlaw-2807 603 64 personal personal ADJ taxlaw-2807 603 65 assets asset NOUN taxlaw-2807 603 66 are be AUX taxlaw-2807 603 67 not not PART taxlaw-2807 603 68 unique unique ADJ taxlaw-2807 603 69 to to ADP taxlaw-2807 603 70 wedding wedding NOUN taxlaw-2807 603 71 rings ring NOUN taxlaw-2807 603 72 . . PUNCT taxlaw-2807 604 1 for for ADP taxlaw-2807 604 2 example example NOUN taxlaw-2807 604 3 , , PUNCT taxlaw-2807 604 4 if if SCONJ taxlaw-2807 604 5 instead instead ADV taxlaw-2807 604 6 of of ADP taxlaw-2807 604 7 a a DET taxlaw-2807 604 8 wedding wedding NOUN taxlaw-2807 604 9 ring ring NOUN taxlaw-2807 604 10 one one NUM taxlaw-2807 604 11 thinks think VERB taxlaw-2807 604 12 about about ADP taxlaw-2807 604 13 identical identical ADJ taxlaw-2807 604 14 baseball baseball NOUN taxlaw-2807 604 15 card card NOUN taxlaw-2807 604 16 collections collection NOUN taxlaw-2807 604 17 , , PUNCT taxlaw-2807 604 18 gold gold NOUN taxlaw-2807 604 19 watches watch NOUN taxlaw-2807 604 20 , , PUNCT taxlaw-2807 604 21 or or CCONJ taxlaw-2807 604 22 old old ADJ taxlaw-2807 604 23 family family NOUN taxlaw-2807 604 24 farms farm NOUN taxlaw-2807 604 25 , , PUNCT taxlaw-2807 604 26 one one PRON taxlaw-2807 604 27 will will AUX taxlaw-2807 604 28 get get VERB taxlaw-2807 604 29 to to ADP taxlaw-2807 604 30 precisely precisely ADV taxlaw-2807 604 31 the the DET taxlaw-2807 604 32 same same ADJ taxlaw-2807 604 33 intuitive intuitive ADJ taxlaw-2807 604 34 results result NOUN taxlaw-2807 604 35 . . PUNCT taxlaw-2807 605 1 high high ADJ taxlaw-2807 605 2 detachment detachment NOUN taxlaw-2807 605 3 costs cost NOUN taxlaw-2807 605 4 characterize characterize VERB taxlaw-2807 605 5 basically basically ADV taxlaw-2807 605 6 all all DET taxlaw-2807 605 7 types type NOUN taxlaw-2807 605 8 of of ADP taxlaw-2807 605 9 personal personal ADJ taxlaw-2807 605 10 assets asset NOUN taxlaw-2807 605 11 including include VERB taxlaw-2807 605 12 human human ADJ taxlaw-2807 605 13 capital capital NOUN taxlaw-2807 605 14 , , PUNCT taxlaw-2807 605 15 homes home NOUN taxlaw-2807 605 16 , , PUNCT taxlaw-2807 605 17 and and CCONJ taxlaw-2807 605 18 small small ADJ taxlaw-2807 605 19 family family NOUN taxlaw-2807 605 20 businesses business NOUN taxlaw-2807 605 21 . . PUNCT taxlaw-2807 606 1 a a DET taxlaw-2807 606 2 tax tax NOUN taxlaw-2807 606 3 professor professor NOUN taxlaw-2807 606 4 values value VERB taxlaw-2807 606 5 his his PRON taxlaw-2807 606 6 job job NOUN taxlaw-2807 606 7 partly partly ADV taxlaw-2807 606 8 because because SCONJ taxlaw-2807 606 9 he he PRON taxlaw-2807 606 10 values value VERB taxlaw-2807 606 11 the the DET taxlaw-2807 606 12 freedom freedom NOUN taxlaw-2807 606 13 and and CCONJ taxlaw-2807 606 14 flexibility flexibility NOUN taxlaw-2807 606 15 that that PRON taxlaw-2807 606 16 many many ADJ taxlaw-2807 606 17 tax tax NOUN taxlaw-2807 606 18 planners planner NOUN taxlaw-2807 606 19 do do AUX taxlaw-2807 606 20 not not PART taxlaw-2807 606 21 have have VERB taxlaw-2807 606 22 . . PUNCT taxlaw-2807 607 1 many many ADJ taxlaw-2807 607 2 elderly elderly ADJ taxlaw-2807 607 3 people people NOUN taxlaw-2807 607 4 do do AUX taxlaw-2807 607 5 not not PART taxlaw-2807 607 6 wish wish VERB taxlaw-2807 607 7 to to PART taxlaw-2807 607 8 move move VERB taxlaw-2807 607 9 to to ADP taxlaw-2807 607 10 different different ADJ taxlaw-2807 607 11 apartments apartment NOUN taxlaw-2807 607 12 or or CCONJ taxlaw-2807 607 13 retirement retirement NOUN taxlaw-2807 607 14 homes home NOUN taxlaw-2807 607 15 because because SCONJ taxlaw-2807 607 16 leaving leave VERB taxlaw-2807 607 17 their their PRON taxlaw-2807 607 18 homes home NOUN taxlaw-2807 607 19 is be AUX taxlaw-2807 607 20 emotionally emotionally ADV taxlaw-2807 607 21 costly costly ADJ taxlaw-2807 607 22 to to ADP taxlaw-2807 607 23 them they PRON taxlaw-2807 607 24 . . PUNCT taxlaw-2807 608 1 from from ADP taxlaw-2807 608 2 a a DET taxlaw-2807 608 3 neo neo ADJ taxlaw-2807 608 4 - - ADJ taxlaw-2807 608 5 classical classical ADJ taxlaw-2807 608 6 economic economic ADJ taxlaw-2807 608 7 perspective perspective NOUN taxlaw-2807 608 8 , , PUNCT taxlaw-2807 608 9 these these DET taxlaw-2807 608 10 costs cost NOUN taxlaw-2807 608 11 represent represent VERB taxlaw-2807 608 12 ( ( PUNCT taxlaw-2807 608 13 some some PRON taxlaw-2807 608 14 out out ADP taxlaw-2807 608 15 of of ADP taxlaw-2807 608 16 many many ADJ taxlaw-2807 608 17 ) ) PUNCT taxlaw-2807 608 18 common common ADJ taxlaw-2807 608 19 factors factor NOUN taxlaw-2807 608 20 that that PRON taxlaw-2807 608 21 impact impact VERB taxlaw-2807 608 22 the the DET taxlaw-2807 608 23 supply supply NOUN taxlaw-2807 608 24 curve curve NOUN taxlaw-2807 608 25 . . PUNCT taxlaw-2807 609 1 in in ADP taxlaw-2807 609 2 terms term NOUN taxlaw-2807 609 3 of of ADP taxlaw-2807 609 4 progressivity progressivity NOUN taxlaw-2807 609 5 , , PUNCT taxlaw-2807 609 6 the the DET taxlaw-2807 609 7 example example NOUN taxlaw-2807 609 8 of of ADP taxlaw-2807 609 9 humble humble ADJ taxlaw-2807 609 10 golden golden ADJ taxlaw-2807 609 11 wedding wedding NOUN taxlaw-2807 609 12 rings ring NOUN taxlaw-2807 609 13 is be AUX taxlaw-2807 609 14 not not PART taxlaw-2807 609 15 very very ADV taxlaw-2807 609 16 representative representative ADJ taxlaw-2807 609 17 . . PUNCT taxlaw-2807 610 1 the the DET taxlaw-2807 610 2 case case NOUN taxlaw-2807 610 3 for for ADP taxlaw-2807 610 4 the the DET taxlaw-2807 610 5 progressivity progressivity NOUN taxlaw-2807 610 6 of of ADP taxlaw-2807 610 7 applying apply VERB taxlaw-2807 610 8 the the DET taxlaw-2807 610 9 realization realization NOUN taxlaw-2807 610 10 requirement requirement NOUN taxlaw-2807 610 11 to to ADP taxlaw-2807 610 12 personal personal ADJ taxlaw-2807 610 13 assets asset NOUN taxlaw-2807 610 14 may may AUX taxlaw-2807 610 15 be be AUX taxlaw-2807 610 16 much much ADV taxlaw-2807 610 17 more more ADV taxlaw-2807 610 18 complicated complicated ADJ taxlaw-2807 610 19 with with ADP taxlaw-2807 610 20 respect respect NOUN taxlaw-2807 610 21 to to ADP taxlaw-2807 610 22 other other ADJ taxlaw-2807 610 23 types type NOUN taxlaw-2807 610 24 of of ADP taxlaw-2807 610 25 assets asset NOUN taxlaw-2807 610 26 — — PUNCT taxlaw-2807 610 27 e.g. e.g. ADV taxlaw-2807 610 28 , , PUNCT taxlaw-2807 610 29 human human ADJ taxlaw-2807 610 30 capital capital NOUN taxlaw-2807 610 31 , , PUNCT taxlaw-2807 610 32 family family NOUN taxlaw-2807 610 33 farms farm NOUN taxlaw-2807 610 34 , , PUNCT taxlaw-2807 610 35 residential residential ADJ taxlaw-2807 610 36 real real ADJ taxlaw-2807 610 37 estate estate NOUN taxlaw-2807 610 38 . . PUNCT taxlaw-2807 611 1 generally generally ADV taxlaw-2807 611 2 , , PUNCT taxlaw-2807 611 3 wealthy wealthy ADJ taxlaw-2807 611 4 taxpayers taxpayer NOUN taxlaw-2807 611 5 tend tend VERB taxlaw-2807 611 6 to to PART taxlaw-2807 611 7 have have VERB taxlaw-2807 611 8 a a DET taxlaw-2807 611 9 higher high ADJ taxlaw-2807 611 10 number number NOUN taxlaw-2807 611 11 of of ADP taxlaw-2807 611 12 ( ( PUNCT taxlaw-2807 611 13 more more ADV taxlaw-2807 611 14 valuable valuable ADJ taxlaw-2807 611 15 ) ) PUNCT taxlaw-2807 611 16 personal personal ADJ taxlaw-2807 611 17 assets asset NOUN taxlaw-2807 611 18 than than ADP taxlaw-2807 611 19 poor poor ADJ taxlaw-2807 611 20 and and CCONJ taxlaw-2807 611 21 middle middle ADJ taxlaw-2807 611 22 - - PUNCT taxlaw-2807 611 23 class class NOUN taxlaw-2807 611 24 taxpayers taxpayer NOUN taxlaw-2807 611 25 . . PUNCT taxlaw-2807 612 1 hence hence ADV taxlaw-2807 612 2 , , PUNCT taxlaw-2807 612 3 the the DET taxlaw-2807 612 4 progressivity progressivity NOUN taxlaw-2807 612 5 tax tax NOUN taxlaw-2807 612 6 benefit benefit NOUN taxlaw-2807 612 7 is be AUX taxlaw-2807 612 8 questionable questionable ADJ taxlaw-2807 612 9 , , PUNCT taxlaw-2807 612 10 since since SCONJ taxlaw-2807 612 11 much much ADJ taxlaw-2807 612 12 of of ADP taxlaw-2807 612 13 it it PRON taxlaw-2807 612 14 would would AUX taxlaw-2807 612 15 not not PART taxlaw-2807 612 16 be be AUX taxlaw-2807 612 17 directed direct VERB taxlaw-2807 612 18 towards towards ADP taxlaw-2807 612 19 the the DET taxlaw-2807 612 20 lower low ADJ taxlaw-2807 612 21 economic economic ADJ taxlaw-2807 612 22 quintile quintile NOUN taxlaw-2807 612 23 of of ADP taxlaw-2807 612 24 society society NOUN taxlaw-2807 612 25 . . PUNCT taxlaw-2807 613 1 middle middle ADJ taxlaw-2807 613 2 class class NOUN taxlaw-2807 613 3 individuals individual NOUN taxlaw-2807 613 4 have have VERB taxlaw-2807 613 5 much much ADJ taxlaw-2807 613 6 of of ADP taxlaw-2807 613 7 their their PRON taxlaw-2807 613 8 wealth wealth NOUN taxlaw-2807 613 9 concentrated concentrate VERB taxlaw-2807 613 10 in in ADP taxlaw-2807 613 11 home home NOUN taxlaw-2807 613 12 equity equity NOUN taxlaw-2807 613 13 , , PUNCT taxlaw-2807 613 14 private private ADJ taxlaw-2807 613 15 closely closely ADV taxlaw-2807 613 16 held hold VERB taxlaw-2807 613 17 businesses business NOUN taxlaw-2807 613 18 , , PUNCT taxlaw-2807 613 19 and and CCONJ taxlaw-2807 613 20 human human ADJ taxlaw-2807 613 21 capital capital NOUN taxlaw-2807 613 22 . . PUNCT taxlaw-2807 614 1 allowing allow VERB taxlaw-2807 614 2 all all PRON taxlaw-2807 614 3 or or CCONJ taxlaw-2807 614 4 some some PRON taxlaw-2807 614 5 of of ADP taxlaw-2807 614 6 these these DET taxlaw-2807 614 7 assets asset NOUN taxlaw-2807 614 8 to to PART taxlaw-2807 614 9 be be AUX taxlaw-2807 614 10 taxed tax VERB taxlaw-2807 614 11 only only ADV taxlaw-2807 614 12 148 148 NUM taxlaw-2807 614 13 a a DET taxlaw-2807 614 14 more more ADV taxlaw-2807 614 15 formal formal ADJ taxlaw-2807 614 16 explanation explanation NOUN taxlaw-2807 614 17 would would AUX taxlaw-2807 614 18 stress stress VERB taxlaw-2807 614 19 the the DET taxlaw-2807 614 20 following following NOUN taxlaw-2807 614 21 . . PUNCT taxlaw-2807 615 1 income income NOUN taxlaw-2807 615 2 ( ( PUNCT taxlaw-2807 615 3 i i NOUN taxlaw-2807 615 4 ) ) PUNCT taxlaw-2807 615 5 could could AUX taxlaw-2807 615 6 be be AUX taxlaw-2807 615 7 defined define VERB taxlaw-2807 615 8 as as ADP taxlaw-2807 615 9 the the DET taxlaw-2807 615 10 net net ADJ taxlaw-2807 615 11 consumption consumption NOUN taxlaw-2807 615 12 ( ( PUNCT taxlaw-2807 615 13 c c NOUN taxlaw-2807 615 14 ) ) PUNCT taxlaw-2807 615 15 and and CCONJ taxlaw-2807 615 16 savings saving NOUN taxlaw-2807 615 17 / / SYM taxlaw-2807 615 18 investment investment NOUN taxlaw-2807 615 19 ( ( PUNCT taxlaw-2807 615 20 s s X taxlaw-2807 615 21 ) ) PUNCT taxlaw-2807 615 22 in in ADP taxlaw-2807 615 23 a a DET taxlaw-2807 615 24 given give VERB taxlaw-2807 615 25 period period NOUN taxlaw-2807 615 26 of of ADP taxlaw-2807 615 27 time time NOUN taxlaw-2807 615 28 . . PUNCT taxlaw-2807 616 1 therefore therefore ADV taxlaw-2807 616 2 , , PUNCT taxlaw-2807 616 3 if if SCONJ taxlaw-2807 616 4 i i PRON taxlaw-2807 616 5 = = AUX taxlaw-2807 616 6 δc+δs δc+δ NOUN taxlaw-2807 616 7 , , PUNCT taxlaw-2807 616 8 an an DET taxlaw-2807 616 9 income income NOUN taxlaw-2807 616 10 tax tax NOUN taxlaw-2807 616 11 regime regime NOUN taxlaw-2807 616 12 that that PRON taxlaw-2807 616 13 provided provide VERB taxlaw-2807 616 14 a a DET taxlaw-2807 616 15 tax tax NOUN taxlaw-2807 616 16 benefit benefit NOUN taxlaw-2807 616 17 for for ADP taxlaw-2807 616 18 private private ADJ taxlaw-2807 616 19 consumption consumption NOUN taxlaw-2807 616 20 would would AUX taxlaw-2807 616 21 shift shift VERB taxlaw-2807 616 22 the the DET taxlaw-2807 616 23 burden burden NOUN taxlaw-2807 616 24 to to ADP taxlaw-2807 616 25 savings saving NOUN taxlaw-2807 616 26 and and CCONJ taxlaw-2807 616 27 investment investment NOUN taxlaw-2807 616 28 , , PUNCT taxlaw-2807 616 29 and and CCONJ taxlaw-2807 616 30 an an DET taxlaw-2807 616 31 income income NOUN taxlaw-2807 616 32 tax tax NOUN taxlaw-2807 616 33 that that PRON taxlaw-2807 616 34 provided provide VERB taxlaw-2807 616 35 a a DET taxlaw-2807 616 36 tax tax NOUN taxlaw-2807 616 37 benefit benefit NOUN taxlaw-2807 616 38 to to ADP taxlaw-2807 616 39 savings saving NOUN taxlaw-2807 616 40 and and CCONJ taxlaw-2807 616 41 investment investment NOUN taxlaw-2807 616 42 would would AUX taxlaw-2807 616 43 shift shift VERB taxlaw-2807 616 44 the the DET taxlaw-2807 616 45 tax tax NOUN taxlaw-2807 616 46 burden burden NOUN taxlaw-2807 616 47 to to ADP taxlaw-2807 616 48 consumed consume VERB taxlaw-2807 616 49 income income NOUN taxlaw-2807 616 50 . . PUNCT taxlaw-2807 617 1 2011 2011 NUM taxlaw-2807 617 2 ] ] PUNCT taxlaw-2807 617 3 realization realization NOUN taxlaw-2807 617 4 and and CCONJ taxlaw-2807 617 5 progressivity progressivity NOUN taxlaw-2807 617 6 71 71 NUM taxlaw-2807 617 7 upon upon SCONJ taxlaw-2807 617 8 realization realization NOUN taxlaw-2807 617 9 would would AUX taxlaw-2807 617 10 provide provide VERB taxlaw-2807 617 11 a a DET taxlaw-2807 617 12 tax tax NOUN taxlaw-2807 617 13 benefit benefit NOUN taxlaw-2807 617 14 that that PRON taxlaw-2807 617 15 is be AUX taxlaw-2807 617 16 less less ADV taxlaw-2807 617 17 progressive progressive ADJ taxlaw-2807 617 18 than than ADP taxlaw-2807 617 19 what what PRON taxlaw-2807 617 20 gates gate VERB taxlaw-2807 617 21 ’s ’s PART taxlaw-2807 617 22 and and CCONJ taxlaw-2807 617 23 joe joe PROPN taxlaw-2807 617 24 ’s ’s PART taxlaw-2807 617 25 wedding wedding NOUN taxlaw-2807 617 26 bands band NOUN taxlaw-2807 617 27 may may AUX taxlaw-2807 617 28 suggest suggest VERB taxlaw-2807 617 29 . . PUNCT taxlaw-2807 618 1 the the DET taxlaw-2807 618 2 above above ADJ taxlaw-2807 618 3 observation observation NOUN taxlaw-2807 618 4 is be AUX taxlaw-2807 618 5 evidently evidently ADV taxlaw-2807 618 6 true true ADJ taxlaw-2807 618 7 , , PUNCT taxlaw-2807 618 8 but but CCONJ taxlaw-2807 618 9 it it PRON taxlaw-2807 618 10 fails fail VERB taxlaw-2807 618 11 to to PART taxlaw-2807 618 12 capture capture VERB taxlaw-2807 618 13 the the DET taxlaw-2807 618 14 core core NOUN taxlaw-2807 618 15 of of ADP taxlaw-2807 618 16 the the DET taxlaw-2807 618 17 argument argument NOUN taxlaw-2807 618 18 presented present VERB taxlaw-2807 618 19 . . PUNCT taxlaw-2807 619 1 first first ADV taxlaw-2807 619 2 , , PUNCT taxlaw-2807 619 3 when when SCONJ taxlaw-2807 619 4 discussing discuss VERB taxlaw-2807 619 5 income income NOUN taxlaw-2807 619 6 tax tax NOUN taxlaw-2807 619 7 progressivity progressivity NOUN taxlaw-2807 619 8 , , PUNCT taxlaw-2807 619 9 it it PRON taxlaw-2807 619 10 is be AUX taxlaw-2807 619 11 important important ADJ taxlaw-2807 619 12 to to PART taxlaw-2807 619 13 bear bear VERB taxlaw-2807 619 14 in in ADP taxlaw-2807 619 15 mind mind NOUN taxlaw-2807 619 16 that that SCONJ taxlaw-2807 619 17 low low ADJ taxlaw-2807 619 18 - - PUNCT taxlaw-2807 619 19 income income NOUN taxlaw-2807 619 20 taxpayers taxpayer NOUN taxlaw-2807 619 21 play play VERB taxlaw-2807 619 22 a a DET taxlaw-2807 619 23 relatively relatively ADV taxlaw-2807 619 24 minor minor ADJ taxlaw-2807 619 25 part part NOUN taxlaw-2807 619 26 in in ADP taxlaw-2807 619 27 this this DET taxlaw-2807 619 28 debate debate NOUN taxlaw-2807 619 29 . . PUNCT taxlaw-2807 620 1 personal personal ADJ taxlaw-2807 620 2 exemptions exemption NOUN taxlaw-2807 620 3 , , PUNCT taxlaw-2807 620 4 tax tax NOUN taxlaw-2807 620 5 credits credit NOUN taxlaw-2807 620 6 , , PUNCT taxlaw-2807 620 7 and and CCONJ taxlaw-2807 620 8 low low ADJ taxlaw-2807 620 9 marginal marginal ADJ taxlaw-2807 620 10 tax tax NOUN taxlaw-2807 620 11 rates rate NOUN taxlaw-2807 620 12 mean mean VERB taxlaw-2807 620 13 that that SCONJ taxlaw-2807 620 14 low low ADJ taxlaw-2807 620 15 - - PUNCT taxlaw-2807 620 16 income income NOUN taxlaw-2807 620 17 taxpayers taxpayer NOUN taxlaw-2807 620 18 pay pay VERB taxlaw-2807 620 19 little little ADJ taxlaw-2807 620 20 or or CCONJ taxlaw-2807 620 21 no no PRON taxlaw-2807 620 22 taxes.149 taxes.149 NOUN taxlaw-2807 620 23 even even ADV taxlaw-2807 620 24 though though SCONJ taxlaw-2807 620 25 assessing assess VERB taxlaw-2807 620 26 what what PRON taxlaw-2807 620 27 people people NOUN taxlaw-2807 620 28 have have VERB taxlaw-2807 620 29 may may AUX taxlaw-2807 620 30 also also ADV taxlaw-2807 620 31 be be AUX taxlaw-2807 620 32 important important ADJ taxlaw-2807 620 33 for for ADP taxlaw-2807 620 34 transfer transfer NOUN taxlaw-2807 620 35 purposes,150 purposes,150 NOUN taxlaw-2807 620 36 when when SCONJ taxlaw-2807 620 37 it it PRON taxlaw-2807 620 38 comes come VERB taxlaw-2807 620 39 to to ADP taxlaw-2807 620 40 taxes taxis NOUN taxlaw-2807 620 41 , , PUNCT taxlaw-2807 620 42 the the DET taxlaw-2807 620 43 question question NOUN taxlaw-2807 620 44 of of ADP taxlaw-2807 620 45 allocating allocate VERB taxlaw-2807 620 46 the the DET taxlaw-2807 620 47 tax tax NOUN taxlaw-2807 620 48 burden burden NOUN taxlaw-2807 620 49 is be AUX taxlaw-2807 620 50 primarily primarily ADV taxlaw-2807 620 51 a a DET taxlaw-2807 620 52 tradeoff tradeoff NOUN taxlaw-2807 620 53 between between ADP taxlaw-2807 620 54 the the DET taxlaw-2807 620 55 middle middle ADJ taxlaw-2807 620 56 class class NOUN taxlaw-2807 620 57 ( ( PUNCT taxlaw-2807 620 58 whose whose DET taxlaw-2807 620 59 wealth wealth NOUN taxlaw-2807 620 60 is be AUX taxlaw-2807 620 61 primarily primarily ADV taxlaw-2807 620 62 in in ADP taxlaw-2807 620 63 the the DET taxlaw-2807 620 64 form form NOUN taxlaw-2807 620 65 of of ADP taxlaw-2807 620 66 human human ADJ taxlaw-2807 620 67 capital capital NOUN taxlaw-2807 620 68 and and CCONJ taxlaw-2807 620 69 other other ADJ taxlaw-2807 620 70 personal personal ADJ taxlaw-2807 620 71 assets asset NOUN taxlaw-2807 620 72 ) ) PUNCT taxlaw-2807 620 73 and and CCONJ taxlaw-2807 620 74 the the DET taxlaw-2807 620 75 upper upper ADJ taxlaw-2807 620 76 class class NOUN taxlaw-2807 620 77 ( ( PUNCT taxlaw-2807 620 78 who who PRON taxlaw-2807 620 79 also also ADV taxlaw-2807 620 80 have have VERB taxlaw-2807 620 81 significant significant ADJ taxlaw-2807 620 82 amount amount NOUN taxlaw-2807 620 83 of of ADP taxlaw-2807 620 84 investment investment NOUN taxlaw-2807 620 85 assets asset NOUN taxlaw-2807 620 86 ) ) PUNCT taxlaw-2807 620 87 . . PUNCT taxlaw-2807 621 1 second second ADV taxlaw-2807 621 2 , , PUNCT taxlaw-2807 621 3 policymakers policymaker NOUN taxlaw-2807 621 4 should should AUX taxlaw-2807 621 5 question question VERB taxlaw-2807 621 6 whether whether SCONJ taxlaw-2807 621 7 , , PUNCT taxlaw-2807 621 8 given give VERB taxlaw-2807 621 9 the the DET taxlaw-2807 621 10 difficulty difficulty NOUN taxlaw-2807 621 11 of of ADP taxlaw-2807 621 12 taxing tax VERB taxlaw-2807 621 13 personal personal ADJ taxlaw-2807 621 14 assets asset NOUN taxlaw-2807 621 15 on on ADP taxlaw-2807 621 16 a a DET taxlaw-2807 621 17 mark mark NOUN taxlaw-2807 621 18 - - PUNCT taxlaw-2807 621 19 to to ADP taxlaw-2807 621 20 - - PUNCT taxlaw-2807 621 21 market market NOUN taxlaw-2807 621 22 basis basis NOUN taxlaw-2807 621 23 , , PUNCT taxlaw-2807 621 24 the the DET taxlaw-2807 621 25 advantages advantage NOUN taxlaw-2807 621 26 of of ADP taxlaw-2807 621 27 a a DET taxlaw-2807 621 28 mark mark NOUN taxlaw-2807 621 29 - - PUNCT taxlaw-2807 621 30 to to ADP taxlaw-2807 621 31 - - PUNCT taxlaw-2807 621 32 market market NOUN taxlaw-2807 621 33 regime regime NOUN taxlaw-2807 621 34 should should AUX taxlaw-2807 621 35 be be AUX taxlaw-2807 621 36 abandoned abandon VERB taxlaw-2807 621 37 altogether altogether ADV taxlaw-2807 621 38 . . PUNCT taxlaw-2807 622 1 more more ADV taxlaw-2807 622 2 specifically specifically ADV taxlaw-2807 622 3 , , PUNCT taxlaw-2807 622 4 they they PRON taxlaw-2807 622 5 should should AUX taxlaw-2807 622 6 inquire inquire VERB taxlaw-2807 622 7 whether whether SCONJ taxlaw-2807 622 8 there there PRON taxlaw-2807 622 9 are be VERB taxlaw-2807 622 10 reasonable reasonable ADJ taxlaw-2807 622 11 ways way NOUN taxlaw-2807 622 12 to to PART taxlaw-2807 622 13 achieve achieve VERB taxlaw-2807 622 14 the the DET taxlaw-2807 622 15 distributional distributional ADJ taxlaw-2807 622 16 advantages advantage NOUN taxlaw-2807 622 17 of of ADP taxlaw-2807 622 18 the the DET taxlaw-2807 622 19 mark mark NOUN taxlaw-2807 622 20 - - PUNCT taxlaw-2807 622 21 to to ADP taxlaw-2807 622 22 - - PUNCT taxlaw-2807 622 23 market market NOUN taxlaw-2807 622 24 regime regime NOUN taxlaw-2807 622 25 without without ADP taxlaw-2807 622 26 subjecting subject VERB taxlaw-2807 622 27 personal personal ADJ taxlaw-2807 622 28 assets asset NOUN taxlaw-2807 622 29 to to ADP taxlaw-2807 622 30 it it PRON taxlaw-2807 622 31 . . PUNCT taxlaw-2807 623 1 if if SCONJ taxlaw-2807 623 2 savings saving NOUN taxlaw-2807 623 3 and and CCONJ taxlaw-2807 623 4 investment investment NOUN taxlaw-2807 623 5 assets asset NOUN taxlaw-2807 623 6 were be AUX taxlaw-2807 623 7 taxed tax VERB taxlaw-2807 623 8 on on ADP taxlaw-2807 623 9 a a DET taxlaw-2807 623 10 mark mark NOUN taxlaw-2807 623 11 - - PUNCT taxlaw-2807 623 12 to to ADP taxlaw-2807 623 13 - - PUNCT taxlaw-2807 623 14 market market NOUN taxlaw-2807 623 15 basis basis NOUN taxlaw-2807 623 16 , , PUNCT taxlaw-2807 623 17 the the DET taxlaw-2807 623 18 effective effective ADJ taxlaw-2807 623 19 tax tax NOUN taxlaw-2807 623 20 rate rate NOUN taxlaw-2807 623 21 on on ADP taxlaw-2807 623 22 them they PRON taxlaw-2807 623 23 would would AUX taxlaw-2807 623 24 rise rise VERB taxlaw-2807 623 25 . . PUNCT taxlaw-2807 624 1 therefore therefore ADV taxlaw-2807 624 2 , , PUNCT taxlaw-2807 624 3 the the DET taxlaw-2807 624 4 option option NOUN taxlaw-2807 624 5 of of ADP taxlaw-2807 624 6 subjecting subject VERB taxlaw-2807 624 7 these these DET taxlaw-2807 624 8 assets asset NOUN taxlaw-2807 624 9 to to PART taxlaw-2807 624 10 mark mark VERB taxlaw-2807 624 11 - - PUNCT taxlaw-2807 624 12 to to ADP taxlaw-2807 624 13 - - PUNCT taxlaw-2807 624 14 market market NOUN taxlaw-2807 624 15 taxation taxation NOUN taxlaw-2807 624 16 promotes promote VERB taxlaw-2807 624 17 a a DET taxlaw-2807 624 18 relatively relatively ADV taxlaw-2807 624 19 progressive progressive ADJ taxlaw-2807 624 20 alternative alternative NOUN taxlaw-2807 624 21 to to ADP taxlaw-2807 624 22 the the DET taxlaw-2807 624 23 current current ADJ taxlaw-2807 624 24 regime regime NOUN taxlaw-2807 624 25 . . PUNCT taxlaw-2807 625 1 indeed indeed ADV taxlaw-2807 625 2 , , PUNCT taxlaw-2807 625 3 under under ADP taxlaw-2807 625 4 our our PRON taxlaw-2807 625 5 proposal proposal NOUN taxlaw-2807 625 6 the the DET taxlaw-2807 625 7 realization realization NOUN taxlaw-2807 625 8 treatment treatment NOUN taxlaw-2807 625 9 of of ADP taxlaw-2807 625 10 personal personal ADJ taxlaw-2807 625 11 assets asset NOUN taxlaw-2807 625 12 would would AUX taxlaw-2807 625 13 continue continue VERB taxlaw-2807 625 14 to to PART taxlaw-2807 625 15 benefit benefit VERB taxlaw-2807 625 16 the the DET taxlaw-2807 625 17 middle middle ADJ taxlaw-2807 625 18 class class NOUN taxlaw-2807 625 19 , , PUNCT taxlaw-2807 625 20 but but CCONJ taxlaw-2807 625 21 by by ADP taxlaw-2807 625 22 the the DET taxlaw-2807 625 23 same same ADJ taxlaw-2807 625 24 token token NOUN taxlaw-2807 625 25 , , PUNCT taxlaw-2807 625 26 mark mark NOUN taxlaw-2807 625 27 - - PUNCT taxlaw-2807 625 28 to to ADP taxlaw-2807 625 29 - - PUNCT taxlaw-2807 625 30 market market NOUN taxlaw-2807 625 31 taxation taxation NOUN taxlaw-2807 625 32 of of ADP taxlaw-2807 625 33 investment investment NOUN taxlaw-2807 625 34 assets asset NOUN taxlaw-2807 625 35 would would AUX taxlaw-2807 625 36 increase increase VERB taxlaw-2807 625 37 the the DET taxlaw-2807 625 38 tax tax NOUN taxlaw-2807 625 39 burden burden NOUN taxlaw-2807 625 40 on on ADP taxlaw-2807 625 41 wealthy wealthy ADJ taxlaw-2807 625 42 individuals.151 individuals.151 PROPN taxlaw-2807 625 43 such such DET taxlaw-2807 625 44 a a DET taxlaw-2807 625 45 markto markto NOUN taxlaw-2807 625 46 - - PUNCT taxlaw-2807 625 47 market market NOUN taxlaw-2807 625 48 regime regime NOUN taxlaw-2807 625 49 would would AUX taxlaw-2807 625 50 eliminate eliminate VERB taxlaw-2807 625 51 the the DET taxlaw-2807 625 52 benefits benefit NOUN taxlaw-2807 625 53 of of ADP taxlaw-2807 625 54 tax tax NOUN taxlaw-2807 625 55 planning planning NOUN taxlaw-2807 625 56 , , PUNCT taxlaw-2807 625 57 strategic strategic ADJ taxlaw-2807 625 58 trading trading NOUN taxlaw-2807 625 59 , , PUNCT taxlaw-2807 625 60 and and CCONJ taxlaw-2807 625 61 deferral deferral ADJ taxlaw-2807 625 62 opportunities opportunity NOUN taxlaw-2807 625 63 with with ADP taxlaw-2807 625 64 respect respect NOUN taxlaw-2807 625 65 to to ADP taxlaw-2807 625 66 capital capital NOUN taxlaw-2807 625 67 assets asset NOUN taxlaw-2807 625 68 . . PUNCT taxlaw-2807 626 1 it it PRON taxlaw-2807 626 2 would would AUX taxlaw-2807 626 3 therefore therefore ADV taxlaw-2807 626 4 result result VERB taxlaw-2807 626 5 in in ADP taxlaw-2807 626 6 a a DET taxlaw-2807 626 7 higher high ADJ taxlaw-2807 626 8 effective effective ADJ taxlaw-2807 626 9 tax tax NOUN taxlaw-2807 626 10 rate rate NOUN taxlaw-2807 626 11 on on ADP taxlaw-2807 626 12 investment investment NOUN taxlaw-2807 626 13 assets asset NOUN taxlaw-2807 626 14 ( ( PUNCT taxlaw-2807 626 15 if if SCONJ taxlaw-2807 626 16 tax tax NOUN taxlaw-2807 626 17 rates rate NOUN taxlaw-2807 626 18 on on ADP taxlaw-2807 626 19 them they PRON taxlaw-2807 626 20 remain remain VERB taxlaw-2807 626 21 the the DET taxlaw-2807 626 22 same same ADJ taxlaw-2807 626 23 as as ADP taxlaw-2807 626 24 on on ADP taxlaw-2807 626 25 personal personal ADJ taxlaw-2807 626 26 assets asset NOUN taxlaw-2807 626 27 ) ) PUNCT taxlaw-2807 626 28 as as ADV taxlaw-2807 626 29 well well ADV taxlaw-2807 626 30 as as ADP taxlaw-2807 626 31 more more ADV taxlaw-2807 626 32 transparent transparent ADJ taxlaw-2807 626 33 , , PUNCT taxlaw-2807 626 34 equitable equitable ADJ taxlaw-2807 626 35 , , PUNCT taxlaw-2807 626 36 and and CCONJ taxlaw-2807 626 37 efficient efficient ADJ taxlaw-2807 626 38 taxation taxation NOUN taxlaw-2807 626 39 of of ADP taxlaw-2807 626 40 such such ADJ taxlaw-2807 626 41 assets asset NOUN taxlaw-2807 626 42 . . PUNCT taxlaw-2807 627 1 implementing implement VERB taxlaw-2807 627 2 this this DET taxlaw-2807 627 3 type type NOUN taxlaw-2807 627 4 of of ADP taxlaw-2807 627 5 selective selective ADJ taxlaw-2807 627 6 realization realization NOUN taxlaw-2807 627 7 requirement requirement NOUN taxlaw-2807 627 8 for for ADP taxlaw-2807 627 9 personal personal ADJ taxlaw-2807 627 10 assets asset NOUN taxlaw-2807 627 11 would would AUX taxlaw-2807 627 12 position position VERB taxlaw-2807 627 13 the the DET taxlaw-2807 627 14 income income NOUN taxlaw-2807 627 15 tax tax NOUN taxlaw-2807 627 16 more more ADV taxlaw-2807 627 17 as as ADP taxlaw-2807 627 18 an an DET taxlaw-2807 627 19 elite elite ADJ taxlaw-2807 627 20 tax tax NOUN taxlaw-2807 627 21 — — PUNCT taxlaw-2807 627 22 a a DET taxlaw-2807 627 23 notion notion NOUN taxlaw-2807 627 24 that that PRON taxlaw-2807 627 25 is be AUX taxlaw-2807 627 26 not not PART taxlaw-2807 627 27 in in ADP taxlaw-2807 627 28 any any DET taxlaw-2807 627 29 way way NOUN taxlaw-2807 627 30 new.152 new.152 NOUN taxlaw-2807 627 31 by by ADP taxlaw-2807 627 32 exploring explore VERB taxlaw-2807 627 33 the the DET taxlaw-2807 627 34 unique unique ADJ taxlaw-2807 627 35 case case NOUN taxlaw-2807 627 36 of of ADP taxlaw-2807 627 37 certain certain ADJ taxlaw-2807 627 38 personal personal ADJ taxlaw-2807 627 39 assets asset NOUN taxlaw-2807 627 40 , , PUNCT taxlaw-2807 627 41 we we PRON taxlaw-2807 627 42 argue argue VERB taxlaw-2807 627 43 that that SCONJ taxlaw-2807 627 44 not not PART taxlaw-2807 627 45 all all DET taxlaw-2807 627 46 errors error NOUN taxlaw-2807 627 47 are be AUX taxlaw-2807 627 48 distributionally distributionally ADV taxlaw-2807 627 49 equal equal ADJ taxlaw-2807 627 50 and and CCONJ taxlaw-2807 627 51 that that SCONJ taxlaw-2807 627 52 policymakers policymaker NOUN taxlaw-2807 627 53 should should AUX taxlaw-2807 627 54 take take VERB taxlaw-2807 627 55 errors error NOUN taxlaw-2807 627 56 other other ADJ taxlaw-2807 627 57 than than ADP taxlaw-2807 627 58 incorrect incorrect ADJ taxlaw-2807 627 59 market market NOUN taxlaw-2807 627 60 valuations valuation NOUN taxlaw-2807 627 61 into into ADP taxlaw-2807 627 62 account account NOUN taxlaw-2807 627 63 . . PUNCT taxlaw-2807 628 1 tax tax NOUN taxlaw-2807 628 2 systems system NOUN taxlaw-2807 628 3 rely rely VERB taxlaw-2807 628 4 on on ADP taxlaw-2807 628 5 market market NOUN taxlaw-2807 628 6 valuation valuation NOUN taxlaw-2807 628 7 because because SCONJ taxlaw-2807 628 8 it it PRON taxlaw-2807 628 9 is be AUX taxlaw-2807 628 10 a a DET taxlaw-2807 628 11 proxy proxy NOUN taxlaw-2807 628 12 for for ADP taxlaw-2807 628 13 economic economic ADJ taxlaw-2807 628 14 well well NOUN taxlaw-2807 628 15 - - PUNCT taxlaw-2807 628 16 being being NOUN taxlaw-2807 628 17 . . PUNCT taxlaw-2807 629 1 however however ADV taxlaw-2807 629 2 , , PUNCT taxlaw-2807 629 3 in in ADP taxlaw-2807 629 4 certain certain ADJ taxlaw-2807 629 5 cases case NOUN taxlaw-2807 629 6 the the DET taxlaw-2807 629 7 market market NOUN taxlaw-2807 629 8 price price NOUN taxlaw-2807 629 9 offers offer VERB taxlaw-2807 629 10 only only ADV taxlaw-2807 629 11 a a DET taxlaw-2807 629 12 weak weak ADJ taxlaw-2807 629 13 proxy proxy NOUN taxlaw-2807 629 14 , , PUNCT taxlaw-2807 629 15 so so ADV taxlaw-2807 629 16 relying rely VERB taxlaw-2807 629 17 on on ADP taxlaw-2807 629 18 it it PRON taxlaw-2807 629 19 is be AUX taxlaw-2807 629 20 an an DET taxlaw-2807 629 21 error error NOUN taxlaw-2807 629 22 in in ADP taxlaw-2807 629 23 itself itself PRON taxlaw-2807 629 24 . . PUNCT taxlaw-2807 630 1 by by ADP taxlaw-2807 630 2 highlighting highlight VERB taxlaw-2807 630 3 the the DET taxlaw-2807 630 4 different different ADJ taxlaw-2807 630 5 149 149 NUM taxlaw-2807 630 6 see see VERB taxlaw-2807 630 7 michael michael PROPN taxlaw-2807 630 8 j. j. PROPN taxlaw-2807 630 9 graetz graetz PROPN taxlaw-2807 630 10 , , PUNCT taxlaw-2807 630 11 100 100 NUM taxlaw-2807 630 12 million million NUM taxlaw-2807 630 13 unnecessary unnecessary ADJ taxlaw-2807 630 14 returns return NOUN taxlaw-2807 630 15 : : PUNCT taxlaw-2807 630 16 a a DET taxlaw-2807 630 17 fresh fresh ADJ taxlaw-2807 630 18 start start NOUN taxlaw-2807 630 19 for for ADP taxlaw-2807 630 20 the the DET taxlaw-2807 630 21 u.s u.s PROPN taxlaw-2807 630 22 . . PROPN taxlaw-2807 630 23 tax tax NOUN taxlaw-2807 630 24 system system NOUN taxlaw-2807 630 25 , , PUNCT taxlaw-2807 630 26 112 112 NUM taxlaw-2807 630 27 yale yale PROPN taxlaw-2807 630 28 l.j l.j PROPN taxlaw-2807 630 29 . . PROPN taxlaw-2807 630 30 261 261 NUM taxlaw-2807 630 31 , , PUNCT taxlaw-2807 630 32 270 270 NUM taxlaw-2807 630 33 fig.5 fig.5 NOUN taxlaw-2807 630 34 ( ( PUNCT taxlaw-2807 630 35 2002 2002 NUM taxlaw-2807 630 36 ) ) PUNCT taxlaw-2807 630 37 . . PUNCT taxlaw-2807 631 1 150 150 NUM taxlaw-2807 631 2 the the DET taxlaw-2807 631 3 relationship relationship NOUN taxlaw-2807 631 4 between between ADP taxlaw-2807 631 5 measurement measurement NOUN taxlaw-2807 631 6 of of ADP taxlaw-2807 631 7 economic economic ADJ taxlaw-2807 631 8 ability ability NOUN taxlaw-2807 631 9 for for ADP taxlaw-2807 631 10 transfer transfer NOUN taxlaw-2807 631 11 and and CCONJ taxlaw-2807 631 12 tax tax NOUN taxlaw-2807 631 13 purposes purpose NOUN taxlaw-2807 631 14 is be AUX taxlaw-2807 631 15 not not PART taxlaw-2807 631 16 always always ADV taxlaw-2807 631 17 the the DET taxlaw-2807 631 18 same same ADJ taxlaw-2807 631 19 . . PUNCT taxlaw-2807 632 1 see see VERB taxlaw-2807 632 2 anne anne PROPN taxlaw-2807 632 3 l. l. PROPN taxlaw-2807 632 4 alstott alstott PROPN taxlaw-2807 632 5 , , PUNCT taxlaw-2807 632 6 the the DET taxlaw-2807 632 7 earned earn VERB taxlaw-2807 632 8 income income NOUN taxlaw-2807 632 9 tax tax NOUN taxlaw-2807 632 10 credit credit NOUN taxlaw-2807 632 11 and and CCONJ taxlaw-2807 632 12 the the DET taxlaw-2807 632 13 limitations limitation NOUN taxlaw-2807 632 14 of of ADP taxlaw-2807 632 15 tax tax NOUN taxlaw-2807 632 16 - - PUNCT taxlaw-2807 632 17 based base VERB taxlaw-2807 632 18 welfare welfare NOUN taxlaw-2807 632 19 reform reform NOUN taxlaw-2807 632 20 , , PUNCT taxlaw-2807 632 21 108 108 NUM taxlaw-2807 632 22 harv harv NOUN taxlaw-2807 632 23 . . PUNCT taxlaw-2807 633 1 l. l. PROPN taxlaw-2807 633 2 rev rev PROPN taxlaw-2807 633 3 . . PROPN taxlaw-2807 633 4 533 533 NUM taxlaw-2807 633 5 , , PUNCT taxlaw-2807 633 6 535 535 NUM taxlaw-2807 633 7 ( ( PUNCT taxlaw-2807 633 8 1995 1995 NUM taxlaw-2807 633 9 ) ) PUNCT taxlaw-2807 633 10 ( ( PUNCT taxlaw-2807 633 11 suggesting suggest VERB taxlaw-2807 633 12 there there PRON taxlaw-2807 633 13 may may AUX taxlaw-2807 633 14 be be AUX taxlaw-2807 633 15 serious serious ADJ taxlaw-2807 633 16 disadvantages disadvantage NOUN taxlaw-2807 633 17 to to ADP taxlaw-2807 633 18 using use VERB taxlaw-2807 633 19 the the DET taxlaw-2807 633 20 same same ADJ taxlaw-2807 633 21 measurement measurement NOUN taxlaw-2807 633 22 of of ADP taxlaw-2807 633 23 economic economic ADJ taxlaw-2807 633 24 well well NOUN taxlaw-2807 633 25 - - PUNCT taxlaw-2807 633 26 being being NOUN taxlaw-2807 633 27 for for ADP taxlaw-2807 633 28 tax tax NOUN taxlaw-2807 633 29 and and CCONJ taxlaw-2807 633 30 transfer transfer NOUN taxlaw-2807 633 31 purposes purpose NOUN taxlaw-2807 633 32 ) ) PUNCT taxlaw-2807 633 33 ; ; PUNCT taxlaw-2807 633 34 benshalom benshalom NOUN taxlaw-2807 633 35 & & CCONJ taxlaw-2807 633 36 stead stead PROPN taxlaw-2807 633 37 , , PUNCT taxlaw-2807 633 38 supra supra PROPN taxlaw-2807 633 39 note note NOUN taxlaw-2807 633 40 15 15 NUM taxlaw-2807 633 41 , , PUNCT taxlaw-2807 633 42 at at ADP taxlaw-2807 633 43 1530–31 1530–31 NUM taxlaw-2807 633 44 ; ; PUNCT taxlaw-2807 633 45 lawrence lawrence PROPN taxlaw-2807 633 46 zelenak zelenak PROPN taxlaw-2807 633 47 , , PUNCT taxlaw-2807 633 48 taxing tax VERB taxlaw-2807 633 49 endowment endowment NOUN taxlaw-2807 633 50 , , PUNCT taxlaw-2807 633 51 55 55 NUM taxlaw-2807 633 52 duke duke PROPN taxlaw-2807 633 53 l.j l.j PROPN taxlaw-2807 633 54 . . PROPN taxlaw-2807 633 55 1145 1145 NUM taxlaw-2807 633 56 , , PUNCT taxlaw-2807 633 57 1179–80 1179–80 NUM taxlaw-2807 633 58 ( ( PUNCT taxlaw-2807 633 59 2006 2006 NUM taxlaw-2807 633 60 ) ) PUNCT taxlaw-2807 633 61 . . PUNCT taxlaw-2807 634 1 151 151 NUM taxlaw-2807 634 2 as as SCONJ taxlaw-2807 634 3 mentioned mention VERB taxlaw-2807 634 4 , , PUNCT taxlaw-2807 634 5 savings saving NOUN taxlaw-2807 634 6 and and CCONJ taxlaw-2807 634 7 capital capital NOUN taxlaw-2807 634 8 accumulation accumulation NOUN taxlaw-2807 634 9 are be AUX taxlaw-2807 634 10 characteristics characteristic NOUN taxlaw-2807 634 11 of of ADP taxlaw-2807 634 12 the the DET taxlaw-2807 634 13 upper upper ADJ taxlaw-2807 634 14 quintile quintile NOUN taxlaw-2807 634 15 of of ADP taxlaw-2807 634 16 society society NOUN taxlaw-2807 634 17 . . PUNCT taxlaw-2807 635 1 see see VERB taxlaw-2807 635 2 supra supra PROPN taxlaw-2807 635 3 note note PROPN taxlaw-2807 635 4 46 46 NUM taxlaw-2807 635 5 and and CCONJ taxlaw-2807 635 6 accompanying accompany VERB taxlaw-2807 635 7 text text NOUN taxlaw-2807 635 8 . . PUNCT taxlaw-2807 636 1 152 152 NUM taxlaw-2807 636 2 prior prior ADV taxlaw-2807 636 3 to to ADP taxlaw-2807 636 4 world world PROPN taxlaw-2807 636 5 war war PROPN taxlaw-2807 636 6 ii ii PROPN taxlaw-2807 636 7 , , PUNCT taxlaw-2807 636 8 the the DET taxlaw-2807 636 9 vast vast ADJ taxlaw-2807 636 10 majority majority NOUN taxlaw-2807 636 11 of of ADP taxlaw-2807 636 12 the the DET taxlaw-2807 636 13 middle middle ADJ taxlaw-2807 636 14 class class NOUN taxlaw-2807 636 15 was be AUX taxlaw-2807 636 16 exempt exempt ADJ taxlaw-2807 636 17 from from ADP taxlaw-2807 636 18 the the DET taxlaw-2807 636 19 income income NOUN taxlaw-2807 636 20 tax tax NOUN taxlaw-2807 636 21 altogether altogether ADV taxlaw-2807 636 22 . . PUNCT taxlaw-2807 637 1 see see VERB taxlaw-2807 637 2 generally generally ADV taxlaw-2807 637 3 carolyn carolyn PROPN taxlaw-2807 637 4 jones jones PROPN taxlaw-2807 637 5 , , PUNCT taxlaw-2807 637 6 class class NOUN taxlaw-2807 637 7 tax tax NOUN taxlaw-2807 637 8 to to ADP taxlaw-2807 637 9 a a DET taxlaw-2807 637 10 mass mass ADJ taxlaw-2807 637 11 tax tax NOUN taxlaw-2807 637 12 : : PUNCT taxlaw-2807 637 13 the the DET taxlaw-2807 637 14 role role NOUN taxlaw-2807 637 15 of of ADP taxlaw-2807 637 16 propaganda propaganda NOUN taxlaw-2807 637 17 in in ADP taxlaw-2807 637 18 the the DET taxlaw-2807 637 19 expansion expansion NOUN taxlaw-2807 637 20 of of ADP taxlaw-2807 637 21 the the DET taxlaw-2807 637 22 income income NOUN taxlaw-2807 637 23 tax tax NOUN taxlaw-2807 637 24 during during ADP taxlaw-2807 637 25 world world PROPN taxlaw-2807 637 26 war war PROPN taxlaw-2807 637 27 ii ii PROPN taxlaw-2807 637 28 , , PUNCT taxlaw-2807 637 29 37 37 NUM taxlaw-2807 637 30 buff buff PROPN taxlaw-2807 637 31 . . PUNCT taxlaw-2807 638 1 l. l. PROPN taxlaw-2807 638 2 rev rev PROPN taxlaw-2807 638 3 . . PROPN taxlaw-2807 638 4 685 685 NUM taxlaw-2807 638 5 ( ( PUNCT taxlaw-2807 638 6 1989 1989 NUM taxlaw-2807 638 7 ) ) PUNCT taxlaw-2807 638 8 ( ( PUNCT taxlaw-2807 638 9 explaining explain VERB taxlaw-2807 638 10 the the DET taxlaw-2807 638 11 dynamic dynamic NOUN taxlaw-2807 638 12 of of ADP taxlaw-2807 638 13 making make VERB taxlaw-2807 638 14 the the DET taxlaw-2807 638 15 income income NOUN taxlaw-2807 638 16 tax tax NOUN taxlaw-2807 638 17 to to ADP taxlaw-2807 638 18 a a DET taxlaw-2807 638 19 mass mass ADJ taxlaw-2807 638 20 tax tax NOUN taxlaw-2807 638 21 ) ) PUNCT taxlaw-2807 638 22 . . PUNCT taxlaw-2807 639 1 lately lately ADV taxlaw-2807 639 2 , , PUNCT taxlaw-2807 639 3 there there PRON taxlaw-2807 639 4 have have AUX taxlaw-2807 639 5 been be AUX taxlaw-2807 639 6 some some DET taxlaw-2807 639 7 calls call NOUN taxlaw-2807 639 8 to to PART taxlaw-2807 639 9 re re VERB taxlaw-2807 639 10 - - VERB taxlaw-2807 639 11 establish establish VERB taxlaw-2807 639 12 the the DET taxlaw-2807 639 13 income income NOUN taxlaw-2807 639 14 tax tax NOUN taxlaw-2807 639 15 as as ADP taxlaw-2807 639 16 an an DET taxlaw-2807 639 17 elite elite ADJ taxlaw-2807 639 18 tax tax NOUN taxlaw-2807 639 19 while while SCONJ taxlaw-2807 639 20 introducing introduce VERB taxlaw-2807 639 21 a a DET taxlaw-2807 639 22 federal federal ADJ taxlaw-2807 639 23 consumption consumption NOUN taxlaw-2807 639 24 tax tax NOUN taxlaw-2807 639 25 to to PART taxlaw-2807 639 26 replace replace VERB taxlaw-2807 639 27 the the DET taxlaw-2807 639 28 income income NOUN taxlaw-2807 639 29 tax tax NOUN taxlaw-2807 639 30 revenues revenue NOUN taxlaw-2807 639 31 from from ADP taxlaw-2807 639 32 the the DET taxlaw-2807 639 33 middle middle ADJ taxlaw-2807 639 34 class class NOUN taxlaw-2807 639 35 . . PUNCT taxlaw-2807 640 1 see see VERB taxlaw-2807 640 2 graetz graetz PROPN taxlaw-2807 640 3 , , PUNCT taxlaw-2807 640 4 supra supra PROPN taxlaw-2807 640 5 note note PROPN taxlaw-2807 640 6 149 149 NUM taxlaw-2807 640 7 , , PUNCT taxlaw-2807 640 8 at at ADP taxlaw-2807 640 9 281–99 281–99 NUM taxlaw-2807 640 10 . . PUNCT taxlaw-2807 641 1 72 72 NUM taxlaw-2807 641 2 columbia columbia PROPN taxlaw-2807 641 3 journal journal PROPN taxlaw-2807 641 4 of of ADP taxlaw-2807 641 5 tax tax NOUN taxlaw-2807 641 6 law law NOUN taxlaw-2807 641 7 [ [ X taxlaw-2807 641 8 vol.3:43 vol.3:43 PROPN taxlaw-2807 641 9 distributional distributional ADJ taxlaw-2807 641 10 impact impact NOUN taxlaw-2807 641 11 of of ADP taxlaw-2807 641 12 various various ADJ taxlaw-2807 641 13 types type NOUN taxlaw-2807 641 14 of of ADP taxlaw-2807 641 15 errors error NOUN taxlaw-2807 641 16 , , PUNCT taxlaw-2807 641 17 this this DET taxlaw-2807 641 18 article article NOUN taxlaw-2807 641 19 hopes hope VERB taxlaw-2807 641 20 to to PART taxlaw-2807 641 21 add add VERB taxlaw-2807 641 22 a a DET taxlaw-2807 641 23 new new ADJ taxlaw-2807 641 24 analytic analytic ADJ taxlaw-2807 641 25 consideration consideration NOUN taxlaw-2807 641 26 to to ADP taxlaw-2807 641 27 the the DET taxlaw-2807 641 28 discussion discussion NOUN taxlaw-2807 641 29 of of ADP taxlaw-2807 641 30 realization realization NOUN taxlaw-2807 641 31 . . PUNCT taxlaw-2807 642 1 this this DET taxlaw-2807 642 2 argument argument NOUN taxlaw-2807 642 3 deviates deviate VERB taxlaw-2807 642 4 from from ADP taxlaw-2807 642 5 traditional traditional ADJ taxlaw-2807 642 6 tax tax NOUN taxlaw-2807 642 7 analysis analysis NOUN taxlaw-2807 642 8 , , PUNCT taxlaw-2807 642 9 which which PRON taxlaw-2807 642 10 associates associate VERB taxlaw-2807 642 11 base base NOUN taxlaw-2807 642 12 progressivity progressivity NOUN taxlaw-2807 642 13 with with ADP taxlaw-2807 642 14 a a DET taxlaw-2807 642 15 broad broad ADJ taxlaw-2807 642 16 and and CCONJ taxlaw-2807 642 17 comprehensive comprehensive ADJ taxlaw-2807 642 18 base base NOUN taxlaw-2807 642 19 — — PUNCT taxlaw-2807 642 20 one one NOUN taxlaw-2807 642 21 that that PRON taxlaw-2807 642 22 employs employ VERB taxlaw-2807 642 23 few few ADJ taxlaw-2807 642 24 exceptions exception NOUN taxlaw-2807 642 25 and and CCONJ taxlaw-2807 642 26 exemptions.153 exemptions.153 VERB taxlaw-2807 642 27 the the DET taxlaw-2807 642 28 ability ability NOUN taxlaw-2807 642 29 of of ADP taxlaw-2807 642 30 the the DET taxlaw-2807 642 31 income income NOUN taxlaw-2807 642 32 tax tax NOUN taxlaw-2807 642 33 base base NOUN taxlaw-2807 642 34 to to PART taxlaw-2807 642 35 promote promote VERB taxlaw-2807 642 36 wealth wealth NOUN taxlaw-2807 642 37 redistribution redistribution NOUN taxlaw-2807 642 38 is be AUX taxlaw-2807 642 39 a a DET taxlaw-2807 642 40 combination combination NOUN taxlaw-2807 642 41 of of ADP taxlaw-2807 642 42 two two NUM taxlaw-2807 642 43 major major ADJ taxlaw-2807 642 44 factors factor NOUN taxlaw-2807 642 45 : : PUNCT taxlaw-2807 642 46 the the DET taxlaw-2807 642 47 tax tax NOUN taxlaw-2807 642 48 base base NOUN taxlaw-2807 642 49 ( ( PUNCT taxlaw-2807 642 50 what what PRON taxlaw-2807 642 51 is be AUX taxlaw-2807 642 52 taxed tax VERB taxlaw-2807 642 53 ) ) PUNCT taxlaw-2807 642 54 and and CCONJ taxlaw-2807 642 55 the the DET taxlaw-2807 642 56 rate rate NOUN taxlaw-2807 642 57 structure structure NOUN taxlaw-2807 642 58 ( ( PUNCT taxlaw-2807 642 59 how how SCONJ taxlaw-2807 642 60 much much ADJ taxlaw-2807 642 61 is be AUX taxlaw-2807 642 62 taxed tax VERB taxlaw-2807 642 63 ) ) PUNCT taxlaw-2807 642 64 . . PUNCT taxlaw-2807 643 1 any any DET taxlaw-2807 643 2 income income NOUN taxlaw-2807 643 3 tax tax NOUN taxlaw-2807 643 4 regime regime NOUN taxlaw-2807 643 5 can can AUX taxlaw-2807 643 6 make make VERB taxlaw-2807 643 7 a a DET taxlaw-2807 643 8 change change NOUN taxlaw-2807 643 9 in in ADP taxlaw-2807 643 10 one one NUM taxlaw-2807 643 11 of of ADP taxlaw-2807 643 12 these these DET taxlaw-2807 643 13 factors factor NOUN taxlaw-2807 643 14 and and CCONJ taxlaw-2807 643 15 remain remain VERB taxlaw-2807 643 16 distributionally distributionally ADV taxlaw-2807 643 17 neutral neutral ADJ taxlaw-2807 643 18 if if SCONJ taxlaw-2807 643 19 it it PRON taxlaw-2807 643 20 modifies modify VERB taxlaw-2807 643 21 the the DET taxlaw-2807 643 22 other other ADJ taxlaw-2807 643 23 factor factor NOUN taxlaw-2807 643 24 . . PUNCT taxlaw-2807 644 1 for for ADP taxlaw-2807 644 2 example example NOUN taxlaw-2807 644 3 , , PUNCT taxlaw-2807 644 4 if if SCONJ taxlaw-2807 644 5 the the DET taxlaw-2807 644 6 top top ADJ taxlaw-2807 644 7 marginal marginal ADJ taxlaw-2807 644 8 tax tax NOUN taxlaw-2807 644 9 rates rate NOUN taxlaw-2807 644 10 are be AUX taxlaw-2807 644 11 increased increase VERB taxlaw-2807 644 12 for for ADP taxlaw-2807 644 13 households household NOUN taxlaw-2807 644 14 earning earn VERB taxlaw-2807 644 15 more more ADJ taxlaw-2807 644 16 than than ADP taxlaw-2807 644 17 $ $ SYM taxlaw-2807 644 18 250,000 250,000 NUM taxlaw-2807 644 19 a a DET taxlaw-2807 644 20 year year NOUN taxlaw-2807 644 21 , , PUNCT taxlaw-2807 644 22 the the DET taxlaw-2807 644 23 income income NOUN taxlaw-2807 644 24 tax tax NOUN taxlaw-2807 644 25 would would AUX taxlaw-2807 644 26 become become VERB taxlaw-2807 644 27 more more ADV taxlaw-2807 644 28 progressive progressive ADJ taxlaw-2807 644 29 unless unless SCONJ taxlaw-2807 644 30 the the DET taxlaw-2807 644 31 tax tax NOUN taxlaw-2807 644 32 base base NOUN taxlaw-2807 644 33 were be AUX taxlaw-2807 644 34 adjusted adjust VERB taxlaw-2807 644 35 . . PUNCT taxlaw-2807 645 1 this this DET taxlaw-2807 645 2 adjustment adjustment NOUN taxlaw-2807 645 3 could could AUX taxlaw-2807 645 4 take take VERB taxlaw-2807 645 5 a a DET taxlaw-2807 645 6 number number NOUN taxlaw-2807 645 7 of of ADP taxlaw-2807 645 8 forms form NOUN taxlaw-2807 645 9 — — PUNCT taxlaw-2807 645 10 exempting exempt VERB taxlaw-2807 645 11 certain certain ADJ taxlaw-2807 645 12 types type NOUN taxlaw-2807 645 13 of of ADP taxlaw-2807 645 14 savings saving NOUN taxlaw-2807 645 15 ( ( PUNCT taxlaw-2807 645 16 e.g. e.g. ADV taxlaw-2807 645 17 , , PUNCT taxlaw-2807 645 18 college college NOUN taxlaw-2807 645 19 savings saving NOUN taxlaw-2807 645 20 ) ) PUNCT taxlaw-2807 645 21 or or CCONJ taxlaw-2807 645 22 providing provide VERB taxlaw-2807 645 23 benefits benefit NOUN taxlaw-2807 645 24 to to ADP taxlaw-2807 645 25 certain certain ADJ taxlaw-2807 645 26 consumption consumption NOUN taxlaw-2807 645 27 activities activity NOUN taxlaw-2807 645 28 ( ( PUNCT taxlaw-2807 645 29 e.g. e.g. ADV taxlaw-2807 645 30 , , PUNCT taxlaw-2807 645 31 new new ADJ taxlaw-2807 645 32 , , PUNCT taxlaw-2807 645 33 hybrid hybrid ADJ taxlaw-2807 645 34 cars car NOUN taxlaw-2807 645 35 ) ) PUNCT taxlaw-2807 645 36 that that SCONJ taxlaw-2807 645 37 affluent affluent ADJ taxlaw-2807 645 38 households household NOUN taxlaw-2807 645 39 are be AUX taxlaw-2807 645 40 more more ADV taxlaw-2807 645 41 likely likely ADJ taxlaw-2807 645 42 to to PART taxlaw-2807 645 43 engage engage VERB taxlaw-2807 645 44 in in ADP taxlaw-2807 645 45 . . PUNCT taxlaw-2807 646 1 in in ADP taxlaw-2807 646 2 this this DET taxlaw-2807 646 3 respect respect NOUN taxlaw-2807 646 4 , , PUNCT taxlaw-2807 646 5 this this DET taxlaw-2807 646 6 article article NOUN taxlaw-2807 646 7 offers offer VERB taxlaw-2807 646 8 an an DET taxlaw-2807 646 9 intellectual intellectual ADJ taxlaw-2807 646 10 supplement supplement NOUN taxlaw-2807 646 11 to to ADP taxlaw-2807 646 12 the the DET taxlaw-2807 646 13 traditional traditional ADJ taxlaw-2807 646 14 perception perception NOUN taxlaw-2807 646 15 of of ADP taxlaw-2807 646 16 tax tax NOUN taxlaw-2807 646 17 base base NOUN taxlaw-2807 646 18 progressivity progressivity NOUN taxlaw-2807 646 19 . . PUNCT taxlaw-2807 647 1 rather rather ADV taxlaw-2807 647 2 than than ADP taxlaw-2807 647 3 arguing argue VERB taxlaw-2807 647 4 for for ADP taxlaw-2807 647 5 a a DET taxlaw-2807 647 6 comprehensive comprehensive ADJ taxlaw-2807 647 7 benefit benefit NOUN taxlaw-2807 647 8 - - PUNCT taxlaw-2807 647 9 free free ADJ taxlaw-2807 647 10 tax tax NOUN taxlaw-2807 647 11 base base NOUN taxlaw-2807 647 12 , , PUNCT taxlaw-2807 647 13 it it PRON taxlaw-2807 647 14 contends contend VERB taxlaw-2807 647 15 that that SCONJ taxlaw-2807 647 16 a a DET taxlaw-2807 647 17 progressive progressive ADJ taxlaw-2807 647 18 tax tax NOUN taxlaw-2807 647 19 base base NOUN taxlaw-2807 647 20 could could AUX taxlaw-2807 647 21 be be AUX taxlaw-2807 647 22 attained attain VERB taxlaw-2807 647 23 by by ADP taxlaw-2807 647 24 endorsing endorse VERB taxlaw-2807 647 25 a a DET taxlaw-2807 647 26 tax tax NOUN taxlaw-2807 647 27 benefit benefit NOUN taxlaw-2807 647 28 that that PRON taxlaw-2807 647 29 is be AUX taxlaw-2807 647 30 progressively progressively ADV taxlaw-2807 647 31 allocated allocate VERB taxlaw-2807 647 32 . . PUNCT taxlaw-2807 648 1 this this PRON taxlaw-2807 648 2 is be AUX taxlaw-2807 648 3 precisely precisely ADV taxlaw-2807 648 4 what what PRON taxlaw-2807 648 5 we we PRON taxlaw-2807 648 6 have have AUX taxlaw-2807 648 7 argued argue VERB taxlaw-2807 648 8 with with ADP taxlaw-2807 648 9 respect respect NOUN taxlaw-2807 648 10 to to ADP taxlaw-2807 648 11 applying apply VERB taxlaw-2807 648 12 the the DET taxlaw-2807 648 13 realization realization NOUN taxlaw-2807 648 14 requirement requirement NOUN taxlaw-2807 648 15 only only ADV taxlaw-2807 648 16 to to ADP taxlaw-2807 648 17 personal personal ADJ taxlaw-2807 648 18 assets asset NOUN taxlaw-2807 648 19 . . PUNCT taxlaw-2807 649 1 such such DET taxlaw-2807 649 2 a a DET taxlaw-2807 649 3 deviation deviation NOUN taxlaw-2807 649 4 from from ADP taxlaw-2807 649 5 a a DET taxlaw-2807 649 6 pure pure ADJ taxlaw-2807 649 7 mark mark NOUN taxlaw-2807 649 8 - - PUNCT taxlaw-2807 649 9 to to ADP taxlaw-2807 649 10 - - PUNCT taxlaw-2807 649 11 market market NOUN taxlaw-2807 649 12 income income NOUN taxlaw-2807 649 13 tax tax NOUN taxlaw-2807 649 14 regime regime NOUN taxlaw-2807 649 15 would would AUX taxlaw-2807 649 16 make make VERB taxlaw-2807 649 17 the the DET taxlaw-2807 649 18 tax tax NOUN taxlaw-2807 649 19 base base NOUN taxlaw-2807 649 20 more more ADV taxlaw-2807 649 21 progressive progressive ADJ taxlaw-2807 649 22 because because SCONJ taxlaw-2807 649 23 the the DET taxlaw-2807 649 24 tax tax NOUN taxlaw-2807 649 25 benefit benefit NOUN taxlaw-2807 649 26 would would AUX taxlaw-2807 649 27 be be AUX taxlaw-2807 649 28 allocated allocate VERB taxlaw-2807 649 29 to to ADP taxlaw-2807 649 30 the the DET taxlaw-2807 649 31 owners owner NOUN taxlaw-2807 649 32 of of ADP taxlaw-2807 649 33 personal personal ADJ taxlaw-2807 649 34 assets asset NOUN taxlaw-2807 649 35 — — PUNCT taxlaw-2807 649 36 assets asset NOUN taxlaw-2807 649 37 that that PRON taxlaw-2807 649 38 represent represent VERB taxlaw-2807 649 39 a a DET taxlaw-2807 649 40 larger large ADJ taxlaw-2807 649 41 portion portion NOUN taxlaw-2807 649 42 of of ADP taxlaw-2807 649 43 the the DET taxlaw-2807 649 44 wealth wealth NOUN taxlaw-2807 649 45 of of ADP taxlaw-2807 649 46 less less ADV taxlaw-2807 649 47 affluent affluent ADJ taxlaw-2807 649 48 individuals individual NOUN taxlaw-2807 649 49 than than ADP taxlaw-2807 649 50 of of ADP taxlaw-2807 649 51 the the DET taxlaw-2807 649 52 rich rich ADJ taxlaw-2807 649 53 . . PUNCT taxlaw-2807 650 1 as as SCONJ taxlaw-2807 650 2 mentioned mention VERB taxlaw-2807 650 3 , , PUNCT taxlaw-2807 650 4 taxing tax VERB taxlaw-2807 650 5 individuals individual NOUN taxlaw-2807 650 6 according accord VERB taxlaw-2807 650 7 to to ADP taxlaw-2807 650 8 their their PRON taxlaw-2807 650 9 economic economic ADJ taxlaw-2807 650 10 well well NOUN taxlaw-2807 650 11 - - PUNCT taxlaw-2807 650 12 being being NOUN taxlaw-2807 650 13 requires require VERB taxlaw-2807 650 14 certain certain ADJ taxlaw-2807 650 15 interpersonal interpersonal ADJ taxlaw-2807 650 16 comparisons comparison NOUN taxlaw-2807 650 17 , , PUNCT taxlaw-2807 650 18 which which PRON taxlaw-2807 650 19 may may AUX taxlaw-2807 650 20 be be AUX taxlaw-2807 650 21 inherently inherently ADV taxlaw-2807 650 22 inaccurate.154 inaccurate.154 VERB taxlaw-2807 650 23 however however ADV taxlaw-2807 650 24 , , PUNCT taxlaw-2807 650 25 not not PART taxlaw-2807 650 26 all all DET taxlaw-2807 650 27 tax tax NOUN taxlaw-2807 650 28 assessment assessment NOUN taxlaw-2807 650 29 inaccuracies inaccuracy NOUN taxlaw-2807 650 30 are be AUX taxlaw-2807 650 31 created create VERB taxlaw-2807 650 32 equal equal ADJ taxlaw-2807 650 33 . . PUNCT taxlaw-2807 651 1 this this DET taxlaw-2807 651 2 article article NOUN taxlaw-2807 651 3 introduces introduce VERB taxlaw-2807 651 4 this this DET taxlaw-2807 651 5 insight insight NOUN taxlaw-2807 651 6 to to ADP taxlaw-2807 651 7 the the DET taxlaw-2807 651 8 realization realization NOUN taxlaw-2807 651 9 - - PUNCT taxlaw-2807 651 10 mistake mistake NOUN taxlaw-2807 651 11 literature literature NOUN taxlaw-2807 651 12 , , PUNCT taxlaw-2807 651 13 showing show VERB taxlaw-2807 651 14 that that SCONJ taxlaw-2807 651 15 the the DET taxlaw-2807 651 16 costs cost NOUN taxlaw-2807 651 17 of of ADP taxlaw-2807 651 18 certain certain ADJ taxlaw-2807 651 19 realization realization NOUN taxlaw-2807 651 20 inaccuracies inaccuracy NOUN taxlaw-2807 651 21 may may AUX taxlaw-2807 651 22 disproportionally disproportionally ADV taxlaw-2807 651 23 fall fall VERB taxlaw-2807 651 24 on on ADP taxlaw-2807 651 25 low low ADJ taxlaw-2807 651 26 and and CCONJ taxlaw-2807 651 27 medium medium ADJ taxlaw-2807 651 28 - - PUNCT taxlaw-2807 651 29 income income NOUN taxlaw-2807 651 30 taxpayers taxpayer NOUN taxlaw-2807 651 31 in in ADP taxlaw-2807 651 32 a a DET taxlaw-2807 651 33 way way NOUN taxlaw-2807 651 34 that that PRON taxlaw-2807 651 35 undermines undermine VERB taxlaw-2807 651 36 the the DET taxlaw-2807 651 37 notion notion NOUN taxlaw-2807 651 38 of of ADP taxlaw-2807 651 39 tax tax NOUN taxlaw-2807 651 40 progressivity progressivity NOUN taxlaw-2807 651 41 . . PUNCT taxlaw-2807 652 1 d. d. PROPN taxlaw-2807 652 2 advantages advantage NOUN taxlaw-2807 652 3 and and CCONJ taxlaw-2807 652 4 limitations limitation NOUN taxlaw-2807 652 5 of of ADP taxlaw-2807 652 6 the the DET taxlaw-2807 652 7 proposal proposal NOUN taxlaw-2807 652 8 a a DET taxlaw-2807 652 9 few few ADJ taxlaw-2807 652 10 lines line NOUN taxlaw-2807 652 11 of of ADP taxlaw-2807 652 12 criticism criticism NOUN taxlaw-2807 652 13 may may AUX taxlaw-2807 652 14 be be AUX taxlaw-2807 652 15 deployed deploy VERB taxlaw-2807 652 16 against against ADP taxlaw-2807 652 17 this this DET taxlaw-2807 652 18 argument argument NOUN taxlaw-2807 652 19 . . PUNCT taxlaw-2807 653 1 first first ADV taxlaw-2807 653 2 , , PUNCT taxlaw-2807 653 3 on on ADP taxlaw-2807 653 4 a a DET taxlaw-2807 653 5 very very ADV taxlaw-2807 653 6 basic basic ADJ taxlaw-2807 653 7 level level NOUN taxlaw-2807 653 8 , , PUNCT taxlaw-2807 653 9 some some PRON taxlaw-2807 653 10 may may AUX taxlaw-2807 653 11 contend contend VERB taxlaw-2807 653 12 that that SCONJ taxlaw-2807 653 13 the the DET taxlaw-2807 653 14 income income NOUN taxlaw-2807 653 15 tax tax NOUN taxlaw-2807 653 16 regime regime NOUN taxlaw-2807 653 17 should should AUX taxlaw-2807 653 18 not not PART taxlaw-2807 653 19 promote promote VERB taxlaw-2807 653 20 values value NOUN taxlaw-2807 653 21 of of ADP taxlaw-2807 653 22 progressivity progressivity NOUN taxlaw-2807 653 23 and and CCONJ taxlaw-2807 653 24 wealth wealth NOUN taxlaw-2807 653 25 redistribution redistribution NOUN taxlaw-2807 653 26 among among ADP taxlaw-2807 653 27 taxpayers taxpayer NOUN taxlaw-2807 653 28 . . PUNCT taxlaw-2807 654 1 second second ADJ taxlaw-2807 654 2 , , PUNCT taxlaw-2807 654 3 even even ADV taxlaw-2807 654 4 for for ADP taxlaw-2807 654 5 those those PRON taxlaw-2807 654 6 who who PRON taxlaw-2807 654 7 accept accept VERB taxlaw-2807 654 8 that that SCONJ taxlaw-2807 654 9 tax tax NOUN taxlaw-2807 654 10 progressivity progressivity NOUN taxlaw-2807 654 11 is be AUX taxlaw-2807 654 12 a a DET taxlaw-2807 654 13 worthy worthy ADJ taxlaw-2807 654 14 policy policy NOUN taxlaw-2807 654 15 goal goal NOUN taxlaw-2807 654 16 , , PUNCT taxlaw-2807 654 17 there there PRON taxlaw-2807 654 18 is be VERB taxlaw-2807 654 19 still still ADV taxlaw-2807 654 20 a a DET taxlaw-2807 654 21 question question NOUN taxlaw-2807 654 22 of of ADP taxlaw-2807 654 23 whether whether SCONJ taxlaw-2807 654 24 the the DET taxlaw-2807 654 25 tax tax NOUN taxlaw-2807 654 26 system system NOUN taxlaw-2807 654 27 should should AUX taxlaw-2807 654 28 become become VERB taxlaw-2807 654 29 more more ADV taxlaw-2807 654 30 progressive progressive ADJ taxlaw-2807 654 31 . . PUNCT taxlaw-2807 655 1 third third ADJ taxlaw-2807 655 2 , , PUNCT taxlaw-2807 655 3 it it PRON taxlaw-2807 655 4 is be AUX taxlaw-2807 655 5 not not PART taxlaw-2807 655 6 clear clear ADJ taxlaw-2807 655 7 that that SCONJ taxlaw-2807 655 8 granting grant VERB taxlaw-2807 655 9 a a DET taxlaw-2807 655 10 realization realization NOUN taxlaw-2807 655 11 tax tax NOUN taxlaw-2807 655 12 benefit benefit NOUN taxlaw-2807 655 13 to to ADP taxlaw-2807 655 14 personal personal ADJ taxlaw-2807 655 15 assets asset NOUN taxlaw-2807 655 16 is be AUX taxlaw-2807 655 17 the the DET taxlaw-2807 655 18 best good ADJ taxlaw-2807 655 19 way way NOUN taxlaw-2807 655 20 to to PART taxlaw-2807 655 21 promote promote VERB taxlaw-2807 655 22 tax tax NOUN taxlaw-2807 655 23 progressivity progressivity NOUN taxlaw-2807 655 24 . . PUNCT taxlaw-2807 656 1 the the DET taxlaw-2807 656 2 realization realization NOUN taxlaw-2807 656 3 requirement requirement NOUN taxlaw-2807 656 4 features feature VERB taxlaw-2807 656 5 some some DET taxlaw-2807 656 6 fundamental fundamental ADJ taxlaw-2807 656 7 arbitrariness arbitrariness NOUN taxlaw-2807 656 8 , , PUNCT taxlaw-2807 656 9 so so ADV taxlaw-2807 656 10 embracing embrace VERB taxlaw-2807 656 11 it it PRON taxlaw-2807 656 12 makes make VERB taxlaw-2807 656 13 redistribution redistribution NOUN taxlaw-2807 656 14 inherently inherently ADV taxlaw-2807 656 15 inaccurate inaccurate ADJ taxlaw-2807 656 16 . . PUNCT taxlaw-2807 657 1 similarly similarly ADV taxlaw-2807 657 2 , , PUNCT taxlaw-2807 657 3 other other ADJ taxlaw-2807 657 4 mechanisms mechanism NOUN taxlaw-2807 657 5 ( ( PUNCT taxlaw-2807 657 6 e.g. e.g. ADV taxlaw-2807 657 7 , , PUNCT taxlaw-2807 657 8 allowing allow VERB taxlaw-2807 657 9 higher high ADJ taxlaw-2807 657 10 personal personal ADJ taxlaw-2807 657 11 exemptions exemption NOUN taxlaw-2807 657 12 or or CCONJ taxlaw-2807 657 13 employing employ VERB taxlaw-2807 657 14 higher high ADJ taxlaw-2807 657 15 marginal marginal ADJ taxlaw-2807 657 16 tax tax NOUN taxlaw-2807 657 17 rates rate NOUN taxlaw-2807 657 18 ) ) PUNCT taxlaw-2807 657 19 could could AUX taxlaw-2807 657 20 prove prove VERB taxlaw-2807 657 21 to to PART taxlaw-2807 657 22 be be AUX taxlaw-2807 657 23 as as ADV taxlaw-2807 657 24 effective effective ADJ taxlaw-2807 657 25 . . PUNCT taxlaw-2807 658 1 fourth fourth ADJ taxlaw-2807 658 2 , , PUNCT taxlaw-2807 658 3 if if SCONJ taxlaw-2807 658 4 personal personal ADJ taxlaw-2807 658 5 assets asset NOUN taxlaw-2807 658 6 are be AUX taxlaw-2807 658 7 held hold VERB taxlaw-2807 658 8 in in ADP taxlaw-2807 658 9 a a DET taxlaw-2807 658 10 progressive progressive ADJ taxlaw-2807 658 11 manner manner NOUN taxlaw-2807 658 12 , , PUNCT taxlaw-2807 658 13 there there PRON taxlaw-2807 658 14 is be VERB taxlaw-2807 658 15 the the DET taxlaw-2807 658 16 question question NOUN taxlaw-2807 658 17 of of ADP taxlaw-2807 658 18 why why SCONJ taxlaw-2807 658 19 their their PRON taxlaw-2807 658 20 taxation taxation NOUN taxlaw-2807 658 21 should should AUX taxlaw-2807 658 22 be be AUX taxlaw-2807 658 23 deferred defer VERB taxlaw-2807 658 24 by by ADP taxlaw-2807 658 25 the the DET taxlaw-2807 658 26 realization realization NOUN taxlaw-2807 658 27 principle principle NOUN taxlaw-2807 658 28 rather rather ADV taxlaw-2807 658 29 than than ADP taxlaw-2807 658 30 completely completely ADV taxlaw-2807 658 31 exempt exempt ADJ taxlaw-2807 658 32 or or CCONJ taxlaw-2807 658 33 simply simply ADV taxlaw-2807 658 34 taxed tax VERB taxlaw-2807 658 35 at at ADP taxlaw-2807 658 36 lower low ADJ taxlaw-2807 658 37 rates rate NOUN taxlaw-2807 658 38 . . PUNCT taxlaw-2807 659 1 in in ADP taxlaw-2807 659 2 capsule capsule NOUN taxlaw-2807 659 3 form form NOUN taxlaw-2807 659 4 , , PUNCT taxlaw-2807 659 5 our our PRON taxlaw-2807 659 6 answers answer NOUN taxlaw-2807 659 7 to to ADP taxlaw-2807 659 8 these these DET taxlaw-2807 659 9 criticisms criticism NOUN taxlaw-2807 659 10 are be AUX taxlaw-2807 659 11 that that SCONJ taxlaw-2807 659 12 with with ADP taxlaw-2807 659 13 respect respect NOUN taxlaw-2807 659 14 to to ADP taxlaw-2807 659 15 the the DET taxlaw-2807 659 16 first first ADJ taxlaw-2807 659 17 and and CCONJ taxlaw-2807 659 18 second second ADJ taxlaw-2807 659 19 lines line NOUN taxlaw-2807 659 20 of of ADP taxlaw-2807 659 21 criticism criticism NOUN taxlaw-2807 659 22 , , PUNCT taxlaw-2807 659 23 we we PRON taxlaw-2807 659 24 point point VERB taxlaw-2807 659 25 out out ADP taxlaw-2807 659 26 that that SCONJ taxlaw-2807 659 27 while while SCONJ taxlaw-2807 659 28 the the DET taxlaw-2807 659 29 desirability desirability NOUN taxlaw-2807 659 30 of of ADP taxlaw-2807 659 31 tax tax NOUN taxlaw-2807 659 32 redistribution redistribution NOUN taxlaw-2807 659 33 goes go VERB taxlaw-2807 659 34 beyond beyond ADP taxlaw-2807 659 35 the the DET taxlaw-2807 659 36 scope scope NOUN taxlaw-2807 659 37 of of ADP taxlaw-2807 659 38 this this DET taxlaw-2807 659 39 paper paper NOUN taxlaw-2807 659 40 , , PUNCT taxlaw-2807 659 41 there there PRON taxlaw-2807 659 42 is be VERB taxlaw-2807 659 43 strong strong ADJ taxlaw-2807 659 44 theoretical theoretical ADJ taxlaw-2807 659 45 and and CCONJ taxlaw-2807 659 46 popular popular ADJ taxlaw-2807 659 47 support support NOUN taxlaw-2807 659 48 for for ADP taxlaw-2807 659 49 a a DET taxlaw-2807 659 50 153 153 NUM taxlaw-2807 659 51 see see NOUN taxlaw-2807 659 52 shaviro shaviro NOUN taxlaw-2807 659 53 , , PUNCT taxlaw-2807 659 54 supra supra PROPN taxlaw-2807 659 55 note note NOUN taxlaw-2807 659 56 1 1 NUM taxlaw-2807 659 57 , , PUNCT taxlaw-2807 659 58 at at ADP taxlaw-2807 659 59 4 4 NUM taxlaw-2807 659 60 ; ; PUNCT taxlaw-2807 659 61 stanley stanley PROPN taxlaw-2807 659 62 s. s. PROPN taxlaw-2807 659 63 surrey surrey PROPN taxlaw-2807 659 64 , , PUNCT taxlaw-2807 659 65 tax tax NOUN taxlaw-2807 659 66 incentives incentive NOUN taxlaw-2807 659 67 as as ADP taxlaw-2807 659 68 a a DET taxlaw-2807 659 69 device device NOUN taxlaw-2807 659 70 for for ADP taxlaw-2807 659 71 implementing implement VERB taxlaw-2807 659 72 government government NOUN taxlaw-2807 659 73 policy policy NOUN taxlaw-2807 659 74 : : PUNCT taxlaw-2807 659 75 a a DET taxlaw-2807 659 76 comparison comparison NOUN taxlaw-2807 659 77 with with ADP taxlaw-2807 659 78 direct direct ADJ taxlaw-2807 659 79 government government NOUN taxlaw-2807 659 80 expenditures expenditure NOUN taxlaw-2807 659 81 , , PUNCT taxlaw-2807 659 82 83 83 NUM taxlaw-2807 659 83 harv harv NOUN taxlaw-2807 659 84 . . PUNCT taxlaw-2807 660 1 l. l. PROPN taxlaw-2807 660 2 rev rev PROPN taxlaw-2807 660 3 . . PROPN taxlaw-2807 660 4 705 705 NUM taxlaw-2807 660 5 , , PUNCT taxlaw-2807 660 6 720–26 720–26 NUM taxlaw-2807 660 7 ( ( PUNCT taxlaw-2807 660 8 1970 1970 NUM taxlaw-2807 660 9 ) ) PUNCT taxlaw-2807 660 10 . . PUNCT taxlaw-2807 661 1 154 154 NUM taxlaw-2807 661 2 see see VERB taxlaw-2807 661 3 supra supra PROPN taxlaw-2807 661 4 note note NOUN taxlaw-2807 661 5 115 115 NUM taxlaw-2807 661 6 and and CCONJ taxlaw-2807 661 7 accompanying accompany VERB taxlaw-2807 661 8 text text NOUN taxlaw-2807 661 9 . . PUNCT taxlaw-2807 662 1 2011 2011 NUM taxlaw-2807 662 2 ] ] PUNCT taxlaw-2807 662 3 realization realization NOUN taxlaw-2807 662 4 and and CCONJ taxlaw-2807 662 5 progressivity progressivity NOUN taxlaw-2807 662 6 73 73 NUM taxlaw-2807 662 7 certain certain ADJ taxlaw-2807 662 8 level level NOUN taxlaw-2807 662 9 of of ADP taxlaw-2807 662 10 tax tax NOUN taxlaw-2807 662 11 progressivity progressivity NOUN taxlaw-2807 662 12 . . PUNCT taxlaw-2807 663 1 the the DET taxlaw-2807 663 2 third third ADJ taxlaw-2807 663 3 and and CCONJ taxlaw-2807 663 4 fourth fourth ADJ taxlaw-2807 663 5 potential potential ADJ taxlaw-2807 663 6 criticisms criticism NOUN taxlaw-2807 663 7 question question VERB taxlaw-2807 663 8 whether whether SCONJ taxlaw-2807 663 9 this this DET taxlaw-2807 663 10 article article NOUN taxlaw-2807 663 11 ’s ’s PART taxlaw-2807 663 12 proposal proposal NOUN taxlaw-2807 663 13 is be AUX taxlaw-2807 663 14 the the DET taxlaw-2807 663 15 proper proper ADJ taxlaw-2807 663 16 way way NOUN taxlaw-2807 663 17 to to ADP taxlaw-2807 663 18 structure structure NOUN taxlaw-2807 663 19 income income NOUN taxlaw-2807 663 20 tax tax NOUN taxlaw-2807 663 21 progressivity progressivity NOUN taxlaw-2807 663 22 to to PART taxlaw-2807 663 23 effectively effectively ADV taxlaw-2807 663 24 promote promote VERB taxlaw-2807 663 25 redistributive redistributive ADJ taxlaw-2807 663 26 objectives objective NOUN taxlaw-2807 663 27 . . PUNCT taxlaw-2807 664 1 the the DET taxlaw-2807 664 2 reply reply NOUN taxlaw-2807 664 3 to to ADP taxlaw-2807 664 4 these these DET taxlaw-2807 664 5 questions question NOUN taxlaw-2807 664 6 stresses stress VERB taxlaw-2807 664 7 one one NUM taxlaw-2807 664 8 core core NOUN taxlaw-2807 664 9 idea idea NOUN taxlaw-2807 664 10 . . PUNCT taxlaw-2807 665 1 this this DET taxlaw-2807 665 2 article article NOUN taxlaw-2807 665 3 does do AUX taxlaw-2807 665 4 not not PART taxlaw-2807 665 5 try try VERB taxlaw-2807 665 6 to to PART taxlaw-2807 665 7 propose propose VERB taxlaw-2807 665 8 the the DET taxlaw-2807 665 9 adoption adoption NOUN taxlaw-2807 665 10 of of ADP taxlaw-2807 665 11 a a DET taxlaw-2807 665 12 theoretically theoretically ADV taxlaw-2807 665 13 clean clean ADJ taxlaw-2807 665 14 yet yet CCONJ taxlaw-2807 665 15 impractical impractical ADJ taxlaw-2807 665 16 model model NOUN taxlaw-2807 665 17 . . PUNCT taxlaw-2807 666 1 instead instead ADV taxlaw-2807 666 2 , , PUNCT taxlaw-2807 666 3 it it PRON taxlaw-2807 666 4 seeks seek VERB taxlaw-2807 666 5 to to PART taxlaw-2807 666 6 suggest suggest VERB taxlaw-2807 666 7 how how SCONJ taxlaw-2807 666 8 tax tax NOUN taxlaw-2807 666 9 policymakers policymaker NOUN taxlaw-2807 666 10 can can AUX taxlaw-2807 666 11 try try VERB taxlaw-2807 666 12 to to PART taxlaw-2807 666 13 improve improve VERB taxlaw-2807 666 14 the the DET taxlaw-2807 666 15 current current ADJ taxlaw-2807 666 16 redistributive redistributive ADJ taxlaw-2807 666 17 tax tax NOUN taxlaw-2807 666 18 arrangements arrangement NOUN taxlaw-2807 666 19 in in ADP taxlaw-2807 666 20 the the DET taxlaw-2807 666 21 messy messy ADJ taxlaw-2807 666 22 reality reality NOUN taxlaw-2807 666 23 in in ADP taxlaw-2807 666 24 which which PRON taxlaw-2807 666 25 they they PRON taxlaw-2807 666 26 operate operate VERB taxlaw-2807 666 27 . . PUNCT taxlaw-2807 667 1 in in ADP taxlaw-2807 667 2 this this DET taxlaw-2807 667 3 context context NOUN taxlaw-2807 667 4 , , PUNCT taxlaw-2807 667 5 applying apply VERB taxlaw-2807 667 6 the the DET taxlaw-2807 667 7 realization realization NOUN taxlaw-2807 667 8 requirement requirement NOUN taxlaw-2807 667 9 to to ADP taxlaw-2807 667 10 personal personal ADJ taxlaw-2807 667 11 assets asset NOUN taxlaw-2807 667 12 is be AUX taxlaw-2807 667 13 a a DET taxlaw-2807 667 14 realistic realistic ADJ taxlaw-2807 667 15 measure measure NOUN taxlaw-2807 667 16 that that PRON taxlaw-2807 667 17 reasonably reasonably ADV taxlaw-2807 667 18 balances balance VERB taxlaw-2807 667 19 distributional distributional ADJ taxlaw-2807 667 20 objectives objective NOUN taxlaw-2807 667 21 with with ADP taxlaw-2807 667 22 efficiency efficiency NOUN taxlaw-2807 667 23 , , PUNCT taxlaw-2807 667 24 revenue revenue NOUN taxlaw-2807 667 25 , , PUNCT taxlaw-2807 667 26 and and CCONJ taxlaw-2807 667 27 tax tax NOUN taxlaw-2807 667 28 administration administration NOUN taxlaw-2807 667 29 concerns concern NOUN taxlaw-2807 667 30 . . PUNCT taxlaw-2807 668 1 the the DET taxlaw-2807 668 2 first first ADJ taxlaw-2807 668 3 line line NOUN taxlaw-2807 668 4 of of ADP taxlaw-2807 668 5 criticism criticism NOUN taxlaw-2807 668 6 highlights highlight VERB taxlaw-2807 668 7 two two NUM taxlaw-2807 668 8 different different ADJ taxlaw-2807 668 9 questions question NOUN taxlaw-2807 668 10 inherent inherent ADJ taxlaw-2807 668 11 in in ADP taxlaw-2807 668 12 the the DET taxlaw-2807 668 13 debate debate NOUN taxlaw-2807 668 14 over over ADP taxlaw-2807 668 15 tax tax NOUN taxlaw-2807 668 16 progressivity progressivity NOUN taxlaw-2807 668 17 : : PUNCT taxlaw-2807 668 18 whether whether SCONJ taxlaw-2807 668 19 wealth wealth NOUN taxlaw-2807 668 20 redistribution redistribution NOUN taxlaw-2807 668 21 is be AUX taxlaw-2807 668 22 a a DET taxlaw-2807 668 23 desired desire VERB taxlaw-2807 668 24 objective objective NOUN taxlaw-2807 668 25 and and CCONJ taxlaw-2807 668 26 whether whether SCONJ taxlaw-2807 668 27 the the DET taxlaw-2807 668 28 tax tax NOUN taxlaw-2807 668 29 system system NOUN taxlaw-2807 668 30 is be AUX taxlaw-2807 668 31 the the DET taxlaw-2807 668 32 proper proper ADJ taxlaw-2807 668 33 way way NOUN taxlaw-2807 668 34 to to PART taxlaw-2807 668 35 promote promote VERB taxlaw-2807 668 36 redistribution redistribution NOUN taxlaw-2807 668 37 . . PUNCT taxlaw-2807 669 1 these these DET taxlaw-2807 669 2 questions question NOUN taxlaw-2807 669 3 are be AUX taxlaw-2807 669 4 extremely extremely ADV taxlaw-2807 669 5 broad broad ADJ taxlaw-2807 669 6 , , PUNCT taxlaw-2807 669 7 so so CCONJ taxlaw-2807 669 8 this this DET taxlaw-2807 669 9 article article NOUN taxlaw-2807 669 10 can can AUX taxlaw-2807 669 11 merely merely ADV taxlaw-2807 669 12 point point VERB taxlaw-2807 669 13 to to ADP taxlaw-2807 669 14 the the DET taxlaw-2807 669 15 relevant relevant ADJ taxlaw-2807 669 16 political political ADJ taxlaw-2807 669 17 philosophy philosophy NOUN taxlaw-2807 669 18 and and CCONJ taxlaw-2807 669 19 tax tax NOUN taxlaw-2807 669 20 theories theory NOUN taxlaw-2807 669 21 addressing address VERB taxlaw-2807 669 22 them they PRON taxlaw-2807 669 23 . . PUNCT taxlaw-2807 670 1 most most ADJ taxlaw-2807 670 2 contemporary contemporary ADJ taxlaw-2807 670 3 liberal liberal ADJ taxlaw-2807 670 4 political political ADJ taxlaw-2807 670 5 theories theory NOUN taxlaw-2807 670 6 are be AUX taxlaw-2807 670 7 explicitly explicitly ADV taxlaw-2807 670 8 egalitarian egalitarian ADJ taxlaw-2807 670 9 to to ADP taxlaw-2807 670 10 some some PRON taxlaw-2807 670 11 degree.155 degree.155 NOUN taxlaw-2807 670 12 this this DET taxlaw-2807 670 13 means mean VERB taxlaw-2807 670 14 that that SCONJ taxlaw-2807 670 15 they they PRON taxlaw-2807 670 16 do do AUX taxlaw-2807 670 17 not not PART taxlaw-2807 670 18 categorically categorically ADV taxlaw-2807 670 19 accept accept VERB taxlaw-2807 670 20 the the DET taxlaw-2807 670 21 fairness fairness NOUN taxlaw-2807 670 22 of of ADP taxlaw-2807 670 23 the the DET taxlaw-2807 670 24 distribution distribution NOUN taxlaw-2807 670 25 of of ADP taxlaw-2807 670 26 assets asset NOUN taxlaw-2807 670 27 by by ADP taxlaw-2807 670 28 the the DET taxlaw-2807 670 29 market market NOUN taxlaw-2807 670 30 and and CCONJ taxlaw-2807 670 31 that that SCONJ taxlaw-2807 670 32 they they PRON taxlaw-2807 670 33 justify justify VERB taxlaw-2807 670 34 coercive coercive ADJ taxlaw-2807 670 35 state state NOUN taxlaw-2807 670 36 action action NOUN taxlaw-2807 670 37 to to PART taxlaw-2807 670 38 attain attain VERB taxlaw-2807 670 39 wealth wealth NOUN taxlaw-2807 670 40 redistribution redistribution NOUN taxlaw-2807 670 41 . . PUNCT taxlaw-2807 671 1 progressive progressive ADJ taxlaw-2807 671 2 wealth wealth NOUN taxlaw-2807 671 3 distribution distribution NOUN taxlaw-2807 671 4 is be AUX taxlaw-2807 671 5 typically typically ADV taxlaw-2807 671 6 not not PART taxlaw-2807 671 7 a a DET taxlaw-2807 671 8 goal goal NOUN taxlaw-2807 671 9 in in ADP taxlaw-2807 671 10 itself itself PRON taxlaw-2807 671 11 , , PUNCT taxlaw-2807 671 12 but but CCONJ taxlaw-2807 671 13 only only ADV taxlaw-2807 671 14 a a DET taxlaw-2807 671 15 proxy proxy NOUN taxlaw-2807 671 16 for for ADP taxlaw-2807 671 17 meeting meet VERB taxlaw-2807 671 18 a a DET taxlaw-2807 671 19 distribution distribution NOUN taxlaw-2807 671 20 of of ADP taxlaw-2807 671 21 something something PRON taxlaw-2807 671 22 more more ADV taxlaw-2807 671 23 fundamental fundamental ADJ taxlaw-2807 671 24 ( ( PUNCT taxlaw-2807 671 25 e.g. e.g. ADJ taxlaw-2807 671 26 , , PUNCT taxlaw-2807 671 27 welfare welfare NOUN taxlaw-2807 671 28 or or CCONJ taxlaw-2807 671 29 resources resource NOUN taxlaw-2807 671 30 , , PUNCT taxlaw-2807 671 31 as as SCONJ taxlaw-2807 671 32 explained explain VERB taxlaw-2807 671 33 in in ADP taxlaw-2807 671 34 part part NOUN taxlaw-2807 671 35 iii.a iii.a NUM taxlaw-2807 671 36 ) ) PUNCT taxlaw-2807 671 37 . . PUNCT taxlaw-2807 672 1 even even ADV taxlaw-2807 672 2 though though SCONJ taxlaw-2807 672 3 the the DET taxlaw-2807 672 4 distributional distributional ADJ taxlaw-2807 672 5 question question NOUN taxlaw-2807 672 6 involves involve VERB taxlaw-2807 672 7 many many ADJ taxlaw-2807 672 8 factors factor NOUN taxlaw-2807 672 9 and and CCONJ taxlaw-2807 672 10 nuances,156 nuances,156 PROPN taxlaw-2807 672 11 it it PRON taxlaw-2807 672 12 is be AUX taxlaw-2807 672 13 generally generally ADV taxlaw-2807 672 14 accepted accept VERB taxlaw-2807 672 15 that that SCONJ taxlaw-2807 672 16 promoting promote VERB taxlaw-2807 672 17 goals goal NOUN taxlaw-2807 672 18 of of ADP taxlaw-2807 672 19 wealth wealth NOUN taxlaw-2807 672 20 redistribution redistribution NOUN taxlaw-2807 672 21 justifies justify VERB taxlaw-2807 672 22 coercive coercive ADJ taxlaw-2807 672 23 state state NOUN taxlaw-2807 672 24 action.157 action.157 NOUN taxlaw-2807 672 25 philosophers philosopher NOUN taxlaw-2807 672 26 and and CCONJ taxlaw-2807 672 27 tax tax NOUN taxlaw-2807 672 28 scholars scholar NOUN taxlaw-2807 672 29 tend tend VERB taxlaw-2807 672 30 to to PART taxlaw-2807 672 31 agree agree VERB taxlaw-2807 672 32 that that SCONJ taxlaw-2807 672 33 , , PUNCT taxlaw-2807 672 34 if if SCONJ taxlaw-2807 672 35 wealth wealth NOUN taxlaw-2807 672 36 redistribution redistribution NOUN taxlaw-2807 672 37 is be AUX taxlaw-2807 672 38 explicitly explicitly ADV taxlaw-2807 672 39 incorporated incorporate VERB taxlaw-2807 672 40 into into ADP taxlaw-2807 672 41 the the DET taxlaw-2807 672 42 social social ADJ taxlaw-2807 672 43 welfare welfare NOUN taxlaw-2807 672 44 function function NOUN taxlaw-2807 672 45 , , PUNCT taxlaw-2807 672 46 the the DET taxlaw-2807 672 47 tax tax NOUN taxlaw-2807 672 48 regime regime NOUN taxlaw-2807 672 49 is be AUX taxlaw-2807 672 50 an an DET taxlaw-2807 672 51 effective effective ADJ taxlaw-2807 672 52 and and CCONJ taxlaw-2807 672 53 efficient efficient ADJ taxlaw-2807 672 54 way way NOUN taxlaw-2807 672 55 of of ADP taxlaw-2807 672 56 promoting promote VERB taxlaw-2807 672 57 it.158 it.158 PRON taxlaw-2807 672 58 this this DET taxlaw-2807 672 59 overall overall ADJ taxlaw-2807 672 60 consensus consensus NOUN taxlaw-2807 672 61 does do AUX taxlaw-2807 672 62 not not PART taxlaw-2807 672 63 downplay downplay VERB taxlaw-2807 672 64 the the DET taxlaw-2807 672 65 serious serious ADJ taxlaw-2807 672 66 normative normative ADJ taxlaw-2807 672 67 questions question NOUN taxlaw-2807 672 68 as as ADP taxlaw-2807 672 69 to to ADP taxlaw-2807 672 70 whether whether SCONJ taxlaw-2807 672 71 this this PRON taxlaw-2807 672 72 means mean VERB taxlaw-2807 672 73 that that SCONJ taxlaw-2807 672 74 a a DET taxlaw-2807 672 75 just just ADJ taxlaw-2807 672 76 tax tax NOUN taxlaw-2807 672 77 system system NOUN taxlaw-2807 672 78 has have VERB taxlaw-2807 672 79 to to PART taxlaw-2807 672 80 be be AUX taxlaw-2807 672 81 progressive.159 progressive.159 NOUN taxlaw-2807 672 82 it it PRON taxlaw-2807 672 83 also also ADV taxlaw-2807 672 84 does do AUX taxlaw-2807 672 85 not not PART taxlaw-2807 672 86 claim claim VERB taxlaw-2807 672 87 that that SCONJ taxlaw-2807 672 88 achieving achieve VERB taxlaw-2807 672 89 distributive distributive ADJ taxlaw-2807 672 90 justice justice NOUN taxlaw-2807 672 91 is be AUX taxlaw-2807 672 92 or or CCONJ taxlaw-2807 672 93 should should AUX taxlaw-2807 672 94 be be AUX taxlaw-2807 672 95 the the DET taxlaw-2807 672 96 only only ADJ taxlaw-2807 672 97 or or CCONJ taxlaw-2807 672 98 the the DET taxlaw-2807 672 99 primary primary ADJ taxlaw-2807 672 100 objective objective NOUN taxlaw-2807 672 101 of of ADP taxlaw-2807 672 102 the the DET taxlaw-2807 672 103 tax tax NOUN taxlaw-2807 672 104 regime regime NOUN taxlaw-2807 672 105 . . PUNCT taxlaw-2807 673 1 it it PRON taxlaw-2807 673 2 does do AUX taxlaw-2807 673 3 however however ADV taxlaw-2807 673 4 , , PUNCT taxlaw-2807 673 5 reflect reflect VERB taxlaw-2807 673 6 the the DET taxlaw-2807 673 7 notion notion NOUN taxlaw-2807 673 8 that that SCONJ taxlaw-2807 673 9 the the DET taxlaw-2807 673 10 tax tax NOUN taxlaw-2807 673 11 system system NOUN taxlaw-2807 673 12 comprises comprise VERB taxlaw-2807 673 13 a a DET taxlaw-2807 673 14 key key NOUN taxlaw-2807 673 15 , , PUNCT taxlaw-2807 673 16 and and CCONJ taxlaw-2807 673 17 some some PRON taxlaw-2807 673 18 would would AUX taxlaw-2807 673 19 say say VERB taxlaw-2807 673 20 the the DET taxlaw-2807 673 21 prominent prominent ADJ taxlaw-2807 673 22 , , PUNCT taxlaw-2807 673 23 element element NOUN taxlaw-2807 673 24 within within ADP taxlaw-2807 673 25 155 155 NUM taxlaw-2807 673 26 see see NOUN taxlaw-2807 673 27 benshalom benshalom NOUN taxlaw-2807 673 28 , , PUNCT taxlaw-2807 673 29 supra supra PROPN taxlaw-2807 673 30 note137 note137 PROPN taxlaw-2807 673 31 , , PUNCT taxlaw-2807 673 32 at at ADP taxlaw-2807 673 33 10–18 10–18 NUM taxlaw-2807 673 34 . . PUNCT taxlaw-2807 674 1 156 156 NUM taxlaw-2807 675 1 i i PRON taxlaw-2807 675 2 d. d. NOUN taxlaw-2807 675 3 at at ADP taxlaw-2807 675 4 34–36 34–36 PROPN taxlaw-2807 675 5 ( ( PUNCT taxlaw-2807 675 6 surveying survey VERB taxlaw-2807 675 7 these these DET taxlaw-2807 675 8 different different ADJ taxlaw-2807 675 9 layers layer NOUN taxlaw-2807 675 10 ) ) PUNCT taxlaw-2807 675 11 . . PUNCT taxlaw-2807 676 1 157 157 NUM taxlaw-2807 676 2 see see VERB taxlaw-2807 676 3 robert robert PROPN taxlaw-2807 676 4 nozick nozick PROPN taxlaw-2807 676 5 , , PUNCT taxlaw-2807 676 6 anarchy anarchy NOUN taxlaw-2807 676 7 , , PUNCT taxlaw-2807 676 8 state state NOUN taxlaw-2807 676 9 and and CCONJ taxlaw-2807 676 10 utopia utopia NOUN taxlaw-2807 676 11 149–74 149–74 PROPN taxlaw-2807 676 12 ( ( PUNCT taxlaw-2807 676 13 1974 1974 NUM taxlaw-2807 676 14 ) ) PUNCT taxlaw-2807 676 15 ( ( PUNCT taxlaw-2807 676 16 providing provide VERB taxlaw-2807 676 17 one one NUM taxlaw-2807 676 18 notable notable ADJ taxlaw-2807 676 19 exception exception NOUN taxlaw-2807 676 20 ) ) PUNCT taxlaw-2807 676 21 . . PUNCT taxlaw-2807 677 1 158 158 NUM taxlaw-2807 677 2 see see VERB taxlaw-2807 677 3 charles charles PROPN taxlaw-2807 677 4 o. o. PROPN taxlaw-2807 677 5 galvin galvin PROPN taxlaw-2807 677 6 & & CCONJ taxlaw-2807 677 7 boris boris PROPN taxlaw-2807 677 8 i. i. PROPN taxlaw-2807 677 9 bittker bittker PROPN taxlaw-2807 677 10 , , PUNCT taxlaw-2807 677 11 the the DET taxlaw-2807 677 12 income income NOUN taxlaw-2807 677 13 tax tax NOUN taxlaw-2807 677 14 : : PUNCT taxlaw-2807 677 15 how how SCONJ taxlaw-2807 677 16 progressive progressive ADJ taxlaw-2807 677 17 should should AUX taxlaw-2807 677 18 it it PRON taxlaw-2807 677 19 be be AUX taxlaw-2807 677 20 ? ? PUNCT taxlaw-2807 678 1 38–54 38–54 NUM taxlaw-2807 678 2 ( ( PUNCT taxlaw-2807 678 3 1969 1969 NUM taxlaw-2807 678 4 ) ) PUNCT taxlaw-2807 678 5 ( ( PUNCT taxlaw-2807 678 6 arguing argue VERB taxlaw-2807 678 7 that that SCONJ taxlaw-2807 678 8 income income NOUN taxlaw-2807 678 9 tax tax NOUN taxlaw-2807 678 10 progressivity progressivity NOUN taxlaw-2807 678 11 is be AUX taxlaw-2807 678 12 necessary necessary ADJ taxlaw-2807 678 13 to to PART taxlaw-2807 678 14 offset offset VERB taxlaw-2807 678 15 certain certain ADJ taxlaw-2807 678 16 regressive regressive ADJ taxlaw-2807 678 17 tendencies tendency NOUN taxlaw-2807 678 18 in in ADP taxlaw-2807 678 19 other other ADJ taxlaw-2807 678 20 federal federal ADJ taxlaw-2807 678 21 , , PUNCT taxlaw-2807 678 22 state state NOUN taxlaw-2807 678 23 , , PUNCT taxlaw-2807 678 24 and and CCONJ taxlaw-2807 678 25 local local ADJ taxlaw-2807 678 26 taxes taxis NOUN taxlaw-2807 678 27 ) ) PUNCT taxlaw-2807 678 28 ; ; PUNCT taxlaw-2807 678 29 bankman bankman PROPN taxlaw-2807 678 30 & & CCONJ taxlaw-2807 678 31 griffith griffith PROPN taxlaw-2807 678 32 , , PUNCT taxlaw-2807 678 33 supra supra PROPN taxlaw-2807 678 34 note note NOUN taxlaw-2807 678 35 73 73 NUM taxlaw-2807 678 36 , , PUNCT taxlaw-2807 678 37 at at ADP taxlaw-2807 678 38 1946 1946 NUM taxlaw-2807 678 39 - - SYM taxlaw-2807 678 40 47 47 NUM taxlaw-2807 678 41 ( ( PUNCT taxlaw-2807 678 42 saying say VERB taxlaw-2807 678 43 that that SCONJ taxlaw-2807 678 44 income income NOUN taxlaw-2807 678 45 tax tax NOUN taxlaw-2807 678 46 progressivity progressivity NOUN taxlaw-2807 678 47 is be AUX taxlaw-2807 678 48 typically typically ADV taxlaw-2807 678 49 explained explain VERB taxlaw-2807 678 50 by by ADP taxlaw-2807 678 51 proportionate proportionate ADJ taxlaw-2807 678 52 sacrifice sacrifice NOUN taxlaw-2807 678 53 and and CCONJ taxlaw-2807 678 54 the the DET taxlaw-2807 678 55 declining decline VERB taxlaw-2807 678 56 marginal marginal ADJ taxlaw-2807 678 57 utility utility NOUN taxlaw-2807 678 58 of of ADP taxlaw-2807 678 59 money money NOUN taxlaw-2807 678 60 ) ) PUNCT taxlaw-2807 678 61 ; ; PUNCT taxlaw-2807 678 62 thomas thomas PROPN taxlaw-2807 678 63 d. d. PROPN taxlaw-2807 678 64 griffith griffith PROPN taxlaw-2807 678 65 , , PUNCT taxlaw-2807 678 66 progressive progressive ADJ taxlaw-2807 678 67 taxation taxation NOUN taxlaw-2807 678 68 and and CCONJ taxlaw-2807 678 69 happiness happiness NOUN taxlaw-2807 678 70 , , PUNCT taxlaw-2807 678 71 45 45 NUM taxlaw-2807 678 72 b.c b.c PROPN taxlaw-2807 678 73 . . PROPN taxlaw-2807 678 74 l. l. PROPN taxlaw-2807 678 75 rev rev PROPN taxlaw-2807 678 76 . . PROPN taxlaw-2807 678 77 1363 1363 NUM taxlaw-2807 678 78 , , PUNCT taxlaw-2807 678 79 1364 1364 NUM taxlaw-2807 678 80 ( ( PUNCT taxlaw-2807 678 81 2004 2004 NUM taxlaw-2807 678 82 ) ) PUNCT taxlaw-2807 678 83 ( ( PUNCT taxlaw-2807 678 84 supporting support VERB taxlaw-2807 678 85 progressive progressive ADJ taxlaw-2807 678 86 taxation taxation NOUN taxlaw-2807 678 87 on on ADP taxlaw-2807 678 88 account account NOUN taxlaw-2807 678 89 of of ADP taxlaw-2807 678 90 social social ADJ taxlaw-2807 678 91 science science NOUN taxlaw-2807 678 92 research research NOUN taxlaw-2807 678 93 that that PRON taxlaw-2807 678 94 tries try VERB taxlaw-2807 678 95 to to PART taxlaw-2807 678 96 estimate estimate VERB taxlaw-2807 678 97 the the DET taxlaw-2807 678 98 marginal marginal ADJ taxlaw-2807 678 99 effect effect NOUN taxlaw-2807 678 100 of of ADP taxlaw-2807 678 101 wealth wealth NOUN taxlaw-2807 678 102 on on ADP taxlaw-2807 678 103 individual individual ADJ taxlaw-2807 678 104 happiness happiness NOUN taxlaw-2807 678 105 ) ) PUNCT taxlaw-2807 678 106 ; ; PUNCT taxlaw-2807 678 107 kaplow kaplow NOUN taxlaw-2807 678 108 , , PUNCT taxlaw-2807 678 109 supra supra PROPN taxlaw-2807 678 110 note note NOUN taxlaw-2807 678 111 120 120 NUM taxlaw-2807 678 112 , , PUNCT taxlaw-2807 678 113 at at ADP taxlaw-2807 678 114 39 39 NUM taxlaw-2807 678 115 ; ; PUNCT taxlaw-2807 678 116 louis louis PROPN taxlaw-2807 678 117 kaplow kaplow PROPN taxlaw-2807 678 118 & & CCONJ taxlaw-2807 678 119 steven steven PROPN taxlaw-2807 678 120 shavell shavell PROPN taxlaw-2807 678 121 , , PUNCT taxlaw-2807 678 122 should should AUX taxlaw-2807 678 123 legal legal ADJ taxlaw-2807 678 124 rules rule NOUN taxlaw-2807 678 125 favor favor VERB taxlaw-2807 678 126 the the DET taxlaw-2807 678 127 poor poor ADJ taxlaw-2807 678 128 ? ? PUNCT taxlaw-2807 679 1 clarifying clarify VERB taxlaw-2807 679 2 the the DET taxlaw-2807 679 3 role role NOUN taxlaw-2807 679 4 of of ADP taxlaw-2807 679 5 legal legal ADJ taxlaw-2807 679 6 rules rule NOUN taxlaw-2807 679 7 and and CCONJ taxlaw-2807 679 8 the the DET taxlaw-2807 679 9 income income NOUN taxlaw-2807 679 10 tax tax NOUN taxlaw-2807 679 11 in in ADP taxlaw-2807 679 12 redistributing redistribute VERB taxlaw-2807 679 13 income income NOUN taxlaw-2807 679 14 , , PUNCT taxlaw-2807 679 15 29 29 NUM taxlaw-2807 679 16 j. j. PROPN taxlaw-2807 679 17 legal legal ADJ taxlaw-2807 679 18 stud stud NOUN taxlaw-2807 679 19 . . PUNCT taxlaw-2807 680 1 821 821 NUM taxlaw-2807 680 2 ( ( PUNCT taxlaw-2807 680 3 2000 2000 NUM taxlaw-2807 680 4 ) ) PUNCT taxlaw-2807 680 5 ( ( PUNCT taxlaw-2807 680 6 arguing argue VERB taxlaw-2807 680 7 that that SCONJ taxlaw-2807 680 8 the the DET taxlaw-2807 680 9 tax tax NOUN taxlaw-2807 680 10 - - PUNCT taxlaw-2807 680 11 transfer transfer NOUN taxlaw-2807 680 12 regime regime NOUN taxlaw-2807 680 13 redistributes redistribute NOUN taxlaw-2807 680 14 in in ADP taxlaw-2807 680 15 a a DET taxlaw-2807 680 16 way way NOUN taxlaw-2807 680 17 that that PRON taxlaw-2807 680 18 results result VERB taxlaw-2807 680 19 in in ADP taxlaw-2807 680 20 comparatively comparatively ADV taxlaw-2807 680 21 less less ADJ taxlaw-2807 680 22 economic economic ADJ taxlaw-2807 680 23 distortion distortion NOUN taxlaw-2807 680 24 than than ADP taxlaw-2807 680 25 other other ADJ taxlaw-2807 680 26 legal legal ADJ taxlaw-2807 680 27 rules rule NOUN taxlaw-2807 680 28 ) ) PUNCT taxlaw-2807 680 29 ; ; PUNCT taxlaw-2807 680 30 kamin kamin PROPN taxlaw-2807 680 31 , , PUNCT taxlaw-2807 680 32 supra supra PROPN taxlaw-2807 680 33 note note PROPN taxlaw-2807 680 34 47 47 NUM taxlaw-2807 680 35 , , PUNCT taxlaw-2807 680 36 at at ADP taxlaw-2807 680 37 244 244 NUM taxlaw-2807 680 38 ( ( PUNCT taxlaw-2807 680 39 explaining explain VERB taxlaw-2807 680 40 how how SCONJ taxlaw-2807 680 41 different different ADJ taxlaw-2807 680 42 measures measure NOUN taxlaw-2807 680 43 of of ADP taxlaw-2807 680 44 progressivity progressivity NOUN taxlaw-2807 680 45 relate relate VERB taxlaw-2807 680 46 to to ADP taxlaw-2807 680 47 different different ADJ taxlaw-2807 680 48 theories theory NOUN taxlaw-2807 680 49 of of ADP taxlaw-2807 680 50 distributive distributive ADJ taxlaw-2807 680 51 justice justice NOUN taxlaw-2807 680 52 ) ) PUNCT taxlaw-2807 680 53 ; ; PUNCT taxlaw-2807 681 1 sugin sugin VERB taxlaw-2807 681 2 , , PUNCT taxlaw-2807 681 3 supra supra PROPN taxlaw-2807 681 4 note note PROPN taxlaw-2807 681 5 64 64 NUM taxlaw-2807 681 6 , , PUNCT taxlaw-2807 681 7 at at ADP taxlaw-2807 681 8 2013–14 2013–14 NUM taxlaw-2807 681 9 . . PUNCT taxlaw-2807 682 1 but but CCONJ taxlaw-2807 682 2 see see VERB taxlaw-2807 682 3 kyle kyle PROPN taxlaw-2807 682 4 logue logue PROPN taxlaw-2807 682 5 & & CCONJ taxlaw-2807 682 6 ronen ronen PROPN taxlaw-2807 682 7 avraham avraham PROPN taxlaw-2807 682 8 , , PUNCT taxlaw-2807 682 9 redistributing redistribute VERB taxlaw-2807 682 10 optimally optimally ADV taxlaw-2807 682 11 : : PUNCT taxlaw-2807 682 12 of of ADP taxlaw-2807 682 13 tax tax NOUN taxlaw-2807 682 14 rules rule NOUN taxlaw-2807 682 15 , , PUNCT taxlaw-2807 682 16 legal legal ADJ taxlaw-2807 682 17 rules rule NOUN taxlaw-2807 682 18 , , PUNCT taxlaw-2807 682 19 and and CCONJ taxlaw-2807 682 20 insurance insurance NOUN taxlaw-2807 682 21 , , PUNCT taxlaw-2807 682 22 56 56 NUM taxlaw-2807 682 23 tax tax NOUN taxlaw-2807 682 24 l. l. PROPN taxlaw-2807 682 25 rev rev PROPN taxlaw-2807 682 26 . . PROPN taxlaw-2807 682 27 157 157 NUM taxlaw-2807 682 28 , , PUNCT taxlaw-2807 682 29 208 208 NUM taxlaw-2807 682 30 ( ( PUNCT taxlaw-2807 682 31 2003 2003 NUM taxlaw-2807 682 32 ) ) PUNCT taxlaw-2807 682 33 ( ( PUNCT taxlaw-2807 682 34 arguing argue VERB taxlaw-2807 682 35 against against ADP taxlaw-2807 682 36 kaplow kaplow NOUN taxlaw-2807 682 37 and and CCONJ taxlaw-2807 682 38 shavell shavell VERB taxlaw-2807 682 39 that that SCONJ taxlaw-2807 682 40 the the DET taxlaw-2807 682 41 distinction distinction NOUN taxlaw-2807 682 42 between between ADP taxlaw-2807 682 43 tax tax NOUN taxlaw-2807 682 44 rules rule NOUN taxlaw-2807 682 45 and and CCONJ taxlaw-2807 682 46 legal legal ADJ taxlaw-2807 682 47 rules rule NOUN taxlaw-2807 682 48 is be AUX taxlaw-2807 682 49 not not PART taxlaw-2807 682 50 always always ADV taxlaw-2807 682 51 that that PRON taxlaw-2807 682 52 clear clear ADJ taxlaw-2807 682 53 ) ) PUNCT taxlaw-2807 682 54 . . PUNCT taxlaw-2807 683 1 for for ADP taxlaw-2807 683 2 an an DET taxlaw-2807 683 3 example example NOUN taxlaw-2807 683 4 of of ADP taxlaw-2807 683 5 regressive regressive ADJ taxlaw-2807 683 6 tendencies tendency NOUN taxlaw-2807 683 7 in in ADP taxlaw-2807 683 8 federal federal ADJ taxlaw-2807 683 9 spending spending NOUN taxlaw-2807 683 10 , , PUNCT taxlaw-2807 683 11 see see VERB taxlaw-2807 683 12 julia julia PROPN taxlaw-2807 683 13 lynn lynn PROPN taxlaw-2807 683 14 coronado coronado PROPN taxlaw-2807 683 15 et et PROPN taxlaw-2807 683 16 al al PROPN taxlaw-2807 683 17 . . PROPN taxlaw-2807 683 18 , , PUNCT taxlaw-2807 683 19 the the DET taxlaw-2807 683 20 progressivity progressivity NOUN taxlaw-2807 683 21 of of ADP taxlaw-2807 683 22 social social ADJ taxlaw-2807 683 23 security security NOUN taxlaw-2807 683 24 , , PUNCT taxlaw-2807 683 25 national national ADJ taxlaw-2807 683 26 bureau bureau NOUN taxlaw-2807 683 27 of of ADP taxlaw-2807 683 28 economic economic ADJ taxlaw-2807 683 29 research research NOUN taxlaw-2807 683 30 ( ( PUNCT taxlaw-2807 683 31 feb feb PROPN taxlaw-2807 683 32 . . PROPN taxlaw-2807 683 33 2000 2000 NUM taxlaw-2807 683 34 ) ) PUNCT taxlaw-2807 683 35 , , PUNCT taxlaw-2807 683 36 http://www.nber.org/papers/w7520 http://www.nber.org/papers/w7520 PROPN taxlaw-2807 683 37 ( ( PUNCT taxlaw-2807 683 38 concluding conclude VERB taxlaw-2807 683 39 that that SCONJ taxlaw-2807 683 40 social social ADJ taxlaw-2807 683 41 security security NOUN taxlaw-2807 683 42 taxes taxis NOUN taxlaw-2807 683 43 are be AUX taxlaw-2807 683 44 regressive regressive ADJ taxlaw-2807 683 45 in in ADP taxlaw-2807 683 46 part part NOUN taxlaw-2807 683 47 because because SCONJ taxlaw-2807 683 48 lower low ADJ taxlaw-2807 683 49 income income NOUN taxlaw-2807 683 50 individuals individual NOUN taxlaw-2807 683 51 have have VERB taxlaw-2807 683 52 shorter short ADJ taxlaw-2807 683 53 average average ADJ taxlaw-2807 683 54 life life NOUN taxlaw-2807 683 55 spans span NOUN taxlaw-2807 683 56 than than ADP taxlaw-2807 683 57 higher high ADJ taxlaw-2807 683 58 income income NOUN taxlaw-2807 683 59 individuals individual NOUN taxlaw-2807 683 60 ) ) PUNCT taxlaw-2807 683 61 . . PUNCT taxlaw-2807 684 1 159 159 NUM taxlaw-2807 684 2 see see VERB taxlaw-2807 684 3 liam liam PROPN taxlaw-2807 684 4 murphy murphy PROPN taxlaw-2807 684 5 & & CCONJ taxlaw-2807 684 6 thomas thomas PROPN taxlaw-2807 684 7 nagel nagel PROPN taxlaw-2807 684 8 , , PUNCT taxlaw-2807 684 9 the the DET taxlaw-2807 684 10 myth myth NOUN taxlaw-2807 684 11 of of ADP taxlaw-2807 684 12 ownership ownership NOUN taxlaw-2807 684 13 8 8 NUM taxlaw-2807 684 14 ( ( PUNCT taxlaw-2807 684 15 2002 2002 NUM taxlaw-2807 684 16 ) ) PUNCT taxlaw-2807 684 17 . . PUNCT taxlaw-2807 685 1 74 74 NUM taxlaw-2807 685 2 columbia columbia PROPN taxlaw-2807 685 3 journal journal PROPN taxlaw-2807 685 4 of of ADP taxlaw-2807 685 5 tax tax NOUN taxlaw-2807 685 6 law law NOUN taxlaw-2807 685 7 [ [ X taxlaw-2807 685 8 vol.3:43 vol.3:43 PROPN taxlaw-2807 685 9 the the DET taxlaw-2807 685 10 arsenal arsenal NOUN taxlaw-2807 685 11 of of ADP taxlaw-2807 685 12 tools tool NOUN taxlaw-2807 685 13 that that PRON taxlaw-2807 685 14 policymakers policymaker NOUN taxlaw-2807 685 15 have have VERB taxlaw-2807 685 16 to to PART taxlaw-2807 685 17 promote promote VERB taxlaw-2807 685 18 redistribution redistribution NOUN taxlaw-2807 685 19 of of ADP taxlaw-2807 685 20 wealth.160 wealth.160 NOUN taxlaw-2807 685 21 this this PRON taxlaw-2807 685 22 suggests suggest VERB taxlaw-2807 685 23 that that SCONJ taxlaw-2807 685 24 modern modern ADJ taxlaw-2807 685 25 liberal liberal ADJ taxlaw-2807 685 26 states state NOUN taxlaw-2807 685 27 should should AUX taxlaw-2807 685 28 consider consider VERB taxlaw-2807 685 29 employing employ VERB taxlaw-2807 685 30 a a DET taxlaw-2807 685 31 progressive progressive ADJ taxlaw-2807 685 32 tax tax NOUN taxlaw-2807 685 33 regime regime NOUN taxlaw-2807 685 34 to to PART taxlaw-2807 685 35 meet meet VERB taxlaw-2807 685 36 their their PRON taxlaw-2807 685 37 wealth wealth NOUN taxlaw-2807 685 38 - - PUNCT taxlaw-2807 685 39 redistribution redistribution NOUN taxlaw-2807 685 40 objectives.161 objectives.161 VERB taxlaw-2807 685 41 the the DET taxlaw-2807 685 42 use use NOUN taxlaw-2807 685 43 of of ADP taxlaw-2807 685 44 progressive progressive ADJ taxlaw-2807 685 45 taxation taxation NOUN taxlaw-2807 685 46 also also ADV taxlaw-2807 685 47 seems seem VERB taxlaw-2807 685 48 to to PART taxlaw-2807 685 49 carry carry VERB taxlaw-2807 685 50 significant significant ADJ taxlaw-2807 685 51 support support NOUN taxlaw-2807 685 52 among among ADP taxlaw-2807 685 53 the the DET taxlaw-2807 685 54 american american ADJ taxlaw-2807 685 55 public.162 public.162 NOUN taxlaw-2807 685 56 the the DET taxlaw-2807 685 57 second second ADJ taxlaw-2807 685 58 type type NOUN taxlaw-2807 685 59 of of ADP taxlaw-2807 685 60 criticism criticism NOUN taxlaw-2807 685 61 asks ask VERB taxlaw-2807 685 62 whether whether SCONJ taxlaw-2807 685 63 more more ADJ taxlaw-2807 685 64 progressivity progressivity NOUN taxlaw-2807 685 65 is be AUX taxlaw-2807 685 66 warranted warrant VERB taxlaw-2807 685 67 . . PUNCT taxlaw-2807 686 1 the the DET taxlaw-2807 686 2 reply reply NOUN taxlaw-2807 686 3 to to ADP taxlaw-2807 686 4 this this DET taxlaw-2807 686 5 criticism criticism NOUN taxlaw-2807 686 6 is be AUX taxlaw-2807 686 7 that that SCONJ taxlaw-2807 686 8 the the DET taxlaw-2807 686 9 current current ADJ taxlaw-2807 686 10 proposal proposal NOUN taxlaw-2807 686 11 does do AUX taxlaw-2807 686 12 not not PART taxlaw-2807 686 13 contribute contribute VERB taxlaw-2807 686 14 to to ADP taxlaw-2807 686 15 the the DET taxlaw-2807 686 16 discussion discussion NOUN taxlaw-2807 686 17 of of ADP taxlaw-2807 686 18 how how SCONJ taxlaw-2807 686 19 progressive progressive ADJ taxlaw-2807 686 20 the the DET taxlaw-2807 686 21 tax tax NOUN taxlaw-2807 686 22 system system NOUN taxlaw-2807 686 23 should should AUX taxlaw-2807 686 24 be be AUX taxlaw-2807 686 25 , , PUNCT taxlaw-2807 686 26 but but CCONJ taxlaw-2807 686 27 rather rather ADV taxlaw-2807 686 28 to to ADP taxlaw-2807 686 29 the the DET taxlaw-2807 686 30 discussion discussion NOUN taxlaw-2807 686 31 of of ADP taxlaw-2807 686 32 how how SCONJ taxlaw-2807 686 33 a a DET taxlaw-2807 686 34 progressive progressive ADJ taxlaw-2807 686 35 tax tax NOUN taxlaw-2807 686 36 system system NOUN taxlaw-2807 686 37 should should AUX taxlaw-2807 686 38 be be AUX taxlaw-2807 686 39 designed design VERB taxlaw-2807 686 40 . . PUNCT taxlaw-2807 687 1 policymakers policymaker NOUN taxlaw-2807 687 2 could could AUX taxlaw-2807 687 3 use use VERB taxlaw-2807 687 4 our our PRON taxlaw-2807 687 5 proposal proposal NOUN taxlaw-2807 687 6 to to PART taxlaw-2807 687 7 make make VERB taxlaw-2807 687 8 the the DET taxlaw-2807 687 9 tax tax NOUN taxlaw-2807 687 10 system system NOUN taxlaw-2807 687 11 more more ADV taxlaw-2807 687 12 progressive progressive ADJ taxlaw-2807 687 13 , , PUNCT taxlaw-2807 687 14 or or CCONJ taxlaw-2807 687 15 they they PRON taxlaw-2807 687 16 could could AUX taxlaw-2807 687 17 use use VERB taxlaw-2807 687 18 it it PRON taxlaw-2807 687 19 to to PART taxlaw-2807 687 20 maintain maintain VERB taxlaw-2807 687 21 a a DET taxlaw-2807 687 22 distributionally distributionally ADV taxlaw-2807 687 23 neutral neutral ADJ taxlaw-2807 687 24 tax tax NOUN taxlaw-2807 687 25 regime regime NOUN taxlaw-2807 687 26 — — PUNCT taxlaw-2807 687 27 by by ADP taxlaw-2807 687 28 , , PUNCT taxlaw-2807 687 29 for for ADP taxlaw-2807 687 30 example example NOUN taxlaw-2807 687 31 , , PUNCT taxlaw-2807 687 32 reducing reduce VERB taxlaw-2807 687 33 marginal marginal ADJ taxlaw-2807 687 34 tax tax NOUN taxlaw-2807 687 35 rates rate NOUN taxlaw-2807 687 36 , , PUNCT taxlaw-2807 687 37 which which PRON taxlaw-2807 687 38 would would AUX taxlaw-2807 687 39 make make VERB taxlaw-2807 687 40 the the DET taxlaw-2807 687 41 tax tax NOUN taxlaw-2807 687 42 rate rate NOUN taxlaw-2807 687 43 structure structure NOUN taxlaw-2807 687 44 less less ADV taxlaw-2807 687 45 steeply steeply ADJ taxlaw-2807 687 46 progressive.163 progressive.163 NOUN taxlaw-2807 687 47 the the DET taxlaw-2807 687 48 third third ADJ taxlaw-2807 687 49 line line NOUN taxlaw-2807 687 50 of of ADP taxlaw-2807 687 51 potential potential ADJ taxlaw-2807 687 52 criticism criticism NOUN taxlaw-2807 687 53 against against ADP taxlaw-2807 687 54 our our PRON taxlaw-2807 687 55 argument argument NOUN taxlaw-2807 687 56 questions question NOUN taxlaw-2807 687 57 whether whether SCONJ taxlaw-2807 687 58 providing provide VERB taxlaw-2807 687 59 a a DET taxlaw-2807 687 60 realization realization NOUN taxlaw-2807 687 61 - - PUNCT taxlaw-2807 687 62 based base VERB taxlaw-2807 687 63 income income NOUN taxlaw-2807 687 64 tax tax NOUN taxlaw-2807 687 65 treatment treatment NOUN taxlaw-2807 687 66 to to ADP taxlaw-2807 687 67 personal personal ADJ taxlaw-2807 687 68 assets asset NOUN taxlaw-2807 687 69 is be AUX taxlaw-2807 687 70 the the DET taxlaw-2807 687 71 best good ADJ taxlaw-2807 687 72 way way NOUN taxlaw-2807 687 73 to to PART taxlaw-2807 687 74 promote promote VERB taxlaw-2807 687 75 income income NOUN taxlaw-2807 687 76 tax tax NOUN taxlaw-2807 687 77 progressivity progressivity NOUN taxlaw-2807 687 78 . . PUNCT taxlaw-2807 688 1 this this DET taxlaw-2807 688 2 criticism criticism NOUN taxlaw-2807 688 3 would would AUX taxlaw-2807 688 4 stress stress VERB taxlaw-2807 688 5 that that SCONJ taxlaw-2807 688 6 there there PRON taxlaw-2807 688 7 are be VERB taxlaw-2807 688 8 other other ADJ taxlaw-2807 688 9 , , PUNCT taxlaw-2807 688 10 potentially potentially ADV taxlaw-2807 688 11 more more ADV taxlaw-2807 688 12 accurate accurate ADJ taxlaw-2807 688 13 ways way NOUN taxlaw-2807 688 14 to to PART taxlaw-2807 688 15 assure assure VERB taxlaw-2807 688 16 that that SCONJ taxlaw-2807 688 17 the the DET taxlaw-2807 688 18 income income NOUN taxlaw-2807 688 19 tax tax NOUN taxlaw-2807 688 20 regime regime NOUN taxlaw-2807 688 21 has have VERB taxlaw-2807 688 22 an an DET taxlaw-2807 688 23 overall overall ADJ taxlaw-2807 688 24 progressive progressive ADJ taxlaw-2807 688 25 effect effect NOUN taxlaw-2807 688 26 . . PUNCT taxlaw-2807 689 1 one one NUM taxlaw-2807 689 2 of of ADP taxlaw-2807 689 3 the the DET taxlaw-2807 689 4 biggest big ADJ taxlaw-2807 689 5 concerns concern NOUN taxlaw-2807 689 6 is be AUX taxlaw-2807 689 7 that that SCONJ taxlaw-2807 689 8 giving give VERB taxlaw-2807 689 9 a a DET taxlaw-2807 689 10 special special ADJ taxlaw-2807 689 11 realization realization NOUN taxlaw-2807 689 12 treatment treatment NOUN taxlaw-2807 689 13 to to ADP taxlaw-2807 689 14 personal personal ADJ taxlaw-2807 689 15 assets asset NOUN taxlaw-2807 689 16 , , PUNCT taxlaw-2807 689 17 such such ADJ taxlaw-2807 689 18 as as ADP taxlaw-2807 689 19 family family NOUN taxlaw-2807 689 20 farms farm NOUN taxlaw-2807 689 21 and and CCONJ taxlaw-2807 689 22 closely closely ADV taxlaw-2807 689 23 held hold VERB taxlaw-2807 689 24 family family NOUN taxlaw-2807 689 25 corporations corporation NOUN taxlaw-2807 689 26 , , PUNCT taxlaw-2807 689 27 would would AUX taxlaw-2807 689 28 encourage encourage VERB taxlaw-2807 689 29 taxpayers taxpayer NOUN taxlaw-2807 689 30 to to PART taxlaw-2807 689 31 overinvest overinvest VERB taxlaw-2807 689 32 in in ADP taxlaw-2807 689 33 them they PRON taxlaw-2807 689 34 . . PUNCT taxlaw-2807 690 1 the the DET taxlaw-2807 690 2 brief brief ADJ taxlaw-2807 690 3 reply reply NOUN taxlaw-2807 690 4 is be AUX taxlaw-2807 690 5 that that SCONJ taxlaw-2807 690 6 policymakers policymaker NOUN taxlaw-2807 690 7 should should AUX taxlaw-2807 690 8 not not PART taxlaw-2807 690 9 be be AUX taxlaw-2807 690 10 asking ask VERB taxlaw-2807 690 11 whether whether SCONJ taxlaw-2807 690 12 providing provide VERB taxlaw-2807 690 13 realization realization NOUN taxlaw-2807 690 14 tax tax NOUN taxlaw-2807 690 15 treatment treatment NOUN taxlaw-2807 690 16 to to ADP taxlaw-2807 690 17 personal personal ADJ taxlaw-2807 690 18 assets asset NOUN taxlaw-2807 690 19 would would AUX taxlaw-2807 690 20 be be AUX taxlaw-2807 690 21 the the DET taxlaw-2807 690 22 perfect perfect ADJ taxlaw-2807 690 23 way way NOUN taxlaw-2807 690 24 to to PART taxlaw-2807 690 25 promote promote VERB taxlaw-2807 690 26 tax tax NOUN taxlaw-2807 690 27 progressivity progressivity NOUN taxlaw-2807 690 28 . . PUNCT taxlaw-2807 691 1 instead instead ADV taxlaw-2807 691 2 , , PUNCT taxlaw-2807 691 3 the the DET taxlaw-2807 691 4 key key ADJ taxlaw-2807 691 5 inquiry inquiry NOUN taxlaw-2807 691 6 is be AUX taxlaw-2807 691 7 what what PRON taxlaw-2807 691 8 course course NOUN taxlaw-2807 691 9 of of ADP taxlaw-2807 691 10 action action NOUN taxlaw-2807 691 11 policymakers policymaker NOUN taxlaw-2807 691 12 should should AUX taxlaw-2807 691 13 take take VERB taxlaw-2807 691 14 given give VERB taxlaw-2807 691 15 the the DET taxlaw-2807 691 16 normative normative ADJ taxlaw-2807 691 17 difficulty difficulty NOUN taxlaw-2807 691 18 of of ADP taxlaw-2807 691 19 drawing draw VERB taxlaw-2807 691 20 interpersonal interpersonal ADJ taxlaw-2807 691 21 comparisons comparison NOUN taxlaw-2807 691 22 with with ADP taxlaw-2807 691 23 respect respect NOUN taxlaw-2807 691 24 to to ADP taxlaw-2807 691 25 the the DET taxlaw-2807 691 26 market market NOUN taxlaw-2807 691 27 price price NOUN taxlaw-2807 691 28 of of ADP taxlaw-2807 691 29 personal personal ADJ taxlaw-2807 691 30 assets.164 assets.164 NOUN taxlaw-2807 691 31 the the PRON taxlaw-2807 691 32 more more ADV taxlaw-2807 691 33 difficult difficult ADJ taxlaw-2807 691 34 it it PRON taxlaw-2807 691 35 becomes become VERB taxlaw-2807 691 36 to to PART taxlaw-2807 691 37 observe observe VERB taxlaw-2807 691 38 what what PRON taxlaw-2807 691 39 we we PRON taxlaw-2807 691 40 are be AUX taxlaw-2807 691 41 trying try VERB taxlaw-2807 691 42 to to PART taxlaw-2807 691 43 distribute distribute VERB taxlaw-2807 691 44 , , PUNCT taxlaw-2807 691 45 the the DET taxlaw-2807 691 46 more more ADV taxlaw-2807 691 47 inaccurate inaccurate ADJ taxlaw-2807 691 48 and and CCONJ taxlaw-2807 691 49 susceptible susceptible ADJ taxlaw-2807 691 50 to to ADP taxlaw-2807 691 51 abuse abuse NOUN taxlaw-2807 691 52 and and CCONJ taxlaw-2807 691 53 the the DET taxlaw-2807 691 54 less less ADV taxlaw-2807 691 55 redistributive redistributive ADJ taxlaw-2807 691 56 the the DET taxlaw-2807 691 57 tax tax NOUN taxlaw-2807 691 58 regime regime NOUN taxlaw-2807 691 59 becomes become VERB taxlaw-2807 691 60 . . PUNCT taxlaw-2807 692 1 even even ADV taxlaw-2807 692 2 if if SCONJ taxlaw-2807 692 3 policymakers policymaker NOUN taxlaw-2807 692 4 can can AUX taxlaw-2807 692 5 observe observe VERB taxlaw-2807 692 6 the the DET taxlaw-2807 692 7 market market NOUN taxlaw-2807 692 8 price price NOUN taxlaw-2807 692 9 of of ADP taxlaw-2807 692 10 personal personal ADJ taxlaw-2807 692 11 assets asset NOUN taxlaw-2807 692 12 , , PUNCT taxlaw-2807 692 13 there there PRON taxlaw-2807 692 14 would would AUX taxlaw-2807 692 15 be be AUX taxlaw-2807 692 16 questions question NOUN taxlaw-2807 692 17 of of ADP taxlaw-2807 692 18 how how SCONJ taxlaw-2807 692 19 much much ADJ taxlaw-2807 692 20 it it PRON taxlaw-2807 692 21 could could AUX taxlaw-2807 692 22 help help VERB taxlaw-2807 692 23 them they PRON taxlaw-2807 692 24 to to PART taxlaw-2807 692 25 promote promote VERB taxlaw-2807 692 26 redistribution redistribution NOUN taxlaw-2807 692 27 . . PUNCT taxlaw-2807 693 1 the the DET taxlaw-2807 693 2 high high ADJ taxlaw-2807 693 3 probability probability NOUN taxlaw-2807 693 4 that that SCONJ taxlaw-2807 693 5 taxpayers taxpayer NOUN taxlaw-2807 693 6 attribute attribute VERB taxlaw-2807 693 7 higher higher ADV taxlaw-2807 693 8 , , PUNCT taxlaw-2807 693 9 yet yet CCONJ taxlaw-2807 693 10 heterogeneous heterogeneous ADJ taxlaw-2807 693 11 , , PUNCT taxlaw-2807 693 12 subjective subjective ADJ taxlaw-2807 693 13 values value NOUN taxlaw-2807 693 14 to to ADP taxlaw-2807 693 15 personal personal ADJ taxlaw-2807 693 16 assets asset NOUN taxlaw-2807 693 17 raises raise VERB taxlaw-2807 693 18 questions question NOUN taxlaw-2807 693 19 of of ADP taxlaw-2807 693 20 whether whether SCONJ taxlaw-2807 693 21 and and CCONJ taxlaw-2807 693 22 how how SCONJ taxlaw-2807 693 23 the the DET taxlaw-2807 693 24 market market NOUN taxlaw-2807 693 25 price price NOUN taxlaw-2807 693 26 signal signal NOUN taxlaw-2807 693 27 of of ADP taxlaw-2807 693 28 personal personal ADJ taxlaw-2807 693 29 assets asset NOUN taxlaw-2807 693 30 should should AUX taxlaw-2807 693 31 be be AUX taxlaw-2807 693 32 used use VERB taxlaw-2807 693 33 for for ADP taxlaw-2807 693 34 redistributive redistributive ADJ taxlaw-2807 693 35 tax tax NOUN taxlaw-2807 693 36 purposes purpose NOUN taxlaw-2807 693 37 . . PUNCT taxlaw-2807 694 1 in in ADP taxlaw-2807 694 2 the the DET taxlaw-2807 694 3 context context NOUN taxlaw-2807 694 4 of of ADP taxlaw-2807 694 5 our our PRON taxlaw-2807 694 6 argument argument NOUN taxlaw-2807 694 7 , , PUNCT taxlaw-2807 694 8 policymakers policymaker NOUN taxlaw-2807 694 9 who who PRON taxlaw-2807 694 10 want want VERB taxlaw-2807 694 11 to to PART taxlaw-2807 694 12 use use VERB taxlaw-2807 694 13 the the DET taxlaw-2807 694 14 tax tax NOUN taxlaw-2807 694 15 regime regime NOUN taxlaw-2807 694 16 to to PART taxlaw-2807 694 17 redistribute redistribute VERB taxlaw-2807 694 18 wealth wealth NOUN taxlaw-2807 694 19 and and CCONJ taxlaw-2807 694 20 have have VERB taxlaw-2807 694 21 only only ADV taxlaw-2807 694 22 the the DET taxlaw-2807 694 23 market market NOUN taxlaw-2807 694 24 price price NOUN taxlaw-2807 694 25 of of ADP taxlaw-2807 694 26 assets asset NOUN taxlaw-2807 694 27 to to PART taxlaw-2807 694 28 do do VERB taxlaw-2807 694 29 so so ADV taxlaw-2807 694 30 face face VERB taxlaw-2807 694 31 four four NUM taxlaw-2807 694 32 alternatives.165 alternatives.165 ADJ taxlaw-2807 694 33 one one NUM taxlaw-2807 694 34 is be AUX taxlaw-2807 694 35 to to PART taxlaw-2807 694 36 maintain maintain VERB taxlaw-2807 694 37 the the DET taxlaw-2807 694 38 current current ADJ taxlaw-2807 694 39 realization realization NOUN taxlaw-2807 694 40 - - PUNCT taxlaw-2807 694 41 based base VERB taxlaw-2807 694 42 income income NOUN taxlaw-2807 694 43 tax tax NOUN taxlaw-2807 694 44 regime regime NOUN taxlaw-2807 694 45 and and CCONJ taxlaw-2807 694 46 endure endure VERB taxlaw-2807 694 47 the the DET taxlaw-2807 694 48 enormous enormous ADJ taxlaw-2807 694 49 social social ADJ taxlaw-2807 694 50 costs cost NOUN taxlaw-2807 694 51 associated associate VERB taxlaw-2807 694 52 with with ADP taxlaw-2807 694 53 taxing tax VERB taxlaw-2807 694 54 all all DET taxlaw-2807 694 55 assets asset NOUN taxlaw-2807 694 56 on on ADP taxlaw-2807 694 57 a a DET taxlaw-2807 694 58 realization realization NOUN taxlaw-2807 694 59 basis.166 basis.166 VERB taxlaw-2807 694 60 the the DET taxlaw-2807 694 61 second second ADJ taxlaw-2807 694 62 alternative alternative NOUN taxlaw-2807 694 63 is be AUX taxlaw-2807 694 64 to to PART taxlaw-2807 694 65 tax tax VERB taxlaw-2807 694 66 all all DET taxlaw-2807 694 67 assets asset NOUN taxlaw-2807 694 68 on on ADP taxlaw-2807 694 69 a a DET taxlaw-2807 694 70 mark mark NOUN taxlaw-2807 694 71 - - PUNCT taxlaw-2807 694 72 to to ADP taxlaw-2807 694 73 - - PUNCT taxlaw-2807 694 74 market market NOUN taxlaw-2807 694 75 basis basis NOUN taxlaw-2807 694 76 — — PUNCT taxlaw-2807 694 77 thus thus ADV taxlaw-2807 694 78 paying pay VERB taxlaw-2807 694 79 the the DET taxlaw-2807 694 80 costs cost NOUN taxlaw-2807 694 81 of of ADP taxlaw-2807 694 82 inaccuracy inaccuracy NOUN taxlaw-2807 694 83 and and CCONJ taxlaw-2807 694 84 perhaps perhaps ADV taxlaw-2807 694 85 regressivity regressivity NOUN taxlaw-2807 694 86 of of ADP taxlaw-2807 694 87 taxing tax VERB taxlaw-2807 694 88 personal personal ADJ taxlaw-2807 694 89 assets asset NOUN taxlaw-2807 694 90 based base VERB taxlaw-2807 694 91 on on ADP taxlaw-2807 694 92 their their PRON taxlaw-2807 694 93 market market NOUN taxlaw-2807 694 94 value value NOUN taxlaw-2807 694 95 . . PUNCT taxlaw-2807 695 1 the the DET taxlaw-2807 695 2 third third ADJ taxlaw-2807 695 3 alternative alternative NOUN taxlaw-2807 695 4 would would AUX taxlaw-2807 695 5 be be AUX taxlaw-2807 695 6 to to PART taxlaw-2807 695 7 limit limit VERB taxlaw-2807 695 8 taxation taxation NOUN taxlaw-2807 695 9 to to ADP taxlaw-2807 695 10 observable observable ADJ taxlaw-2807 695 11 assets asset NOUN taxlaw-2807 695 12 , , PUNCT taxlaw-2807 695 13 to to PART taxlaw-2807 695 14 exempt exempt VERB taxlaw-2807 695 15 personal personal ADJ taxlaw-2807 695 16 assets asset NOUN taxlaw-2807 695 17 altogether altogether ADV taxlaw-2807 695 18 , , PUNCT taxlaw-2807 695 19 or or CCONJ taxlaw-2807 695 20 to to PART taxlaw-2807 695 21 shift shift VERB taxlaw-2807 695 22 to to ADP taxlaw-2807 695 23 a a DET taxlaw-2807 695 24 more more ADV taxlaw-2807 695 25 easily easily ADV taxlaw-2807 695 26 observed observe VERB taxlaw-2807 695 27 tax tax NOUN taxlaw-2807 695 28 base base NOUN taxlaw-2807 695 29 — — PUNCT taxlaw-2807 695 30 e.g. e.g. ADV taxlaw-2807 695 31 , , PUNCT taxlaw-2807 695 32 160 160 NUM taxlaw-2807 695 33 see see VERB taxlaw-2807 695 34 sugin sugin NOUN taxlaw-2807 695 35 , , PUNCT taxlaw-2807 695 36 supra supra PROPN taxlaw-2807 695 37 note note PROPN taxlaw-2807 695 38 64 64 NUM taxlaw-2807 695 39 , , PUNCT taxlaw-2807 695 40 at at ADP taxlaw-2807 695 41 2014 2014 NUM taxlaw-2807 695 42 161 161 NUM taxlaw-2807 695 43 see see NOUN taxlaw-2807 695 44 kamin kamin PROPN taxlaw-2807 695 45 , , PUNCT taxlaw-2807 695 46 supra supra PROPN taxlaw-2807 695 47 note note PROPN taxlaw-2807 695 48 47 47 NUM taxlaw-2807 695 49 , , PUNCT taxlaw-2807 695 50 at at ADP taxlaw-2807 695 51 253 253 NUM taxlaw-2807 695 52 . . PUNCT taxlaw-2807 696 1 162 162 NUM taxlaw-2807 696 2 see see VERB taxlaw-2807 696 3 michael michael PROPN taxlaw-2807 696 4 j. j. PROPN taxlaw-2807 696 5 graetz graetz PROPN taxlaw-2807 696 6 , , PUNCT taxlaw-2807 696 7 taxes taxis NOUN taxlaw-2807 696 8 that that PRON taxlaw-2807 696 9 work work VERB taxlaw-2807 696 10 : : PUNCT taxlaw-2807 696 11 a a DET taxlaw-2807 696 12 simple simple ADJ taxlaw-2807 696 13 american american ADJ taxlaw-2807 696 14 plan plan NOUN taxlaw-2807 696 15 , , PUNCT taxlaw-2807 696 16 58 58 NUM taxlaw-2807 696 17 fla fla NOUN taxlaw-2807 696 18 . . PUNCT taxlaw-2807 697 1 l. l. PROPN taxlaw-2807 697 2 rev rev PROPN taxlaw-2807 697 3 . . PROPN taxlaw-2807 697 4 1043 1043 NUM taxlaw-2807 697 5 , , PUNCT taxlaw-2807 697 6 1048 1048 NUM taxlaw-2807 697 7 – – PUNCT taxlaw-2807 697 8 52 52 NUM taxlaw-2807 697 9 ( ( PUNCT taxlaw-2807 697 10 2006 2006 NUM taxlaw-2807 697 11 ) ) PUNCT taxlaw-2807 697 12 . . PUNCT taxlaw-2807 698 1 163 163 NUM taxlaw-2807 698 2 see see VERB taxlaw-2807 698 3 supra supra PROPN taxlaw-2807 698 4 note note PROPN taxlaw-2807 698 5 153 153 NUM taxlaw-2807 698 6 . . PUNCT taxlaw-2807 699 1 see see VERB taxlaw-2807 699 2 also also ADV taxlaw-2807 699 3 infra infra VERB taxlaw-2807 699 4 notes note NOUN taxlaw-2807 699 5 173–175 173–175 NUM taxlaw-2807 699 6 and and CCONJ taxlaw-2807 699 7 accompanying accompany VERB taxlaw-2807 699 8 text text NOUN taxlaw-2807 699 9 . . PUNCT taxlaw-2807 700 1 164 164 NUM taxlaw-2807 700 2 this this DET taxlaw-2807 700 3 dilemma dilemma NOUN taxlaw-2807 700 4 is be AUX taxlaw-2807 700 5 an an DET taxlaw-2807 700 6 extension extension NOUN taxlaw-2807 700 7 of of ADP taxlaw-2807 700 8 a a DET taxlaw-2807 700 9 more more ADV taxlaw-2807 700 10 general general ADJ taxlaw-2807 700 11 tradeoff tradeoff NOUN taxlaw-2807 700 12 that that PRON taxlaw-2807 700 13 was be AUX taxlaw-2807 700 14 identified identify VERB taxlaw-2807 700 15 by by ADP taxlaw-2807 700 16 joel joel PROPN taxlaw-2807 700 17 slemrod slemrod PROPN taxlaw-2807 700 18 and and CCONJ taxlaw-2807 700 19 christian christian ADJ taxlaw-2807 700 20 traxler traxler NOUN taxlaw-2807 700 21 . . PUNCT taxlaw-2807 701 1 joel joel PROPN taxlaw-2807 701 2 b. b. PROPN taxlaw-2807 701 3 slemrod slemrod PROPN taxlaw-2807 701 4 & & CCONJ taxlaw-2807 701 5 christian christian PROPN taxlaw-2807 701 6 traxler traxler NOUN taxlaw-2807 701 7 , , PUNCT taxlaw-2807 701 8 optimal optimal ADJ taxlaw-2807 701 9 observability observability NOUN taxlaw-2807 701 10 in in ADP taxlaw-2807 701 11 a a DET taxlaw-2807 701 12 linear linear ADJ taxlaw-2807 701 13 income income NOUN taxlaw-2807 701 14 tax tax NOUN taxlaw-2807 701 15 , , PUNCT taxlaw-2807 701 16 social social ADJ taxlaw-2807 701 17 science science NOUN taxlaw-2807 701 18 research research NOUN taxlaw-2807 701 19 network network NOUN taxlaw-2807 701 20 8 8 NUM taxlaw-2807 701 21 ( ( PUNCT taxlaw-2807 701 22 dec dec PROPN taxlaw-2807 701 23 . . PROPN taxlaw-2807 701 24 2010 2010 NUM taxlaw-2807 701 25 ) ) PUNCT taxlaw-2807 701 26 , , PUNCT taxlaw-2807 701 27 http://ssrn.com/paper=1534586 http://ssrn.com/paper=1534586 PROPN taxlaw-2807 701 28 . . NOUN taxlaw-2807 701 29 165 165 NUM taxlaw-2807 701 30 there there PRON taxlaw-2807 701 31 are be VERB taxlaw-2807 701 32 of of ADP taxlaw-2807 701 33 course course NOUN taxlaw-2807 701 34 numerous numerous ADJ taxlaw-2807 701 35 other other ADJ taxlaw-2807 701 36 options option NOUN taxlaw-2807 701 37 if if SCONJ taxlaw-2807 701 38 policymakers policymaker NOUN taxlaw-2807 701 39 are be AUX taxlaw-2807 701 40 willing willing ADJ taxlaw-2807 701 41 to to PART taxlaw-2807 701 42 rely rely VERB taxlaw-2807 701 43 on on ADP taxlaw-2807 701 44 factors factor NOUN taxlaw-2807 701 45 other other ADJ taxlaw-2807 701 46 than than ADP taxlaw-2807 701 47 the the DET taxlaw-2807 701 48 market market NOUN taxlaw-2807 701 49 price price NOUN taxlaw-2807 701 50 . . PUNCT taxlaw-2807 702 1 for for ADP taxlaw-2807 702 2 a a DET taxlaw-2807 702 3 thorough thorough ADJ taxlaw-2807 702 4 discussion discussion NOUN taxlaw-2807 702 5 of of ADP taxlaw-2807 702 6 this this DET taxlaw-2807 702 7 topic topic NOUN taxlaw-2807 702 8 , , PUNCT taxlaw-2807 702 9 see see VERB taxlaw-2807 702 10 infra infra NOUN taxlaw-2807 702 11 note note VERB taxlaw-2807 702 12 214 214 NUM taxlaw-2807 702 13 and and CCONJ taxlaw-2807 702 14 accompanying accompany VERB taxlaw-2807 702 15 text text NOUN taxlaw-2807 702 16 . . PUNCT taxlaw-2807 703 1 166 166 NUM taxlaw-2807 703 2 see see VERB taxlaw-2807 703 3 supra supra PROPN taxlaw-2807 703 4 part part PROPN taxlaw-2807 703 5 i.a i.a PROPN taxlaw-2807 703 6 . . PROPN taxlaw-2807 703 7 2011 2011 NUM taxlaw-2807 703 8 ] ] PUNCT taxlaw-2807 703 9 realization realization NOUN taxlaw-2807 703 10 and and CCONJ taxlaw-2807 703 11 progressivity progressivity NOUN taxlaw-2807 703 12 75 75 NUM taxlaw-2807 703 13 wages wage NOUN taxlaw-2807 703 14 or or CCONJ taxlaw-2807 703 15 consumption.167 consumption.167 ADJ taxlaw-2807 703 16 this this PRON taxlaw-2807 703 17 , , PUNCT taxlaw-2807 703 18 however however ADV taxlaw-2807 703 19 , , PUNCT taxlaw-2807 703 20 would would AUX taxlaw-2807 703 21 narrow narrow VERB taxlaw-2807 703 22 the the DET taxlaw-2807 703 23 tax tax NOUN taxlaw-2807 703 24 base base NOUN taxlaw-2807 703 25 and and CCONJ taxlaw-2807 703 26 require require VERB taxlaw-2807 703 27 very very ADV taxlaw-2807 703 28 high high ADJ taxlaw-2807 703 29 marginal marginal ADJ taxlaw-2807 703 30 tax tax NOUN taxlaw-2807 703 31 rates rate NOUN taxlaw-2807 703 32 to to PART taxlaw-2807 703 33 attain attain VERB taxlaw-2807 703 34 redistribution.168 redistribution.168 NOUN taxlaw-2807 703 35 the the DET taxlaw-2807 703 36 fourth fourth ADJ taxlaw-2807 703 37 alternative alternative NOUN taxlaw-2807 703 38 , , PUNCT taxlaw-2807 703 39 which which PRON taxlaw-2807 703 40 this this DET taxlaw-2807 703 41 subpart subpart NOUN taxlaw-2807 703 42 explores explore NOUN taxlaw-2807 703 43 , , PUNCT taxlaw-2807 703 44 is be AUX taxlaw-2807 703 45 to to PART taxlaw-2807 703 46 provide provide VERB taxlaw-2807 703 47 realization realization NOUN taxlaw-2807 703 48 - - PUNCT taxlaw-2807 703 49 based base VERB taxlaw-2807 703 50 tax tax NOUN taxlaw-2807 703 51 treatment treatment NOUN taxlaw-2807 703 52 only only ADV taxlaw-2807 703 53 to to ADP taxlaw-2807 703 54 those those DET taxlaw-2807 703 55 ( ( PUNCT taxlaw-2807 703 56 personal personal ADJ taxlaw-2807 703 57 ) ) PUNCT taxlaw-2807 703 58 assets asset NOUN taxlaw-2807 703 59 that that PRON taxlaw-2807 703 60 are be AUX taxlaw-2807 703 61 difficult difficult ADJ taxlaw-2807 703 62 to to PART taxlaw-2807 703 63 tax tax VERB taxlaw-2807 703 64 on on ADP taxlaw-2807 703 65 a a DET taxlaw-2807 703 66 mark mark NOUN taxlaw-2807 703 67 - - PUNCT taxlaw-2807 703 68 to to ADP taxlaw-2807 703 69 - - PUNCT taxlaw-2807 703 70 market market NOUN taxlaw-2807 703 71 basis basis NOUN taxlaw-2807 703 72 . . PUNCT taxlaw-2807 704 1 as as SCONJ taxlaw-2807 704 2 established establish VERB taxlaw-2807 704 3 , , PUNCT taxlaw-2807 704 4 if if SCONJ taxlaw-2807 704 5 the the DET taxlaw-2807 704 6 realization realization NOUN taxlaw-2807 704 7 requirement requirement NOUN taxlaw-2807 704 8 were be AUX taxlaw-2807 704 9 applied apply VERB taxlaw-2807 704 10 only only ADV taxlaw-2807 704 11 to to ADP taxlaw-2807 704 12 personal personal ADJ taxlaw-2807 704 13 assets asset NOUN taxlaw-2807 704 14 , , PUNCT taxlaw-2807 704 15 the the DET taxlaw-2807 704 16 tax tax NOUN taxlaw-2807 704 17 base base NOUN taxlaw-2807 704 18 would would AUX taxlaw-2807 704 19 become become VERB taxlaw-2807 704 20 more more ADV taxlaw-2807 704 21 progressive progressive ADJ taxlaw-2807 704 22 overall overall ADV taxlaw-2807 704 23 . . PUNCT taxlaw-2807 705 1 we we PRON taxlaw-2807 705 2 concede concede VERB taxlaw-2807 705 3 that that SCONJ taxlaw-2807 705 4 this this DET taxlaw-2807 705 5 method method NOUN taxlaw-2807 705 6 of of ADP taxlaw-2807 705 7 attaining attain VERB taxlaw-2807 705 8 progressivity progressivity NOUN taxlaw-2807 705 9 raises raise VERB taxlaw-2807 705 10 some some DET taxlaw-2807 705 11 concerns concern NOUN taxlaw-2807 705 12 . . PUNCT taxlaw-2807 706 1 in in ADP taxlaw-2807 706 2 its its PRON taxlaw-2807 706 3 crude crude ADJ taxlaw-2807 706 4 form form NOUN taxlaw-2807 706 5 , , PUNCT taxlaw-2807 706 6 the the DET taxlaw-2807 706 7 realization realization NOUN taxlaw-2807 706 8 requirement requirement NOUN taxlaw-2807 706 9 is be AUX taxlaw-2807 706 10 not not PART taxlaw-2807 706 11 sensitive sensitive ADJ taxlaw-2807 706 12 to to ADP taxlaw-2807 706 13 the the DET taxlaw-2807 706 14 amount amount NOUN taxlaw-2807 706 15 of of ADP taxlaw-2807 706 16 personal personal ADJ taxlaw-2807 706 17 assets asset NOUN taxlaw-2807 706 18 individuals individual NOUN taxlaw-2807 706 19 may may AUX taxlaw-2807 706 20 have have AUX taxlaw-2807 706 21 — — PUNCT taxlaw-2807 706 22 allowing allow VERB taxlaw-2807 706 23 the the DET taxlaw-2807 706 24 middle middle ADJ taxlaw-2807 706 25 class class NOUN taxlaw-2807 706 26 to to PART taxlaw-2807 706 27 relish relish VERB taxlaw-2807 706 28 the the DET taxlaw-2807 706 29 majority majority NOUN taxlaw-2807 706 30 of of ADP taxlaw-2807 706 31 the the DET taxlaw-2807 706 32 tax tax NOUN taxlaw-2807 706 33 benefit benefit NOUN taxlaw-2807 706 34 . . PUNCT taxlaw-2807 707 1 furthermore furthermore ADV taxlaw-2807 707 2 , , PUNCT taxlaw-2807 707 3 as as SCONJ taxlaw-2807 707 4 discussed discuss VERB taxlaw-2807 707 5 in in ADP taxlaw-2807 707 6 the the DET taxlaw-2807 707 7 next next ADJ taxlaw-2807 707 8 part part NOUN taxlaw-2807 707 9 , , PUNCT taxlaw-2807 707 10 it it PRON taxlaw-2807 707 11 would would AUX taxlaw-2807 707 12 create create VERB taxlaw-2807 707 13 incentives incentive NOUN taxlaw-2807 707 14 to to ADP taxlaw-2807 707 15 over over ADV taxlaw-2807 707 16 - - PUNCT taxlaw-2807 707 17 invest invest VERB taxlaw-2807 707 18 in in ADP taxlaw-2807 707 19 personal personal ADJ taxlaw-2807 707 20 assets asset NOUN taxlaw-2807 707 21 , , PUNCT taxlaw-2807 707 22 which which PRON taxlaw-2807 707 23 would would AUX taxlaw-2807 707 24 result result VERB taxlaw-2807 707 25 in in ADP taxlaw-2807 707 26 tax tax NOUN taxlaw-2807 707 27 - - PUNCT taxlaw-2807 707 28 avoidance avoidance NOUN taxlaw-2807 707 29 opportunities opportunity NOUN taxlaw-2807 707 30 and and CCONJ taxlaw-2807 707 31 complex complex ADJ taxlaw-2807 707 32 administrative administrative ADJ taxlaw-2807 707 33 countermeasures countermeasure NOUN taxlaw-2807 707 34 . . PUNCT taxlaw-2807 708 1 most most ADV taxlaw-2807 708 2 importantly importantly ADV taxlaw-2807 708 3 , , PUNCT taxlaw-2807 708 4 by by ADP taxlaw-2807 708 5 adopting adopt VERB taxlaw-2807 708 6 realization realization NOUN taxlaw-2807 708 7 as as ADP taxlaw-2807 708 8 a a DET taxlaw-2807 708 9 way way NOUN taxlaw-2807 708 10 to to PART taxlaw-2807 708 11 promote promote VERB taxlaw-2807 708 12 progressivity progressivity NOUN taxlaw-2807 708 13 , , PUNCT taxlaw-2807 708 14 this this DET taxlaw-2807 708 15 article article NOUN taxlaw-2807 708 16 ’s ’s PART taxlaw-2807 708 17 proposal proposal NOUN taxlaw-2807 708 18 inevitably inevitably ADV taxlaw-2807 708 19 accepts accept VERB taxlaw-2807 708 20 some some PRON taxlaw-2807 708 21 of of ADP taxlaw-2807 708 22 its its PRON taxlaw-2807 708 23 inherent inherent ADJ taxlaw-2807 708 24 timing timing NOUN taxlaw-2807 708 25 arbitrariness arbitrariness NOUN taxlaw-2807 708 26 . . PUNCT taxlaw-2807 709 1 given give VERB taxlaw-2807 709 2 these these DET taxlaw-2807 709 3 difficulties difficulty NOUN taxlaw-2807 709 4 , , PUNCT taxlaw-2807 709 5 it it PRON taxlaw-2807 709 6 is be AUX taxlaw-2807 709 7 important important ADJ taxlaw-2807 709 8 to to PART taxlaw-2807 709 9 examine examine VERB taxlaw-2807 709 10 whether whether SCONJ taxlaw-2807 709 11 higher high ADJ taxlaw-2807 709 12 personal personal ADJ taxlaw-2807 709 13 exemptions exemption NOUN taxlaw-2807 709 14 or or CCONJ taxlaw-2807 709 15 higher high ADJ taxlaw-2807 709 16 marginal marginal ADJ taxlaw-2807 709 17 tax tax NOUN taxlaw-2807 709 18 rates rate NOUN taxlaw-2807 709 19 can can AUX taxlaw-2807 709 20 ( ( PUNCT taxlaw-2807 709 21 by by ADP taxlaw-2807 709 22 themselves themselves PRON taxlaw-2807 709 23 ) ) PUNCT taxlaw-2807 709 24 better well ADV taxlaw-2807 709 25 achieve achieve VERB taxlaw-2807 709 26 income income NOUN taxlaw-2807 709 27 tax tax NOUN taxlaw-2807 709 28 progressivity progressivity NOUN taxlaw-2807 709 29 . . PUNCT taxlaw-2807 710 1 policymakers policymaker NOUN taxlaw-2807 710 2 should should AUX taxlaw-2807 710 3 therefore therefore ADV taxlaw-2807 710 4 compare compare VERB taxlaw-2807 710 5 our our PRON taxlaw-2807 710 6 proposal proposal NOUN taxlaw-2807 710 7 with with ADP taxlaw-2807 710 8 a a DET taxlaw-2807 710 9 universal universal ADJ taxlaw-2807 710 10 mark mark NOUN taxlaw-2807 710 11 - - PUNCT taxlaw-2807 710 12 to to ADP taxlaw-2807 710 13 - - PUNCT taxlaw-2807 710 14 market market NOUN taxlaw-2807 710 15 regime regime NOUN taxlaw-2807 710 16 , , PUNCT taxlaw-2807 710 17 which which PRON taxlaw-2807 710 18 attains attain VERB taxlaw-2807 710 19 progressivity progressivity NOUN taxlaw-2807 710 20 by by ADP taxlaw-2807 710 21 adjusting adjust VERB taxlaw-2807 710 22 the the DET taxlaw-2807 710 23 tax tax NOUN taxlaw-2807 710 24 rate rate NOUN taxlaw-2807 710 25 and and CCONJ taxlaw-2807 710 26 level level NOUN taxlaw-2807 710 27 of of ADP taxlaw-2807 710 28 personal personal ADJ taxlaw-2807 710 29 exemptions exemption NOUN taxlaw-2807 710 30 rather rather ADV taxlaw-2807 710 31 than than ADP taxlaw-2807 710 32 by by ADP taxlaw-2807 710 33 providing provide VERB taxlaw-2807 710 34 realization realization NOUN taxlaw-2807 710 35 treatment treatment NOUN taxlaw-2807 710 36 to to ADP taxlaw-2807 710 37 personal personal ADJ taxlaw-2807 710 38 assets asset NOUN taxlaw-2807 710 39 . . PUNCT taxlaw-2807 711 1 tax tax NOUN taxlaw-2807 711 2 progressivity progressivity NOUN taxlaw-2807 711 3 is be AUX taxlaw-2807 711 4 typically typically ADV taxlaw-2807 711 5 associated associate VERB taxlaw-2807 711 6 with with ADP taxlaw-2807 711 7 the the DET taxlaw-2807 711 8 progressive progressive ADJ taxlaw-2807 711 9 tax tax NOUN taxlaw-2807 711 10 rate rate NOUN taxlaw-2807 711 11 structure structure NOUN taxlaw-2807 711 12 rather rather ADV taxlaw-2807 711 13 than than ADP taxlaw-2807 711 14 with with ADP taxlaw-2807 711 15 the the DET taxlaw-2807 711 16 progressivity progressivity NOUN taxlaw-2807 711 17 of of ADP taxlaw-2807 711 18 the the DET taxlaw-2807 711 19 tax tax NOUN taxlaw-2807 711 20 base.169 base.169 NOUN taxlaw-2807 711 21 in in ADP taxlaw-2807 711 22 fact fact NOUN taxlaw-2807 711 23 , , PUNCT taxlaw-2807 711 24 many many ADJ taxlaw-2807 711 25 of of ADP taxlaw-2807 711 26 the the DET taxlaw-2807 711 27 arguments argument NOUN taxlaw-2807 711 28 against against ADP taxlaw-2807 711 29 progressivity progressivity NOUN taxlaw-2807 711 30 relate relate VERB taxlaw-2807 711 31 to to ADP taxlaw-2807 711 32 the the DET taxlaw-2807 711 33 social social ADJ taxlaw-2807 711 34 costs cost NOUN taxlaw-2807 711 35 associated associate VERB taxlaw-2807 711 36 with with ADP taxlaw-2807 711 37 the the DET taxlaw-2807 711 38 progressive progressive ADJ taxlaw-2807 711 39 rate rate NOUN taxlaw-2807 711 40 structure structure NOUN taxlaw-2807 711 41 as as ADP taxlaw-2807 711 42 a a DET taxlaw-2807 711 43 method method NOUN taxlaw-2807 711 44 rather rather ADV taxlaw-2807 711 45 than than ADP taxlaw-2807 711 46 to to ADP taxlaw-2807 711 47 its its PRON taxlaw-2807 711 48 underlying underlie VERB taxlaw-2807 711 49 objective objective NOUN taxlaw-2807 711 50 of of ADP taxlaw-2807 711 51 promoting promote VERB taxlaw-2807 711 52 economic economic ADJ taxlaw-2807 711 53 equality.170 equality.170 NOUN taxlaw-2807 711 54 it it PRON taxlaw-2807 711 55 has have AUX taxlaw-2807 711 56 been be AUX taxlaw-2807 711 57 convincingly convincingly ADV taxlaw-2807 711 58 argued argue VERB taxlaw-2807 711 59 that that SCONJ taxlaw-2807 711 60 progressive progressive ADJ taxlaw-2807 711 61 tax tax NOUN taxlaw-2807 711 62 rate rate NOUN taxlaw-2807 711 63 structures structure NOUN taxlaw-2807 711 64 with with ADP taxlaw-2807 711 65 high high ADJ taxlaw-2807 711 66 marginal marginal ADJ taxlaw-2807 711 67 tax tax NOUN taxlaw-2807 711 68 rates rate NOUN taxlaw-2807 711 69 cause cause VERB taxlaw-2807 711 70 or or CCONJ taxlaw-2807 711 71 aggravate aggravate VERB taxlaw-2807 711 72 many many ADJ taxlaw-2807 711 73 of of ADP taxlaw-2807 711 74 the the DET taxlaw-2807 711 75 notorious notorious ADJ taxlaw-2807 711 76 income income NOUN taxlaw-2807 711 77 tax tax NOUN taxlaw-2807 711 78 complexities171 complexities171 PROPN taxlaw-2807 711 79 and and CCONJ taxlaw-2807 711 80 that that SCONJ taxlaw-2807 711 81 they they PRON taxlaw-2807 711 82 generate generate VERB taxlaw-2807 711 83 significant significant ADJ taxlaw-2807 711 84 work work NOUN taxlaw-2807 711 85 and and CCONJ taxlaw-2807 711 86 investment investment NOUN taxlaw-2807 711 87 disincentives.172 disincentives.172 NOUN taxlaw-2807 711 88 the the DET taxlaw-2807 711 89 actual actual ADJ taxlaw-2807 711 90 behavioral behavioral ADJ taxlaw-2807 711 91 impact impact NOUN taxlaw-2807 711 92 of of ADP taxlaw-2807 711 93 tax tax NOUN taxlaw-2807 711 94 rate rate NOUN taxlaw-2807 711 95 progressivity progressivity NOUN taxlaw-2807 711 96 has have AUX taxlaw-2807 711 97 been be AUX taxlaw-2807 711 98 disputed,173 disputed,173 PROPN taxlaw-2807 712 1 but but CCONJ taxlaw-2807 712 2 it it PRON taxlaw-2807 712 3 is be AUX taxlaw-2807 712 4 difficult difficult ADJ taxlaw-2807 712 5 to to PART taxlaw-2807 712 6 deny deny VERB taxlaw-2807 712 7 that that PRON taxlaw-2807 712 8 high high ADJ taxlaw-2807 712 9 progressive progressive ADJ taxlaw-2807 712 10 tax tax NOUN taxlaw-2807 712 11 rates rate NOUN taxlaw-2807 712 12 produce produce VERB taxlaw-2807 712 13 distortive distortive ADJ taxlaw-2807 712 14 incentives incentive NOUN taxlaw-2807 712 15 and and CCONJ taxlaw-2807 712 16 taxplanning taxplanne VERB taxlaw-2807 712 17 opportunities opportunity NOUN taxlaw-2807 712 18 . . PUNCT taxlaw-2807 713 1 it it PRON taxlaw-2807 713 2 is be AUX taxlaw-2807 713 3 therefore therefore ADV taxlaw-2807 713 4 widely widely ADV taxlaw-2807 713 5 accepted accept VERB taxlaw-2807 713 6 that that SCONJ taxlaw-2807 713 7 tax tax NOUN taxlaw-2807 713 8 rate rate NOUN taxlaw-2807 713 9 progressivity progressivity NOUN taxlaw-2807 713 10 ’s ’s PART taxlaw-2807 713 11 major major ADJ taxlaw-2807 713 12 drawback drawback NOUN taxlaw-2807 713 13 is be AUX taxlaw-2807 713 14 the the DET taxlaw-2807 713 15 unavoidable unavoidable ADJ taxlaw-2807 713 16 tradeoff tradeoff NOUN taxlaw-2807 713 17 between between ADP taxlaw-2807 713 18 allocating allocate VERB taxlaw-2807 713 19 the the DET taxlaw-2807 713 20 tax tax NOUN taxlaw-2807 713 21 burden burden NOUN taxlaw-2807 713 22 equitably equitably ADV taxlaw-2807 713 23 and and CCONJ taxlaw-2807 713 24 reducing reduce VERB taxlaw-2807 713 25 overall overall ADJ taxlaw-2807 713 26 social social ADJ taxlaw-2807 713 27 productivity productivity NOUN taxlaw-2807 713 28 . . PUNCT taxlaw-2807 714 1 174 174 NUM taxlaw-2807 714 2 the the DET taxlaw-2807 714 3 high high ADJ taxlaw-2807 714 4 social social ADJ taxlaw-2807 714 5 costs cost NOUN taxlaw-2807 714 6 of of ADP taxlaw-2807 714 7 attaining attain VERB taxlaw-2807 714 8 overall overall ADJ taxlaw-2807 714 9 progressivity progressivity NOUN taxlaw-2807 714 10 of of ADP taxlaw-2807 714 11 the the DET taxlaw-2807 714 12 tax tax NOUN taxlaw-2807 714 13 system system NOUN taxlaw-2807 714 14 through through ADP taxlaw-2807 714 15 high high ADJ taxlaw-2807 714 16 marginal marginal ADJ taxlaw-2807 714 17 tax tax NOUN taxlaw-2807 714 18 rates rate NOUN taxlaw-2807 714 19 suggest suggest VERB taxlaw-2807 714 20 that that SCONJ taxlaw-2807 714 21 policymakers policymaker NOUN taxlaw-2807 714 22 would would AUX taxlaw-2807 714 23 be be AUX taxlaw-2807 714 24 wise wise ADJ taxlaw-2807 714 25 to to PART taxlaw-2807 714 26 explore explore VERB taxlaw-2807 714 27 other other ADJ taxlaw-2807 714 28 means mean NOUN taxlaw-2807 714 29 of of ADP taxlaw-2807 714 30 achieving achieve VERB taxlaw-2807 714 31 this this DET taxlaw-2807 714 32 goal goal NOUN taxlaw-2807 714 33 . . PUNCT taxlaw-2807 715 1 in in ADP taxlaw-2807 715 2 the the DET taxlaw-2807 715 3 context context NOUN taxlaw-2807 715 4 of of ADP taxlaw-2807 715 5 this this DET taxlaw-2807 715 6 inquiry inquiry NOUN taxlaw-2807 715 7 , , PUNCT taxlaw-2807 715 8 tax tax NOUN taxlaw-2807 715 9 policy policy NOUN taxlaw-2807 715 10 analysis analysis NOUN taxlaw-2807 715 11 should should AUX taxlaw-2807 715 12 focus focus VERB taxlaw-2807 715 13 on on ADP taxlaw-2807 715 14 how how SCONJ taxlaw-2807 715 15 to to PART taxlaw-2807 715 16 make make VERB taxlaw-2807 715 17 the the DET taxlaw-2807 715 18 tax tax NOUN taxlaw-2807 715 19 base base NOUN taxlaw-2807 715 20 more more ADV taxlaw-2807 715 21 progressive progressive ADJ taxlaw-2807 715 22 . . PUNCT taxlaw-2807 716 1 a a DET taxlaw-2807 716 2 more more ADV taxlaw-2807 716 3 progressive progressive ADJ taxlaw-2807 716 4 base base NOUN taxlaw-2807 716 5 would would AUX taxlaw-2807 716 6 allow allow VERB taxlaw-2807 716 7 policymakers policymaker NOUN taxlaw-2807 716 8 to to PART taxlaw-2807 716 9 decrease decrease VERB taxlaw-2807 716 10 high high ADJ taxlaw-2807 716 11 marginal marginal ADJ taxlaw-2807 716 12 tax tax NOUN taxlaw-2807 716 13 rates rate NOUN taxlaw-2807 716 14 167 167 NUM taxlaw-2807 716 15 see see VERB taxlaw-2807 716 16 supra supra PROPN taxlaw-2807 716 17 notes note NOUN taxlaw-2807 716 18 107–110 107–110 NUM taxlaw-2807 716 19 and and CCONJ taxlaw-2807 716 20 accompanying accompany VERB taxlaw-2807 716 21 text text NOUN taxlaw-2807 716 22 . . PUNCT taxlaw-2807 717 1 168 168 NUM taxlaw-2807 717 2 see see VERB taxlaw-2807 717 3 supra supra PROPN taxlaw-2807 717 4 note note PROPN taxlaw-2807 717 5 153 153 NUM taxlaw-2807 717 6 and and CCONJ taxlaw-2807 717 7 accompanying accompanying ADJ taxlaw-2807 717 8 text text NOUN taxlaw-2807 717 9 . . PUNCT taxlaw-2807 718 1 169 169 NUM taxlaw-2807 718 2 see see VERB taxlaw-2807 718 3 graetz graetz PROPN taxlaw-2807 718 4 & & CCONJ taxlaw-2807 718 5 schenk schenk PROPN taxlaw-2807 718 6 , , PUNCT taxlaw-2807 718 7 supra supra PROPN taxlaw-2807 718 8 note note PROPN taxlaw-2807 718 9 1 1 NUM taxlaw-2807 718 10 , , PUNCT taxlaw-2807 718 11 at at ADP taxlaw-2807 718 12 34–35 34–35 NUM taxlaw-2807 718 13 ( ( PUNCT taxlaw-2807 718 14 providing provide VERB taxlaw-2807 718 15 an an DET taxlaw-2807 718 16 overview overview NOUN taxlaw-2807 718 17 the the DET taxlaw-2807 718 18 discussion discussion NOUN taxlaw-2807 718 19 of of ADP taxlaw-2807 718 20 why why SCONJ taxlaw-2807 718 21 a a DET taxlaw-2807 718 22 progressive progressive ADJ taxlaw-2807 718 23 tax tax NOUN taxlaw-2807 718 24 rate rate NOUN taxlaw-2807 718 25 structure structure NOUN taxlaw-2807 718 26 may may AUX taxlaw-2807 718 27 be be AUX taxlaw-2807 718 28 justified justify VERB taxlaw-2807 718 29 ) ) PUNCT taxlaw-2807 718 30 . . PUNCT taxlaw-2807 719 1 170 170 NUM taxlaw-2807 719 2 see see VERB taxlaw-2807 719 3 walter walter PROPN taxlaw-2807 719 4 blum blum PROPN taxlaw-2807 719 5 & & CCONJ taxlaw-2807 719 6 harry harry PROPN taxlaw-2807 719 7 kalven kalven PROPN taxlaw-2807 719 8 , , PUNCT taxlaw-2807 719 9 supra supra PROPN taxlaw-2807 719 10 note note NOUN taxlaw-2807 719 11 105 105 NUM taxlaw-2807 719 12 , , PUNCT taxlaw-2807 719 13 at at ADP taxlaw-2807 719 14 417 417 NUM taxlaw-2807 719 15 , , PUNCT taxlaw-2807 719 16 427–31 427–31 NUM taxlaw-2807 719 17 . . PUNCT taxlaw-2807 720 1 171 171 NUM taxlaw-2807 721 1 i i PRON taxlaw-2807 721 2 d. d. PROPN taxlaw-2807 721 3 at at ADP taxlaw-2807 721 4 430–31 430–31 PROPN taxlaw-2807 721 5 . . PUNCT taxlaw-2807 721 6 172 172 NUM taxlaw-2807 722 1 i i PRON taxlaw-2807 722 2 d. d. PROPN taxlaw-2807 722 3 at at ADP taxlaw-2807 722 4 437–39 437–39 PROPN taxlaw-2807 722 5 ( ( PUNCT taxlaw-2807 722 6 noting note VERB taxlaw-2807 722 7 that that SCONJ taxlaw-2807 722 8 under under ADP taxlaw-2807 722 9 a a DET taxlaw-2807 722 10 progressive progressive ADJ taxlaw-2807 722 11 tax tax NOUN taxlaw-2807 722 12 regime regime NOUN taxlaw-2807 722 13 , , PUNCT taxlaw-2807 722 14 gains gain NOUN taxlaw-2807 722 15 may may AUX taxlaw-2807 722 16 be be AUX taxlaw-2807 722 17 taxed tax VERB taxlaw-2807 722 18 at at ADP taxlaw-2807 722 19 higher high ADJ taxlaw-2807 722 20 rates rate NOUN taxlaw-2807 722 21 than than ADP taxlaw-2807 722 22 the the DET taxlaw-2807 722 23 rates rate NOUN taxlaw-2807 722 24 in in ADP taxlaw-2807 722 25 which which PRON taxlaw-2807 722 26 losses loss NOUN taxlaw-2807 722 27 are be AUX taxlaw-2807 722 28 given give VERB taxlaw-2807 722 29 deductions deduction NOUN taxlaw-2807 722 30 and and CCONJ taxlaw-2807 722 31 that that SCONJ taxlaw-2807 722 32 high high ADJ taxlaw-2807 722 33 marginal marginal ADJ taxlaw-2807 722 34 rates rate NOUN taxlaw-2807 722 35 significantly significantly ADV taxlaw-2807 722 36 reduce reduce VERB taxlaw-2807 722 37 the the DET taxlaw-2807 722 38 monetary monetary ADJ taxlaw-2807 722 39 reward reward NOUN taxlaw-2807 722 40 of of ADP taxlaw-2807 722 41 the the DET taxlaw-2807 722 42 most most ADV taxlaw-2807 722 43 productive productive ADJ taxlaw-2807 722 44 workers worker NOUN taxlaw-2807 722 45 — — PUNCT taxlaw-2807 722 46 giving give VERB taxlaw-2807 722 47 them they PRON taxlaw-2807 722 48 serious serious ADJ taxlaw-2807 722 49 disincentives disincentive NOUN taxlaw-2807 722 50 to to PART taxlaw-2807 722 51 work work VERB taxlaw-2807 722 52 an an DET taxlaw-2807 722 53 additional additional ADJ taxlaw-2807 722 54 marginal marginal ADJ taxlaw-2807 722 55 hour hour NOUN taxlaw-2807 722 56 of of ADP taxlaw-2807 722 57 work work NOUN taxlaw-2807 722 58 ) ) PUNCT taxlaw-2807 722 59 . . PUNCT taxlaw-2807 723 1 173 173 NUM taxlaw-2807 723 2 see see VERB taxlaw-2807 723 3 bankman bankman NOUN taxlaw-2807 723 4 & & CCONJ taxlaw-2807 723 5 griffith griffith PROPN taxlaw-2807 723 6 , , PUNCT taxlaw-2807 723 7 supra supra PROPN taxlaw-2807 723 8 note note NOUN taxlaw-2807 723 9 73 73 NUM taxlaw-2807 723 10 , , PUNCT taxlaw-2807 723 11 at at ADP taxlaw-2807 723 12 1944–45 1944–45 PROPN taxlaw-2807 723 13 ( ( PUNCT taxlaw-2807 723 14 arguing argue VERB taxlaw-2807 723 15 that that SCONJ taxlaw-2807 723 16 the the DET taxlaw-2807 723 17 impact impact NOUN taxlaw-2807 723 18 of of ADP taxlaw-2807 723 19 progressive progressive ADJ taxlaw-2807 723 20 tax tax NOUN taxlaw-2807 723 21 rates rate NOUN taxlaw-2807 723 22 has have AUX taxlaw-2807 723 23 been be AUX taxlaw-2807 723 24 overstated overstate VERB taxlaw-2807 723 25 ) ) PUNCT taxlaw-2807 723 26 . . PUNCT taxlaw-2807 724 1 174 174 NUM taxlaw-2807 724 2 blum blum PROPN taxlaw-2807 724 3 & & CCONJ taxlaw-2807 724 4 kalven kalven PROPN taxlaw-2807 724 5 , , PUNCT taxlaw-2807 724 6 supra supra PROPN taxlaw-2807 724 7 note note VERB taxlaw-2807 724 8 170 170 NUM taxlaw-2807 724 9 105 105 NUM taxlaw-2807 724 10 , , PUNCT taxlaw-2807 724 11 at at ADP taxlaw-2807 724 12 444 444 NUM taxlaw-2807 724 13 . . PUNCT taxlaw-2807 724 14 76 76 NUM taxlaw-2807 724 15 columbia columbia PROPN taxlaw-2807 724 16 journal journal PROPN taxlaw-2807 724 17 of of ADP taxlaw-2807 724 18 tax tax NOUN taxlaw-2807 724 19 law law NOUN taxlaw-2807 725 1 [ [ X taxlaw-2807 725 2 vol.3:43 vol.3:43 PROPN taxlaw-2807 725 3 and and CCONJ taxlaw-2807 725 4 thereby thereby ADV taxlaw-2807 725 5 reduce reduce VERB taxlaw-2807 725 6 the the DET taxlaw-2807 725 7 overall overall ADJ taxlaw-2807 725 8 costs cost NOUN taxlaw-2807 725 9 of of ADP taxlaw-2807 725 10 employing employ VERB taxlaw-2807 725 11 a a DET taxlaw-2807 725 12 tax tax NOUN taxlaw-2807 725 13 - - PUNCT taxlaw-2807 725 14 driven drive VERB taxlaw-2807 725 15 wealth wealth NOUN taxlaw-2807 725 16 redistribution redistribution NOUN taxlaw-2807 725 17 scheme.175 scheme.175 PROPN taxlaw-2807 725 18 taxing tax VERB taxlaw-2807 725 19 personal personal ADJ taxlaw-2807 725 20 assets asset NOUN taxlaw-2807 725 21 on on ADP taxlaw-2807 725 22 a a DET taxlaw-2807 725 23 realization realization NOUN taxlaw-2807 725 24 basis basis NOUN taxlaw-2807 725 25 is be AUX taxlaw-2807 725 26 not not PART taxlaw-2807 725 27 the the DET taxlaw-2807 725 28 only only ADJ taxlaw-2807 725 29 way way NOUN taxlaw-2807 725 30 to to PART taxlaw-2807 725 31 make make VERB taxlaw-2807 725 32 the the DET taxlaw-2807 725 33 income income NOUN taxlaw-2807 725 34 tax tax NOUN taxlaw-2807 725 35 base base NOUN taxlaw-2807 725 36 more more ADV taxlaw-2807 725 37 progressive progressive ADJ taxlaw-2807 725 38 . . PUNCT taxlaw-2807 726 1 allowing allow VERB taxlaw-2807 726 2 for for ADP taxlaw-2807 726 3 personal personal ADJ taxlaw-2807 726 4 exemptions exemption NOUN taxlaw-2807 726 5 that that PRON taxlaw-2807 726 6 are be AUX taxlaw-2807 726 7 sensitive sensitive ADJ taxlaw-2807 726 8 to to ADP taxlaw-2807 726 9 economic economic ADJ taxlaw-2807 726 10 hardship hardship NOUN taxlaw-2807 726 11 would would AUX taxlaw-2807 726 12 also also ADV taxlaw-2807 726 13 make make VERB taxlaw-2807 726 14 the the DET taxlaw-2807 726 15 tax tax NOUN taxlaw-2807 726 16 base base NOUN taxlaw-2807 726 17 more more ADV taxlaw-2807 726 18 progressive progressive ADJ taxlaw-2807 726 19 as as ADP taxlaw-2807 726 20 a a DET taxlaw-2807 726 21 whole.176 whole.176 NOUN taxlaw-2807 726 22 if if SCONJ taxlaw-2807 726 23 this this PRON taxlaw-2807 726 24 is be AUX taxlaw-2807 726 25 true true ADJ taxlaw-2807 726 26 , , PUNCT taxlaw-2807 726 27 a a DET taxlaw-2807 726 28 general general ADJ taxlaw-2807 726 29 mark mark NOUN taxlaw-2807 726 30 - - PUNCT taxlaw-2807 726 31 to to ADP taxlaw-2807 726 32 - - PUNCT taxlaw-2807 726 33 market market NOUN taxlaw-2807 726 34 regime regime NOUN taxlaw-2807 726 35 could could AUX taxlaw-2807 726 36 cover cover VERB taxlaw-2807 726 37 all all DET taxlaw-2807 726 38 assets asset NOUN taxlaw-2807 726 39 ( ( PUNCT taxlaw-2807 726 40 including include VERB taxlaw-2807 726 41 personal personal ADJ taxlaw-2807 726 42 assets asset NOUN taxlaw-2807 726 43 ) ) PUNCT taxlaw-2807 726 44 , , PUNCT taxlaw-2807 726 45 while while SCONJ taxlaw-2807 726 46 personal personal ADJ taxlaw-2807 726 47 exemptions exemption NOUN taxlaw-2807 726 48 could could AUX taxlaw-2807 726 49 make make VERB taxlaw-2807 726 50 the the DET taxlaw-2807 726 51 income income NOUN taxlaw-2807 726 52 tax tax NOUN taxlaw-2807 726 53 more more ADV taxlaw-2807 726 54 progressive progressive ADJ taxlaw-2807 726 55 . . PUNCT taxlaw-2807 727 1 it it PRON taxlaw-2807 727 2 seems seem VERB taxlaw-2807 727 3 , , PUNCT taxlaw-2807 727 4 however however ADV taxlaw-2807 727 5 , , PUNCT taxlaw-2807 727 6 that that SCONJ taxlaw-2807 727 7 even even ADV taxlaw-2807 727 8 a a DET taxlaw-2807 727 9 carefully carefully ADV taxlaw-2807 727 10 structured structure VERB taxlaw-2807 727 11 mark mark NOUN taxlaw-2807 727 12 - - PUNCT taxlaw-2807 727 13 to to ADP taxlaw-2807 727 14 - - PUNCT taxlaw-2807 727 15 market market NOUN taxlaw-2807 727 16 regime regime NOUN taxlaw-2807 727 17 that that PRON taxlaw-2807 727 18 provides provide VERB taxlaw-2807 727 19 relatively relatively ADV taxlaw-2807 727 20 generous generous ADJ taxlaw-2807 727 21 personal personal ADJ taxlaw-2807 727 22 exemptions exemption NOUN taxlaw-2807 727 23 would would AUX taxlaw-2807 727 24 result result VERB taxlaw-2807 727 25 in in ADP taxlaw-2807 727 26 problematic problematic ADJ taxlaw-2807 727 27 interpersonal interpersonal ADJ taxlaw-2807 727 28 comparisons comparison NOUN taxlaw-2807 727 29 . . PUNCT taxlaw-2807 728 1 for for ADP taxlaw-2807 728 2 example example NOUN taxlaw-2807 728 3 , , PUNCT taxlaw-2807 728 4 as as ADV taxlaw-2807 728 5 long long ADV taxlaw-2807 728 6 as as SCONJ taxlaw-2807 728 7 it it PRON taxlaw-2807 728 8 relies rely VERB taxlaw-2807 728 9 upon upon SCONJ taxlaw-2807 728 10 the the DET taxlaw-2807 728 11 market market NOUN taxlaw-2807 728 12 price price NOUN taxlaw-2807 728 13 of of ADP taxlaw-2807 728 14 personal personal ADJ taxlaw-2807 728 15 assets asset NOUN taxlaw-2807 728 16 as as ADP taxlaw-2807 728 17 a a DET taxlaw-2807 728 18 benchmark benchmark NOUN taxlaw-2807 728 19 , , PUNCT taxlaw-2807 728 20 such such DET taxlaw-2807 728 21 a a DET taxlaw-2807 728 22 regime regime NOUN taxlaw-2807 728 23 would would AUX taxlaw-2807 728 24 impose impose VERB taxlaw-2807 728 25 a a DET taxlaw-2807 728 26 higher high ADJ taxlaw-2807 728 27 effective effective ADJ taxlaw-2807 728 28 tax tax NOUN taxlaw-2807 728 29 rate rate NOUN taxlaw-2807 728 30 on on ADP taxlaw-2807 728 31 the the DET taxlaw-2807 728 32 professor professor NOUN taxlaw-2807 728 33 with with ADP taxlaw-2807 728 34 the the DET taxlaw-2807 728 35 valuable valuable ADJ taxlaw-2807 728 36 assets asset NOUN taxlaw-2807 728 37 than than ADP taxlaw-2807 728 38 on on ADP taxlaw-2807 728 39 her her PRON taxlaw-2807 728 40 colleague colleague NOUN taxlaw-2807 728 41 with with ADP taxlaw-2807 728 42 the the DET taxlaw-2807 728 43 less less ADV taxlaw-2807 728 44 valuable valuable ADJ taxlaw-2807 728 45 ones one NOUN taxlaw-2807 728 46 . . PUNCT taxlaw-2807 729 1 finally finally ADV taxlaw-2807 729 2 , , PUNCT taxlaw-2807 729 3 while while SCONJ taxlaw-2807 729 4 we we PRON taxlaw-2807 729 5 recognize recognize VERB taxlaw-2807 729 6 that that SCONJ taxlaw-2807 729 7 granting grant VERB taxlaw-2807 729 8 realization realization NOUN taxlaw-2807 729 9 treatment treatment NOUN taxlaw-2807 729 10 only only ADV taxlaw-2807 729 11 to to ADP taxlaw-2807 729 12 personal personal ADJ taxlaw-2807 729 13 assets asset NOUN taxlaw-2807 729 14 would would AUX taxlaw-2807 729 15 undoubtedly undoubtedly ADV taxlaw-2807 729 16 distort distort VERB taxlaw-2807 729 17 ownership ownership NOUN taxlaw-2807 729 18 patterns pattern NOUN taxlaw-2807 729 19 , , PUNCT taxlaw-2807 729 20 there there PRON taxlaw-2807 729 21 are be VERB taxlaw-2807 729 22 reasons reason NOUN taxlaw-2807 729 23 to to PART taxlaw-2807 729 24 believe believe VERB taxlaw-2807 729 25 that that SCONJ taxlaw-2807 729 26 the the DET taxlaw-2807 729 27 impact impact NOUN taxlaw-2807 729 28 of of ADP taxlaw-2807 729 29 these these DET taxlaw-2807 729 30 distortions distortion NOUN taxlaw-2807 729 31 would would AUX taxlaw-2807 729 32 not not PART taxlaw-2807 729 33 be be AUX taxlaw-2807 729 34 huge huge ADJ taxlaw-2807 729 35 . . PUNCT taxlaw-2807 730 1 because because SCONJ taxlaw-2807 730 2 of of ADP taxlaw-2807 730 3 the the DET taxlaw-2807 730 4 high high ADJ taxlaw-2807 730 5 subjective subjective ADJ taxlaw-2807 730 6 value value NOUN taxlaw-2807 730 7 taxpayers taxpayer NOUN taxlaw-2807 730 8 attach attach VERB taxlaw-2807 730 9 to to ADP taxlaw-2807 730 10 personal personal ADJ taxlaw-2807 730 11 assets asset NOUN taxlaw-2807 730 12 ( ( PUNCT taxlaw-2807 730 13 and and CCONJ taxlaw-2807 730 14 the the DET taxlaw-2807 730 15 costs cost NOUN taxlaw-2807 730 16 of of ADP taxlaw-2807 730 17 detaching detach VERB taxlaw-2807 730 18 from from ADP taxlaw-2807 730 19 them they PRON taxlaw-2807 730 20 ) ) PUNCT taxlaw-2807 730 21 , , PUNCT taxlaw-2807 730 22 one one PRON taxlaw-2807 730 23 can can AUX taxlaw-2807 730 24 view view VERB taxlaw-2807 730 25 most most ADJ taxlaw-2807 730 26 taxpayers taxpayer NOUN taxlaw-2807 730 27 as as ADP taxlaw-2807 730 28 being be AUX taxlaw-2807 730 29 neither neither CCONJ taxlaw-2807 730 30 short short ADJ taxlaw-2807 730 31 nor nor CCONJ taxlaw-2807 730 32 long long ADJ taxlaw-2807 730 33 on on ADP taxlaw-2807 730 34 those those PRON taxlaw-2807 730 35 assets.177 assets.177 ADV taxlaw-2807 730 36 in in ADP taxlaw-2807 730 37 other other ADJ taxlaw-2807 730 38 words word NOUN taxlaw-2807 730 39 , , PUNCT taxlaw-2807 730 40 the the DET taxlaw-2807 730 41 ability ability NOUN taxlaw-2807 730 42 of of ADP taxlaw-2807 730 43 taxpayers taxpayer NOUN taxlaw-2807 730 44 to to PART taxlaw-2807 730 45 manipulate manipulate VERB taxlaw-2807 730 46 their their PRON taxlaw-2807 730 47 holdings holding NOUN taxlaw-2807 730 48 of of ADP taxlaw-2807 730 49 these these DET taxlaw-2807 730 50 assets asset NOUN taxlaw-2807 730 51 to to PART taxlaw-2807 730 52 achieve achieve VERB taxlaw-2807 730 53 a a DET taxlaw-2807 730 54 tax tax NOUN taxlaw-2807 730 55 advantage advantage NOUN taxlaw-2807 730 56 exists exist VERB taxlaw-2807 730 57 but but CCONJ taxlaw-2807 730 58 is be AUX taxlaw-2807 730 59 limited limit VERB taxlaw-2807 730 60 . . PUNCT taxlaw-2807 731 1 taxpayers taxpayer NOUN taxlaw-2807 731 2 may may AUX taxlaw-2807 731 3 not not PART taxlaw-2807 731 4 be be AUX taxlaw-2807 731 5 as as ADP taxlaw-2807 731 6 tax tax NOUN taxlaw-2807 731 7 efficient efficient ADJ taxlaw-2807 731 8 when when SCONJ taxlaw-2807 731 9 it it PRON taxlaw-2807 731 10 comes come VERB taxlaw-2807 731 11 to to ADP taxlaw-2807 731 12 holding holding NOUN taxlaw-2807 731 13 of of ADP taxlaw-2807 731 14 personal personal ADJ taxlaw-2807 731 15 assets asset NOUN taxlaw-2807 731 16 — — PUNCT taxlaw-2807 731 17 for for ADP taxlaw-2807 731 18 example example NOUN taxlaw-2807 731 19 , , PUNCT taxlaw-2807 731 20 if if SCONJ taxlaw-2807 731 21 the the DET taxlaw-2807 731 22 taxpayer taxpayer NOUN taxlaw-2807 731 23 sells sell VERB taxlaw-2807 731 24 a a DET taxlaw-2807 731 25 residential residential ADJ taxlaw-2807 731 26 real real ADJ taxlaw-2807 731 27 estate estate NOUN taxlaw-2807 731 28 property property NOUN taxlaw-2807 731 29 , , PUNCT taxlaw-2807 731 30 she she PRON taxlaw-2807 731 31 becomes become VERB taxlaw-2807 731 32 short short ADJ taxlaw-2807 731 33 on on ADP taxlaw-2807 731 34 that that DET taxlaw-2807 731 35 property property NOUN taxlaw-2807 731 36 . . PUNCT taxlaw-2807 732 1 while while SCONJ taxlaw-2807 732 2 she she PRON taxlaw-2807 732 3 can can AUX taxlaw-2807 732 4 rent rent VERB taxlaw-2807 732 5 for for ADP taxlaw-2807 732 6 a a DET taxlaw-2807 732 7 while while NOUN taxlaw-2807 732 8 , , PUNCT taxlaw-2807 732 9 the the DET taxlaw-2807 732 10 costs cost NOUN taxlaw-2807 732 11 of of ADP taxlaw-2807 732 12 shifting shift VERB taxlaw-2807 732 13 in in ADP taxlaw-2807 732 14 and and CCONJ taxlaw-2807 732 15 out out ADV taxlaw-2807 732 16 from from ADP taxlaw-2807 732 17 a a DET taxlaw-2807 732 18 residential residential ADJ taxlaw-2807 732 19 property property NOUN taxlaw-2807 732 20 are be AUX taxlaw-2807 732 21 high high ADJ taxlaw-2807 732 22 , , PUNCT taxlaw-2807 732 23 which which PRON taxlaw-2807 732 24 drives drive VERB taxlaw-2807 732 25 down down ADP taxlaw-2807 732 26 the the DET taxlaw-2807 732 27 likelihood likelihood NOUN taxlaw-2807 732 28 of of ADP taxlaw-2807 732 29 manipulation manipulation NOUN taxlaw-2807 732 30 . . PUNCT taxlaw-2807 733 1 additionally additionally ADV taxlaw-2807 733 2 , , PUNCT taxlaw-2807 733 3 while while SCONJ taxlaw-2807 733 4 granting grant VERB taxlaw-2807 733 5 realization realization NOUN taxlaw-2807 733 6 treatment treatment NOUN taxlaw-2807 733 7 only only ADV taxlaw-2807 733 8 to to ADP taxlaw-2807 733 9 personal personal ADJ taxlaw-2807 733 10 assets asset NOUN taxlaw-2807 733 11 may may AUX taxlaw-2807 733 12 result result VERB taxlaw-2807 733 13 in in ADP taxlaw-2807 733 14 overinvestment overinvestment NOUN taxlaw-2807 733 15 in in ADP taxlaw-2807 733 16 businesses business NOUN taxlaw-2807 733 17 that that PRON taxlaw-2807 733 18 fall fall VERB taxlaw-2807 733 19 under under ADP taxlaw-2807 733 20 the the DET taxlaw-2807 733 21 personal personal ADJ taxlaw-2807 733 22 asset asset NOUN taxlaw-2807 733 23 category category NOUN taxlaw-2807 733 24 , , PUNCT taxlaw-2807 733 25 there there PRON taxlaw-2807 733 26 are be VERB taxlaw-2807 733 27 other other ADJ taxlaw-2807 733 28 ways way NOUN taxlaw-2807 733 29 to to PART taxlaw-2807 733 30 address address VERB taxlaw-2807 733 31 these these DET taxlaw-2807 733 32 concerns.178 concerns.178 NOUN taxlaw-2807 733 33 the the DET taxlaw-2807 733 34 fourth fourth ADJ taxlaw-2807 733 35 criticism criticism NOUN taxlaw-2807 733 36 , , PUNCT taxlaw-2807 733 37 that that SCONJ taxlaw-2807 733 38 exempting exempt VERB taxlaw-2807 733 39 personal personal ADJ taxlaw-2807 733 40 assets asset NOUN taxlaw-2807 733 41 altogether altogether ADV taxlaw-2807 733 42 or or CCONJ taxlaw-2807 733 43 subjecting subject VERB taxlaw-2807 733 44 them they PRON taxlaw-2807 733 45 to to ADP taxlaw-2807 733 46 a a DET taxlaw-2807 733 47 lower low ADJ taxlaw-2807 733 48 rate rate NOUN taxlaw-2807 733 49 is be AUX taxlaw-2807 733 50 more more ADV taxlaw-2807 733 51 consistent consistent ADJ taxlaw-2807 733 52 with with ADP taxlaw-2807 733 53 this this DET taxlaw-2807 733 54 article article NOUN taxlaw-2807 733 55 ’s ’s PART taxlaw-2807 733 56 claim claim NOUN taxlaw-2807 733 57 that that SCONJ taxlaw-2807 733 58 they they PRON taxlaw-2807 733 59 are be AUX taxlaw-2807 733 60 progressively progressively ADV taxlaw-2807 733 61 distributed distribute VERB taxlaw-2807 733 62 , , PUNCT taxlaw-2807 733 63 is be AUX taxlaw-2807 733 64 the the DET taxlaw-2807 733 65 most most ADV taxlaw-2807 733 66 difficult difficult ADJ taxlaw-2807 733 67 objection objection NOUN taxlaw-2807 733 68 . . PUNCT taxlaw-2807 734 1 one one PRON taxlaw-2807 734 2 may may AUX taxlaw-2807 734 3 wonder wonder VERB taxlaw-2807 734 4 why why SCONJ taxlaw-2807 734 5 a a DET taxlaw-2807 734 6 sale sale NOUN taxlaw-2807 734 7 of of ADP taxlaw-2807 734 8 a a DET taxlaw-2807 734 9 personal personal ADJ taxlaw-2807 734 10 asset asset NOUN taxlaw-2807 734 11 should should AUX taxlaw-2807 734 12 trigger trigger VERB taxlaw-2807 734 13 a a DET taxlaw-2807 734 14 tax tax NOUN taxlaw-2807 734 15 at at ADV taxlaw-2807 734 16 all all ADV taxlaw-2807 734 17 . . PUNCT taxlaw-2807 735 1 if if SCONJ taxlaw-2807 735 2 a a DET taxlaw-2807 735 3 taxpayer taxpayer NOUN taxlaw-2807 735 4 sells sell VERB taxlaw-2807 735 5 a a DET taxlaw-2807 735 6 personal personal ADJ taxlaw-2807 735 7 asset asset NOUN taxlaw-2807 735 8 , , PUNCT taxlaw-2807 735 9 which which PRON taxlaw-2807 735 10 he he PRON taxlaw-2807 735 11 initially initially ADV taxlaw-2807 735 12 valued value VERB taxlaw-2807 735 13 significantly significantly ADV taxlaw-2807 735 14 more more ADV taxlaw-2807 735 15 than than ADP taxlaw-2807 735 16 the the DET taxlaw-2807 735 17 market market NOUN taxlaw-2807 735 18 price price NOUN taxlaw-2807 735 19 , , PUNCT taxlaw-2807 735 20 it it PRON taxlaw-2807 735 21 may may AUX taxlaw-2807 735 22 be be AUX taxlaw-2807 735 23 because because SCONJ taxlaw-2807 735 24 he he PRON taxlaw-2807 735 25 is be AUX taxlaw-2807 735 26 actually actually ADV taxlaw-2807 735 27 less less ADV taxlaw-2807 735 28 well well ADV taxlaw-2807 735 29 - - PUNCT taxlaw-2807 735 30 off off NOUN taxlaw-2807 735 31 . . PUNCT taxlaw-2807 736 1 for for ADP taxlaw-2807 736 2 example example NOUN taxlaw-2807 736 3 , , PUNCT taxlaw-2807 736 4 a a DET taxlaw-2807 736 5 taxpayer taxpayer NOUN taxlaw-2807 736 6 may may AUX taxlaw-2807 736 7 have have AUX taxlaw-2807 736 8 bought buy VERB taxlaw-2807 736 9 a a DET taxlaw-2807 736 10 residential residential ADJ taxlaw-2807 736 11 home home NOUN taxlaw-2807 736 12 , , PUNCT taxlaw-2807 736 13 enjoyed enjoy VERB taxlaw-2807 736 14 it it PRON taxlaw-2807 736 15 very very ADV taxlaw-2807 736 16 much much ADV taxlaw-2807 736 17 , , PUNCT taxlaw-2807 736 18 and and CCONJ taxlaw-2807 736 19 been be AUX taxlaw-2807 736 20 unwilling unwilling ADJ taxlaw-2807 736 21 to to PART taxlaw-2807 736 22 sell sell VERB taxlaw-2807 736 23 it it PRON taxlaw-2807 736 24 . . PUNCT taxlaw-2807 737 1 after after ADP taxlaw-2807 737 2 a a DET taxlaw-2807 737 3 while while NOUN taxlaw-2807 737 4 , , PUNCT taxlaw-2807 737 5 however however ADV taxlaw-2807 737 6 , , PUNCT taxlaw-2807 737 7 he he PRON taxlaw-2807 737 8 may may AUX taxlaw-2807 737 9 have have AUX taxlaw-2807 737 10 found find VERB taxlaw-2807 737 11 out out ADP taxlaw-2807 737 12 that that SCONJ taxlaw-2807 737 13 he he PRON taxlaw-2807 737 14 was be AUX taxlaw-2807 737 15 not not PART taxlaw-2807 737 16 that that ADV taxlaw-2807 737 17 fond fond ADJ taxlaw-2807 737 18 of of ADP taxlaw-2807 737 19 the the DET taxlaw-2807 737 20 house house NOUN taxlaw-2807 737 21 anymore anymore ADV taxlaw-2807 737 22 and and CCONJ taxlaw-2807 737 23 may may AUX taxlaw-2807 737 24 have have AUX taxlaw-2807 737 25 sold sell VERB taxlaw-2807 737 26 it it PRON taxlaw-2807 737 27 for for ADP taxlaw-2807 737 28 its its PRON taxlaw-2807 737 29 fair fair ADJ taxlaw-2807 737 30 market market NOUN taxlaw-2807 737 31 value value NOUN taxlaw-2807 737 32 . . PUNCT taxlaw-2807 738 1 in in ADP taxlaw-2807 738 2 other other ADJ taxlaw-2807 738 3 words word NOUN taxlaw-2807 738 4 , , PUNCT taxlaw-2807 738 5 the the DET taxlaw-2807 738 6 taxpayer taxpayer NOUN taxlaw-2807 738 7 sold sell VERB taxlaw-2807 738 8 his his PRON taxlaw-2807 738 9 personal personal ADJ taxlaw-2807 738 10 asset asset NOUN taxlaw-2807 738 11 because because SCONJ taxlaw-2807 738 12 he he PRON taxlaw-2807 738 13 experienced experience VERB taxlaw-2807 738 14 a a DET taxlaw-2807 738 15 loss loss NOUN taxlaw-2807 738 16 of of ADP taxlaw-2807 738 17 utility utility NOUN taxlaw-2807 738 18 with with ADP taxlaw-2807 738 19 respect respect NOUN taxlaw-2807 738 20 to to ADP taxlaw-2807 738 21 it it PRON taxlaw-2807 738 22 . . PUNCT taxlaw-2807 739 1 because because SCONJ taxlaw-2807 739 2 the the DET taxlaw-2807 739 3 realization realization NOUN taxlaw-2807 739 4 event event NOUN taxlaw-2807 739 5 is be AUX taxlaw-2807 739 6 a a DET taxlaw-2807 739 7 byproduct byproduct NOUN taxlaw-2807 739 8 of of ADP taxlaw-2807 739 9 a a DET taxlaw-2807 739 10 utility utility NOUN taxlaw-2807 739 11 - - PUNCT taxlaw-2807 739 12 loss loss NOUN taxlaw-2807 739 13 ( ( PUNCT taxlaw-2807 739 14 rather rather ADV taxlaw-2807 739 15 than than ADP taxlaw-2807 739 16 gain gain NOUN taxlaw-2807 739 17 ) ) PUNCT taxlaw-2807 739 18 , , PUNCT taxlaw-2807 739 19 making make VERB taxlaw-2807 739 20 it it PRON taxlaw-2807 739 21 a a DET taxlaw-2807 739 22 trigger trigger NOUN taxlaw-2807 739 23 of of ADP taxlaw-2807 739 24 taxation taxation NOUN taxlaw-2807 739 25 seems seem VERB taxlaw-2807 739 26 utterly utterly ADV taxlaw-2807 739 27 unfair unfair ADJ taxlaw-2807 739 28 . . PUNCT taxlaw-2807 740 1 we we PRON taxlaw-2807 740 2 have have VERB taxlaw-2807 740 3 two two NUM taxlaw-2807 740 4 replies reply NOUN taxlaw-2807 740 5 to to ADP taxlaw-2807 740 6 this this DET taxlaw-2807 740 7 concern concern NOUN taxlaw-2807 740 8 . . PUNCT taxlaw-2807 741 1 the the DET taxlaw-2807 741 2 first first ADJ taxlaw-2807 741 3 is be AUX taxlaw-2807 741 4 that that SCONJ taxlaw-2807 741 5 in in ADP taxlaw-2807 741 6 public public ADJ taxlaw-2807 741 7 finance finance NOUN taxlaw-2807 741 8 the the DET taxlaw-2807 741 9 focus focus NOUN taxlaw-2807 741 10 is be AUX taxlaw-2807 741 11 on on ADP taxlaw-2807 741 12 rough rough ADJ taxlaw-2807 741 13 justice justice NOUN taxlaw-2807 741 14 rather rather ADV taxlaw-2807 741 15 than than ADP taxlaw-2807 741 16 upon upon SCONJ taxlaw-2807 741 17 particular particular ADJ taxlaw-2807 741 18 circumstances circumstance NOUN taxlaw-2807 741 19 . . PUNCT taxlaw-2807 742 1 hence hence ADV taxlaw-2807 742 2 , , PUNCT taxlaw-2807 742 3 as as SCONJ taxlaw-2807 742 4 mentioned mention VERB taxlaw-2807 742 5 in in ADP taxlaw-2807 742 6 part part NOUN taxlaw-2807 742 7 iii.a iii.a NUM taxlaw-2807 742 8 , , PUNCT taxlaw-2807 742 9 we we PRON taxlaw-2807 742 10 focus focus VERB taxlaw-2807 742 11 on on ADP taxlaw-2807 742 12 the the DET taxlaw-2807 742 13 distribution distribution NOUN taxlaw-2807 742 14 of of ADP taxlaw-2807 742 15 personal personal ADJ taxlaw-2807 742 16 assets asset NOUN taxlaw-2807 742 17 as as ADP taxlaw-2807 742 18 a a DET taxlaw-2807 742 19 class class NOUN taxlaw-2807 742 20 of of ADP taxlaw-2807 742 21 assets asset NOUN taxlaw-2807 742 22 rather rather ADV taxlaw-2807 742 23 than than ADP taxlaw-2807 742 24 on on ADP taxlaw-2807 742 25 the the DET taxlaw-2807 742 26 changes change NOUN taxlaw-2807 742 27 in in ADP taxlaw-2807 742 28 the the DET taxlaw-2807 742 29 specific specific ADJ taxlaw-2807 742 30 price price NOUN taxlaw-2807 742 31 of of ADP taxlaw-2807 742 32 an an DET taxlaw-2807 742 33 asset asset NOUN taxlaw-2807 742 34 . . PUNCT taxlaw-2807 743 1 since since SCONJ taxlaw-2807 743 2 personal personal ADJ taxlaw-2807 743 3 assets asset NOUN taxlaw-2807 743 4 comprise comprise VERB taxlaw-2807 743 5 a a DET taxlaw-2807 743 6 bigger big ADJ taxlaw-2807 743 7 175 175 NUM taxlaw-2807 743 8 see see VERB taxlaw-2807 743 9 bankman bankman PROPN taxlaw-2807 743 10 & & CCONJ taxlaw-2807 743 11 griffith griffith PROPN taxlaw-2807 743 12 , , PUNCT taxlaw-2807 743 13 supra supra PROPN taxlaw-2807 743 14 note note NOUN taxlaw-2807 743 15 73 73 NUM taxlaw-2807 743 16 , , PUNCT taxlaw-2807 743 17 at at ADP taxlaw-2807 743 18 1909–10 1909–10 NOUN taxlaw-2807 743 19 ( ( PUNCT taxlaw-2807 743 20 making make VERB taxlaw-2807 743 21 a a DET taxlaw-2807 743 22 related related ADJ taxlaw-2807 743 23 argument argument NOUN taxlaw-2807 743 24 that that SCONJ taxlaw-2807 743 25 the the DET taxlaw-2807 743 26 progressive progressive ADJ taxlaw-2807 743 27 tax tax NOUN taxlaw-2807 743 28 rates rate NOUN taxlaw-2807 743 29 are be AUX taxlaw-2807 743 30 not not PART taxlaw-2807 743 31 sufficient sufficient ADJ taxlaw-2807 743 32 to to PART taxlaw-2807 743 33 promote promote VERB taxlaw-2807 743 34 overall overall ADJ taxlaw-2807 743 35 tax tax NOUN taxlaw-2807 743 36 progressivity progressivity NOUN taxlaw-2807 743 37 if if SCONJ taxlaw-2807 743 38 the the DET taxlaw-2807 743 39 tax tax NOUN taxlaw-2807 743 40 base base NOUN taxlaw-2807 743 41 is be AUX taxlaw-2807 743 42 not not PART taxlaw-2807 743 43 sufficiently sufficiently ADV taxlaw-2807 743 44 progressive progressive ADJ taxlaw-2807 743 45 ) ) PUNCT taxlaw-2807 743 46 . . PUNCT taxlaw-2807 744 1 176 176 NUM taxlaw-2807 744 2 blum blum PROPN taxlaw-2807 744 3 & & CCONJ taxlaw-2807 744 4 kalven kalven PROPN taxlaw-2807 744 5 , , PUNCT taxlaw-2807 744 6 supra supra PROPN taxlaw-2807 744 7 note note PROPN taxlaw-2807 744 8 170 170 NUM taxlaw-2807 744 9 , , PUNCT taxlaw-2807 744 10 at at ADP taxlaw-2807 744 11 506–11 506–11 NUM taxlaw-2807 744 12 . . PUNCT taxlaw-2807 744 13 177 177 NUM taxlaw-2807 744 14 we we PRON taxlaw-2807 744 15 thank thank VERB taxlaw-2807 744 16 michael michael PROPN taxlaw-2807 744 17 smart smart ADJ taxlaw-2807 744 18 for for ADP taxlaw-2807 744 19 this this DET taxlaw-2807 744 20 observation observation NOUN taxlaw-2807 744 21 . . PUNCT taxlaw-2807 745 1 178 178 NUM taxlaw-2807 745 2 for for ADP taxlaw-2807 745 3 example example NOUN taxlaw-2807 745 4 , , PUNCT taxlaw-2807 745 5 promoting promote VERB taxlaw-2807 745 6 risk risk NOUN taxlaw-2807 745 7 diversification diversification NOUN taxlaw-2807 745 8 ( ( PUNCT taxlaw-2807 745 9 e.g. e.g. ADV taxlaw-2807 745 10 , , PUNCT taxlaw-2807 745 11 regulated regulated ADJ taxlaw-2807 745 12 investment investment NOUN taxlaw-2807 745 13 vehicles vehicle NOUN taxlaw-2807 745 14 for for ADP taxlaw-2807 745 15 retirement retirement NOUN taxlaw-2807 745 16 ) ) PUNCT taxlaw-2807 745 17 and and CCONJ taxlaw-2807 745 18 capping cap VERB taxlaw-2807 745 19 the the DET taxlaw-2807 745 20 benefit benefit NOUN taxlaw-2807 745 21 realization realization NOUN taxlaw-2807 745 22 so so SCONJ taxlaw-2807 745 23 that that SCONJ taxlaw-2807 745 24 it it PRON taxlaw-2807 745 25 only only ADV taxlaw-2807 745 26 applies apply VERB taxlaw-2807 745 27 to to ADP taxlaw-2807 745 28 a a DET taxlaw-2807 745 29 certain certain ADJ taxlaw-2807 745 30 amount amount NOUN taxlaw-2807 745 31 of of ADP taxlaw-2807 745 32 personal personal ADJ taxlaw-2807 745 33 assets asset NOUN taxlaw-2807 745 34 . . PUNCT taxlaw-2807 746 1 see see VERB taxlaw-2807 746 2 supra supra PROPN taxlaw-2807 746 3 note note PROPN taxlaw-2807 746 4 102 102 NUM taxlaw-2807 746 5 . . PUNCT taxlaw-2807 747 1 see see VERB taxlaw-2807 747 2 also also ADV taxlaw-2807 747 3 infra infra VERB taxlaw-2807 747 4 notes note VERB taxlaw-2807 747 5 205–206 205–206 NUM taxlaw-2807 747 6 . . PUNCT taxlaw-2807 748 1 2011 2011 NUM taxlaw-2807 748 2 ] ] PUNCT taxlaw-2807 748 3 realization realization NOUN taxlaw-2807 748 4 and and CCONJ taxlaw-2807 748 5 progressivity progressivity NOUN taxlaw-2807 748 6 77 77 NUM taxlaw-2807 748 7 share share NOUN taxlaw-2807 748 8 of of ADP taxlaw-2807 748 9 low low ADJ taxlaw-2807 748 10 to to ADP taxlaw-2807 748 11 medium medium ADJ taxlaw-2807 748 12 - - PUNCT taxlaw-2807 748 13 income income NOUN taxlaw-2807 748 14 taxpayers taxpayer NOUN taxlaw-2807 748 15 ’ ’ PART taxlaw-2807 748 16 assets asset NOUN taxlaw-2807 748 17 , , PUNCT taxlaw-2807 748 18 then then ADV taxlaw-2807 748 19 giving give VERB taxlaw-2807 748 20 them they PRON taxlaw-2807 748 21 an an DET taxlaw-2807 748 22 advantageous advantageous ADJ taxlaw-2807 748 23 tax tax NOUN taxlaw-2807 748 24 treatment treatment NOUN taxlaw-2807 748 25 would would AUX taxlaw-2807 748 26 result result VERB taxlaw-2807 748 27 in in ADP taxlaw-2807 748 28 increased increase VERB taxlaw-2807 748 29 progressivity progressivity NOUN taxlaw-2807 748 30 , , PUNCT taxlaw-2807 748 31 even even ADV taxlaw-2807 748 32 if if SCONJ taxlaw-2807 748 33 in in ADP taxlaw-2807 748 34 the the DET taxlaw-2807 748 35 case case NOUN taxlaw-2807 748 36 of of ADP taxlaw-2807 748 37 a a DET taxlaw-2807 748 38 specific specific ADJ taxlaw-2807 748 39 asset asset NOUN taxlaw-2807 748 40 it it PRON taxlaw-2807 748 41 may may AUX taxlaw-2807 748 42 be be AUX taxlaw-2807 748 43 difficult difficult ADJ taxlaw-2807 748 44 to to PART taxlaw-2807 748 45 see see VERB taxlaw-2807 748 46 why why SCONJ taxlaw-2807 748 47 the the DET taxlaw-2807 748 48 sale sale NOUN taxlaw-2807 748 49 justifies justify VERB taxlaw-2807 748 50 triggering trigger VERB taxlaw-2807 748 51 a a DET taxlaw-2807 748 52 tax tax NOUN taxlaw-2807 748 53 . . PUNCT taxlaw-2807 749 1 the the DET taxlaw-2807 749 2 second second ADJ taxlaw-2807 749 3 reply reply NOUN taxlaw-2807 749 4 is be AUX taxlaw-2807 749 5 that that SCONJ taxlaw-2807 749 6 , , PUNCT taxlaw-2807 749 7 as as SCONJ taxlaw-2807 749 8 noted note VERB taxlaw-2807 749 9 , , PUNCT taxlaw-2807 749 10 in in ADP taxlaw-2807 749 11 some some DET taxlaw-2807 749 12 extreme extreme ADJ taxlaw-2807 749 13 cases case NOUN taxlaw-2807 749 14 there there PRON taxlaw-2807 749 15 may may AUX taxlaw-2807 749 16 be be AUX taxlaw-2807 749 17 a a DET taxlaw-2807 749 18 good good ADJ taxlaw-2807 749 19 reason reason NOUN taxlaw-2807 749 20 to to PART taxlaw-2807 749 21 exempt exempt VERB taxlaw-2807 749 22 the the DET taxlaw-2807 749 23 returns return NOUN taxlaw-2807 749 24 for for ADP taxlaw-2807 749 25 personal personal ADJ taxlaw-2807 749 26 assets asset NOUN taxlaw-2807 749 27 altogether.179 altogether.179 NOUN taxlaw-2807 749 28 however however ADV taxlaw-2807 749 29 , , PUNCT taxlaw-2807 749 30 in in ADP taxlaw-2807 749 31 most most ADJ taxlaw-2807 749 32 cases case NOUN taxlaw-2807 749 33 there there PRON taxlaw-2807 749 34 seems seem VERB taxlaw-2807 749 35 to to PART taxlaw-2807 749 36 be be AUX taxlaw-2807 749 37 a a DET taxlaw-2807 749 38 strong strong ADJ taxlaw-2807 749 39 case case NOUN taxlaw-2807 749 40 for for ADP taxlaw-2807 749 41 taxing tax VERB taxlaw-2807 749 42 the the DET taxlaw-2807 749 43 income income NOUN taxlaw-2807 749 44 generated generate VERB taxlaw-2807 749 45 from from ADP taxlaw-2807 749 46 the the DET taxlaw-2807 749 47 sale sale NOUN taxlaw-2807 749 48 and and CCONJ taxlaw-2807 749 49 use use NOUN taxlaw-2807 749 50 of of ADP taxlaw-2807 749 51 personal personal ADJ taxlaw-2807 749 52 assets asset NOUN taxlaw-2807 749 53 . . PUNCT taxlaw-2807 750 1 for for ADP taxlaw-2807 750 2 example example NOUN taxlaw-2807 750 3 , , PUNCT taxlaw-2807 750 4 it it PRON taxlaw-2807 750 5 seems seem VERB taxlaw-2807 750 6 unreasonable unreasonable ADJ taxlaw-2807 750 7 to to PART taxlaw-2807 750 8 tax tax VERB taxlaw-2807 750 9 individuals individual NOUN taxlaw-2807 750 10 according accord VERB taxlaw-2807 750 11 to to ADP taxlaw-2807 750 12 the the DET taxlaw-2807 750 13 market market NOUN taxlaw-2807 750 14 value value NOUN taxlaw-2807 750 15 of of ADP taxlaw-2807 750 16 their their PRON taxlaw-2807 750 17 human human ADJ taxlaw-2807 750 18 capital capital NOUN taxlaw-2807 750 19 . . PUNCT taxlaw-2807 751 1 although although SCONJ taxlaw-2807 751 2 many many ADJ taxlaw-2807 751 3 healthy healthy ADJ taxlaw-2807 751 4 women woman NOUN taxlaw-2807 751 5 can can AUX taxlaw-2807 751 6 work work VERB taxlaw-2807 751 7 as as ADP taxlaw-2807 751 8 gestational gestational ADJ taxlaw-2807 751 9 surrogates surrogate NOUN taxlaw-2807 751 10 , , PUNCT taxlaw-2807 751 11 the the DET taxlaw-2807 751 12 market market NOUN taxlaw-2807 751 13 valuation valuation NOUN taxlaw-2807 751 14 of of ADP taxlaw-2807 751 15 this this DET taxlaw-2807 751 16 ability ability NOUN taxlaw-2807 751 17 is be AUX taxlaw-2807 751 18 a a DET taxlaw-2807 751 19 poor poor ADJ taxlaw-2807 751 20 indication indication NOUN taxlaw-2807 751 21 of of ADP taxlaw-2807 751 22 their their PRON taxlaw-2807 751 23 economic economic ADJ taxlaw-2807 751 24 well well NOUN taxlaw-2807 751 25 - - PUNCT taxlaw-2807 751 26 being.180 being.180 NOUN taxlaw-2807 751 27 the the DET taxlaw-2807 751 28 argument argument NOUN taxlaw-2807 751 29 changes change VERB taxlaw-2807 751 30 if if SCONJ taxlaw-2807 751 31 a a DET taxlaw-2807 751 32 specific specific ADJ taxlaw-2807 751 33 individual individual NOUN taxlaw-2807 751 34 makes make VERB taxlaw-2807 751 35 a a DET taxlaw-2807 751 36 voluntary voluntary ADJ taxlaw-2807 751 37 decision decision NOUN taxlaw-2807 751 38 to to PART taxlaw-2807 751 39 work work VERB taxlaw-2807 751 40 as as ADP taxlaw-2807 751 41 a a DET taxlaw-2807 751 42 surrogate surrogate NOUN taxlaw-2807 751 43 . . PUNCT taxlaw-2807 752 1 181 181 NUM taxlaw-2807 753 1 the the DET taxlaw-2807 753 2 monetary monetary ADJ taxlaw-2807 753 3 returns return NOUN taxlaw-2807 753 4 for for ADP taxlaw-2807 753 5 surrogacy surrogacy NOUN taxlaw-2807 753 6 are be AUX taxlaw-2807 753 7 not not PART taxlaw-2807 753 8 fundamentally fundamentally ADV taxlaw-2807 753 9 different different ADJ taxlaw-2807 753 10 from from ADP taxlaw-2807 753 11 those those PRON taxlaw-2807 753 12 received receive VERB taxlaw-2807 753 13 through through ADP taxlaw-2807 753 14 other other ADJ taxlaw-2807 753 15 employment employment NOUN taxlaw-2807 753 16 options option NOUN taxlaw-2807 753 17 . . PUNCT taxlaw-2807 754 1 if if SCONJ taxlaw-2807 754 2 society society NOUN taxlaw-2807 754 3 chooses choose VERB taxlaw-2807 754 4 income income NOUN taxlaw-2807 754 5 as as ADP taxlaw-2807 754 6 the the DET taxlaw-2807 754 7 relevant relevant ADJ taxlaw-2807 754 8 benchmark benchmark NOUN taxlaw-2807 754 9 for for ADP taxlaw-2807 754 10 measuring measure VERB taxlaw-2807 754 11 economic economic ADJ taxlaw-2807 754 12 well well NOUN taxlaw-2807 754 13 - - PUNCT taxlaw-2807 754 14 being being NOUN taxlaw-2807 754 15 , , PUNCT taxlaw-2807 754 16 different different ADJ taxlaw-2807 754 17 sources source NOUN taxlaw-2807 754 18 of of ADP taxlaw-2807 754 19 income income NOUN taxlaw-2807 754 20 should should AUX taxlaw-2807 754 21 be be AUX taxlaw-2807 754 22 treated treat VERB taxlaw-2807 754 23 the the DET taxlaw-2807 754 24 same.182 same.182 NOUN taxlaw-2807 754 25 in in ADP taxlaw-2807 754 26 this this DET taxlaw-2807 754 27 context context NOUN taxlaw-2807 754 28 , , PUNCT taxlaw-2807 754 29 the the DET taxlaw-2807 754 30 realization realization NOUN taxlaw-2807 754 31 principle principle NOUN taxlaw-2807 754 32 operates operate VERB taxlaw-2807 754 33 to to PART taxlaw-2807 754 34 avoid avoid VERB taxlaw-2807 754 35 problematic problematic ADJ taxlaw-2807 754 36 interpersonal interpersonal ADJ taxlaw-2807 754 37 comparisons comparison NOUN taxlaw-2807 754 38 with with ADP taxlaw-2807 754 39 respect respect NOUN taxlaw-2807 754 40 to to ADP taxlaw-2807 754 41 human human ADJ taxlaw-2807 754 42 capital capital NOUN taxlaw-2807 754 43 , , PUNCT taxlaw-2807 754 44 while while SCONJ taxlaw-2807 754 45 making make VERB taxlaw-2807 754 46 sensible sensible ADJ taxlaw-2807 754 47 comparisons comparison NOUN taxlaw-2807 754 48 with with ADP taxlaw-2807 754 49 respect respect NOUN taxlaw-2807 754 50 to to ADP taxlaw-2807 754 51 income income NOUN taxlaw-2807 754 52 actually actually ADV taxlaw-2807 754 53 earned earn VERB taxlaw-2807 754 54 . . PUNCT taxlaw-2807 755 1 it it PRON taxlaw-2807 755 2 is be AUX taxlaw-2807 755 3 important important ADJ taxlaw-2807 755 4 to to PART taxlaw-2807 755 5 stress stress VERB taxlaw-2807 755 6 that that SCONJ taxlaw-2807 755 7 this this DET taxlaw-2807 755 8 article article NOUN taxlaw-2807 755 9 ’s ’s PART taxlaw-2807 755 10 analysis analysis NOUN taxlaw-2807 755 11 neither neither CCONJ taxlaw-2807 755 12 advocates advocate NOUN taxlaw-2807 755 13 nor nor CCONJ taxlaw-2807 755 14 rejects reject VERB taxlaw-2807 755 15 the the DET taxlaw-2807 755 16 notion notion NOUN taxlaw-2807 755 17 that that SCONJ taxlaw-2807 755 18 personal personal ADJ taxlaw-2807 755 19 assets asset NOUN taxlaw-2807 755 20 should should AUX taxlaw-2807 755 21 be be AUX taxlaw-2807 755 22 subject subject ADJ taxlaw-2807 755 23 to to ADP taxlaw-2807 755 24 a a DET taxlaw-2807 755 25 different different ADJ taxlaw-2807 755 26 tax tax NOUN taxlaw-2807 755 27 rate rate NOUN taxlaw-2807 755 28 — — PUNCT taxlaw-2807 755 29 or or CCONJ taxlaw-2807 755 30 even even ADV taxlaw-2807 755 31 to to ADP taxlaw-2807 755 32 a a DET taxlaw-2807 755 33 form form NOUN taxlaw-2807 755 34 of of ADP taxlaw-2807 755 35 retrospective retrospective ADJ taxlaw-2807 755 36 taxation.183 taxation.183 NOUN taxlaw-2807 755 37 it it PRON taxlaw-2807 755 38 merely merely ADV taxlaw-2807 755 39 suggests suggest VERB taxlaw-2807 755 40 that that SCONJ taxlaw-2807 755 41 even even ADV taxlaw-2807 755 42 if if SCONJ taxlaw-2807 755 43 the the DET taxlaw-2807 755 44 market market NOUN taxlaw-2807 755 45 price price NOUN taxlaw-2807 755 46 of of ADP taxlaw-2807 755 47 assets asset NOUN taxlaw-2807 755 48 is be AUX taxlaw-2807 755 49 easy easy ADJ taxlaw-2807 755 50 to to PART taxlaw-2807 755 51 observe observe VERB taxlaw-2807 755 52 , , PUNCT taxlaw-2807 755 53 a a DET taxlaw-2807 755 54 mark mark NOUN taxlaw-2807 755 55 - - PUNCT taxlaw-2807 755 56 to to ADP taxlaw-2807 755 57 - - PUNCT taxlaw-2807 755 58 market market NOUN taxlaw-2807 755 59 tax tax NOUN taxlaw-2807 755 60 regime regime NOUN taxlaw-2807 755 61 should should AUX taxlaw-2807 755 62 not not PART taxlaw-2807 755 63 apply apply VERB taxlaw-2807 755 64 to to ADP taxlaw-2807 755 65 personal personal ADJ taxlaw-2807 755 66 assets asset NOUN taxlaw-2807 755 67 . . PUNCT taxlaw-2807 756 1 to to PART taxlaw-2807 756 2 accept accept VERB taxlaw-2807 756 3 our our PRON taxlaw-2807 756 4 argument argument NOUN taxlaw-2807 756 5 , , PUNCT taxlaw-2807 756 6 one one PRON taxlaw-2807 756 7 need need AUX taxlaw-2807 756 8 not not PART taxlaw-2807 756 9 subscribe subscribe VERB taxlaw-2807 756 10 to to ADP taxlaw-2807 756 11 the the DET taxlaw-2807 756 12 notion notion NOUN taxlaw-2807 756 13 that that SCONJ taxlaw-2807 756 14 realization realization NOUN taxlaw-2807 756 15 - - PUNCT taxlaw-2807 756 16 based base VERB taxlaw-2807 756 17 treatment treatment NOUN taxlaw-2807 756 18 of of ADP taxlaw-2807 756 19 personal personal ADJ taxlaw-2807 756 20 assets asset NOUN taxlaw-2807 756 21 provides provide VERB taxlaw-2807 756 22 an an DET taxlaw-2807 756 23 a a DET taxlaw-2807 756 24 priori priori ADJ taxlaw-2807 756 25 superior superior ADJ taxlaw-2807 756 26 way way NOUN taxlaw-2807 756 27 of of ADP taxlaw-2807 756 28 promoting promote VERB taxlaw-2807 756 29 income income NOUN taxlaw-2807 756 30 tax tax NOUN taxlaw-2807 756 31 progressivity progressivity NOUN taxlaw-2807 756 32 . . PUNCT taxlaw-2807 757 1 instead instead ADV taxlaw-2807 757 2 , , PUNCT taxlaw-2807 757 3 one one PRON taxlaw-2807 757 4 need need AUX taxlaw-2807 757 5 only only ADV taxlaw-2807 757 6 accept accept VERB taxlaw-2807 757 7 that that SCONJ taxlaw-2807 757 8 a a DET taxlaw-2807 757 9 mark mark NOUN taxlaw-2807 757 10 - - PUNCT taxlaw-2807 757 11 to to ADP taxlaw-2807 757 12 - - PUNCT taxlaw-2807 757 13 market market NOUN taxlaw-2807 757 14 regime regime NOUN taxlaw-2807 757 15 has have VERB taxlaw-2807 757 16 important important ADJ taxlaw-2807 757 17 benefits benefit NOUN taxlaw-2807 757 18 and and CCONJ taxlaw-2807 757 19 that that SCONJ taxlaw-2807 757 20 these these DET taxlaw-2807 757 21 benefits benefit NOUN taxlaw-2807 757 22 are be AUX taxlaw-2807 757 23 not not PART taxlaw-2807 757 24 completely completely ADV taxlaw-2807 757 25 erased erase VERB taxlaw-2807 757 26 if if SCONJ taxlaw-2807 757 27 some some DET taxlaw-2807 757 28 assets asset NOUN taxlaw-2807 757 29 are be AUX taxlaw-2807 757 30 exempt exempt ADJ taxlaw-2807 757 31 from from ADP taxlaw-2807 757 32 it it PRON taxlaw-2807 757 33 . . PUNCT taxlaw-2807 758 1 the the DET taxlaw-2807 758 2 skeptical skeptical ADJ taxlaw-2807 758 3 reader reader NOUN taxlaw-2807 758 4 should should AUX taxlaw-2807 758 5 further far ADV taxlaw-2807 758 6 agree agree VERB taxlaw-2807 758 7 that that SCONJ taxlaw-2807 758 8 , , PUNCT taxlaw-2807 758 9 given give VERB taxlaw-2807 758 10 the the DET taxlaw-2807 758 11 difficulties difficulty NOUN taxlaw-2807 758 12 of of ADP taxlaw-2807 758 13 drawing draw VERB taxlaw-2807 758 14 interpersonal interpersonal ADJ taxlaw-2807 758 15 comparisons comparison NOUN taxlaw-2807 758 16 with with ADP taxlaw-2807 758 17 respect respect NOUN taxlaw-2807 758 18 to to ADP taxlaw-2807 758 19 the the DET taxlaw-2807 758 20 market market NOUN taxlaw-2807 758 21 price price NOUN taxlaw-2807 758 22 of of ADP taxlaw-2807 758 23 personal personal ADJ taxlaw-2807 758 24 assets asset NOUN taxlaw-2807 758 25 , , PUNCT taxlaw-2807 758 26 there there PRON taxlaw-2807 758 27 are be VERB taxlaw-2807 758 28 some some DET taxlaw-2807 758 29 important important ADJ taxlaw-2807 758 30 benefits benefit NOUN taxlaw-2807 758 31 of of ADP taxlaw-2807 758 32 excluding exclude VERB taxlaw-2807 758 33 them they PRON taxlaw-2807 758 34 from from ADP taxlaw-2807 758 35 the the DET taxlaw-2807 758 36 mark mark NOUN taxlaw-2807 758 37 - - PUNCT taxlaw-2807 758 38 to to ADP taxlaw-2807 758 39 - - PUNCT taxlaw-2807 758 40 market market NOUN taxlaw-2807 758 41 regime regime NOUN taxlaw-2807 758 42 . . PUNCT taxlaw-2807 759 1 additionally additionally ADV taxlaw-2807 759 2 , , PUNCT taxlaw-2807 759 3 one one PRON taxlaw-2807 759 4 should should AUX taxlaw-2807 759 5 accept accept VERB taxlaw-2807 759 6 that that SCONJ taxlaw-2807 759 7 there there PRON taxlaw-2807 759 8 are be VERB taxlaw-2807 759 9 high high ADJ taxlaw-2807 759 10 social social ADJ taxlaw-2807 759 11 costs cost NOUN taxlaw-2807 759 12 to to PART taxlaw-2807 759 13 progressive progressive ADJ taxlaw-2807 759 14 tax tax NOUN taxlaw-2807 759 15 rate rate NOUN taxlaw-2807 759 16 structures structure NOUN taxlaw-2807 759 17 with with ADP taxlaw-2807 759 18 high high ADJ taxlaw-2807 759 19 marginal marginal ADJ taxlaw-2807 759 20 rates rate NOUN taxlaw-2807 759 21 . . PUNCT taxlaw-2807 760 1 given give VERB taxlaw-2807 760 2 these these DET taxlaw-2807 760 3 costs cost NOUN taxlaw-2807 760 4 , , PUNCT taxlaw-2807 760 5 policymakers policymaker NOUN taxlaw-2807 760 6 should should AUX taxlaw-2807 760 7 be be AUX taxlaw-2807 760 8 willing willing ADJ taxlaw-2807 760 9 to to PART taxlaw-2807 760 10 consider consider VERB taxlaw-2807 760 11 achieving achieve VERB taxlaw-2807 760 12 income income NOUN taxlaw-2807 760 13 tax tax NOUN taxlaw-2807 760 14 progressivity progressivity NOUN taxlaw-2807 760 15 through through ADP taxlaw-2807 760 16 a a DET taxlaw-2807 760 17 combination combination NOUN taxlaw-2807 760 18 of of ADP taxlaw-2807 760 19 measures measure NOUN taxlaw-2807 760 20 — — PUNCT taxlaw-2807 760 21 including include VERB taxlaw-2807 760 22 the the DET taxlaw-2807 760 23 enhancement enhancement NOUN taxlaw-2807 760 24 of of ADP taxlaw-2807 760 25 the the DET taxlaw-2807 760 26 progressivity progressivity NOUN taxlaw-2807 760 27 of of ADP taxlaw-2807 760 28 the the DET taxlaw-2807 760 29 base base NOUN taxlaw-2807 760 30 . . PUNCT taxlaw-2807 761 1 a a DET taxlaw-2807 761 2 realization realization NOUN taxlaw-2807 761 3 requirement requirement NOUN taxlaw-2807 761 4 179 179 NUM taxlaw-2807 761 5 selling sell VERB taxlaw-2807 761 6 wedding wedding NOUN taxlaw-2807 761 7 rings ring NOUN taxlaw-2807 761 8 and and CCONJ taxlaw-2807 761 9 other other ADJ taxlaw-2807 761 10 types type NOUN taxlaw-2807 761 11 of of ADP taxlaw-2807 761 12 personal personal ADJ taxlaw-2807 761 13 assets asset NOUN taxlaw-2807 761 14 could could AUX taxlaw-2807 761 15 signal signal VERB taxlaw-2807 761 16 extreme extreme ADJ taxlaw-2807 761 17 hardship hardship NOUN taxlaw-2807 761 18 , , PUNCT taxlaw-2807 761 19 so so SCONJ taxlaw-2807 761 20 it it PRON taxlaw-2807 761 21 may may AUX taxlaw-2807 761 22 be be AUX taxlaw-2807 761 23 reasonable reasonable ADJ taxlaw-2807 761 24 to to PART taxlaw-2807 761 25 exempt exempt VERB taxlaw-2807 761 26 them they PRON taxlaw-2807 761 27 altogether altogether ADV taxlaw-2807 761 28 , , PUNCT taxlaw-2807 761 29 given give VERB taxlaw-2807 761 30 that that SCONJ taxlaw-2807 761 31 the the DET taxlaw-2807 761 32 money money NOUN taxlaw-2807 761 33 received receive VERB taxlaw-2807 761 34 for for ADP taxlaw-2807 761 35 them they PRON taxlaw-2807 761 36 is be AUX taxlaw-2807 761 37 not not PART taxlaw-2807 761 38 an an DET taxlaw-2807 761 39 adequate adequate ADJ taxlaw-2807 761 40 benchmark benchmark NOUN taxlaw-2807 761 41 for for ADP taxlaw-2807 761 42 interpersonal interpersonal ADJ taxlaw-2807 761 43 comparisons comparison NOUN taxlaw-2807 761 44 for for ADP taxlaw-2807 761 45 well well ADV taxlaw-2807 761 46 - - PUNCT taxlaw-2807 761 47 being being NOUN taxlaw-2807 761 48 . . PUNCT taxlaw-2807 762 1 see see VERB taxlaw-2807 762 2 supra supra PROPN taxlaw-2807 762 3 part part PROPN taxlaw-2807 762 4 iii.b iii.b PROPN taxlaw-2807 762 5 . . PROPN taxlaw-2807 762 6 180 180 NUM taxlaw-2807 762 7 benshalom benshalom NOUN taxlaw-2807 762 8 & & CCONJ taxlaw-2807 762 9 stead stead PROPN taxlaw-2807 762 10 , , PUNCT taxlaw-2807 762 11 supra supra PROPN taxlaw-2807 762 12 note note NOUN taxlaw-2807 762 13 15 15 NUM taxlaw-2807 762 14 , , PUNCT taxlaw-2807 762 15 at at ADP taxlaw-2807 762 16 1542–49 1542–49 NUM taxlaw-2807 762 17 . . PUNCT taxlaw-2807 763 1 181 181 NUM taxlaw-2807 763 2 see see VERB taxlaw-2807 763 3 generally generally ADV taxlaw-2807 763 4 bridget bridget PROPN taxlaw-2807 763 5 j. j. PROPN taxlaw-2807 763 6 crawford crawford PROPN taxlaw-2807 763 7 , , PUNCT taxlaw-2807 763 8 taxing tax VERB taxlaw-2807 763 9 surrogacy surrogacy NOUN taxlaw-2807 763 10 , , PUNCT taxlaw-2807 763 11 social social ADJ taxlaw-2807 763 12 science science NOUN taxlaw-2807 763 13 research research NOUN taxlaw-2807 763 14 network network NOUN taxlaw-2807 763 15 ( ( PUNCT taxlaw-2807 763 16 aug aug PROPN taxlaw-2807 763 17 . . PROPN taxlaw-2807 763 18 30 30 NUM taxlaw-2807 763 19 , , PUNCT taxlaw-2807 763 20 2009 2009 NUM taxlaw-2807 763 21 ) ) PUNCT taxlaw-2807 763 22 , , PUNCT taxlaw-2807 763 23 http://ssrn.com/paper=1422180 http://ssrn.com/paper=1422180 PROPN taxlaw-2807 763 24 ( ( PUNCT taxlaw-2807 763 25 making make VERB taxlaw-2807 763 26 the the DET taxlaw-2807 763 27 case case NOUN taxlaw-2807 763 28 for for ADP taxlaw-2807 763 29 taxing tax VERB taxlaw-2807 763 30 surrogacy surrogacy NOUN taxlaw-2807 763 31 ) ) PUNCT taxlaw-2807 763 32 . . PUNCT taxlaw-2807 764 1 it it PRON taxlaw-2807 764 2 is be AUX taxlaw-2807 764 3 true true ADJ taxlaw-2807 764 4 that that SCONJ taxlaw-2807 764 5 the the DET taxlaw-2807 764 6 decision decision NOUN taxlaw-2807 764 7 to to PART taxlaw-2807 764 8 work work VERB taxlaw-2807 764 9 as as ADP taxlaw-2807 764 10 a a DET taxlaw-2807 764 11 surrogate surrogate NOUN taxlaw-2807 764 12 may may AUX taxlaw-2807 764 13 not not PART taxlaw-2807 764 14 be be AUX taxlaw-2807 764 15 random random ADJ taxlaw-2807 764 16 — — PUNCT taxlaw-2807 764 17 but but CCONJ taxlaw-2807 764 18 rather rather ADV taxlaw-2807 764 19 an an DET taxlaw-2807 764 20 option option NOUN taxlaw-2807 764 21 chosen choose VERB taxlaw-2807 764 22 particularly particularly ADV taxlaw-2807 764 23 by by ADP taxlaw-2807 764 24 non non ADJ taxlaw-2807 764 25 - - ADJ taxlaw-2807 764 26 affluent affluent ADJ taxlaw-2807 764 27 women woman NOUN taxlaw-2807 764 28 . . PUNCT taxlaw-2807 765 1 debora debora PROPN taxlaw-2807 765 2 l. l. PROPN taxlaw-2807 765 3 spar spar PROPN taxlaw-2807 765 4 , , PUNCT taxlaw-2807 765 5 the the DET taxlaw-2807 765 6 baby baby NOUN taxlaw-2807 765 7 business business NOUN taxlaw-2807 765 8 : : PUNCT taxlaw-2807 765 9 how how SCONJ taxlaw-2807 765 10 money money NOUN taxlaw-2807 765 11 , , PUNCT taxlaw-2807 765 12 science science NOUN taxlaw-2807 765 13 , , PUNCT taxlaw-2807 765 14 and and CCONJ taxlaw-2807 765 15 politics politic NOUN taxlaw-2807 765 16 drive drive VERB taxlaw-2807 765 17 the the DET taxlaw-2807 765 18 commerce commerce NOUN taxlaw-2807 765 19 of of ADP taxlaw-2807 765 20 conception conception NOUN taxlaw-2807 765 21 73 73 NUM taxlaw-2807 765 22 ( ( PUNCT taxlaw-2807 765 23 2006 2006 NUM taxlaw-2807 765 24 ) ) PUNCT taxlaw-2807 765 25 . . PUNCT taxlaw-2807 766 1 furthermore furthermore ADV taxlaw-2807 766 2 , , PUNCT taxlaw-2807 766 3 while while SCONJ taxlaw-2807 766 4 personal personal ADJ taxlaw-2807 766 5 preferences preference NOUN taxlaw-2807 766 6 play play VERB taxlaw-2807 766 7 a a DET taxlaw-2807 766 8 role role NOUN taxlaw-2807 766 9 in in ADP taxlaw-2807 766 10 every every DET taxlaw-2807 766 11 employment employment NOUN taxlaw-2807 766 12 decision decision NOUN taxlaw-2807 766 13 , , PUNCT taxlaw-2807 766 14 certain certain ADJ taxlaw-2807 766 15 jobs job NOUN taxlaw-2807 766 16 ( ( PUNCT taxlaw-2807 766 17 e.g. e.g. ADV taxlaw-2807 766 18 , , PUNCT taxlaw-2807 766 19 migrant migrant ADJ taxlaw-2807 766 20 labor labor NOUN taxlaw-2807 766 21 ) ) PUNCT taxlaw-2807 766 22 and and CCONJ taxlaw-2807 766 23 economic economic ADJ taxlaw-2807 766 24 decisions decision NOUN taxlaw-2807 766 25 ( ( PUNCT taxlaw-2807 766 26 e.g. e.g. ADV taxlaw-2807 766 27 , , PUNCT taxlaw-2807 766 28 selling sell VERB taxlaw-2807 766 29 body body NOUN taxlaw-2807 766 30 organs organ NOUN taxlaw-2807 766 31 ) ) PUNCT taxlaw-2807 766 32 are be AUX taxlaw-2807 766 33 held hold VERB taxlaw-2807 766 34 or or CCONJ taxlaw-2807 766 35 made make VERB taxlaw-2807 766 36 only only ADV taxlaw-2807 766 37 by by ADP taxlaw-2807 766 38 very very ADV taxlaw-2807 766 39 poor poor ADJ taxlaw-2807 766 40 people people NOUN taxlaw-2807 766 41 . . PUNCT taxlaw-2807 767 1 e.g. e.g. ADV taxlaw-2807 767 2 , , PUNCT taxlaw-2807 767 3 catherine catherine PROPN taxlaw-2807 767 4 waldby waldby PROPN taxlaw-2807 767 5 & & CCONJ taxlaw-2807 767 6 robert robert PROPN taxlaw-2807 767 7 mitchell mitchell PROPN taxlaw-2807 767 8 , , PUNCT taxlaw-2807 767 9 tissue tissue NOUN taxlaw-2807 767 10 economies economy NOUN taxlaw-2807 767 11 : : PUNCT taxlaw-2807 767 12 blood blood NOUN taxlaw-2807 767 13 , , PUNCT taxlaw-2807 767 14 organs organ NOUN taxlaw-2807 767 15 , , PUNCT taxlaw-2807 767 16 and and CCONJ taxlaw-2807 767 17 cell cell NOUN taxlaw-2807 767 18 lines line NOUN taxlaw-2807 767 19 in in ADP taxlaw-2807 767 20 late late ADJ taxlaw-2807 767 21 capitalism capitalism NOUN taxlaw-2807 767 22 161 161 NUM taxlaw-2807 767 23 ( ( PUNCT taxlaw-2807 767 24 2006 2006 NUM taxlaw-2807 767 25 ) ) PUNCT taxlaw-2807 767 26 . . PUNCT taxlaw-2807 767 27 182 182 NUM taxlaw-2807 767 28 see see VERB taxlaw-2807 767 29 generally generally ADV taxlaw-2807 767 30 brian brian PROPN taxlaw-2807 767 31 galle galle PROPN taxlaw-2807 767 32 , , PUNCT taxlaw-2807 767 33 tax tax NOUN taxlaw-2807 767 34 fairness fairness NOUN taxlaw-2807 767 35 , , PUNCT taxlaw-2807 767 36 65 65 NUM taxlaw-2807 767 37 wash wash NOUN taxlaw-2807 767 38 . . PUNCT taxlaw-2807 767 39 & & CCONJ taxlaw-2807 767 40 lee lee PROPN taxlaw-2807 767 41 l. l. PROPN taxlaw-2807 767 42 rev rev PROPN taxlaw-2807 767 43 . . PROPN taxlaw-2807 767 44 1323 1323 NUM taxlaw-2807 767 45 , , PUNCT taxlaw-2807 767 46 1327 1327 NUM taxlaw-2807 767 47 ( ( PUNCT taxlaw-2807 767 48 2008 2008 NUM taxlaw-2807 767 49 ) ) PUNCT taxlaw-2807 767 50 ( ( PUNCT taxlaw-2807 767 51 arguing argue VERB taxlaw-2807 767 52 that that SCONJ taxlaw-2807 767 53 fairness fairness NOUN taxlaw-2807 767 54 prescribes prescribe VERB taxlaw-2807 767 55 taxing tax VERB taxlaw-2807 767 56 different different ADJ taxlaw-2807 767 57 sources source NOUN taxlaw-2807 767 58 of of ADP taxlaw-2807 767 59 income income NOUN taxlaw-2807 767 60 equally equally ADV taxlaw-2807 767 61 ) ) PUNCT taxlaw-2807 767 62 . . PUNCT taxlaw-2807 768 1 183 183 NUM taxlaw-2807 768 2 for for ADP taxlaw-2807 768 3 discussion discussion NOUN taxlaw-2807 768 4 of of ADP taxlaw-2807 768 5 retrospective retrospective ADJ taxlaw-2807 768 6 taxation taxation NOUN taxlaw-2807 768 7 , , PUNCT taxlaw-2807 768 8 see see VERB taxlaw-2807 768 9 supra supra PROPN taxlaw-2807 768 10 note note PROPN taxlaw-2807 768 11 70 70 NUM taxlaw-2807 768 12 . . PUNCT taxlaw-2807 769 1 retrospective retrospective ADJ taxlaw-2807 769 2 taxation taxation NOUN taxlaw-2807 769 3 would would AUX taxlaw-2807 769 4 reduce reduce VERB taxlaw-2807 769 5 the the DET taxlaw-2807 769 6 value value NOUN taxlaw-2807 769 7 of of ADP taxlaw-2807 769 8 deferral deferral ADJ taxlaw-2807 769 9 and and CCONJ taxlaw-2807 769 10 would would AUX taxlaw-2807 769 11 de de X taxlaw-2807 769 12 facto facto X taxlaw-2807 769 13 impose impose VERB taxlaw-2807 769 14 a a DET taxlaw-2807 769 15 higher high ADJ taxlaw-2807 769 16 effective effective ADJ taxlaw-2807 769 17 rate rate NOUN taxlaw-2807 769 18 on on ADP taxlaw-2807 769 19 realized realize VERB taxlaw-2807 769 20 personal personal ADJ taxlaw-2807 769 21 assets asset NOUN taxlaw-2807 769 22 . . PUNCT taxlaw-2807 770 1 therefore therefore ADV taxlaw-2807 770 2 , , PUNCT taxlaw-2807 770 3 because because SCONJ taxlaw-2807 770 4 this this DET taxlaw-2807 770 5 article article NOUN taxlaw-2807 770 6 does do AUX taxlaw-2807 770 7 not not PART taxlaw-2807 770 8 discuss discuss VERB taxlaw-2807 770 9 what what PRON taxlaw-2807 770 10 the the DET taxlaw-2807 770 11 effective effective ADJ taxlaw-2807 770 12 tax tax NOUN taxlaw-2807 770 13 rate rate NOUN taxlaw-2807 770 14 on on ADP taxlaw-2807 770 15 personal personal ADJ taxlaw-2807 770 16 assets asset NOUN taxlaw-2807 770 17 should should AUX taxlaw-2807 770 18 be be AUX taxlaw-2807 770 19 , , PUNCT taxlaw-2807 770 20 we we PRON taxlaw-2807 770 21 leave leave VERB taxlaw-2807 770 22 the the DET taxlaw-2807 770 23 question question NOUN taxlaw-2807 770 24 of of ADP taxlaw-2807 770 25 retrospective retrospective ADJ taxlaw-2807 770 26 taxation taxation NOUN taxlaw-2807 770 27 , , PUNCT taxlaw-2807 770 28 its its PRON taxlaw-2807 770 29 theoretical theoretical ADJ taxlaw-2807 770 30 justifications justification NOUN taxlaw-2807 770 31 and and CCONJ taxlaw-2807 770 32 political political ADJ taxlaw-2807 770 33 viability viability NOUN taxlaw-2807 770 34 , , PUNCT taxlaw-2807 770 35 for for ADP taxlaw-2807 770 36 a a DET taxlaw-2807 770 37 future future ADJ taxlaw-2807 770 38 paper paper NOUN taxlaw-2807 770 39 . . PUNCT taxlaw-2807 771 1 78 78 NUM taxlaw-2807 771 2 columbia columbia PROPN taxlaw-2807 771 3 journal journal PROPN taxlaw-2807 771 4 of of ADP taxlaw-2807 771 5 tax tax NOUN taxlaw-2807 771 6 law law NOUN taxlaw-2807 772 1 [ [ X taxlaw-2807 772 2 vol.3:43 vol.3:43 PROPN taxlaw-2807 772 3 that that PRON taxlaw-2807 772 4 is be AUX taxlaw-2807 772 5 confined confine VERB taxlaw-2807 772 6 to to ADP taxlaw-2807 772 7 personal personal ADJ taxlaw-2807 772 8 assets asset NOUN taxlaw-2807 772 9 would would AUX taxlaw-2807 772 10 provide provide VERB taxlaw-2807 772 11 a a DET taxlaw-2807 772 12 tax tax NOUN taxlaw-2807 772 13 benefit benefit NOUN taxlaw-2807 772 14 , , PUNCT taxlaw-2807 772 15 which which PRON taxlaw-2807 772 16 would would AUX taxlaw-2807 772 17 erode erode VERB taxlaw-2807 772 18 the the DET taxlaw-2807 772 19 theoretical theoretical ADJ taxlaw-2807 772 20 ideal ideal ADJ taxlaw-2807 772 21 income income NOUN taxlaw-2807 772 22 tax tax NOUN taxlaw-2807 772 23 base base NOUN taxlaw-2807 772 24 but but CCONJ taxlaw-2807 772 25 would would AUX taxlaw-2807 772 26 do do VERB taxlaw-2807 772 27 so so ADV taxlaw-2807 772 28 in in ADP taxlaw-2807 772 29 an an DET taxlaw-2807 772 30 overall overall ADJ taxlaw-2807 772 31 progressive progressive ADJ taxlaw-2807 772 32 way way NOUN taxlaw-2807 772 33 . . PUNCT taxlaw-2807 773 1 the the DET taxlaw-2807 773 2 conclusion conclusion NOUN taxlaw-2807 773 3 of of ADP taxlaw-2807 773 4 this this DET taxlaw-2807 773 5 analysis analysis NOUN taxlaw-2807 773 6 is be AUX taxlaw-2807 773 7 that that SCONJ taxlaw-2807 773 8 there there PRON taxlaw-2807 773 9 is be VERB taxlaw-2807 773 10 a a DET taxlaw-2807 773 11 strong strong ADJ taxlaw-2807 773 12 normative normative ADJ taxlaw-2807 773 13 argument argument NOUN taxlaw-2807 773 14 for for ADP taxlaw-2807 773 15 shifting shift VERB taxlaw-2807 773 16 the the DET taxlaw-2807 773 17 current current ADJ taxlaw-2807 773 18 realization realization NOUN taxlaw-2807 773 19 - - PUNCT taxlaw-2807 773 20 based base VERB taxlaw-2807 773 21 income income NOUN taxlaw-2807 773 22 tax tax NOUN taxlaw-2807 773 23 system system NOUN taxlaw-2807 773 24 towards towards ADP taxlaw-2807 773 25 a a DET taxlaw-2807 773 26 decidedly decidedly ADV taxlaw-2807 773 27 more more ADJ taxlaw-2807 773 28 hybrid hybrid ADJ taxlaw-2807 773 29 regime regime NOUN taxlaw-2807 773 30 . . PUNCT taxlaw-2807 774 1 this this DET taxlaw-2807 774 2 hybrid hybrid ADJ taxlaw-2807 774 3 system system NOUN taxlaw-2807 774 4 would would AUX taxlaw-2807 774 5 distinguish distinguish VERB taxlaw-2807 774 6 between between ADP taxlaw-2807 774 7 personal personal ADJ taxlaw-2807 774 8 assets asset NOUN taxlaw-2807 774 9 , , PUNCT taxlaw-2807 774 10 which which PRON taxlaw-2807 774 11 would would AUX taxlaw-2807 774 12 be be AUX taxlaw-2807 774 13 taxed tax VERB taxlaw-2807 774 14 upon upon SCONJ taxlaw-2807 774 15 realization realization NOUN taxlaw-2807 774 16 , , PUNCT taxlaw-2807 774 17 and and CCONJ taxlaw-2807 774 18 emotionally emotionally ADV taxlaw-2807 774 19 fungible fungible ADJ taxlaw-2807 774 20 assets asset NOUN taxlaw-2807 774 21 ( ( PUNCT taxlaw-2807 774 22 namely namely ADV taxlaw-2807 774 23 , , PUNCT taxlaw-2807 774 24 investment investment NOUN taxlaw-2807 774 25 assets asset NOUN taxlaw-2807 774 26 ) ) PUNCT taxlaw-2807 774 27 , , PUNCT taxlaw-2807 774 28 which which PRON taxlaw-2807 774 29 would would AUX taxlaw-2807 774 30 be be AUX taxlaw-2807 774 31 taxed tax VERB taxlaw-2807 774 32 under under ADP taxlaw-2807 774 33 a a DET taxlaw-2807 774 34 mark mark NOUN taxlaw-2807 774 35 - - PUNCT taxlaw-2807 774 36 to to ADP taxlaw-2807 774 37 - - PUNCT taxlaw-2807 774 38 market market NOUN taxlaw-2807 774 39 regime regime NOUN taxlaw-2807 774 40 . . PUNCT taxlaw-2807 775 1 such such DET taxlaw-2807 775 2 a a DET taxlaw-2807 775 3 tax tax NOUN taxlaw-2807 775 4 regime regime NOUN taxlaw-2807 775 5 would would AUX taxlaw-2807 775 6 broaden broaden VERB taxlaw-2807 775 7 the the DET taxlaw-2807 775 8 tax tax NOUN taxlaw-2807 775 9 base base NOUN taxlaw-2807 775 10 to to PART taxlaw-2807 775 11 include include VERB taxlaw-2807 775 12 almost almost ADV taxlaw-2807 775 13 all all PRON taxlaw-2807 775 14 investment investment NOUN taxlaw-2807 775 15 assets asset NOUN taxlaw-2807 775 16 and and CCONJ taxlaw-2807 775 17 would would AUX taxlaw-2807 775 18 make make VERB taxlaw-2807 775 19 the the DET taxlaw-2807 775 20 income income NOUN taxlaw-2807 775 21 tax tax NOUN taxlaw-2807 775 22 more more ADV taxlaw-2807 775 23 progressive progressive ADJ taxlaw-2807 775 24 , , PUNCT taxlaw-2807 775 25 efficient efficient ADJ taxlaw-2807 775 26 , , PUNCT taxlaw-2807 775 27 and and CCONJ taxlaw-2807 775 28 resistant resistant ADJ taxlaw-2807 775 29 to to ADP taxlaw-2807 775 30 tax tax NOUN taxlaw-2807 775 31 planning planning NOUN taxlaw-2807 775 32 . . PUNCT taxlaw-2807 776 1 despite despite SCONJ taxlaw-2807 776 2 the the DET taxlaw-2807 776 3 above above NOUN taxlaw-2807 776 4 , , PUNCT taxlaw-2807 776 5 critics critic NOUN taxlaw-2807 776 6 may may AUX taxlaw-2807 776 7 legitimately legitimately ADV taxlaw-2807 776 8 argue argue VERB taxlaw-2807 776 9 that that SCONJ taxlaw-2807 776 10 there there PRON taxlaw-2807 776 11 are be VERB taxlaw-2807 776 12 other other ADJ taxlaw-2807 776 13 , , PUNCT taxlaw-2807 776 14 theoretically theoretically ADV taxlaw-2807 776 15 superior superior ADJ taxlaw-2807 776 16 , , PUNCT taxlaw-2807 776 17 ways way NOUN taxlaw-2807 776 18 of of ADP taxlaw-2807 776 19 promoting promote VERB taxlaw-2807 776 20 tax tax NOUN taxlaw-2807 776 21 progressivity progressivity NOUN taxlaw-2807 776 22 . . PUNCT taxlaw-2807 777 1 nevertheless nevertheless ADV taxlaw-2807 777 2 , , PUNCT taxlaw-2807 777 3 we we PRON taxlaw-2807 777 4 argue argue VERB taxlaw-2807 777 5 two two NUM taxlaw-2807 777 6 things thing NOUN taxlaw-2807 777 7 . . PUNCT taxlaw-2807 778 1 first first ADV taxlaw-2807 778 2 , , PUNCT taxlaw-2807 778 3 as as SCONJ taxlaw-2807 778 4 we we PRON taxlaw-2807 778 5 stress stress VERB taxlaw-2807 778 6 in in ADP taxlaw-2807 778 7 this this DET taxlaw-2807 778 8 subpart subpart NOUN taxlaw-2807 778 9 , , PUNCT taxlaw-2807 778 10 every every DET taxlaw-2807 778 11 tax tax NOUN taxlaw-2807 778 12 ( ( PUNCT taxlaw-2807 778 13 and and CCONJ taxlaw-2807 778 14 transfer transfer VERB taxlaw-2807 778 15 ) ) PUNCT taxlaw-2807 778 16 distributive distributive ADJ taxlaw-2807 778 17 scheme scheme NOUN taxlaw-2807 778 18 involves involve VERB taxlaw-2807 778 19 certain certain ADJ taxlaw-2807 778 20 social social ADJ taxlaw-2807 778 21 costs,184 costs,184 NOUN taxlaw-2807 778 22 so so SCONJ taxlaw-2807 778 23 that that SCONJ taxlaw-2807 778 24 the the DET taxlaw-2807 778 25 optimal optimal ADJ taxlaw-2807 778 26 redistributive redistributive ADJ taxlaw-2807 778 27 policy policy NOUN taxlaw-2807 778 28 may may AUX taxlaw-2807 778 29 require require VERB taxlaw-2807 778 30 using use VERB taxlaw-2807 778 31 different different ADJ taxlaw-2807 778 32 elements element NOUN taxlaw-2807 778 33 rather rather ADV taxlaw-2807 778 34 than than ADP taxlaw-2807 778 35 relying rely VERB taxlaw-2807 778 36 on on ADP taxlaw-2807 778 37 a a DET taxlaw-2807 778 38 few few ADJ taxlaw-2807 778 39 of of ADP taxlaw-2807 778 40 them they PRON taxlaw-2807 778 41 extensively extensively ADV taxlaw-2807 778 42 . . PUNCT taxlaw-2807 779 1 second second ADJ taxlaw-2807 779 2 , , PUNCT taxlaw-2807 779 3 as as SCONJ taxlaw-2807 779 4 the the DET taxlaw-2807 779 5 next next ADJ taxlaw-2807 779 6 part part NOUN taxlaw-2807 779 7 suggests suggest VERB taxlaw-2807 779 8 , , PUNCT taxlaw-2807 779 9 tax tax NOUN taxlaw-2807 779 10 policy policy NOUN taxlaw-2807 779 11 should should AUX taxlaw-2807 779 12 be be AUX taxlaw-2807 779 13 pragmatic pragmatic ADJ taxlaw-2807 779 14 and and CCONJ taxlaw-2807 779 15 not not PART taxlaw-2807 779 16 merely merely ADV taxlaw-2807 779 17 theoretically theoretically ADV taxlaw-2807 779 18 correct correct ADJ taxlaw-2807 779 19 . . PUNCT taxlaw-2807 780 1 the the DET taxlaw-2807 780 2 potential potential ADJ taxlaw-2807 780 3 shift shift NOUN taxlaw-2807 780 4 to to ADP taxlaw-2807 780 5 a a DET taxlaw-2807 780 6 more more ADV taxlaw-2807 780 7 hybrid hybrid ADJ taxlaw-2807 780 8 income income NOUN taxlaw-2807 780 9 tax tax NOUN taxlaw-2807 780 10 regime regime NOUN taxlaw-2807 780 11 involves involve VERB taxlaw-2807 780 12 a a DET taxlaw-2807 780 13 number number NOUN taxlaw-2807 780 14 of of ADP taxlaw-2807 780 15 complicated complicated ADJ taxlaw-2807 780 16 issues issue NOUN taxlaw-2807 780 17 . . PUNCT taxlaw-2807 781 1 hence hence ADV taxlaw-2807 781 2 , , PUNCT taxlaw-2807 781 3 the the DET taxlaw-2807 781 4 normative normative ADJ taxlaw-2807 781 5 justification justification NOUN taxlaw-2807 781 6 for for ADP taxlaw-2807 781 7 a a DET taxlaw-2807 781 8 hybrid hybrid ADJ taxlaw-2807 781 9 tax tax NOUN taxlaw-2807 781 10 regime regime NOUN taxlaw-2807 781 11 does do AUX taxlaw-2807 781 12 not not PART taxlaw-2807 781 13 automatically automatically ADV taxlaw-2807 781 14 justify justify VERB taxlaw-2807 781 15 an an DET taxlaw-2807 781 16 actual actual ADJ taxlaw-2807 781 17 shift shift NOUN taxlaw-2807 781 18 to to ADP taxlaw-2807 781 19 such such DET taxlaw-2807 781 20 a a DET taxlaw-2807 781 21 system system NOUN taxlaw-2807 781 22 . . PUNCT taxlaw-2807 782 1 the the DET taxlaw-2807 782 2 next next ADJ taxlaw-2807 782 3 part part NOUN taxlaw-2807 782 4 discusses discuss VERB taxlaw-2807 782 5 how how SCONJ taxlaw-2807 782 6 our our PRON taxlaw-2807 782 7 proposal proposal NOUN taxlaw-2807 782 8 could could AUX taxlaw-2807 782 9 help help VERB taxlaw-2807 782 10 establish establish VERB taxlaw-2807 782 11 a a DET taxlaw-2807 782 12 better well ADJ taxlaw-2807 782 13 , , PUNCT taxlaw-2807 782 14 more more ADV taxlaw-2807 782 15 progressive progressive ADJ taxlaw-2807 782 16 tax tax NOUN taxlaw-2807 782 17 system system NOUN taxlaw-2807 782 18 that that PRON taxlaw-2807 782 19 would would AUX taxlaw-2807 782 20 not not PART taxlaw-2807 782 21 require require VERB taxlaw-2807 782 22 a a DET taxlaw-2807 782 23 complete complete ADJ taxlaw-2807 782 24 overhaul overhaul NOUN taxlaw-2807 782 25 of of ADP taxlaw-2807 782 26 the the DET taxlaw-2807 782 27 existing exist VERB taxlaw-2807 782 28 income income NOUN taxlaw-2807 782 29 tax tax NOUN taxlaw-2807 782 30 . . PUNCT taxlaw-2807 783 1 iv iv X taxlaw-2807 783 2 . . PUNCT taxlaw-2807 784 1 the the DET taxlaw-2807 784 2 road road NOUN taxlaw-2807 784 3 ahead ahead ADV taxlaw-2807 784 4 — — PUNCT taxlaw-2807 784 5 preliminary preliminary ADJ taxlaw-2807 784 6 policy policy NOUN taxlaw-2807 784 7 implications implication NOUN taxlaw-2807 784 8 this this DET taxlaw-2807 784 9 part part NOUN taxlaw-2807 784 10 examines examine VERB taxlaw-2807 784 11 how how SCONJ taxlaw-2807 784 12 this this DET taxlaw-2807 784 13 article article NOUN taxlaw-2807 784 14 ’s ’s PART taxlaw-2807 784 15 normative normative ADJ taxlaw-2807 784 16 analysis analysis NOUN taxlaw-2807 784 17 could could AUX taxlaw-2807 784 18 be be AUX taxlaw-2807 784 19 meaningfully meaningfully ADV taxlaw-2807 784 20 integrated integrate VERB taxlaw-2807 784 21 into into ADP taxlaw-2807 784 22 current current ADJ taxlaw-2807 784 23 tax tax NOUN taxlaw-2807 784 24 arrangements arrangement NOUN taxlaw-2807 784 25 . . PUNCT taxlaw-2807 785 1 taking take VERB taxlaw-2807 785 2 a a DET taxlaw-2807 785 3 radically radically ADV taxlaw-2807 785 4 different different ADJ taxlaw-2807 785 5 view view NOUN taxlaw-2807 785 6 of of ADP taxlaw-2807 785 7 realization realization NOUN taxlaw-2807 785 8 , , PUNCT taxlaw-2807 785 9 this this DET taxlaw-2807 785 10 article article NOUN taxlaw-2807 785 11 offers offer VERB taxlaw-2807 785 12 only only ADV taxlaw-2807 785 13 the the DET taxlaw-2807 785 14 foundational foundational ADJ taxlaw-2807 785 15 normative normative ADJ taxlaw-2807 785 16 argument argument NOUN taxlaw-2807 785 17 for for ADP taxlaw-2807 785 18 a a DET taxlaw-2807 785 19 hybrid hybrid ADJ taxlaw-2807 785 20 income income NOUN taxlaw-2807 785 21 tax tax NOUN taxlaw-2807 785 22 regime regime NOUN taxlaw-2807 785 23 . . PUNCT taxlaw-2807 786 1 it it PRON taxlaw-2807 786 2 is be AUX taxlaw-2807 786 3 part part NOUN taxlaw-2807 786 4 of of ADP taxlaw-2807 786 5 a a DET taxlaw-2807 786 6 much much ADV taxlaw-2807 786 7 broader broad ADJ taxlaw-2807 786 8 project project NOUN taxlaw-2807 786 9 that that PRON taxlaw-2807 786 10 seeks seek VERB taxlaw-2807 786 11 to to PART taxlaw-2807 786 12 re re VERB taxlaw-2807 786 13 - - VERB taxlaw-2807 786 14 examine examine VERB taxlaw-2807 786 15 how how SCONJ taxlaw-2807 786 16 a a DET taxlaw-2807 786 17 more more ADV taxlaw-2807 786 18 progressive progressive ADJ taxlaw-2807 786 19 and and CCONJ taxlaw-2807 786 20 efficient efficient ADJ taxlaw-2807 786 21 income income NOUN taxlaw-2807 786 22 tax tax NOUN taxlaw-2807 786 23 base base NOUN taxlaw-2807 786 24 should should AUX taxlaw-2807 786 25 be be AUX taxlaw-2807 786 26 structured structure VERB taxlaw-2807 786 27 , , PUNCT taxlaw-2807 786 28 so so CCONJ taxlaw-2807 786 29 a a DET taxlaw-2807 786 30 detailed detailed ADJ taxlaw-2807 786 31 policy policy NOUN taxlaw-2807 786 32 proposal proposal NOUN taxlaw-2807 786 33 lies lie VERB taxlaw-2807 786 34 beyond beyond ADP taxlaw-2807 786 35 the the DET taxlaw-2807 786 36 scope scope NOUN taxlaw-2807 786 37 of of ADP taxlaw-2807 786 38 the the DET taxlaw-2807 786 39 current current ADJ taxlaw-2807 786 40 analysis analysis NOUN taxlaw-2807 786 41 . . PUNCT taxlaw-2807 787 1 instead instead ADV taxlaw-2807 787 2 , , PUNCT taxlaw-2807 787 3 the the DET taxlaw-2807 787 4 discussion discussion NOUN taxlaw-2807 787 5 below below ADP taxlaw-2807 787 6 seeks seek VERB taxlaw-2807 787 7 to to PART taxlaw-2807 787 8 draw draw VERB taxlaw-2807 787 9 attention attention NOUN taxlaw-2807 787 10 to to ADP taxlaw-2807 787 11 two two NUM taxlaw-2807 787 12 major major ADJ taxlaw-2807 787 13 points point NOUN taxlaw-2807 787 14 . . PUNCT taxlaw-2807 788 1 first first ADV taxlaw-2807 788 2 , , PUNCT taxlaw-2807 788 3 it it PRON taxlaw-2807 788 4 briefly briefly ADV taxlaw-2807 788 5 explains explain VERB taxlaw-2807 788 6 how how SCONJ taxlaw-2807 788 7 our our PRON taxlaw-2807 788 8 argument argument NOUN taxlaw-2807 788 9 supports support VERB taxlaw-2807 788 10 a a DET taxlaw-2807 788 11 concrete concrete ADJ taxlaw-2807 788 12 and and CCONJ taxlaw-2807 788 13 immediate immediate ADJ taxlaw-2807 788 14 change change NOUN taxlaw-2807 788 15 in in ADP taxlaw-2807 788 16 the the DET taxlaw-2807 788 17 current current ADJ taxlaw-2807 788 18 tax tax NOUN taxlaw-2807 788 19 regime regime NOUN taxlaw-2807 788 20 — — PUNCT taxlaw-2807 788 21 the the DET taxlaw-2807 788 22 taxation taxation NOUN taxlaw-2807 788 23 of of ADP taxlaw-2807 788 24 all all DET taxlaw-2807 788 25 investment investment NOUN taxlaw-2807 788 26 assets asset NOUN taxlaw-2807 788 27 on on ADP taxlaw-2807 788 28 a a DET taxlaw-2807 788 29 mark mark NOUN taxlaw-2807 788 30 - - PUNCT taxlaw-2807 788 31 to to ADP taxlaw-2807 788 32 - - PUNCT taxlaw-2807 788 33 market market NOUN taxlaw-2807 788 34 basis basis NOUN taxlaw-2807 788 35 . . PUNCT taxlaw-2807 789 1 this this DET taxlaw-2807 789 2 proposal proposal NOUN taxlaw-2807 789 3 ’s ’s PART taxlaw-2807 789 4 main main ADJ taxlaw-2807 789 5 benefits benefit NOUN taxlaw-2807 789 6 are be AUX taxlaw-2807 789 7 that that SCONJ taxlaw-2807 789 8 it it PRON taxlaw-2807 789 9 broadens broaden VERB taxlaw-2807 789 10 the the DET taxlaw-2807 789 11 income income NOUN taxlaw-2807 789 12 tax tax NOUN taxlaw-2807 789 13 base base NOUN taxlaw-2807 789 14 while while SCONJ taxlaw-2807 789 15 expanding expand VERB taxlaw-2807 789 16 its its PRON taxlaw-2807 789 17 progressivity progressivity NOUN taxlaw-2807 789 18 , , PUNCT taxlaw-2807 789 19 it it PRON taxlaw-2807 789 20 does do AUX taxlaw-2807 789 21 not not PART taxlaw-2807 789 22 increase increase VERB taxlaw-2807 789 23 complexity complexity NOUN taxlaw-2807 789 24 because because SCONJ taxlaw-2807 789 25 our our PRON taxlaw-2807 789 26 current current ADJ taxlaw-2807 789 27 income income NOUN taxlaw-2807 789 28 tax tax NOUN taxlaw-2807 789 29 regime regime NOUN taxlaw-2807 789 30 already already ADV taxlaw-2807 789 31 distinguishes distinguish VERB taxlaw-2807 789 32 investment investment NOUN taxlaw-2807 789 33 assets asset NOUN taxlaw-2807 789 34 and and CCONJ taxlaw-2807 789 35 applies apply VERB taxlaw-2807 789 36 special special ADJ taxlaw-2807 789 37 rules rule NOUN taxlaw-2807 789 38 to to ADP taxlaw-2807 789 39 them they PRON taxlaw-2807 789 40 , , PUNCT taxlaw-2807 789 41 and and CCONJ taxlaw-2807 789 42 it it PRON taxlaw-2807 789 43 reduces reduce VERB taxlaw-2807 789 44 much much ADJ taxlaw-2807 789 45 of of ADP taxlaw-2807 789 46 the the DET taxlaw-2807 789 47 manipulation manipulation NOUN taxlaw-2807 789 48 and and CCONJ taxlaw-2807 789 49 economic economic ADJ taxlaw-2807 789 50 dead dead ADJ taxlaw-2807 789 51 weight weight NOUN taxlaw-2807 789 52 loss loss NOUN taxlaw-2807 789 53 associated associate VERB taxlaw-2807 789 54 with with ADP taxlaw-2807 789 55 the the DET taxlaw-2807 789 56 realization realization NOUN taxlaw-2807 789 57 requirement requirement NOUN taxlaw-2807 789 58 . . PUNCT taxlaw-2807 790 1 put put VERB taxlaw-2807 790 2 differently differently ADV taxlaw-2807 790 3 , , PUNCT taxlaw-2807 790 4 this this DET taxlaw-2807 790 5 article article NOUN taxlaw-2807 790 6 ’s ’s PART taxlaw-2807 790 7 proposal proposal NOUN taxlaw-2807 790 8 builds build VERB taxlaw-2807 790 9 on on ADP taxlaw-2807 790 10 a a DET taxlaw-2807 790 11 distinction distinction NOUN taxlaw-2807 790 12 already already ADV taxlaw-2807 790 13 made make VERB taxlaw-2807 790 14 by by ADP taxlaw-2807 790 15 the the DET taxlaw-2807 790 16 current current ADJ taxlaw-2807 790 17 realizationbased realizationbase VERB taxlaw-2807 790 18 income income NOUN taxlaw-2807 790 19 tax tax NOUN taxlaw-2807 790 20 regime regime NOUN taxlaw-2807 790 21 but but CCONJ taxlaw-2807 790 22 derives derive VERB taxlaw-2807 790 23 more more ADJ taxlaw-2807 790 24 value value NOUN taxlaw-2807 790 25 from from ADP taxlaw-2807 790 26 it it PRON taxlaw-2807 790 27 without without ADP taxlaw-2807 790 28 adding add VERB taxlaw-2807 790 29 much much ADJ taxlaw-2807 790 30 complexity complexity NOUN taxlaw-2807 790 31 to to ADP taxlaw-2807 790 32 the the DET taxlaw-2807 790 33 system system NOUN taxlaw-2807 790 34 . . PUNCT taxlaw-2807 791 1 second second ADV taxlaw-2807 791 2 , , PUNCT taxlaw-2807 791 3 proposing propose VERB taxlaw-2807 791 4 mark mark NOUN taxlaw-2807 791 5 - - PUNCT taxlaw-2807 791 6 to to ADP taxlaw-2807 791 7 - - PUNCT taxlaw-2807 791 8 market market NOUN taxlaw-2807 791 9 taxation taxation NOUN taxlaw-2807 791 10 of of ADP taxlaw-2807 791 11 investment investment NOUN taxlaw-2807 791 12 assets asset NOUN taxlaw-2807 791 13 is be AUX taxlaw-2807 791 14 only only ADV taxlaw-2807 791 15 the the DET taxlaw-2807 791 16 first first ADJ taxlaw-2807 791 17 and and CCONJ taxlaw-2807 791 18 most most ADV taxlaw-2807 791 19 straightforward straightforward ADJ taxlaw-2807 791 20 option option NOUN taxlaw-2807 791 21 for for ADP taxlaw-2807 791 22 reform reform NOUN taxlaw-2807 791 23 — — PUNCT taxlaw-2807 791 24 but but CCONJ taxlaw-2807 791 25 not not PART taxlaw-2807 791 26 , , PUNCT taxlaw-2807 791 27 by by ADP taxlaw-2807 791 28 any any DET taxlaw-2807 791 29 means mean NOUN taxlaw-2807 791 30 , , PUNCT taxlaw-2807 791 31 the the DET taxlaw-2807 791 32 only only ADJ taxlaw-2807 791 33 policy policy NOUN taxlaw-2807 791 34 implication implication NOUN taxlaw-2807 791 35 of of ADP taxlaw-2807 791 36 this this DET taxlaw-2807 791 37 article article NOUN taxlaw-2807 791 38 ’s ’s PART taxlaw-2807 791 39 analysis analysis NOUN taxlaw-2807 791 40 . . PUNCT taxlaw-2807 792 1 offering offer VERB taxlaw-2807 792 2 the the DET taxlaw-2807 792 3 novel novel ADJ taxlaw-2807 792 4 category category NOUN taxlaw-2807 792 5 of of ADP taxlaw-2807 792 6 emotionally emotionally ADV taxlaw-2807 792 7 nonfungible nonfungible ADJ taxlaw-2807 792 8 ( ( PUNCT taxlaw-2807 792 9 personal personal ADJ taxlaw-2807 792 10 ) ) PUNCT taxlaw-2807 792 11 assets asset NOUN taxlaw-2807 792 12 as as ADP taxlaw-2807 792 13 a a DET taxlaw-2807 792 14 way way NOUN taxlaw-2807 792 15 to to PART taxlaw-2807 792 16 determine determine VERB taxlaw-2807 792 17 the the DET taxlaw-2807 792 18 tax tax NOUN taxlaw-2807 792 19 treatment treatment NOUN taxlaw-2807 792 20 of of ADP taxlaw-2807 792 21 assets asset NOUN taxlaw-2807 792 22 suggests suggest VERB taxlaw-2807 792 23 many many ADJ taxlaw-2807 792 24 more more ADJ taxlaw-2807 792 25 avenues avenue NOUN taxlaw-2807 792 26 of of ADP taxlaw-2807 792 27 research research NOUN taxlaw-2807 792 28 . . PUNCT taxlaw-2807 793 1 this this DET taxlaw-2807 793 2 part part NOUN taxlaw-2807 793 3 outlines outline VERB taxlaw-2807 793 4 the the DET taxlaw-2807 793 5 main main ADJ taxlaw-2807 793 6 trajectories trajectory NOUN taxlaw-2807 793 7 of of ADP taxlaw-2807 793 8 likely likely ADJ taxlaw-2807 793 9 future future ADJ taxlaw-2807 793 10 research research NOUN taxlaw-2807 793 11 and and CCONJ taxlaw-2807 793 12 positions position VERB taxlaw-2807 793 13 them they PRON taxlaw-2807 793 14 within within ADP taxlaw-2807 793 15 the the DET taxlaw-2807 793 16 scholarly scholarly ADJ taxlaw-2807 793 17 literature literature NOUN taxlaw-2807 793 18 . . PUNCT taxlaw-2807 794 1 184 184 NUM taxlaw-2807 794 2 see see VERB taxlaw-2807 794 3 generally generally ADV taxlaw-2807 794 4 lee lee PROPN taxlaw-2807 794 5 a. a. PROPN taxlaw-2807 794 6 fennell fennell PROPN taxlaw-2807 794 7 , , PUNCT taxlaw-2807 794 8 interdependence interdependence NOUN taxlaw-2807 794 9 and and CCONJ taxlaw-2807 794 10 choice choice NOUN taxlaw-2807 794 11 in in ADP taxlaw-2807 794 12 distributive distributive ADJ taxlaw-2807 794 13 justice justice NOUN taxlaw-2807 794 14 : : PUNCT taxlaw-2807 794 15 the the DET taxlaw-2807 794 16 welfare welfare NOUN taxlaw-2807 794 17 conundrum conundrum PROPN taxlaw-2807 794 18 , , PUNCT taxlaw-2807 794 19 1994 1994 NUM taxlaw-2807 794 20 wisc wisc PROPN taxlaw-2807 794 21 . . PUNCT taxlaw-2807 795 1 l. l. PROPN taxlaw-2807 795 2 rev rev AUX taxlaw-2807 795 3 . . PROPN taxlaw-2807 795 4 235 235 NUM taxlaw-2807 795 5 ( ( PUNCT taxlaw-2807 795 6 1994 1994 NUM taxlaw-2807 795 7 ) ) PUNCT taxlaw-2807 795 8 ( ( PUNCT taxlaw-2807 795 9 reviewing review VERB taxlaw-2807 795 10 the the DET taxlaw-2807 795 11 difficulties difficulty NOUN taxlaw-2807 795 12 of of ADP taxlaw-2807 795 13 using use VERB taxlaw-2807 795 14 welfare welfare NOUN taxlaw-2807 795 15 distributive distributive ADJ taxlaw-2807 795 16 programs program NOUN taxlaw-2807 795 17 to to PART taxlaw-2807 795 18 reduce reduce VERB taxlaw-2807 795 19 poverty poverty NOUN taxlaw-2807 795 20 and and CCONJ taxlaw-2807 795 21 inequality inequality NOUN taxlaw-2807 795 22 due due ADP taxlaw-2807 795 23 to to ADP taxlaw-2807 795 24 labor labor NOUN taxlaw-2807 795 25 market market NOUN taxlaw-2807 795 26 disincentives disincentive NOUN taxlaw-2807 795 27 ) ) PUNCT taxlaw-2807 795 28 . . PUNCT taxlaw-2807 796 1 2011 2011 NUM taxlaw-2807 796 2 ] ] PUNCT taxlaw-2807 796 3 realization realization NOUN taxlaw-2807 796 4 and and CCONJ taxlaw-2807 796 5 progressivity progressivity NOUN taxlaw-2807 796 6 79 79 NUM taxlaw-2807 796 7 a. a. NOUN taxlaw-2807 796 8 taking take VERB taxlaw-2807 796 9 the the DET taxlaw-2807 796 10 first first ADJ taxlaw-2807 796 11 step step NOUN taxlaw-2807 796 12 : : PUNCT taxlaw-2807 796 13 a a DET taxlaw-2807 796 14 modest modest ADJ taxlaw-2807 796 15 real real ADJ taxlaw-2807 796 16 - - PUNCT taxlaw-2807 796 17 world world NOUN taxlaw-2807 796 18 reform reform NOUN taxlaw-2807 796 19 proposal proposal NOUN taxlaw-2807 796 20 the the DET taxlaw-2807 796 21 category category NOUN taxlaw-2807 796 22 of of ADP taxlaw-2807 796 23 emotionally emotionally ADV taxlaw-2807 796 24 non non ADJ taxlaw-2807 796 25 - - ADJ taxlaw-2807 796 26 fungible fungible ADJ taxlaw-2807 796 27 personal personal ADJ taxlaw-2807 796 28 assets asset NOUN taxlaw-2807 796 29 may may AUX taxlaw-2807 796 30 seem seem VERB taxlaw-2807 796 31 vague vague ADJ taxlaw-2807 796 32 and and CCONJ taxlaw-2807 796 33 difficult difficult ADJ taxlaw-2807 796 34 to to PART taxlaw-2807 796 35 monitor monitor VERB taxlaw-2807 796 36 . . PUNCT taxlaw-2807 797 1 while while SCONJ taxlaw-2807 797 2 this this PRON taxlaw-2807 797 3 may may AUX taxlaw-2807 797 4 be be AUX taxlaw-2807 797 5 true true ADJ taxlaw-2807 797 6 , , PUNCT taxlaw-2807 797 7 there there PRON taxlaw-2807 797 8 is be VERB taxlaw-2807 797 9 at at ADV taxlaw-2807 797 10 least least ADJ taxlaw-2807 797 11 one one NUM taxlaw-2807 797 12 category category NOUN taxlaw-2807 797 13 of of ADP taxlaw-2807 797 14 assets asset NOUN taxlaw-2807 797 15 that that PRON taxlaw-2807 797 16 clearly clearly ADV taxlaw-2807 797 17 can can AUX taxlaw-2807 797 18 not not PART taxlaw-2807 797 19 be be AUX taxlaw-2807 797 20 identified identify VERB taxlaw-2807 797 21 as as ADP taxlaw-2807 797 22 personal personal ADJ taxlaw-2807 797 23 : : PUNCT taxlaw-2807 797 24 investment investment NOUN taxlaw-2807 797 25 assets asset NOUN taxlaw-2807 797 26 . . PUNCT taxlaw-2807 798 1 therefore therefore ADV taxlaw-2807 798 2 , , PUNCT taxlaw-2807 798 3 at at ADP taxlaw-2807 798 4 the the DET taxlaw-2807 798 5 very very ADV taxlaw-2807 798 6 minimum minimum NOUN taxlaw-2807 798 7 , , PUNCT taxlaw-2807 798 8 our our PRON taxlaw-2807 798 9 analysis analysis NOUN taxlaw-2807 798 10 suggests suggest VERB taxlaw-2807 798 11 that that SCONJ taxlaw-2807 798 12 investment investment NOUN taxlaw-2807 798 13 assets asset NOUN taxlaw-2807 798 14 should should AUX taxlaw-2807 798 15 be be AUX taxlaw-2807 798 16 taxed tax VERB taxlaw-2807 798 17 on on ADP taxlaw-2807 798 18 a a DET taxlaw-2807 798 19 mark mark NOUN taxlaw-2807 798 20 - - PUNCT taxlaw-2807 798 21 tomarket tomarket NOUN taxlaw-2807 798 22 basis basis NOUN taxlaw-2807 798 23 . . PUNCT taxlaw-2807 799 1 the the DET taxlaw-2807 799 2 advantages advantage NOUN taxlaw-2807 799 3 of of ADP taxlaw-2807 799 4 such such DET taxlaw-2807 799 5 a a DET taxlaw-2807 799 6 system system NOUN taxlaw-2807 799 7 are be AUX taxlaw-2807 799 8 straightforward straightforward ADJ taxlaw-2807 799 9 — — PUNCT taxlaw-2807 799 10 with with ADP taxlaw-2807 799 11 respect respect NOUN taxlaw-2807 799 12 to to ADP taxlaw-2807 799 13 investment investment NOUN taxlaw-2807 799 14 assets asset NOUN taxlaw-2807 799 15 , , PUNCT taxlaw-2807 799 16 all all DET taxlaw-2807 799 17 the the DET taxlaw-2807 799 18 problems problem NOUN taxlaw-2807 799 19 mentioned mention VERB taxlaw-2807 799 20 in in ADP taxlaw-2807 799 21 part part NOUN taxlaw-2807 799 22 i.a i.a PROPN taxlaw-2807 799 23 would would AUX taxlaw-2807 799 24 be be AUX taxlaw-2807 799 25 eliminated eliminate VERB taxlaw-2807 799 26 . . PUNCT taxlaw-2807 800 1 investment investment NOUN taxlaw-2807 800 2 assets asset NOUN taxlaw-2807 800 3 are be AUX taxlaw-2807 800 4 the the DET taxlaw-2807 800 5 easiest easy ADJ taxlaw-2807 800 6 vehicle vehicle NOUN taxlaw-2807 800 7 for for ADP taxlaw-2807 800 8 manipulating manipulate VERB taxlaw-2807 800 9 the the DET taxlaw-2807 800 10 realization realization NOUN taxlaw-2807 800 11 requirement requirement NOUN taxlaw-2807 800 12 , , PUNCT taxlaw-2807 800 13 particularly particularly ADV taxlaw-2807 800 14 through through ADP taxlaw-2807 800 15 inefficient inefficient ADJ taxlaw-2807 800 16 practices practice NOUN taxlaw-2807 800 17 such such ADJ taxlaw-2807 800 18 as as ADP taxlaw-2807 800 19 strategic strategic ADJ taxlaw-2807 800 20 trading trading NOUN taxlaw-2807 800 21 . . PUNCT taxlaw-2807 801 1 185 185 NUM taxlaw-2807 801 2 mark mark NOUN taxlaw-2807 801 3 - - PUNCT taxlaw-2807 801 4 to to ADP taxlaw-2807 801 5 - - PUNCT taxlaw-2807 801 6 market market NOUN taxlaw-2807 801 7 treatment treatment NOUN taxlaw-2807 801 8 would would AUX taxlaw-2807 801 9 eliminate eliminate VERB taxlaw-2807 801 10 tax tax NOUN taxlaw-2807 801 11 barriers barrier NOUN taxlaw-2807 801 12 to to ADP taxlaw-2807 801 13 the the DET taxlaw-2807 801 14 efficient efficient ADJ taxlaw-2807 801 15 allocation allocation NOUN taxlaw-2807 801 16 of of ADP taxlaw-2807 801 17 investment investment NOUN taxlaw-2807 801 18 assets asset NOUN taxlaw-2807 801 19 and and CCONJ taxlaw-2807 801 20 allow allow VERB taxlaw-2807 801 21 taxpayers taxpayer NOUN taxlaw-2807 801 22 to to PART taxlaw-2807 801 23 attain attain VERB taxlaw-2807 801 24 certain certain ADJ taxlaw-2807 801 25 investment investment NOUN taxlaw-2807 801 26 goals goal NOUN taxlaw-2807 801 27 — — PUNCT taxlaw-2807 801 28 such such ADJ taxlaw-2807 801 29 as as ADP taxlaw-2807 801 30 risk risk NOUN taxlaw-2807 801 31 diversification diversification NOUN taxlaw-2807 801 32 — — PUNCT taxlaw-2807 801 33 without without ADP taxlaw-2807 801 34 triggering trigger VERB taxlaw-2807 801 35 a a DET taxlaw-2807 801 36 tax tax NOUN taxlaw-2807 801 37 liability liability NOUN taxlaw-2807 801 38 . . PUNCT taxlaw-2807 802 1 furthermore furthermore ADV taxlaw-2807 802 2 , , PUNCT taxlaw-2807 802 3 investment investment NOUN taxlaw-2807 802 4 assets asset NOUN taxlaw-2807 802 5 are be AUX taxlaw-2807 802 6 disproportionately disproportionately ADV taxlaw-2807 802 7 held hold VERB taxlaw-2807 802 8 by by ADP taxlaw-2807 802 9 affluent affluent ADJ taxlaw-2807 802 10 taxpayers taxpayer NOUN taxlaw-2807 802 11 , , PUNCT taxlaw-2807 802 12 so so ADV taxlaw-2807 802 13 subjecting subject VERB taxlaw-2807 802 14 them they PRON taxlaw-2807 802 15 to to PART taxlaw-2807 802 16 mark mark VERB taxlaw-2807 802 17 - - PUNCT taxlaw-2807 802 18 to to ADP taxlaw-2807 802 19 - - PUNCT taxlaw-2807 802 20 market market NOUN taxlaw-2807 802 21 taxation taxation NOUN taxlaw-2807 802 22 would would AUX taxlaw-2807 802 23 deny deny VERB taxlaw-2807 802 24 them they PRON taxlaw-2807 802 25 the the DET taxlaw-2807 802 26 tax tax NOUN taxlaw-2807 802 27 benefit benefit NOUN taxlaw-2807 802 28 of of ADP taxlaw-2807 802 29 realization realization NOUN taxlaw-2807 802 30 for for ADP taxlaw-2807 802 31 these these DET taxlaw-2807 802 32 assets asset NOUN taxlaw-2807 802 33 , , PUNCT taxlaw-2807 802 34 thereby thereby ADV taxlaw-2807 802 35 increasing increase VERB taxlaw-2807 802 36 the the DET taxlaw-2807 802 37 progressivity progressivity NOUN taxlaw-2807 802 38 of of ADP taxlaw-2807 802 39 the the DET taxlaw-2807 802 40 income income NOUN taxlaw-2807 802 41 tax tax NOUN taxlaw-2807 802 42 base.186 base.186 NOUN taxlaw-2807 802 43 we we PRON taxlaw-2807 802 44 can can AUX taxlaw-2807 802 45 anticipate anticipate VERB taxlaw-2807 802 46 two two NUM taxlaw-2807 802 47 main main ADJ taxlaw-2807 802 48 difficulties difficulty NOUN taxlaw-2807 802 49 with with ADP taxlaw-2807 802 50 such such DET taxlaw-2807 802 51 a a DET taxlaw-2807 802 52 proposal proposal NOUN taxlaw-2807 802 53 , , PUNCT taxlaw-2807 802 54 neither neither PRON taxlaw-2807 802 55 of of ADP taxlaw-2807 802 56 which which PRON taxlaw-2807 802 57 is be AUX taxlaw-2807 802 58 insurmountable insurmountable ADJ taxlaw-2807 802 59 . . PUNCT taxlaw-2807 803 1 the the DET taxlaw-2807 803 2 first first ADJ taxlaw-2807 803 3 is be AUX taxlaw-2807 803 4 how how SCONJ taxlaw-2807 803 5 to to PART taxlaw-2807 803 6 define define VERB taxlaw-2807 803 7 investment investment NOUN taxlaw-2807 803 8 assets asset NOUN taxlaw-2807 803 9 , , PUNCT taxlaw-2807 803 10 and and CCONJ taxlaw-2807 803 11 the the DET taxlaw-2807 803 12 second second NOUN taxlaw-2807 803 13 is be AUX taxlaw-2807 803 14 how how SCONJ taxlaw-2807 803 15 our our PRON taxlaw-2807 803 16 proposal proposal NOUN taxlaw-2807 803 17 would would AUX taxlaw-2807 803 18 manage manage VERB taxlaw-2807 803 19 issues issue NOUN taxlaw-2807 803 20 of of ADP taxlaw-2807 803 21 valuation valuation NOUN taxlaw-2807 803 22 and and CCONJ taxlaw-2807 803 23 liquidity liquidity NOUN taxlaw-2807 803 24 . . PUNCT taxlaw-2807 804 1 with with ADP taxlaw-2807 804 2 respect respect NOUN taxlaw-2807 804 3 to to ADP taxlaw-2807 804 4 the the DET taxlaw-2807 804 5 first first ADJ taxlaw-2807 804 6 problem problem NOUN taxlaw-2807 804 7 , , PUNCT taxlaw-2807 804 8 the the DET taxlaw-2807 804 9 category category NOUN taxlaw-2807 804 10 of of ADP taxlaw-2807 804 11 investment investment NOUN taxlaw-2807 804 12 assets asset NOUN taxlaw-2807 804 13 should should AUX taxlaw-2807 804 14 include include VERB taxlaw-2807 804 15 individuals individual NOUN taxlaw-2807 804 16 ’ ’ PART taxlaw-2807 804 17 portfolio portfolio NOUN taxlaw-2807 804 18 investment investment NOUN taxlaw-2807 804 19 in in ADP taxlaw-2807 804 20 financial financial ADJ taxlaw-2807 804 21 markets market NOUN taxlaw-2807 804 22 , , PUNCT taxlaw-2807 804 23 debt debt NOUN taxlaw-2807 804 24 instruments instrument NOUN taxlaw-2807 804 25 , , PUNCT taxlaw-2807 804 26 and and CCONJ taxlaw-2807 804 27 any any DET taxlaw-2807 804 28 non non ADJ taxlaw-2807 804 29 - - ADJ taxlaw-2807 804 30 control control ADJ taxlaw-2807 804 31 equity equity NOUN taxlaw-2807 804 32 holdings holding NOUN taxlaw-2807 804 33 in in ADP taxlaw-2807 804 34 entities.187 entities.187 PROPN taxlaw-2807 804 35 it it PRON taxlaw-2807 804 36 is be AUX taxlaw-2807 804 37 important important ADJ taxlaw-2807 804 38 to to PART taxlaw-2807 804 39 note note VERB taxlaw-2807 804 40 that that SCONJ taxlaw-2807 804 41 the the DET taxlaw-2807 804 42 current current ADJ taxlaw-2807 804 43 tax tax NOUN taxlaw-2807 804 44 regime regime NOUN taxlaw-2807 804 45 already already ADV taxlaw-2807 804 46 employs employ VERB taxlaw-2807 804 47 rules rule NOUN taxlaw-2807 804 48 that that PRON taxlaw-2807 804 49 distinguish distinguish VERB taxlaw-2807 804 50 investment investment NOUN taxlaw-2807 804 51 assets asset NOUN taxlaw-2807 804 52 from from ADP taxlaw-2807 804 53 other other ADJ taxlaw-2807 804 54 types type NOUN taxlaw-2807 804 55 of of ADP taxlaw-2807 804 56 assets.188 assets.188 NOUN taxlaw-2807 804 57 these these DET taxlaw-2807 804 58 rules rule NOUN taxlaw-2807 804 59 are be AUX taxlaw-2807 804 60 biased bias VERB taxlaw-2807 804 61 against against ADP taxlaw-2807 804 62 investment investment NOUN taxlaw-2807 804 63 assets asset NOUN taxlaw-2807 804 64 because because SCONJ taxlaw-2807 804 65 they they PRON taxlaw-2807 804 66 prevent prevent VERB taxlaw-2807 804 67 taxpayers taxpayer NOUN taxlaw-2807 804 68 from from ADP taxlaw-2807 804 69 using use VERB taxlaw-2807 804 70 deductions deduction NOUN taxlaw-2807 804 71 generated generate VERB taxlaw-2807 804 72 by by ADP taxlaw-2807 804 73 investment investment NOUN taxlaw-2807 804 74 activity activity NOUN taxlaw-2807 804 75 to to PART taxlaw-2807 804 76 offset offset VERB taxlaw-2807 804 77 the the DET taxlaw-2807 804 78 income income NOUN taxlaw-2807 804 79 derived derive VERB taxlaw-2807 804 80 from from ADP taxlaw-2807 804 81 ordinary ordinary ADJ taxlaw-2807 804 82 trade trade NOUN taxlaw-2807 804 83 and and CCONJ taxlaw-2807 804 84 business business NOUN taxlaw-2807 804 85 or or CCONJ taxlaw-2807 804 86 as as ADP taxlaw-2807 804 87 compensation compensation NOUN taxlaw-2807 804 88 for for ADP taxlaw-2807 804 89 services.189 services.189 PROPN taxlaw-2807 804 90 congress congress PROPN taxlaw-2807 804 91 and and CCONJ taxlaw-2807 804 92 the the DET taxlaw-2807 804 93 u.s u.s PROPN taxlaw-2807 804 94 . . PROPN taxlaw-2807 804 95 treasury treasury PROPN taxlaw-2807 804 96 enacted enact VERB taxlaw-2807 804 97 these these DET taxlaw-2807 804 98 rules rule NOUN taxlaw-2807 804 99 as as ADP taxlaw-2807 804 100 a a DET taxlaw-2807 804 101 response response NOUN taxlaw-2807 804 102 to to ADP taxlaw-2807 804 103 one one NUM taxlaw-2807 804 104 of of ADP taxlaw-2807 804 105 the the DET taxlaw-2807 804 106 most most ADV taxlaw-2807 804 107 basic basic ADJ taxlaw-2807 804 108 tax tax NOUN taxlaw-2807 804 109 planning planning NOUN taxlaw-2807 804 110 strategies strategy NOUN taxlaw-2807 804 111 in in ADP taxlaw-2807 804 112 a a DET taxlaw-2807 804 113 realization realization NOUN taxlaw-2807 804 114 - - PUNCT taxlaw-2807 804 115 based base VERB taxlaw-2807 804 116 income income NOUN taxlaw-2807 804 117 tax tax NOUN taxlaw-2807 804 118 regime:190 regime:190 NOUN taxlaw-2807 804 119 the the DET taxlaw-2807 804 120 acceleration acceleration NOUN taxlaw-2807 804 121 of of ADP taxlaw-2807 804 122 deductions deduction NOUN taxlaw-2807 804 123 generated generate VERB taxlaw-2807 804 124 by by ADP taxlaw-2807 804 125 investment investment NOUN taxlaw-2807 804 126 activity activity NOUN taxlaw-2807 804 127 to to PART taxlaw-2807 804 128 reduce reduce VERB taxlaw-2807 804 129 tax tax NOUN taxlaw-2807 804 130 liability liability NOUN taxlaw-2807 804 131 on on ADP taxlaw-2807 804 132 income income NOUN taxlaw-2807 804 133 derived derive VERB taxlaw-2807 804 134 from from ADP taxlaw-2807 804 135 other other ADJ taxlaw-2807 804 136 sources.191 sources.191 NUM taxlaw-2807 804 137 the the DET taxlaw-2807 804 138 upshot upshot NOUN taxlaw-2807 804 139 of of ADP taxlaw-2807 804 140 this this DET taxlaw-2807 804 141 discussion discussion NOUN taxlaw-2807 804 142 is be AUX taxlaw-2807 804 143 that that SCONJ taxlaw-2807 804 144 185 185 NUM taxlaw-2807 804 145 see see NOUN taxlaw-2807 804 146 supra supra PROPN taxlaw-2807 804 147 note note PROPN taxlaw-2807 804 148 36 36 NUM taxlaw-2807 804 149 and and CCONJ taxlaw-2807 804 150 accompanying accompany VERB taxlaw-2807 804 151 text text NOUN taxlaw-2807 804 152 . . PUNCT taxlaw-2807 805 1 186 186 NUM taxlaw-2807 805 2 see see VERB taxlaw-2807 805 3 supra supra PROPN taxlaw-2807 805 4 note note PROPN taxlaw-2807 805 5 46 46 NUM taxlaw-2807 805 6 and and CCONJ taxlaw-2807 805 7 accompanying accompany VERB taxlaw-2807 805 8 text text NOUN taxlaw-2807 805 9 . . PUNCT taxlaw-2807 806 1 187 187 NUM taxlaw-2807 806 2 given give VERB taxlaw-2807 806 3 its its PRON taxlaw-2807 806 4 limited limited ADJ taxlaw-2807 806 5 scope scope NOUN taxlaw-2807 806 6 , , PUNCT taxlaw-2807 806 7 this this DET taxlaw-2807 806 8 article article NOUN taxlaw-2807 806 9 can can AUX taxlaw-2807 806 10 not not PART taxlaw-2807 806 11 address address VERB taxlaw-2807 806 12 the the DET taxlaw-2807 806 13 imposition imposition NOUN taxlaw-2807 806 14 of of ADP taxlaw-2807 806 15 the the DET taxlaw-2807 806 16 corporate corporate ADJ taxlaw-2807 806 17 tax tax NOUN taxlaw-2807 806 18 . . PUNCT taxlaw-2807 807 1 it it PRON taxlaw-2807 807 2 is be AUX taxlaw-2807 807 3 , , PUNCT taxlaw-2807 807 4 however however ADV taxlaw-2807 807 5 , , PUNCT taxlaw-2807 807 6 worthwhile worthwhile ADJ taxlaw-2807 807 7 to to PART taxlaw-2807 807 8 note note VERB taxlaw-2807 807 9 that that SCONJ taxlaw-2807 807 10 a a DET taxlaw-2807 807 11 regime regime NOUN taxlaw-2807 807 12 that that PRON taxlaw-2807 807 13 employs employ VERB taxlaw-2807 807 14 a a DET taxlaw-2807 807 15 corporate corporate ADJ taxlaw-2807 807 16 tax tax NOUN taxlaw-2807 807 17 on on ADP taxlaw-2807 807 18 all all DET taxlaw-2807 807 19 large large ADJ taxlaw-2807 807 20 corporations corporation NOUN taxlaw-2807 807 21 would would AUX taxlaw-2807 807 22 probably probably ADV taxlaw-2807 807 23 be be AUX taxlaw-2807 807 24 subject subject ADJ taxlaw-2807 807 25 to to ADP taxlaw-2807 807 26 mark mark NOUN taxlaw-2807 807 27 - - PUNCT taxlaw-2807 807 28 to to ADP taxlaw-2807 807 29 - - PUNCT taxlaw-2807 807 30 market market NOUN taxlaw-2807 807 31 taxation taxation NOUN taxlaw-2807 807 32 on on ADP taxlaw-2807 807 33 the the DET taxlaw-2807 807 34 entity entity NOUN taxlaw-2807 807 35 level level NOUN taxlaw-2807 807 36 . . PUNCT taxlaw-2807 808 1 see see VERB taxlaw-2807 808 2 generally generally ADV taxlaw-2807 808 3 michael michael PROPN taxlaw-2807 808 4 s. s. PROPN taxlaw-2807 808 5 knoll knoll PROPN taxlaw-2807 808 6 , , PUNCT taxlaw-2807 808 7 an an DET taxlaw-2807 808 8 accretion accretion NOUN taxlaw-2807 808 9 corporate corporate ADJ taxlaw-2807 808 10 income income NOUN taxlaw-2807 808 11 tax tax NOUN taxlaw-2807 808 12 , , PUNCT taxlaw-2807 808 13 49 49 NUM taxlaw-2807 808 14 stan stan PROPN taxlaw-2807 808 15 . . PUNCT taxlaw-2807 809 1 l. l. PROPN taxlaw-2807 809 2 rev rev PROPN taxlaw-2807 809 3 . . PROPN taxlaw-2807 809 4 1 1 NUM taxlaw-2807 809 5 ( ( PUNCT taxlaw-2807 809 6 1996 1996 NUM taxlaw-2807 809 7 ) ) PUNCT taxlaw-2807 809 8 ( ( PUNCT taxlaw-2807 809 9 arguing argue VERB taxlaw-2807 809 10 for for ADP taxlaw-2807 809 11 computing compute VERB taxlaw-2807 809 12 corporate corporate ADJ taxlaw-2807 809 13 income income NOUN taxlaw-2807 809 14 tax tax NOUN taxlaw-2807 809 15 this this DET taxlaw-2807 809 16 way way NOUN taxlaw-2807 809 17 ) ) PUNCT taxlaw-2807 809 18 . . PUNCT taxlaw-2807 810 1 188 188 NUM taxlaw-2807 810 2 one one NUM taxlaw-2807 810 3 example example NOUN taxlaw-2807 810 4 is be AUX taxlaw-2807 810 5 the the DET taxlaw-2807 810 6 passive passive ADJ taxlaw-2807 810 7 loss loss NOUN taxlaw-2807 810 8 limitations limitation NOUN taxlaw-2807 810 9 discussed discuss VERB taxlaw-2807 810 10 below below ADV taxlaw-2807 810 11 . . PUNCT taxlaw-2807 811 1 another another DET taxlaw-2807 811 2 set set NOUN taxlaw-2807 811 3 of of ADP taxlaw-2807 811 4 rules rule NOUN taxlaw-2807 811 5 can can AUX taxlaw-2807 811 6 be be AUX taxlaw-2807 811 7 found find VERB taxlaw-2807 811 8 in in ADP taxlaw-2807 811 9 i.r.c i.r.c NOUN taxlaw-2807 811 10 . . PUNCT taxlaw-2807 812 1 § § PROPN taxlaw-2807 812 2 163 163 NUM taxlaw-2807 812 3 ( ( PUNCT taxlaw-2807 812 4 west west NOUN taxlaw-2807 812 5 supp supp PROPN taxlaw-2807 812 6 . . PUNCT taxlaw-2807 813 1 2010 2010 NUM taxlaw-2807 813 2 ) ) PUNCT taxlaw-2807 813 3 , , PUNCT taxlaw-2807 813 4 which which PRON taxlaw-2807 813 5 limits limit VERB taxlaw-2807 813 6 the the DET taxlaw-2807 813 7 interest interest NOUN taxlaw-2807 813 8 deduction deduction NOUN taxlaw-2807 813 9 of of ADP taxlaw-2807 813 10 interest interest NOUN taxlaw-2807 813 11 payments payment NOUN taxlaw-2807 813 12 made make VERB taxlaw-2807 813 13 to to PART taxlaw-2807 813 14 support support VERB taxlaw-2807 813 15 investment investment NOUN taxlaw-2807 813 16 assets asset NOUN taxlaw-2807 813 17 . . PUNCT taxlaw-2807 814 1 189 189 NUM taxlaw-2807 814 2 see see NOUN taxlaw-2807 814 3 i.r.c i.r.c NOUN taxlaw-2807 814 4 . . PUNCT taxlaw-2807 815 1 § § PROPN taxlaw-2807 815 2 469 469 NUM taxlaw-2807 815 3 ( ( PUNCT taxlaw-2807 815 4 2006 2006 NUM taxlaw-2807 815 5 ) ) PUNCT taxlaw-2807 815 6 ( ( PUNCT taxlaw-2807 815 7 providing provide VERB taxlaw-2807 815 8 broad broad ADJ taxlaw-2807 815 9 limitations limitation NOUN taxlaw-2807 815 10 for for ADP taxlaw-2807 815 11 losses loss NOUN taxlaw-2807 815 12 from from ADP taxlaw-2807 815 13 “ " PUNCT taxlaw-2807 815 14 passive passive ADJ taxlaw-2807 815 15 ” " PUNCT taxlaw-2807 815 16 activities activity NOUN taxlaw-2807 815 17 ) ) PUNCT taxlaw-2807 815 18 . . PUNCT taxlaw-2807 816 1 the the DET taxlaw-2807 816 2 limitations limitation NOUN taxlaw-2807 816 3 of of ADP taxlaw-2807 816 4 i.r.c i.r.c NOUN taxlaw-2807 816 5 § § PROPN taxlaw-2807 816 6 469 469 NUM taxlaw-2807 816 7 and and CCONJ taxlaw-2807 816 8 its its PRON taxlaw-2807 816 9 associated associated ADJ taxlaw-2807 816 10 regulations regulation NOUN taxlaw-2807 816 11 set set VERB taxlaw-2807 816 12 out out ADP taxlaw-2807 816 13 mechanical mechanical ADJ taxlaw-2807 816 14 rules rule NOUN taxlaw-2807 816 15 for for ADP taxlaw-2807 816 16 determining determine VERB taxlaw-2807 816 17 whether whether SCONJ taxlaw-2807 816 18 an an DET taxlaw-2807 816 19 investment investment NOUN taxlaw-2807 816 20 activity activity NOUN taxlaw-2807 816 21 is be AUX taxlaw-2807 816 22 active active ADJ taxlaw-2807 816 23 or or CCONJ taxlaw-2807 816 24 passive passive ADJ taxlaw-2807 816 25 , , PUNCT taxlaw-2807 816 26 including include VERB taxlaw-2807 816 27 the the DET taxlaw-2807 816 28 number number NOUN taxlaw-2807 816 29 of of ADP taxlaw-2807 816 30 hours hour NOUN taxlaw-2807 816 31 the the DET taxlaw-2807 816 32 investor investor NOUN taxlaw-2807 816 33 dedicates dedicate VERB taxlaw-2807 816 34 to to ADP taxlaw-2807 816 35 the the DET taxlaw-2807 816 36 activity activity NOUN taxlaw-2807 816 37 . . PUNCT taxlaw-2807 817 1 the the DET taxlaw-2807 817 2 rules rule NOUN taxlaw-2807 817 3 were be AUX taxlaw-2807 817 4 extremely extremely ADV taxlaw-2807 817 5 effective effective ADJ taxlaw-2807 817 6 at at ADP taxlaw-2807 817 7 eliminating eliminate VERB taxlaw-2807 817 8 tax tax NOUN taxlaw-2807 817 9 shelters shelter NOUN taxlaw-2807 817 10 marketed market VERB taxlaw-2807 817 11 to to ADP taxlaw-2807 817 12 individuals individual NOUN taxlaw-2807 817 13 . . PUNCT taxlaw-2807 818 1 see see VERB taxlaw-2807 818 2 graetz graetz PROPN taxlaw-2807 818 3 & & CCONJ taxlaw-2807 818 4 schenk schenk PROPN taxlaw-2807 818 5 , , PUNCT taxlaw-2807 818 6 supra supra PROPN taxlaw-2807 818 7 note note PROPN taxlaw-2807 818 8 1 1 NUM taxlaw-2807 818 9 , , PUNCT taxlaw-2807 818 10 at at ADP taxlaw-2807 818 11 414–15 414–15 NUM taxlaw-2807 818 12 ; ; PUNCT taxlaw-2807 818 13 mccaffery mccaffery NOUN taxlaw-2807 818 14 , , PUNCT taxlaw-2807 818 15 supra supra PROPN taxlaw-2807 818 16 note note NOUN taxlaw-2807 818 17 11 11 NUM taxlaw-2807 818 18 , , PUNCT taxlaw-2807 818 19 at at ADP taxlaw-2807 818 20 907 907 NUM taxlaw-2807 818 21 . . PUNCT taxlaw-2807 818 22 190 190 NUM taxlaw-2807 818 23 see see VERB taxlaw-2807 818 24 marvin marvin PROPN taxlaw-2807 818 25 a. a. PROPN taxlaw-2807 818 26 chirelstein chirelstein PROPN taxlaw-2807 818 27 & & CCONJ taxlaw-2807 818 28 lawrence lawrence PROPN taxlaw-2807 818 29 a. a. PROPN taxlaw-2807 818 30 zelenak zelenak PROPN taxlaw-2807 818 31 , , PUNCT taxlaw-2807 818 32 tax tax NOUN taxlaw-2807 818 33 shelters shelter NOUN taxlaw-2807 818 34 and and CCONJ taxlaw-2807 818 35 the the DET taxlaw-2807 818 36 search search NOUN taxlaw-2807 818 37 for for ADP taxlaw-2807 818 38 a a DET taxlaw-2807 818 39 silver silver ADJ taxlaw-2807 818 40 bullet bullet NOUN taxlaw-2807 818 41 , , PUNCT taxlaw-2807 818 42 105 105 NUM taxlaw-2807 818 43 colum colum NOUN taxlaw-2807 818 44 . . PUNCT taxlaw-2807 819 1 l. l. PROPN taxlaw-2807 819 2 rev rev PROPN taxlaw-2807 819 3 . . PROPN taxlaw-2807 819 4 1939 1939 NUM taxlaw-2807 819 5 , , PUNCT taxlaw-2807 819 6 1951 1951 NUM taxlaw-2807 819 7 ( ( PUNCT taxlaw-2807 819 8 2005 2005 NUM taxlaw-2807 819 9 ) ) PUNCT taxlaw-2807 819 10 . . PUNCT taxlaw-2807 820 1 191 191 NUM taxlaw-2807 820 2 see see VERB taxlaw-2807 820 3 lawrence lawrence PROPN taxlaw-2807 820 4 zelenak zelenak PROPN taxlaw-2807 820 5 , , PUNCT taxlaw-2807 820 6 when when SCONJ taxlaw-2807 820 7 good good ADJ taxlaw-2807 820 8 preferences preference NOUN taxlaw-2807 820 9 go go VERB taxlaw-2807 820 10 bad bad ADJ taxlaw-2807 820 11 : : PUNCT taxlaw-2807 820 12 a a DET taxlaw-2807 820 13 critical critical ADJ taxlaw-2807 820 14 analysis analysis NOUN taxlaw-2807 820 15 of of ADP taxlaw-2807 820 16 the the DET taxlaw-2807 820 17 anti anti ADJ taxlaw-2807 820 18 - - ADJ taxlaw-2807 820 19 tax tax ADJ taxlaw-2807 820 20 shelter shelter NOUN taxlaw-2807 820 21 provisions provision NOUN taxlaw-2807 820 22 of of ADP taxlaw-2807 820 23 the the DET taxlaw-2807 820 24 tax tax NOUN taxlaw-2807 820 25 reform reform NOUN taxlaw-2807 820 26 act act NOUN taxlaw-2807 820 27 of of ADP taxlaw-2807 820 28 1986 1986 NUM taxlaw-2807 820 29 , , PUNCT taxlaw-2807 820 30 67 67 NUM taxlaw-2807 820 31 tex tex PROPN taxlaw-2807 820 32 . . PROPN taxlaw-2807 820 33 l. l. PROPN taxlaw-2807 820 34 rev rev PROPN taxlaw-2807 820 35 . . PROPN taxlaw-2807 820 36 499 499 NUM taxlaw-2807 820 37 , , PUNCT taxlaw-2807 820 38 501 501 NUM taxlaw-2807 820 39 ( ( PUNCT taxlaw-2807 820 40 1989 1989 NUM taxlaw-2807 820 41 ) ) PUNCT taxlaw-2807 820 42 . . PUNCT taxlaw-2807 821 1 in in ADP taxlaw-2807 821 2 the the DET taxlaw-2807 821 3 once once ADV taxlaw-2807 821 4 prominent prominent ADJ taxlaw-2807 821 5 individual individual ADJ taxlaw-2807 821 6 tax tax NOUN taxlaw-2807 821 7 shelter shelter NOUN taxlaw-2807 821 8 industry industry NOUN taxlaw-2807 821 9 , , PUNCT taxlaw-2807 821 10 high high ADJ taxlaw-2807 821 11 - - PUNCT taxlaw-2807 821 12 income income NOUN taxlaw-2807 821 13 earners earner NOUN taxlaw-2807 821 14 would would AUX taxlaw-2807 821 15 purchase purchase VERB taxlaw-2807 821 16 non non ADJ taxlaw-2807 821 17 - - ADJ taxlaw-2807 821 18 control control ADJ taxlaw-2807 821 19 shares share NOUN taxlaw-2807 821 20 in in ADP taxlaw-2807 821 21 businesses business NOUN taxlaw-2807 821 22 solely solely ADV taxlaw-2807 821 23 for for ADP taxlaw-2807 821 24 the the DET taxlaw-2807 821 25 deductions deduction NOUN taxlaw-2807 821 26 the the DET taxlaw-2807 821 27 businesses business NOUN taxlaw-2807 821 28 generated generate VERB taxlaw-2807 821 29 . . PUNCT taxlaw-2807 822 1 a a DET taxlaw-2807 822 2 dentist dentist NOUN taxlaw-2807 822 3 in in ADP taxlaw-2807 822 4 a a DET taxlaw-2807 822 5 high high ADJ taxlaw-2807 822 6 tax tax NOUN taxlaw-2807 822 7 bracket bracket NOUN taxlaw-2807 822 8 , , PUNCT taxlaw-2807 822 9 for for ADP taxlaw-2807 822 10 example example NOUN taxlaw-2807 822 11 , , PUNCT taxlaw-2807 822 12 might might AUX taxlaw-2807 822 13 purchase purchase VERB taxlaw-2807 822 14 a a DET taxlaw-2807 822 15 share share NOUN taxlaw-2807 822 16 in in ADP taxlaw-2807 822 17 a a DET taxlaw-2807 822 18 sham sham ADJ taxlaw-2807 822 19 real real ADJ taxlaw-2807 822 20 estate estate NOUN taxlaw-2807 822 21 investment investment NOUN taxlaw-2807 822 22 using use VERB taxlaw-2807 822 23 nonrecourse nonrecourse NOUN taxlaw-2807 822 24 debt debt NOUN taxlaw-2807 822 25 solely solely ADV taxlaw-2807 822 26 to to PART taxlaw-2807 822 27 take take VERB taxlaw-2807 822 28 advantage advantage NOUN taxlaw-2807 822 29 of of ADP taxlaw-2807 822 30 depreciation depreciation NOUN taxlaw-2807 822 31 80 80 NUM taxlaw-2807 822 32 columbia columbia PROPN taxlaw-2807 822 33 journal journal NOUN taxlaw-2807 822 34 of of ADP taxlaw-2807 822 35 tax tax NOUN taxlaw-2807 822 36 law law NOUN taxlaw-2807 823 1 [ [ X taxlaw-2807 823 2 vol.3:43 vol.3:43 PROPN taxlaw-2807 823 3 while while SCONJ taxlaw-2807 823 4 it it PRON taxlaw-2807 823 5 can can AUX taxlaw-2807 823 6 certainly certainly ADV taxlaw-2807 823 7 be be AUX taxlaw-2807 823 8 difficult difficult ADJ taxlaw-2807 823 9 to to PART taxlaw-2807 823 10 make make VERB taxlaw-2807 823 11 distinctions distinction NOUN taxlaw-2807 823 12 between between ADP taxlaw-2807 823 13 types type NOUN taxlaw-2807 823 14 of of ADP taxlaw-2807 823 15 holdings holding NOUN taxlaw-2807 823 16 , , PUNCT taxlaw-2807 823 17 this this DET taxlaw-2807 823 18 difficulty difficulty NOUN taxlaw-2807 823 19 is be AUX taxlaw-2807 823 20 not not PART taxlaw-2807 823 21 fatal fatal ADJ taxlaw-2807 823 22 to to ADP taxlaw-2807 823 23 our our PRON taxlaw-2807 823 24 proposal proposal NOUN taxlaw-2807 823 25 . . PUNCT taxlaw-2807 824 1 in in ADP taxlaw-2807 824 2 fact fact NOUN taxlaw-2807 824 3 , , PUNCT taxlaw-2807 824 4 the the DET taxlaw-2807 824 5 current current ADJ taxlaw-2807 824 6 tax tax NOUN taxlaw-2807 824 7 regime regime NOUN taxlaw-2807 824 8 makes make VERB taxlaw-2807 824 9 such such ADJ taxlaw-2807 824 10 distinctions distinction NOUN taxlaw-2807 824 11 all all DET taxlaw-2807 824 12 the the DET taxlaw-2807 824 13 time time NOUN taxlaw-2807 824 14 . . PUNCT taxlaw-2807 825 1 with with ADP taxlaw-2807 825 2 respect respect NOUN taxlaw-2807 825 3 to to ADP taxlaw-2807 825 4 the the DET taxlaw-2807 825 5 problems problem NOUN taxlaw-2807 825 6 of of ADP taxlaw-2807 825 7 valuation valuation NOUN taxlaw-2807 825 8 and and CCONJ taxlaw-2807 825 9 liquidity liquidity NOUN taxlaw-2807 825 10 , , PUNCT taxlaw-2807 825 11 we we PRON taxlaw-2807 825 12 concede concede VERB taxlaw-2807 825 13 that that SCONJ taxlaw-2807 825 14 they they PRON taxlaw-2807 825 15 might might AUX taxlaw-2807 825 16 remain remain VERB taxlaw-2807 825 17 a a DET taxlaw-2807 825 18 source source NOUN taxlaw-2807 825 19 of of ADP taxlaw-2807 825 20 concern concern NOUN taxlaw-2807 825 21 under under ADP taxlaw-2807 825 22 this this DET taxlaw-2807 825 23 proposal proposal NOUN taxlaw-2807 825 24 . . PUNCT taxlaw-2807 826 1 instead instead ADV taxlaw-2807 826 2 , , PUNCT taxlaw-2807 826 3 we we PRON taxlaw-2807 826 4 argue argue VERB taxlaw-2807 826 5 that that SCONJ taxlaw-2807 826 6 policymakers policymaker NOUN taxlaw-2807 826 7 can can AUX taxlaw-2807 826 8 address address VERB taxlaw-2807 826 9 those those DET taxlaw-2807 826 10 problems problem NOUN taxlaw-2807 826 11 much much ADV taxlaw-2807 826 12 more more ADV taxlaw-2807 826 13 easily easily ADV taxlaw-2807 826 14 in in ADP taxlaw-2807 826 15 the the DET taxlaw-2807 826 16 context context NOUN taxlaw-2807 826 17 of of ADP taxlaw-2807 826 18 investment investment NOUN taxlaw-2807 826 19 assets asset NOUN taxlaw-2807 826 20 than than ADP taxlaw-2807 826 21 with with ADP taxlaw-2807 826 22 respect respect NOUN taxlaw-2807 826 23 to to ADP taxlaw-2807 826 24 all all DET taxlaw-2807 826 25 assets asset NOUN taxlaw-2807 826 26 . . PUNCT taxlaw-2807 827 1 many many ADJ taxlaw-2807 827 2 investment investment NOUN taxlaw-2807 827 3 assets asset NOUN taxlaw-2807 827 4 are be AUX taxlaw-2807 827 5 traded trade VERB taxlaw-2807 827 6 and and CCONJ taxlaw-2807 827 7 therefore therefore ADV taxlaw-2807 827 8 are be AUX taxlaw-2807 827 9 relatively relatively ADV taxlaw-2807 827 10 liquid liquid ADJ taxlaw-2807 827 11 and and CCONJ taxlaw-2807 827 12 easy easy ADJ taxlaw-2807 827 13 to to PART taxlaw-2807 827 14 value value VERB taxlaw-2807 827 15 . . PUNCT taxlaw-2807 828 1 as as SCONJ taxlaw-2807 828 2 noted note VERB taxlaw-2807 828 3 earlier early ADV taxlaw-2807 828 4 , , PUNCT taxlaw-2807 828 5 we we PRON taxlaw-2807 828 6 believe believe VERB taxlaw-2807 828 7 that that SCONJ taxlaw-2807 828 8 liquidity liquidity NOUN taxlaw-2807 828 9 problems problem NOUN taxlaw-2807 828 10 are be AUX taxlaw-2807 828 11 not not PART taxlaw-2807 828 12 detrimental detrimental ADJ taxlaw-2807 828 13 to to ADP taxlaw-2807 828 14 this this DET taxlaw-2807 828 15 proposal proposal NOUN taxlaw-2807 828 16 because because SCONJ taxlaw-2807 828 17 the the DET taxlaw-2807 828 18 current current ADJ taxlaw-2807 828 19 literature literature NOUN taxlaw-2807 828 20 has have AUX taxlaw-2807 828 21 identified identify VERB taxlaw-2807 828 22 the the DET taxlaw-2807 828 23 need need NOUN taxlaw-2807 828 24 to to PART taxlaw-2807 828 25 make make VERB taxlaw-2807 828 26 exceptions exception NOUN taxlaw-2807 828 27 in in ADP taxlaw-2807 828 28 such such ADJ taxlaw-2807 828 29 limited limited ADJ taxlaw-2807 828 30 cases case NOUN taxlaw-2807 828 31 of of ADP taxlaw-2807 828 32 low low ADJ taxlaw-2807 828 33 taxpayer taxpayer NOUN taxlaw-2807 828 34 liquidity.192 liquidity.192 NOUN taxlaw-2807 828 35 valuation valuation NOUN taxlaw-2807 828 36 is be AUX taxlaw-2807 828 37 the the DET taxlaw-2807 828 38 main main ADJ taxlaw-2807 828 39 explanation explanation NOUN taxlaw-2807 828 40 for for ADP taxlaw-2807 828 41 why why SCONJ taxlaw-2807 828 42 the the DET taxlaw-2807 828 43 realization realization NOUN taxlaw-2807 828 44 requirement requirement NOUN taxlaw-2807 828 45 has have AUX taxlaw-2807 828 46 endured endure VERB taxlaw-2807 828 47 as as ADP taxlaw-2807 828 48 a a DET taxlaw-2807 828 49 second second ADJ taxlaw-2807 828 50 best good ADJ taxlaw-2807 828 51 alternative193 alternative193 PROPN taxlaw-2807 828 52 and and CCONJ taxlaw-2807 828 53 probably probably ADV taxlaw-2807 828 54 remains remain VERB taxlaw-2807 828 55 the the DET taxlaw-2807 828 56 main main ADJ taxlaw-2807 828 57 impediment impediment NOUN taxlaw-2807 828 58 to to ADP taxlaw-2807 828 59 adopting adopt VERB taxlaw-2807 828 60 a a DET taxlaw-2807 828 61 mark mark NOUN taxlaw-2807 828 62 - - PUNCT taxlaw-2807 828 63 to to ADP taxlaw-2807 828 64 - - PUNCT taxlaw-2807 828 65 market market NOUN taxlaw-2807 828 66 regime.194 regime.194 NOUN taxlaw-2807 828 67 nevertheless nevertheless ADV taxlaw-2807 828 68 , , PUNCT taxlaw-2807 828 69 the the DET taxlaw-2807 828 70 notion notion NOUN taxlaw-2807 828 71 that that SCONJ taxlaw-2807 828 72 valuation valuation NOUN taxlaw-2807 828 73 will will AUX taxlaw-2807 828 74 always always ADV taxlaw-2807 828 75 render render VERB taxlaw-2807 828 76 the the DET taxlaw-2807 828 77 mark mark NOUN taxlaw-2807 828 78 - - PUNCT taxlaw-2807 828 79 to to ADP taxlaw-2807 828 80 - - PUNCT taxlaw-2807 828 81 market market NOUN taxlaw-2807 828 82 alternatives alternative NOUN taxlaw-2807 828 83 impractical impractical ADJ taxlaw-2807 828 84 is be AUX taxlaw-2807 828 85 likely likely ADJ taxlaw-2807 828 86 to to PART taxlaw-2807 828 87 eventually eventually ADV taxlaw-2807 828 88 fail fail VERB taxlaw-2807 828 89 . . PUNCT taxlaw-2807 829 1 if if SCONJ taxlaw-2807 829 2 one one PRON taxlaw-2807 829 3 assumes assume VERB taxlaw-2807 829 4 that that SCONJ taxlaw-2807 829 5 public public ADJ taxlaw-2807 829 6 markets market NOUN taxlaw-2807 829 7 will will AUX taxlaw-2807 829 8 continue continue VERB taxlaw-2807 829 9 to to PART taxlaw-2807 829 10 grow grow VERB taxlaw-2807 829 11 in in ADP taxlaw-2807 829 12 both both DET taxlaw-2807 829 13 scope scope NOUN taxlaw-2807 829 14 and and CCONJ taxlaw-2807 829 15 scale195 scale195 PROPN taxlaw-2807 829 16 and and CCONJ taxlaw-2807 829 17 advancements advancement NOUN taxlaw-2807 829 18 in in ADP taxlaw-2807 829 19 computation computation NOUN taxlaw-2807 829 20 and and CCONJ taxlaw-2807 829 21 data datum NOUN taxlaw-2807 829 22 analysis analysis NOUN taxlaw-2807 829 23 will will AUX taxlaw-2807 829 24 continue continue VERB taxlaw-2807 829 25 to to PART taxlaw-2807 829 26 grow grow VERB taxlaw-2807 829 27 at at ADP taxlaw-2807 829 28 an an DET taxlaw-2807 829 29 increasing increase VERB taxlaw-2807 829 30 rate rate NOUN taxlaw-2807 829 31 , , PUNCT taxlaw-2807 829 32 then then ADV taxlaw-2807 829 33 the the DET taxlaw-2807 829 34 implication implication NOUN taxlaw-2807 829 35 of of ADP taxlaw-2807 829 36 this this PRON taxlaw-2807 829 37 is be AUX taxlaw-2807 829 38 that that SCONJ taxlaw-2807 829 39 the the DET taxlaw-2807 829 40 market market NOUN taxlaw-2807 829 41 prices price NOUN taxlaw-2807 829 42 of of ADP taxlaw-2807 829 43 a a DET taxlaw-2807 829 44 growing grow VERB taxlaw-2807 829 45 number number NOUN taxlaw-2807 829 46 of of ADP taxlaw-2807 829 47 assets asset NOUN taxlaw-2807 829 48 will will AUX taxlaw-2807 829 49 be be AUX taxlaw-2807 829 50 more more ADV taxlaw-2807 829 51 easily easily ADV taxlaw-2807 829 52 determined determine VERB taxlaw-2807 829 53 and and CCONJ taxlaw-2807 829 54 observed observe VERB taxlaw-2807 829 55 in in ADP taxlaw-2807 829 56 the the DET taxlaw-2807 829 57 foreseeable foreseeable ADJ taxlaw-2807 829 58 future.196 future.196 NOUN taxlaw-2807 829 59 hence hence ADV taxlaw-2807 829 60 , , PUNCT taxlaw-2807 829 61 the the DET taxlaw-2807 829 62 notion notion NOUN taxlaw-2807 829 63 that that SCONJ taxlaw-2807 829 64 tax tax NOUN taxlaw-2807 829 65 authorities authority NOUN taxlaw-2807 829 66 would would AUX taxlaw-2807 829 67 be be AUX taxlaw-2807 829 68 able able ADJ taxlaw-2807 829 69 to to PART taxlaw-2807 829 70 value value VERB taxlaw-2807 829 71 and and CCONJ taxlaw-2807 829 72 tax tax NOUN taxlaw-2807 829 73 assets asset NOUN taxlaw-2807 829 74 under under ADP taxlaw-2807 829 75 a a DET taxlaw-2807 829 76 mark mark NOUN taxlaw-2807 829 77 - - PUNCT taxlaw-2807 829 78 to to ADP taxlaw-2807 829 79 - - PUNCT taxlaw-2807 829 80 market market NOUN taxlaw-2807 829 81 income income NOUN taxlaw-2807 829 82 tax tax NOUN taxlaw-2807 829 83 regime regime NOUN taxlaw-2807 829 84 is be AUX taxlaw-2807 829 85 realistic realistic ADJ taxlaw-2807 829 86 for for ADP taxlaw-2807 829 87 an an DET taxlaw-2807 829 88 increasingly increasingly ADV taxlaw-2807 829 89 large large ADJ taxlaw-2807 829 90 proportion proportion NOUN taxlaw-2807 829 91 of of ADP taxlaw-2807 829 92 investment investment NOUN taxlaw-2807 829 93 assets.197 assets.197 INTJ taxlaw-2807 830 1 because because SCONJ taxlaw-2807 830 2 current current ADJ taxlaw-2807 830 3 income income NOUN taxlaw-2807 830 4 arrangements arrangement NOUN taxlaw-2807 830 5 rely rely VERB taxlaw-2807 830 6 on on ADP taxlaw-2807 830 7 the the DET taxlaw-2807 830 8 ability ability NOUN taxlaw-2807 830 9 to to PART taxlaw-2807 830 10 distinguish distinguish VERB taxlaw-2807 830 11 between between ADP taxlaw-2807 830 12 investment investment NOUN taxlaw-2807 830 13 assets asset NOUN taxlaw-2807 830 14 and and CCONJ taxlaw-2807 830 15 other other ADJ taxlaw-2807 830 16 assets asset NOUN taxlaw-2807 830 17 , , PUNCT taxlaw-2807 830 18 using use VERB taxlaw-2807 830 19 these these DET taxlaw-2807 830 20 same same ADJ taxlaw-2807 830 21 distinctions distinction NOUN taxlaw-2807 830 22 to to PART taxlaw-2807 830 23 promote promote VERB taxlaw-2807 830 24 a a DET taxlaw-2807 830 25 hybrid hybrid ADJ taxlaw-2807 830 26 mark mark NOUN taxlaw-2807 830 27 - - PUNCT taxlaw-2807 830 28 to to ADP taxlaw-2807 830 29 - - PUNCT taxlaw-2807 830 30 market market NOUN taxlaw-2807 830 31 regime regime NOUN taxlaw-2807 830 32 would would AUX taxlaw-2807 830 33 not not PART taxlaw-2807 830 34 add add VERB taxlaw-2807 830 35 significant significant ADJ taxlaw-2807 830 36 complexity complexity NOUN taxlaw-2807 830 37 to to ADP taxlaw-2807 830 38 the the DET taxlaw-2807 830 39 system system NOUN taxlaw-2807 830 40 . . PUNCT taxlaw-2807 831 1 in in ADP taxlaw-2807 831 2 other other ADJ taxlaw-2807 831 3 words word NOUN taxlaw-2807 831 4 , , PUNCT taxlaw-2807 831 5 the the DET taxlaw-2807 831 6 costs cost NOUN taxlaw-2807 831 7 of of ADP taxlaw-2807 831 8 distinguishing distinguish VERB taxlaw-2807 831 9 between between ADP taxlaw-2807 831 10 investment investment NOUN taxlaw-2807 831 11 assets asset NOUN taxlaw-2807 831 12 and and CCONJ taxlaw-2807 831 13 other other ADJ taxlaw-2807 831 14 assets asset NOUN taxlaw-2807 831 15 are be AUX taxlaw-2807 831 16 already already ADV taxlaw-2807 831 17 present present ADJ taxlaw-2807 831 18 in in ADP taxlaw-2807 831 19 the the DET taxlaw-2807 831 20 current current ADJ taxlaw-2807 831 21 income income NOUN taxlaw-2807 831 22 tax tax NOUN taxlaw-2807 831 23 regime regime NOUN taxlaw-2807 831 24 . . PUNCT taxlaw-2807 832 1 while while SCONJ taxlaw-2807 832 2 our our PRON taxlaw-2807 832 3 proposal proposal NOUN taxlaw-2807 832 4 does do AUX taxlaw-2807 832 5 not not PART taxlaw-2807 832 6 reduce reduce VERB taxlaw-2807 832 7 these these DET taxlaw-2807 832 8 costs cost NOUN taxlaw-2807 832 9 , , PUNCT taxlaw-2807 832 10 it it PRON taxlaw-2807 832 11 achieves achieve VERB taxlaw-2807 832 12 many many ADJ taxlaw-2807 832 13 advantages advantage NOUN taxlaw-2807 832 14 of of ADP taxlaw-2807 832 15 the the DET taxlaw-2807 832 16 mark mark NOUN taxlaw-2807 832 17 - - PUNCT taxlaw-2807 832 18 to to ADP taxlaw-2807 832 19 - - PUNCT taxlaw-2807 832 20 market market NOUN taxlaw-2807 832 21 regime regime NOUN taxlaw-2807 832 22 , , PUNCT taxlaw-2807 832 23 appears appear VERB taxlaw-2807 832 24 to to PART taxlaw-2807 832 25 be be AUX taxlaw-2807 832 26 administratively administratively ADV taxlaw-2807 832 27 feasible feasible ADJ taxlaw-2807 832 28 ( ( PUNCT taxlaw-2807 832 29 if if SCONJ taxlaw-2807 832 30 not not PART taxlaw-2807 832 31 now now ADV taxlaw-2807 832 32 , , PUNCT taxlaw-2807 832 33 then then ADV taxlaw-2807 832 34 in in ADP taxlaw-2807 832 35 the the DET taxlaw-2807 832 36 near near ADJ taxlaw-2807 832 37 future future NOUN taxlaw-2807 832 38 ) ) PUNCT taxlaw-2807 832 39 , , PUNCT taxlaw-2807 832 40 and and CCONJ taxlaw-2807 832 41 reduces reduce VERB taxlaw-2807 832 42 the the DET taxlaw-2807 832 43 complexity complexity NOUN taxlaw-2807 832 44 of of ADP taxlaw-2807 832 45 many many ADJ taxlaw-2807 832 46 other other ADJ taxlaw-2807 832 47 rules,198 rules,198 NOUN taxlaw-2807 832 48 along along ADP taxlaw-2807 832 49 with with ADP taxlaw-2807 832 50 much much ADJ taxlaw-2807 832 51 of of ADP taxlaw-2807 832 52 the the DET taxlaw-2807 832 53 revenue revenue NOUN taxlaw-2807 832 54 loss loss NOUN taxlaw-2807 832 55 and and CCONJ taxlaw-2807 832 56 waste waste NOUN taxlaw-2807 832 57 associated associate VERB taxlaw-2807 832 58 with with ADP taxlaw-2807 832 59 tax tax NOUN taxlaw-2807 832 60 planning planning NOUN taxlaw-2807 832 61 . . PUNCT taxlaw-2807 833 1 in in ADP taxlaw-2807 833 2 terms term NOUN taxlaw-2807 833 3 of of ADP taxlaw-2807 833 4 future future ADJ taxlaw-2807 833 5 research research NOUN taxlaw-2807 833 6 , , PUNCT taxlaw-2807 833 7 we we PRON taxlaw-2807 833 8 believe believe VERB taxlaw-2807 833 9 that that SCONJ taxlaw-2807 833 10 the the DET taxlaw-2807 833 11 above above ADJ taxlaw-2807 833 12 proposal proposal NOUN taxlaw-2807 833 13 for for ADP taxlaw-2807 833 14 taxing tax VERB taxlaw-2807 833 15 all all DET taxlaw-2807 833 16 investment investment NOUN taxlaw-2807 833 17 assets asset NOUN taxlaw-2807 833 18 on on ADP taxlaw-2807 833 19 a a DET taxlaw-2807 833 20 mark mark NOUN taxlaw-2807 833 21 - - PUNCT taxlaw-2807 833 22 to to ADP taxlaw-2807 833 23 - - PUNCT taxlaw-2807 833 24 market market NOUN taxlaw-2807 833 25 basis basis NOUN taxlaw-2807 833 26 would would AUX taxlaw-2807 833 27 be be AUX taxlaw-2807 833 28 a a DET taxlaw-2807 833 29 significant significant ADJ taxlaw-2807 833 30 improvement improvement NOUN taxlaw-2807 833 31 over over ADP taxlaw-2807 833 32 the the DET taxlaw-2807 833 33 current current ADJ taxlaw-2807 833 34 regime regime NOUN taxlaw-2807 833 35 but but CCONJ taxlaw-2807 833 36 is be AUX taxlaw-2807 833 37 not not PART taxlaw-2807 833 38 necessarily necessarily ADV taxlaw-2807 833 39 the the DET taxlaw-2807 833 40 ideal ideal ADJ taxlaw-2807 833 41 solution solution NOUN taxlaw-2807 833 42 . . PUNCT taxlaw-2807 834 1 even even ADV taxlaw-2807 834 2 though though SCONJ taxlaw-2807 834 3 it it PRON taxlaw-2807 834 4 is be AUX taxlaw-2807 834 5 difficult difficult ADJ taxlaw-2807 834 6 to to PART taxlaw-2807 834 7 determine determine VERB taxlaw-2807 834 8 the the DET taxlaw-2807 834 9 precise precise ADJ taxlaw-2807 834 10 efficiency efficiency NOUN taxlaw-2807 834 11 and and CCONJ taxlaw-2807 834 12 distributional distributional ADJ taxlaw-2807 834 13 outcomes outcome NOUN taxlaw-2807 834 14 of of ADP taxlaw-2807 834 15 a a DET taxlaw-2807 834 16 hybrid hybrid ADJ taxlaw-2807 834 17 regime regime NOUN taxlaw-2807 834 18 , , PUNCT taxlaw-2807 834 19 we we PRON taxlaw-2807 834 20 deductions deduction NOUN taxlaw-2807 834 21 generated generate VERB taxlaw-2807 834 22 by by ADP taxlaw-2807 834 23 the the DET taxlaw-2807 834 24 investment investment NOUN taxlaw-2807 834 25 . . PUNCT taxlaw-2807 835 1 before before ADP taxlaw-2807 835 2 the the DET taxlaw-2807 835 3 1986 1986 NUM taxlaw-2807 835 4 tax tax NOUN taxlaw-2807 835 5 reform reform NOUN taxlaw-2807 835 6 act act PROPN taxlaw-2807 835 7 , , PUNCT taxlaw-2807 835 8 those those DET taxlaw-2807 835 9 deductions deduction NOUN taxlaw-2807 835 10 could could AUX taxlaw-2807 835 11 offset offset VERB taxlaw-2807 835 12 ( ( PUNCT taxlaw-2807 835 13 even even ADV taxlaw-2807 835 14 to to ADP taxlaw-2807 835 15 the the DET taxlaw-2807 835 16 point point NOUN taxlaw-2807 835 17 of of ADP taxlaw-2807 835 18 wiping wipe VERB taxlaw-2807 835 19 out out ADP taxlaw-2807 835 20 ) ) PUNCT taxlaw-2807 835 21 the the DET taxlaw-2807 835 22 taxpayer taxpayer NOUN taxlaw-2807 835 23 ’s ’s PART taxlaw-2807 835 24 dentistry dentistry PROPN taxlaw-2807 835 25 income income NOUN taxlaw-2807 835 26 . . PUNCT taxlaw-2807 836 1 section section NOUN taxlaw-2807 836 2 469 469 NUM taxlaw-2807 836 3 of of ADP taxlaw-2807 836 4 the the DET taxlaw-2807 836 5 internal internal ADJ taxlaw-2807 836 6 revenue revenue NOUN taxlaw-2807 836 7 code code NOUN taxlaw-2807 836 8 and and CCONJ taxlaw-2807 836 9 the the DET taxlaw-2807 836 10 associated associated ADJ taxlaw-2807 836 11 regulations regulation NOUN taxlaw-2807 836 12 virtually virtually ADV taxlaw-2807 836 13 eliminated eliminate VERB taxlaw-2807 836 14 these these DET taxlaw-2807 836 15 transactions transaction NOUN taxlaw-2807 836 16 by by ADP taxlaw-2807 836 17 creating create VERB taxlaw-2807 836 18 bright bright ADJ taxlaw-2807 836 19 line line NOUN taxlaw-2807 836 20 rules rule NOUN taxlaw-2807 836 21 to to PART taxlaw-2807 836 22 distinguish distinguish VERB taxlaw-2807 836 23 between between ADP taxlaw-2807 836 24 ordinary ordinary ADJ taxlaw-2807 836 25 and and CCONJ taxlaw-2807 836 26 passive passive ADJ taxlaw-2807 836 27 income income NOUN taxlaw-2807 836 28 and and CCONJ taxlaw-2807 836 29 prohibiting prohibit VERB taxlaw-2807 836 30 passive passive ADJ taxlaw-2807 836 31 deductions deduction NOUN taxlaw-2807 836 32 from from ADP taxlaw-2807 836 33 being be AUX taxlaw-2807 836 34 used use VERB taxlaw-2807 836 35 to to PART taxlaw-2807 836 36 offset offset VERB taxlaw-2807 836 37 ordinary ordinary ADJ taxlaw-2807 836 38 gains gain NOUN taxlaw-2807 836 39 . . PUNCT taxlaw-2807 837 1 among among ADP taxlaw-2807 837 2 other other ADJ taxlaw-2807 837 3 requirements requirement NOUN taxlaw-2807 837 4 , , PUNCT taxlaw-2807 837 5 i.r.c i.r.c NOUN taxlaw-2807 837 6 . . PUNCT taxlaw-2807 838 1 § § PROPN taxlaw-2807 838 2 469 469 NUM taxlaw-2807 838 3 demands demand NOUN taxlaw-2807 838 4 that that SCONJ taxlaw-2807 838 5 a a DET taxlaw-2807 838 6 taxpayer taxpayer NOUN taxlaw-2807 838 7 materially materially ADV taxlaw-2807 838 8 participate participate VERB taxlaw-2807 838 9 in in ADP taxlaw-2807 838 10 an an DET taxlaw-2807 838 11 investment investment NOUN taxlaw-2807 838 12 activity activity NOUN taxlaw-2807 838 13 in in ADP taxlaw-2807 838 14 order order NOUN taxlaw-2807 838 15 for for ADP taxlaw-2807 838 16 proceeds proceed NOUN taxlaw-2807 838 17 from from ADP taxlaw-2807 838 18 the the DET taxlaw-2807 838 19 activity activity NOUN taxlaw-2807 838 20 to to PART taxlaw-2807 838 21 be be AUX taxlaw-2807 838 22 considered consider VERB taxlaw-2807 838 23 ordinary ordinary ADJ taxlaw-2807 838 24 income income NOUN taxlaw-2807 838 25 . . PUNCT taxlaw-2807 839 1 in in ADP taxlaw-2807 839 2 actuality actuality NOUN taxlaw-2807 839 3 , , PUNCT taxlaw-2807 839 4 the the DET taxlaw-2807 839 5 provisions provision NOUN taxlaw-2807 839 6 establish establish VERB taxlaw-2807 839 7 clear clear ADJ taxlaw-2807 839 8 ( ( PUNCT taxlaw-2807 839 9 and and CCONJ taxlaw-2807 839 10 arguably arguably ADV taxlaw-2807 839 11 arbitrary arbitrary ADJ taxlaw-2807 839 12 ) ) PUNCT taxlaw-2807 839 13 tests test NOUN taxlaw-2807 839 14 for for ADP taxlaw-2807 839 15 what what PRON taxlaw-2807 839 16 amounts amount VERB taxlaw-2807 839 17 to to ADP taxlaw-2807 839 18 material material ADJ taxlaw-2807 839 19 participation participation NOUN taxlaw-2807 839 20 ( ( PUNCT taxlaw-2807 839 21 based base VERB taxlaw-2807 839 22 mainly mainly ADV taxlaw-2807 839 23 on on ADP taxlaw-2807 839 24 the the DET taxlaw-2807 839 25 amount amount NOUN taxlaw-2807 839 26 of of ADP taxlaw-2807 839 27 time time NOUN taxlaw-2807 839 28 spent spend VERB taxlaw-2807 839 29 in in ADP taxlaw-2807 839 30 the the DET taxlaw-2807 839 31 activity activity NOUN taxlaw-2807 839 32 ) ) PUNCT taxlaw-2807 839 33 . . PUNCT taxlaw-2807 840 1 192 192 NUM taxlaw-2807 840 2 see see VERB taxlaw-2807 840 3 supra supra PROPN taxlaw-2807 840 4 notes note VERB taxlaw-2807 840 5 51–54 51–54 NUM taxlaw-2807 840 6 and and CCONJ taxlaw-2807 840 7 accompanying accompany VERB taxlaw-2807 840 8 text text NOUN taxlaw-2807 840 9 . . PUNCT taxlaw-2807 841 1 193 193 NUM taxlaw-2807 841 2 see see VERB taxlaw-2807 841 3 schenk schenk PROPN taxlaw-2807 841 4 , , PUNCT taxlaw-2807 841 5 supra supra PROPN taxlaw-2807 841 6 note note PROPN taxlaw-2807 841 7 12 12 NUM taxlaw-2807 841 8 , , PUNCT taxlaw-2807 841 9 at at ADP taxlaw-2807 841 10 365 365 NUM taxlaw-2807 841 11 - - SYM taxlaw-2807 841 12 66 66 NUM taxlaw-2807 841 13 . . PUNCT taxlaw-2807 842 1 194 194 NUM taxlaw-2807 843 1 i i PRON taxlaw-2807 843 2 d. d. PROPN taxlaw-2807 843 3 at at ADP taxlaw-2807 843 4 369 369 NUM taxlaw-2807 843 5 . . PUNCT taxlaw-2807 844 1 195 195 NUM taxlaw-2807 844 2 see see VERB taxlaw-2807 844 3 benshalom benshalom NOUN taxlaw-2807 844 4 & & CCONJ taxlaw-2807 844 5 stead stead PROPN taxlaw-2807 844 6 , , PUNCT taxlaw-2807 844 7 supra supra PROPN taxlaw-2807 844 8 note note NOUN taxlaw-2807 844 9 15 15 NUM taxlaw-2807 844 10 , , PUNCT taxlaw-2807 844 11 at at ADP taxlaw-2807 844 12 1557 1557 NUM taxlaw-2807 844 13 . . PUNCT taxlaw-2807 845 1 196 196 NUM taxlaw-2807 845 2 see see VERB taxlaw-2807 845 3 schenk schenk PROPN taxlaw-2807 845 4 , , PUNCT taxlaw-2807 845 5 supra supra PROPN taxlaw-2807 845 6 note note PROPN taxlaw-2807 845 7 12 12 NUM taxlaw-2807 845 8 , , PUNCT taxlaw-2807 845 9 at at ADP taxlaw-2807 845 10 374 374 NUM taxlaw-2807 845 11 . . PUNCT taxlaw-2807 845 12 197 197 NUM taxlaw-2807 845 13 see see VERB taxlaw-2807 845 14 supra supra PROPN taxlaw-2807 845 15 note note PROPN taxlaw-2807 845 16 70 70 NUM taxlaw-2807 845 17 ( ( PUNCT taxlaw-2807 845 18 discussing discuss VERB taxlaw-2807 845 19 how how SCONJ taxlaw-2807 845 20 administrative administrative ADJ taxlaw-2807 845 21 costs cost NOUN taxlaw-2807 845 22 of of ADP taxlaw-2807 845 23 valuation valuation NOUN taxlaw-2807 845 24 could could AUX taxlaw-2807 845 25 be be AUX taxlaw-2807 845 26 reduced reduce VERB taxlaw-2807 845 27 by by ADP taxlaw-2807 845 28 nonannual nonannual ADJ taxlaw-2807 845 29 and and CCONJ taxlaw-2807 845 30 statistical statistical ADJ taxlaw-2807 845 31 valuation valuation NOUN taxlaw-2807 845 32 ) ) PUNCT taxlaw-2807 845 33 . . PUNCT taxlaw-2807 846 1 198 198 NUM taxlaw-2807 846 2 see see VERB taxlaw-2807 846 3 supra supra PROPN taxlaw-2807 846 4 note note PROPN taxlaw-2807 846 5 72 72 NUM taxlaw-2807 846 6 . . PUNCT taxlaw-2807 846 7 2011 2011 NUM taxlaw-2807 846 8 ] ] PUNCT taxlaw-2807 846 9 realization realization NOUN taxlaw-2807 846 10 and and CCONJ taxlaw-2807 846 11 progressivity progressivity NOUN taxlaw-2807 846 12 81 81 NUM taxlaw-2807 846 13 believe believe VERB taxlaw-2807 846 14 that that SCONJ taxlaw-2807 846 15 a a DET taxlaw-2807 846 16 more more ADV taxlaw-2807 846 17 nuanced nuanced ADJ taxlaw-2807 846 18 distinction distinction NOUN taxlaw-2807 846 19 between between ADP taxlaw-2807 846 20 emotionally emotionally ADV taxlaw-2807 846 21 non non ADJ taxlaw-2807 846 22 - - ADJ taxlaw-2807 846 23 fungible fungible ADJ taxlaw-2807 846 24 assets asset NOUN taxlaw-2807 846 25 may may AUX taxlaw-2807 846 26 be be AUX taxlaw-2807 846 27 possible possible ADJ taxlaw-2807 846 28 . . PUNCT taxlaw-2807 847 1 199 199 NUM taxlaw-2807 847 2 this this DET taxlaw-2807 847 3 article article NOUN taxlaw-2807 847 4 ’s ’s PART taxlaw-2807 847 5 analysis analysis NOUN taxlaw-2807 847 6 establishes establish VERB taxlaw-2807 847 7 why why SCONJ taxlaw-2807 847 8 limiting limit VERB taxlaw-2807 847 9 realization realization NOUN taxlaw-2807 847 10 benefits benefit NOUN taxlaw-2807 847 11 to to ADP taxlaw-2807 847 12 personal personal ADJ taxlaw-2807 847 13 assets asset NOUN taxlaw-2807 847 14 would would AUX taxlaw-2807 847 15 increase increase VERB taxlaw-2807 847 16 distributional distributional ADJ taxlaw-2807 847 17 fairness fairness NOUN taxlaw-2807 847 18 and and CCONJ taxlaw-2807 847 19 calls call VERB taxlaw-2807 847 20 for for ADP taxlaw-2807 847 21 expanding expand VERB taxlaw-2807 847 22 mark mark NOUN taxlaw-2807 847 23 - - PUNCT taxlaw-2807 847 24 tomarket tomarket NOUN taxlaw-2807 847 25 treatment treatment NOUN taxlaw-2807 847 26 to to ADP taxlaw-2807 847 27 non non ADJ taxlaw-2807 847 28 - - ADJ taxlaw-2807 847 29 personal personal ADJ taxlaw-2807 847 30 assets asset NOUN taxlaw-2807 847 31 . . PUNCT taxlaw-2807 848 1 however however ADV taxlaw-2807 848 2 , , PUNCT taxlaw-2807 848 3 the the DET taxlaw-2807 848 4 remainder remainder NOUN taxlaw-2807 848 5 of of ADP taxlaw-2807 848 6 this this DET taxlaw-2807 848 7 part part NOUN taxlaw-2807 848 8 stresses stress VERB taxlaw-2807 848 9 that that SCONJ taxlaw-2807 848 10 the the DET taxlaw-2807 848 11 benefit benefit NOUN taxlaw-2807 848 12 of of ADP taxlaw-2807 848 13 such such DET taxlaw-2807 848 14 an an DET taxlaw-2807 848 15 expansion expansion NOUN taxlaw-2807 848 16 should should AUX taxlaw-2807 848 17 be be AUX taxlaw-2807 848 18 weighed weigh VERB taxlaw-2807 848 19 against against ADP taxlaw-2807 848 20 its its PRON taxlaw-2807 848 21 social social PROPN taxlaw-2807 848 22 costs.200 costs.200 PROPN taxlaw-2807 848 23 b. b. PROPN taxlaw-2807 848 24 future future ADJ taxlaw-2807 848 25 avenues avenue NOUN taxlaw-2807 848 26 of of ADP taxlaw-2807 848 27 research research NOUN taxlaw-2807 848 28 in in ADP taxlaw-2807 848 29 suggesting suggest VERB taxlaw-2807 848 30 a a DET taxlaw-2807 848 31 new new ADJ taxlaw-2807 848 32 category category NOUN taxlaw-2807 848 33 of of ADP taxlaw-2807 848 34 personal personal ADJ taxlaw-2807 848 35 assets asset NOUN taxlaw-2807 848 36 , , PUNCT taxlaw-2807 848 37 we we PRON taxlaw-2807 848 38 lack lack VERB taxlaw-2807 848 39 empirics empiric NOUN taxlaw-2807 848 40 to to PART taxlaw-2807 848 41 propose propose VERB taxlaw-2807 848 42 any any DET taxlaw-2807 848 43 bolder bold ADJ taxlaw-2807 848 44 tax tax NOUN taxlaw-2807 848 45 reform reform NOUN taxlaw-2807 848 46 proposal proposal NOUN taxlaw-2807 848 47 than than ADP taxlaw-2807 848 48 what what PRON taxlaw-2807 848 49 we we PRON taxlaw-2807 848 50 have have AUX taxlaw-2807 848 51 outlined outline VERB taxlaw-2807 848 52 with with ADP taxlaw-2807 848 53 respect respect NOUN taxlaw-2807 848 54 to to ADP taxlaw-2807 848 55 investment investment NOUN taxlaw-2807 848 56 assets asset NOUN taxlaw-2807 848 57 . . PUNCT taxlaw-2807 849 1 however however ADV taxlaw-2807 849 2 , , PUNCT taxlaw-2807 849 3 we we PRON taxlaw-2807 849 4 believe believe VERB taxlaw-2807 849 5 that that SCONJ taxlaw-2807 849 6 it it PRON taxlaw-2807 849 7 is be AUX taxlaw-2807 849 8 worthwhile worthwhile ADJ taxlaw-2807 849 9 to to PART taxlaw-2807 849 10 consider consider VERB taxlaw-2807 849 11 some some DET taxlaw-2807 849 12 potential potential ADJ taxlaw-2807 849 13 areas area NOUN taxlaw-2807 849 14 in in ADP taxlaw-2807 849 15 which which PRON taxlaw-2807 849 16 this this DET taxlaw-2807 849 17 article article NOUN taxlaw-2807 849 18 's 's PART taxlaw-2807 849 19 normative normative ADJ taxlaw-2807 849 20 analysis analysis NOUN taxlaw-2807 849 21 could could AUX taxlaw-2807 849 22 be be AUX taxlaw-2807 849 23 developed develop VERB taxlaw-2807 849 24 . . PUNCT taxlaw-2807 850 1 earlier early ADV taxlaw-2807 850 2 , , PUNCT taxlaw-2807 850 3 we we PRON taxlaw-2807 850 4 described describe VERB taxlaw-2807 850 5 the the DET taxlaw-2807 850 6 realization realization NOUN taxlaw-2807 850 7 literature literature NOUN taxlaw-2807 850 8 as as ADP taxlaw-2807 850 9 dealing deal VERB taxlaw-2807 850 10 with with ADP taxlaw-2807 850 11 the the DET taxlaw-2807 850 12 consequences consequence NOUN taxlaw-2807 850 13 of of ADP taxlaw-2807 850 14 tax tax NOUN taxlaw-2807 850 15 assessment assessment NOUN taxlaw-2807 850 16 mistakes.201 mistakes.201 NOUN taxlaw-2807 850 17 however however ADV taxlaw-2807 850 18 , , PUNCT taxlaw-2807 850 19 as as SCONJ taxlaw-2807 850 20 we we PRON taxlaw-2807 850 21 explained explain VERB taxlaw-2807 850 22 , , PUNCT taxlaw-2807 850 23 market market NOUN taxlaw-2807 850 24 valuation valuation NOUN taxlaw-2807 850 25 issues issue NOUN taxlaw-2807 850 26 should should AUX taxlaw-2807 850 27 become become VERB taxlaw-2807 850 28 less less ADJ taxlaw-2807 850 29 of of ADP taxlaw-2807 850 30 a a DET taxlaw-2807 850 31 problem problem NOUN taxlaw-2807 850 32 over over ADP taxlaw-2807 850 33 time time NOUN taxlaw-2807 850 34 — — PUNCT taxlaw-2807 850 35 a a DET taxlaw-2807 850 36 fact fact NOUN taxlaw-2807 850 37 that that SCONJ taxlaw-2807 850 38 only only ADV taxlaw-2807 850 39 highlights highlight VERB taxlaw-2807 850 40 the the DET taxlaw-2807 850 41 problem problem NOUN taxlaw-2807 850 42 with with ADP taxlaw-2807 850 43 personal personal ADJ taxlaw-2807 850 44 assets asset NOUN taxlaw-2807 850 45 . . PUNCT taxlaw-2807 851 1 if if SCONJ taxlaw-2807 851 2 the the DET taxlaw-2807 851 3 long long ADV taxlaw-2807 851 4 feared fear VERB taxlaw-2807 851 5 mistakes mistake NOUN taxlaw-2807 851 6 in in ADP taxlaw-2807 851 7 market market NOUN taxlaw-2807 851 8 price price NOUN taxlaw-2807 851 9 assessment assessment NOUN taxlaw-2807 851 10 are be AUX taxlaw-2807 851 11 indeed indeed ADV taxlaw-2807 851 12 becoming become VERB taxlaw-2807 851 13 less less ADV taxlaw-2807 851 14 common common ADJ taxlaw-2807 851 15 , , PUNCT taxlaw-2807 851 16 then then ADV taxlaw-2807 851 17 the the DET taxlaw-2807 851 18 relative relative ADJ taxlaw-2807 851 19 role role NOUN taxlaw-2807 851 20 of of ADP taxlaw-2807 851 21 mistakes mistake NOUN taxlaw-2807 851 22 with with ADP taxlaw-2807 851 23 respect respect NOUN taxlaw-2807 851 24 to to ADP taxlaw-2807 851 25 taxpayers taxpayer NOUN taxlaw-2807 851 26 ’ ’ PART taxlaw-2807 851 27 subjective subjective ADJ taxlaw-2807 851 28 values value NOUN taxlaw-2807 851 29 of of ADP taxlaw-2807 851 30 personal personal ADJ taxlaw-2807 851 31 assets asset NOUN taxlaw-2807 851 32 would would AUX taxlaw-2807 851 33 increase increase VERB taxlaw-2807 851 34 . . PUNCT taxlaw-2807 852 1 put put VERB taxlaw-2807 852 2 differently differently ADV taxlaw-2807 852 3 , , PUNCT taxlaw-2807 852 4 we we PRON taxlaw-2807 852 5 believe believe VERB taxlaw-2807 852 6 that that SCONJ taxlaw-2807 852 7 as as SCONJ taxlaw-2807 852 8 market market NOUN taxlaw-2807 852 9 valuation valuation NOUN taxlaw-2807 852 10 of of ADP taxlaw-2807 852 11 both both CCONJ taxlaw-2807 852 12 personal personal ADJ taxlaw-2807 852 13 and and CCONJ taxlaw-2807 852 14 non non ADJ taxlaw-2807 852 15 - - ADJ taxlaw-2807 852 16 personal personal ADJ taxlaw-2807 852 17 assets asset NOUN taxlaw-2807 852 18 becomes become VERB taxlaw-2807 852 19 more more ADV taxlaw-2807 852 20 accurate accurate ADJ taxlaw-2807 852 21 , , PUNCT taxlaw-2807 852 22 policymakers policymaker NOUN taxlaw-2807 852 23 will will AUX taxlaw-2807 852 24 more more ADV taxlaw-2807 852 25 frequently frequently ADV taxlaw-2807 852 26 have have VERB taxlaw-2807 852 27 to to PART taxlaw-2807 852 28 confront confront VERB taxlaw-2807 852 29 the the DET taxlaw-2807 852 30 problem problem NOUN taxlaw-2807 852 31 we we PRON taxlaw-2807 852 32 identified identify VERB taxlaw-2807 852 33 : : PUNCT taxlaw-2807 852 34 taxpayers taxpayer NOUN taxlaw-2807 852 35 ’ ' PUNCT taxlaw-2807 852 36 economic economic ADJ taxlaw-2807 852 37 well well ADV taxlaw-2807 852 38 - - PUNCT taxlaw-2807 852 39 being being NOUN taxlaw-2807 852 40 from from ADP taxlaw-2807 852 41 personal personal ADJ taxlaw-2807 852 42 assets asset NOUN taxlaw-2807 852 43 is be AUX taxlaw-2807 852 44 not not PART taxlaw-2807 852 45 accurately accurately ADV taxlaw-2807 852 46 reflected reflect VERB taxlaw-2807 852 47 in in ADP taxlaw-2807 852 48 the the DET taxlaw-2807 852 49 assets asset NOUN taxlaw-2807 852 50 ’ ' PUNCT taxlaw-2807 852 51 market market NOUN taxlaw-2807 852 52 prices price NOUN taxlaw-2807 852 53 . . PUNCT taxlaw-2807 853 1 future future ADJ taxlaw-2807 853 2 research research NOUN taxlaw-2807 853 3 on on ADP taxlaw-2807 853 4 this this DET taxlaw-2807 853 5 topic topic NOUN taxlaw-2807 853 6 requires require VERB taxlaw-2807 853 7 empirical empirical ADJ taxlaw-2807 853 8 inquiry inquiry NOUN taxlaw-2807 853 9 about about ADP taxlaw-2807 853 10 the the DET taxlaw-2807 853 11 relative relative ADJ taxlaw-2807 853 12 proportions proportion NOUN taxlaw-2807 853 13 that that PRON taxlaw-2807 853 14 personal personal ADJ taxlaw-2807 853 15 assets asset NOUN taxlaw-2807 853 16 represent represent VERB taxlaw-2807 853 17 in in ADP taxlaw-2807 853 18 the the DET taxlaw-2807 853 19 overall overall ADJ taxlaw-2807 853 20 pool pool NOUN taxlaw-2807 853 21 of of ADP taxlaw-2807 853 22 assets asset NOUN taxlaw-2807 853 23 . . PUNCT taxlaw-2807 854 1 however however ADV taxlaw-2807 854 2 , , PUNCT taxlaw-2807 854 3 it it PRON taxlaw-2807 854 4 should should AUX taxlaw-2807 854 5 also also ADV taxlaw-2807 854 6 focus focus VERB taxlaw-2807 854 7 on on ADP taxlaw-2807 854 8 theoretical theoretical ADJ taxlaw-2807 854 9 inquiries inquiry NOUN taxlaw-2807 854 10 with with ADP taxlaw-2807 854 11 respect respect NOUN taxlaw-2807 854 12 to to ADP taxlaw-2807 854 13 tax tax NOUN taxlaw-2807 854 14 policy policy NOUN taxlaw-2807 854 15 . . PUNCT taxlaw-2807 855 1 another another DET taxlaw-2807 855 2 important important ADJ taxlaw-2807 855 3 issue issue NOUN taxlaw-2807 855 4 in in ADP taxlaw-2807 855 5 shifting shift VERB taxlaw-2807 855 6 to to ADP taxlaw-2807 855 7 a a DET taxlaw-2807 855 8 hybrid hybrid ADJ taxlaw-2807 855 9 regime regime NOUN taxlaw-2807 855 10 is be AUX taxlaw-2807 855 11 how how SCONJ taxlaw-2807 855 12 tax tax NOUN taxlaw-2807 855 13 authorities authority NOUN taxlaw-2807 855 14 should should AUX taxlaw-2807 855 15 distinguish distinguish VERB taxlaw-2807 855 16 between between ADP taxlaw-2807 855 17 personal personal ADJ taxlaw-2807 855 18 and and CCONJ taxlaw-2807 855 19 nonpersonal nonpersonal ADJ taxlaw-2807 855 20 assets asset NOUN taxlaw-2807 855 21 . . PUNCT taxlaw-2807 856 1 we we PRON taxlaw-2807 856 2 first first ADV taxlaw-2807 856 3 explain explain VERB taxlaw-2807 856 4 the the DET taxlaw-2807 856 5 main main ADJ taxlaw-2807 856 6 theoretical theoretical ADJ taxlaw-2807 856 7 threads thread NOUN taxlaw-2807 856 8 of of ADP taxlaw-2807 856 9 the the DET taxlaw-2807 856 10 topic topic NOUN taxlaw-2807 856 11 and and CCONJ taxlaw-2807 856 12 then then ADV taxlaw-2807 856 13 elaborate elaborate VERB taxlaw-2807 856 14 on on ADP taxlaw-2807 856 15 how how SCONJ taxlaw-2807 856 16 they they PRON taxlaw-2807 856 17 affect affect VERB taxlaw-2807 856 18 our our PRON taxlaw-2807 856 19 argument argument NOUN taxlaw-2807 856 20 for for ADP taxlaw-2807 856 21 a a DET taxlaw-2807 856 22 hybrid hybrid ADJ taxlaw-2807 856 23 mark mark NOUN taxlaw-2807 856 24 - - PUNCT taxlaw-2807 856 25 to to ADP taxlaw-2807 856 26 - - PUNCT taxlaw-2807 856 27 market market NOUN taxlaw-2807 856 28 realization realization NOUN taxlaw-2807 856 29 regime regime NOUN taxlaw-2807 856 30 . . PUNCT taxlaw-2807 857 1 by by ADP taxlaw-2807 857 2 their their PRON taxlaw-2807 857 3 very very ADJ taxlaw-2807 857 4 nature nature NOUN taxlaw-2807 857 5 , , PUNCT taxlaw-2807 857 6 partial partial ADJ taxlaw-2807 857 7 mark mark NOUN taxlaw-2807 857 8 - - PUNCT taxlaw-2807 857 9 to to ADP taxlaw-2807 857 10 - - PUNCT taxlaw-2807 857 11 market market NOUN taxlaw-2807 857 12 regimes regime NOUN taxlaw-2807 857 13 differentiate differentiate VERB taxlaw-2807 857 14 the the DET taxlaw-2807 857 15 tax tax NOUN taxlaw-2807 857 16 treatment treatment NOUN taxlaw-2807 857 17 of of ADP taxlaw-2807 857 18 certain certain ADJ taxlaw-2807 857 19 assets asset NOUN taxlaw-2807 857 20 and and CCONJ taxlaw-2807 857 21 taxpayers taxpayer NOUN taxlaw-2807 857 22 . . PUNCT taxlaw-2807 858 1 this this DET taxlaw-2807 858 2 differentiation differentiation NOUN taxlaw-2807 858 3 may may AUX taxlaw-2807 858 4 result result VERB taxlaw-2807 858 5 in in ADP taxlaw-2807 858 6 discontinuities discontinuity NOUN taxlaw-2807 858 7 that that PRON taxlaw-2807 858 8 carry carry VERB taxlaw-2807 858 9 potential potential NOUN taxlaw-2807 858 10 for for ADP taxlaw-2807 858 11 distortions distortion NOUN taxlaw-2807 858 12 and and CCONJ taxlaw-2807 858 13 inequities.202 inequities.202 PRON taxlaw-2807 858 14 the the DET taxlaw-2807 858 15 key key ADJ taxlaw-2807 858 16 element element NOUN taxlaw-2807 858 17 in in ADP taxlaw-2807 858 18 determining determine VERB taxlaw-2807 858 19 whether whether SCONJ taxlaw-2807 858 20 a a DET taxlaw-2807 858 21 shift shift NOUN taxlaw-2807 858 22 to to ADP taxlaw-2807 858 23 a a DET taxlaw-2807 858 24 partial partial ADJ taxlaw-2807 858 25 mark mark NOUN taxlaw-2807 858 26 - - PUNCT taxlaw-2807 858 27 to to ADP taxlaw-2807 858 28 - - PUNCT taxlaw-2807 858 29 market market NOUN taxlaw-2807 858 30 regime regime NOUN taxlaw-2807 858 31 would would AUX taxlaw-2807 858 32 be be AUX taxlaw-2807 858 33 beneficial beneficial ADJ taxlaw-2807 858 34 is be AUX taxlaw-2807 858 35 whether whether SCONJ taxlaw-2807 858 36 tax tax NOUN taxlaw-2807 858 37 authorities authority NOUN taxlaw-2807 858 38 could could AUX taxlaw-2807 858 39 easily easily ADV taxlaw-2807 858 40 distinguish distinguish VERB taxlaw-2807 858 41 between between ADP taxlaw-2807 858 42 types type NOUN taxlaw-2807 858 43 of of ADP taxlaw-2807 858 44 assets asset NOUN taxlaw-2807 858 45 . . PUNCT taxlaw-2807 859 1 this this PRON taxlaw-2807 859 2 is be AUX taxlaw-2807 859 3 because because SCONJ taxlaw-2807 859 4 such such DET taxlaw-2807 859 5 a a DET taxlaw-2807 859 6 shift shift NOUN taxlaw-2807 859 7 would would AUX taxlaw-2807 859 8 require require VERB taxlaw-2807 859 9 tax tax NOUN taxlaw-2807 859 10 authorities authority NOUN taxlaw-2807 859 11 to to PART taxlaw-2807 859 12 develop develop VERB taxlaw-2807 859 13 a a DET taxlaw-2807 859 14 set set NOUN taxlaw-2807 859 15 of of ADP taxlaw-2807 859 16 coherent coherent ADJ taxlaw-2807 859 17 and and CCONJ taxlaw-2807 859 18 consistent consistent ADJ taxlaw-2807 859 19 recognition recognition NOUN taxlaw-2807 859 20 rules rule NOUN taxlaw-2807 859 21 to to PART taxlaw-2807 859 22 distinguish distinguish VERB taxlaw-2807 859 23 between between ADP taxlaw-2807 859 24 assets asset NOUN taxlaw-2807 859 25 that that PRON taxlaw-2807 859 26 should should AUX taxlaw-2807 859 27 be be AUX taxlaw-2807 859 28 taxed tax VERB taxlaw-2807 859 29 on on ADP taxlaw-2807 859 30 a a DET taxlaw-2807 859 31 mark mark NOUN taxlaw-2807 859 32 - - PUNCT taxlaw-2807 859 33 to to ADP taxlaw-2807 859 34 - - PUNCT taxlaw-2807 859 35 market market NOUN taxlaw-2807 859 36 basis basis NOUN taxlaw-2807 859 37 and and CCONJ taxlaw-2807 859 38 those those PRON taxlaw-2807 859 39 that that PRON taxlaw-2807 859 40 should should AUX taxlaw-2807 859 41 not not PART taxlaw-2807 859 42 . . PUNCT taxlaw-2807 860 1 the the DET taxlaw-2807 860 2 benefits benefit NOUN taxlaw-2807 860 3 and and CCONJ taxlaw-2807 860 4 administrability administrability NOUN taxlaw-2807 860 5 of of ADP taxlaw-2807 860 6 a a DET taxlaw-2807 860 7 partial partial ADJ taxlaw-2807 860 8 mark mark NOUN taxlaw-2807 860 9 - - PUNCT taxlaw-2807 860 10 tomarket tomarket NOUN taxlaw-2807 860 11 tax tax NOUN taxlaw-2807 860 12 regime regime NOUN taxlaw-2807 860 13 would would AUX taxlaw-2807 860 14 turn turn VERB taxlaw-2807 860 15 on on ADP taxlaw-2807 860 16 the the DET taxlaw-2807 860 17 precision precision NOUN taxlaw-2807 860 18 of of ADP taxlaw-2807 860 19 the the DET taxlaw-2807 860 20 recognition recognition NOUN taxlaw-2807 860 21 rules rule NOUN taxlaw-2807 860 22 and and CCONJ taxlaw-2807 860 23 the the DET taxlaw-2807 860 24 elasticity elasticity NOUN taxlaw-2807 860 25 of of ADP taxlaw-2807 860 26 demand demand NOUN taxlaw-2807 860 27 for for ADP taxlaw-2807 860 28 specific specific ADJ taxlaw-2807 860 29 assets asset NOUN taxlaw-2807 860 30 . . PUNCT taxlaw-2807 861 1 applying apply VERB taxlaw-2807 861 2 mark mark NOUN taxlaw-2807 861 3 - - PUNCT taxlaw-2807 861 4 to to ADP taxlaw-2807 861 5 - - PUNCT taxlaw-2807 861 6 market market NOUN taxlaw-2807 861 7 taxation taxation NOUN taxlaw-2807 861 8 to to ADP taxlaw-2807 861 9 assets asset NOUN taxlaw-2807 861 10 that that PRON taxlaw-2807 861 11 are be AUX taxlaw-2807 861 12 very very ADV taxlaw-2807 861 13 elastic elastic ADJ taxlaw-2807 861 14 — — PUNCT taxlaw-2807 861 15 perhaps perhaps ADV taxlaw-2807 861 16 because because SCONJ taxlaw-2807 861 17 there there PRON taxlaw-2807 861 18 are be VERB taxlaw-2807 861 19 many many ADJ taxlaw-2807 861 20 non non ADJ taxlaw-2807 861 21 - - ADJ taxlaw-2807 861 22 mark mark ADJ taxlaw-2807 861 23 - - PUNCT taxlaw-2807 861 24 to to ADP taxlaw-2807 861 25 - - PUNCT taxlaw-2807 861 26 market market NOUN taxlaw-2807 861 27 assets asset NOUN taxlaw-2807 861 28 that that PRON taxlaw-2807 861 29 can can AUX taxlaw-2807 861 30 easily easily ADV taxlaw-2807 861 31 substitute substitute VERB taxlaw-2807 861 32 for for ADP taxlaw-2807 861 33 them they PRON taxlaw-2807 861 34 — — PUNCT taxlaw-2807 861 35 would would AUX taxlaw-2807 861 36 be be AUX taxlaw-2807 861 37 difficult difficult ADJ taxlaw-2807 861 38 or or CCONJ taxlaw-2807 861 39 counterproductive counterproductive ADJ taxlaw-2807 861 40 . . PUNCT taxlaw-2807 862 1 if if SCONJ taxlaw-2807 862 2 taxpayers taxpayer NOUN taxlaw-2807 862 3 could could AUX taxlaw-2807 862 4 199 199 NUM taxlaw-2807 862 5 mark mark NOUN taxlaw-2807 862 6 p. p. PROPN taxlaw-2807 862 7 gergen gergen PROPN taxlaw-2807 862 8 , , PUNCT taxlaw-2807 862 9 the the DET taxlaw-2807 862 10 effects effect NOUN taxlaw-2807 862 11 of of ADP taxlaw-2807 862 12 price price NOUN taxlaw-2807 862 13 volatility volatility NOUN taxlaw-2807 862 14 and and CCONJ taxlaw-2807 862 15 strategic strategic ADJ taxlaw-2807 862 16 trading trading NOUN taxlaw-2807 862 17 under under ADP taxlaw-2807 862 18 realization realization NOUN taxlaw-2807 862 19 , , PUNCT taxlaw-2807 862 20 expected expect VERB taxlaw-2807 862 21 return return NOUN taxlaw-2807 862 22 and and CCONJ taxlaw-2807 862 23 retrospective retrospective ADJ taxlaw-2807 862 24 taxation taxation NOUN taxlaw-2807 862 25 , , PUNCT taxlaw-2807 862 26 49 49 NUM taxlaw-2807 862 27 tax tax NOUN taxlaw-2807 862 28 l. l. PROPN taxlaw-2807 862 29 rev rev PROPN taxlaw-2807 862 30 . . PROPN taxlaw-2807 863 1 209 209 NUM taxlaw-2807 863 2 , , PUNCT taxlaw-2807 863 3 216 216 NUM taxlaw-2807 863 4 ( ( PUNCT taxlaw-2807 863 5 1994 1994 NUM taxlaw-2807 863 6 ) ) PUNCT taxlaw-2807 863 7 . . PUNCT taxlaw-2807 864 1 200 200 NUM taxlaw-2807 864 2 deborah deborah PROPN taxlaw-2807 864 3 h. h. PROPN taxlaw-2807 864 4 schenk schenk PROPN taxlaw-2807 864 5 , , PUNCT taxlaw-2807 864 6 an an DET taxlaw-2807 864 7 efficiency efficiency NOUN taxlaw-2807 864 8 approach approach NOUN taxlaw-2807 864 9 to to ADP taxlaw-2807 864 10 reforming reform VERB taxlaw-2807 864 11 a a DET taxlaw-2807 864 12 realization realization NOUN taxlaw-2807 864 13 - - PUNCT taxlaw-2807 864 14 based base VERB taxlaw-2807 864 15 tax tax NOUN taxlaw-2807 864 16 , , PUNCT taxlaw-2807 864 17 57 57 NUM taxlaw-2807 864 18 tax tax NOUN taxlaw-2807 864 19 l. l. PROPN taxlaw-2807 864 20 rev rev PROPN taxlaw-2807 864 21 . . PROPN taxlaw-2807 864 22 503 503 NUM taxlaw-2807 864 23 , , PUNCT taxlaw-2807 864 24 504 504 NUM taxlaw-2807 864 25 ( ( PUNCT taxlaw-2807 864 26 2005 2005 NUM taxlaw-2807 864 27 ) ) PUNCT taxlaw-2807 864 28 ( ( PUNCT taxlaw-2807 864 29 arguing argue VERB taxlaw-2807 864 30 that that SCONJ taxlaw-2807 864 31 not not PART taxlaw-2807 864 32 every every DET taxlaw-2807 864 33 movement movement NOUN taxlaw-2807 864 34 away away ADV taxlaw-2807 864 35 from from ADP taxlaw-2807 864 36 realization realization NOUN taxlaw-2807 864 37 towards towards ADP taxlaw-2807 864 38 accrual accrual ADJ taxlaw-2807 864 39 taxation taxation NOUN taxlaw-2807 864 40 is be AUX taxlaw-2807 864 41 desirable desirable ADJ taxlaw-2807 864 42 and and CCONJ taxlaw-2807 864 43 that that SCONJ taxlaw-2807 864 44 each each DET taxlaw-2807 864 45 step step NOUN taxlaw-2807 864 46 should should AUX taxlaw-2807 864 47 be be AUX taxlaw-2807 864 48 judged judge VERB taxlaw-2807 864 49 by by ADP taxlaw-2807 864 50 its its PRON taxlaw-2807 864 51 revenue revenue NOUN taxlaw-2807 864 52 gains gain NOUN taxlaw-2807 864 53 and and CCONJ taxlaw-2807 864 54 efficiency efficiency NOUN taxlaw-2807 864 55 costs cost NOUN taxlaw-2807 864 56 ) ) PUNCT taxlaw-2807 864 57 . . PUNCT taxlaw-2807 865 1 201 201 NUM taxlaw-2807 865 2 see see VERB taxlaw-2807 865 3 supra supra PROPN taxlaw-2807 865 4 part part NOUN taxlaw-2807 865 5 iii.b iii.b PROPN taxlaw-2807 865 6 . . NOUN taxlaw-2807 866 1 202 202 NUM taxlaw-2807 866 2 taxpayers taxpayer NOUN taxlaw-2807 866 3 have have VERB taxlaw-2807 866 4 incentives incentive NOUN taxlaw-2807 866 5 to to PART taxlaw-2807 866 6 tax tax NOUN taxlaw-2807 866 7 plan plan NOUN taxlaw-2807 866 8 against against ADP taxlaw-2807 866 9 the the DET taxlaw-2807 866 10 fractional fractional ADJ taxlaw-2807 866 11 hybrid hybrid ADJ taxlaw-2807 866 12 regime regime NOUN taxlaw-2807 866 13 . . PUNCT taxlaw-2807 867 1 schenk schenk PROPN taxlaw-2807 867 2 , , PUNCT taxlaw-2807 867 3 supra supra PROPN taxlaw-2807 867 4 note note VERB taxlaw-2807 867 5 200 200 NUM taxlaw-2807 867 6 , , PUNCT taxlaw-2807 867 7 at at ADP taxlaw-2807 867 8 519 519 NUM taxlaw-2807 867 9 - - SYM taxlaw-2807 867 10 24 24 NUM taxlaw-2807 867 11 . . PUNCT taxlaw-2807 868 1 for for ADP taxlaw-2807 868 2 example example NOUN taxlaw-2807 868 3 , , PUNCT taxlaw-2807 868 4 taxpayers taxpayer NOUN taxlaw-2807 868 5 could could AUX taxlaw-2807 868 6 include include VERB taxlaw-2807 868 7 much much ADJ taxlaw-2807 868 8 of of ADP taxlaw-2807 868 9 their their PRON taxlaw-2807 868 10 debt debt NOUN taxlaw-2807 868 11 within within ADP taxlaw-2807 868 12 the the DET taxlaw-2807 868 13 scope scope NOUN taxlaw-2807 868 14 of of ADP taxlaw-2807 868 15 the the DET taxlaw-2807 868 16 mark mark NOUN taxlaw-2807 868 17 - - PUNCT taxlaw-2807 868 18 tomarket tomarket NOUN taxlaw-2807 868 19 regime regime NOUN taxlaw-2807 868 20 while while SCONJ taxlaw-2807 868 21 shifting shift VERB taxlaw-2807 868 22 their their PRON taxlaw-2807 868 23 appreciated appreciated ADJ taxlaw-2807 868 24 assets asset NOUN taxlaw-2807 868 25 outside outside ADP taxlaw-2807 868 26 of of ADP taxlaw-2807 868 27 it it PRON taxlaw-2807 868 28 . . PUNCT taxlaw-2807 869 1 see see VERB taxlaw-2807 869 2 shakow shakow PROPN taxlaw-2807 869 3 , , PUNCT taxlaw-2807 869 4 supra supra PROPN taxlaw-2807 869 5 note note NOUN taxlaw-2807 869 6 9 9 NUM taxlaw-2807 869 7 , , PUNCT taxlaw-2807 869 8 at at ADP taxlaw-2807 869 9 1165–66 1165–66 NUM taxlaw-2807 869 10 ; ; PUNCT taxlaw-2807 869 11 weisbach weisbach NOUN taxlaw-2807 869 12 , , PUNCT taxlaw-2807 869 13 supra supra ADJ taxlaw-2807 869 14 note note NOUN taxlaw-2807 869 15 1 1 NUM taxlaw-2807 869 16 , , PUNCT taxlaw-2807 869 17 at at ADP taxlaw-2807 869 18 128 128 NUM taxlaw-2807 869 19 . . PUNCT taxlaw-2807 870 1 82 82 NUM taxlaw-2807 870 2 columbia columbia PROPN taxlaw-2807 870 3 journal journal PROPN taxlaw-2807 870 4 of of ADP taxlaw-2807 870 5 tax tax NOUN taxlaw-2807 870 6 law law NOUN taxlaw-2807 870 7 [ [ X taxlaw-2807 870 8 vol.3:43 vol.3:43 PROPN taxlaw-2807 870 9 costlessly costlessly ADV taxlaw-2807 870 10 transition transition NOUN taxlaw-2807 870 11 to to ADP taxlaw-2807 870 12 a a DET taxlaw-2807 870 13 substitute substitute NOUN taxlaw-2807 870 14 , , PUNCT taxlaw-2807 870 15 most most ADJ taxlaw-2807 870 16 would would AUX taxlaw-2807 870 17 try try VERB taxlaw-2807 870 18 to to PART taxlaw-2807 870 19 do do VERB taxlaw-2807 870 20 so so ADV taxlaw-2807 870 21 , , PUNCT taxlaw-2807 870 22 which which PRON taxlaw-2807 870 23 would would AUX taxlaw-2807 870 24 result result VERB taxlaw-2807 870 25 in in ADP taxlaw-2807 870 26 no no DET taxlaw-2807 870 27 social social ADJ taxlaw-2807 870 28 gain gain NOUN taxlaw-2807 870 29 in in ADP taxlaw-2807 870 30 terms term NOUN taxlaw-2807 870 31 of of ADP taxlaw-2807 870 32 revenue revenue NOUN taxlaw-2807 870 33 , , PUNCT taxlaw-2807 870 34 efficiency efficiency NOUN taxlaw-2807 870 35 , , PUNCT taxlaw-2807 870 36 or or CCONJ taxlaw-2807 870 37 equity.203 equity.203 NUM taxlaw-2807 870 38 in in ADP taxlaw-2807 870 39 this this DET taxlaw-2807 870 40 type type NOUN taxlaw-2807 870 41 of of ADP taxlaw-2807 870 42 situation situation NOUN taxlaw-2807 870 43 it it PRON taxlaw-2807 870 44 may may AUX taxlaw-2807 870 45 be be AUX taxlaw-2807 870 46 advisable advisable ADJ taxlaw-2807 870 47 to to ADP taxlaw-2807 870 48 either either CCONJ taxlaw-2807 870 49 avoid avoid VERB taxlaw-2807 870 50 mark mark NOUN taxlaw-2807 870 51 - - PUNCT taxlaw-2807 870 52 to to ADP taxlaw-2807 870 53 - - PUNCT taxlaw-2807 870 54 market market NOUN taxlaw-2807 870 55 taxation taxation NOUN taxlaw-2807 870 56 of of ADP taxlaw-2807 870 57 the the DET taxlaw-2807 870 58 asset asset NOUN taxlaw-2807 870 59 or or CCONJ taxlaw-2807 870 60 include include VERB taxlaw-2807 870 61 some some PRON taxlaw-2807 870 62 of of ADP taxlaw-2807 870 63 its its PRON taxlaw-2807 870 64 substitutes substitute NOUN taxlaw-2807 870 65 as as SCONJ taxlaw-2807 870 66 well.204 well.204 ADP taxlaw-2807 870 67 an an DET taxlaw-2807 870 68 example example NOUN taxlaw-2807 870 69 could could AUX taxlaw-2807 870 70 help help AUX taxlaw-2807 870 71 identify identify VERB taxlaw-2807 870 72 some some PRON taxlaw-2807 870 73 of of ADP taxlaw-2807 870 74 the the DET taxlaw-2807 870 75 main main ADJ taxlaw-2807 870 76 difficulties difficulty NOUN taxlaw-2807 870 77 of of ADP taxlaw-2807 870 78 drawing draw VERB taxlaw-2807 870 79 a a DET taxlaw-2807 870 80 distinction distinction NOUN taxlaw-2807 870 81 between between ADP taxlaw-2807 870 82 assets asset NOUN taxlaw-2807 870 83 in in ADP taxlaw-2807 870 84 a a DET taxlaw-2807 870 85 hybrid hybrid ADJ taxlaw-2807 870 86 income income NOUN taxlaw-2807 870 87 tax tax NOUN taxlaw-2807 870 88 regime regime NOUN taxlaw-2807 870 89 , , PUNCT taxlaw-2807 870 90 which which PRON taxlaw-2807 870 91 taxes tax VERB taxlaw-2807 870 92 all all DET taxlaw-2807 870 93 non non ADJ taxlaw-2807 870 94 - - ADJ taxlaw-2807 870 95 personal personal ADJ taxlaw-2807 870 96 assets asset NOUN taxlaw-2807 870 97 on on ADP taxlaw-2807 870 98 a a DET taxlaw-2807 870 99 mark mark NOUN taxlaw-2807 870 100 - - PUNCT taxlaw-2807 870 101 to to ADP taxlaw-2807 870 102 - - PUNCT taxlaw-2807 870 103 market market NOUN taxlaw-2807 870 104 basis basis NOUN taxlaw-2807 870 105 . . PUNCT taxlaw-2807 871 1 consider consider VERB taxlaw-2807 871 2 gill gill NOUN taxlaw-2807 871 3 bates bate NOUN taxlaw-2807 871 4 , , PUNCT taxlaw-2807 871 5 a a DET taxlaw-2807 871 6 young young ADJ taxlaw-2807 871 7 businesswoman businesswoman NOUN taxlaw-2807 871 8 who who PRON taxlaw-2807 871 9 created create VERB taxlaw-2807 871 10 a a DET taxlaw-2807 871 11 start start VERB taxlaw-2807 871 12 - - PUNCT taxlaw-2807 871 13 up up ADP taxlaw-2807 871 14 internet internet NOUN taxlaw-2807 871 15 company company NOUN taxlaw-2807 871 16 that that PRON taxlaw-2807 871 17 captured capture VERB taxlaw-2807 871 18 a a DET taxlaw-2807 871 19 significant significant ADJ taxlaw-2807 871 20 market market NOUN taxlaw-2807 871 21 share share NOUN taxlaw-2807 871 22 . . PUNCT taxlaw-2807 872 1 even even ADV taxlaw-2807 872 2 though though SCONJ taxlaw-2807 872 3 the the DET taxlaw-2807 872 4 company company NOUN taxlaw-2807 872 5 made make VERB taxlaw-2807 872 6 an an DET taxlaw-2807 872 7 initial initial ADJ taxlaw-2807 872 8 public public ADJ taxlaw-2807 872 9 offering offering NOUN taxlaw-2807 872 10 , , PUNCT taxlaw-2807 872 11 bates bate NOUN taxlaw-2807 872 12 continues continue VERB taxlaw-2807 872 13 to to PART taxlaw-2807 872 14 manage manage VERB taxlaw-2807 872 15 the the DET taxlaw-2807 872 16 company company NOUN taxlaw-2807 872 17 and and CCONJ taxlaw-2807 872 18 maintains maintain VERB taxlaw-2807 872 19 significant significant ADJ taxlaw-2807 872 20 holdings holding NOUN taxlaw-2807 872 21 in in ADP taxlaw-2807 872 22 its its PRON taxlaw-2807 872 23 stock stock NOUN taxlaw-2807 872 24 . . PUNCT taxlaw-2807 873 1 bates bate NOUN taxlaw-2807 873 2 could could AUX taxlaw-2807 873 3 argue argue VERB taxlaw-2807 873 4 that that SCONJ taxlaw-2807 873 5 even even ADV taxlaw-2807 873 6 though though SCONJ taxlaw-2807 873 7 the the DET taxlaw-2807 873 8 shares share NOUN taxlaw-2807 873 9 are be AUX taxlaw-2807 873 10 liquid liquid ADJ taxlaw-2807 873 11 and and CCONJ taxlaw-2807 873 12 easy easy ADJ taxlaw-2807 873 13 to to PART taxlaw-2807 873 14 value value VERB taxlaw-2807 873 15 , , PUNCT taxlaw-2807 873 16 their their PRON taxlaw-2807 873 17 ( ( PUNCT taxlaw-2807 873 18 substantial substantial ADJ taxlaw-2807 873 19 ) ) PUNCT taxlaw-2807 873 20 appreciation appreciation NOUN taxlaw-2807 873 21 should should AUX taxlaw-2807 873 22 only only ADV taxlaw-2807 873 23 be be AUX taxlaw-2807 873 24 taxed tax VERB taxlaw-2807 873 25 upon upon SCONJ taxlaw-2807 873 26 realization realization NOUN taxlaw-2807 873 27 . . PUNCT taxlaw-2807 874 1 for for ADP taxlaw-2807 874 2 years year NOUN taxlaw-2807 874 3 , , PUNCT taxlaw-2807 874 4 she she PRON taxlaw-2807 874 5 has have AUX taxlaw-2807 874 6 invested invest VERB taxlaw-2807 874 7 her her PRON taxlaw-2807 874 8 human human ADJ taxlaw-2807 874 9 capital capital NOUN taxlaw-2807 874 10 in in ADP taxlaw-2807 874 11 the the DET taxlaw-2807 874 12 corporation corporation NOUN taxlaw-2807 874 13 and and CCONJ taxlaw-2807 874 14 plans plan VERB taxlaw-2807 874 15 to to PART taxlaw-2807 874 16 continue continue VERB taxlaw-2807 874 17 doing do VERB taxlaw-2807 874 18 so so ADV taxlaw-2807 874 19 . . PUNCT taxlaw-2807 875 1 accordingly accordingly ADV taxlaw-2807 875 2 , , PUNCT taxlaw-2807 875 3 there there PRON taxlaw-2807 875 4 seems seem VERB taxlaw-2807 875 5 to to PART taxlaw-2807 875 6 be be AUX taxlaw-2807 875 7 a a DET taxlaw-2807 875 8 lot lot NOUN taxlaw-2807 875 9 of of ADP taxlaw-2807 875 10 truth truth NOUN taxlaw-2807 875 11 in in ADP taxlaw-2807 875 12 the the DET taxlaw-2807 875 13 claim claim NOUN taxlaw-2807 875 14 that that SCONJ taxlaw-2807 875 15 her her PRON taxlaw-2807 875 16 holding hold VERB taxlaw-2807 875 17 in in ADP taxlaw-2807 875 18 the the DET taxlaw-2807 875 19 corporation corporation NOUN taxlaw-2807 875 20 ’s ’s PART taxlaw-2807 875 21 stock stock NOUN taxlaw-2807 875 22 is be AUX taxlaw-2807 875 23 an an DET taxlaw-2807 875 24 emotionally emotionally ADV taxlaw-2807 875 25 non non ADJ taxlaw-2807 875 26 - - ADJ taxlaw-2807 875 27 fungible fungible ADJ taxlaw-2807 875 28 asset asset NOUN taxlaw-2807 875 29 . . PUNCT taxlaw-2807 876 1 allowing allow VERB taxlaw-2807 876 2 bates bate NOUN taxlaw-2807 876 3 ’s ’s PART taxlaw-2807 876 4 holdings holding NOUN taxlaw-2807 876 5 to to PART taxlaw-2807 876 6 be be AUX taxlaw-2807 876 7 taxed tax VERB taxlaw-2807 876 8 only only ADV taxlaw-2807 876 9 upon upon SCONJ taxlaw-2807 876 10 realization realization NOUN taxlaw-2807 876 11 would would AUX taxlaw-2807 876 12 , , PUNCT taxlaw-2807 876 13 nevertheless nevertheless ADV taxlaw-2807 876 14 , , PUNCT taxlaw-2807 876 15 be be AUX taxlaw-2807 876 16 problematic problematic ADJ taxlaw-2807 876 17 from from ADP taxlaw-2807 876 18 a a DET taxlaw-2807 876 19 number number NOUN taxlaw-2807 876 20 of of ADP taxlaw-2807 876 21 perspectives perspective NOUN taxlaw-2807 876 22 . . PUNCT taxlaw-2807 877 1 first first ADV taxlaw-2807 877 2 , , PUNCT taxlaw-2807 877 3 taxing tax VERB taxlaw-2807 877 4 her her PRON taxlaw-2807 877 5 holdings holding NOUN taxlaw-2807 877 6 in in ADP taxlaw-2807 877 7 the the DET taxlaw-2807 877 8 corporation corporation NOUN taxlaw-2807 877 9 only only ADV taxlaw-2807 877 10 upon upon SCONJ taxlaw-2807 877 11 realization realization NOUN taxlaw-2807 877 12 would would AUX taxlaw-2807 877 13 have have VERB taxlaw-2807 877 14 significant significant ADJ taxlaw-2807 877 15 costs cost NOUN taxlaw-2807 877 16 in in ADP taxlaw-2807 877 17 terms term NOUN taxlaw-2807 877 18 of of ADP taxlaw-2807 877 19 revenue revenue NOUN taxlaw-2807 877 20 and and CCONJ taxlaw-2807 877 21 progressivity.205 progressivity.205 PROPN taxlaw-2807 877 22 second second ADJ taxlaw-2807 877 23 , , PUNCT taxlaw-2807 877 24 if if SCONJ taxlaw-2807 877 25 her her PRON taxlaw-2807 877 26 holdings holding NOUN taxlaw-2807 877 27 were be AUX taxlaw-2807 877 28 not not PART taxlaw-2807 877 29 taxed tax VERB taxlaw-2807 877 30 on on ADP taxlaw-2807 877 31 a a DET taxlaw-2807 877 32 mark mark NOUN taxlaw-2807 877 33 - - PUNCT taxlaw-2807 877 34 to to ADP taxlaw-2807 877 35 - - PUNCT taxlaw-2807 877 36 market market NOUN taxlaw-2807 877 37 basis basis NOUN taxlaw-2807 877 38 , , PUNCT taxlaw-2807 877 39 she she PRON taxlaw-2807 877 40 would would AUX taxlaw-2807 877 41 have have VERB taxlaw-2807 877 42 incentives incentive NOUN taxlaw-2807 877 43 to to PART taxlaw-2807 877 44 try try VERB taxlaw-2807 877 45 and and CCONJ taxlaw-2807 877 46 manipulate manipulate VERB taxlaw-2807 877 47 her her PRON taxlaw-2807 877 48 tax tax NOUN taxlaw-2807 877 49 liabilities liability NOUN taxlaw-2807 877 50 . . PUNCT taxlaw-2807 878 1 for for ADP taxlaw-2807 878 2 example example NOUN taxlaw-2807 878 3 , , PUNCT taxlaw-2807 878 4 she she PRON taxlaw-2807 878 5 could could AUX taxlaw-2807 878 6 overinvest overinvest VERB taxlaw-2807 878 7 in in ADP taxlaw-2807 878 8 the the DET taxlaw-2807 878 9 assets asset NOUN taxlaw-2807 878 10 that that PRON taxlaw-2807 878 11 could could AUX taxlaw-2807 878 12 be be AUX taxlaw-2807 878 13 labeled label VERB taxlaw-2807 878 14 as as ADP taxlaw-2807 878 15 emotionally emotionally ADV taxlaw-2807 878 16 non non ADJ taxlaw-2807 878 17 - - ADJ taxlaw-2807 878 18 fungible fungible ADJ taxlaw-2807 878 19 and and CCONJ taxlaw-2807 878 20 defer defer VERB taxlaw-2807 878 21 the the DET taxlaw-2807 878 22 tax tax NOUN taxlaw-2807 878 23 payment payment NOUN taxlaw-2807 878 24 on on ADP taxlaw-2807 878 25 their their PRON taxlaw-2807 878 26 appreciation appreciation NOUN taxlaw-2807 878 27 . . PUNCT taxlaw-2807 879 1 she she PRON taxlaw-2807 879 2 could could AUX taxlaw-2807 879 3 use use VERB taxlaw-2807 879 4 the the DET taxlaw-2807 879 5 corporation corporation NOUN taxlaw-2807 879 6 to to PART taxlaw-2807 879 7 attain attain VERB taxlaw-2807 879 8 risk risk NOUN taxlaw-2807 879 9 diversification diversification NOUN taxlaw-2807 879 10 by by ADP taxlaw-2807 879 11 retaining retain VERB taxlaw-2807 879 12 the the DET taxlaw-2807 879 13 corporation corporation NOUN taxlaw-2807 879 14 ’s ’s PART taxlaw-2807 879 15 earnings earning NOUN taxlaw-2807 879 16 and and CCONJ taxlaw-2807 879 17 using use VERB taxlaw-2807 879 18 them they PRON taxlaw-2807 879 19 to to PART taxlaw-2807 879 20 buy buy VERB taxlaw-2807 879 21 a a DET taxlaw-2807 879 22 diversified diversified ADJ taxlaw-2807 879 23 portfolio portfolio NOUN taxlaw-2807 879 24 so so SCONJ taxlaw-2807 879 25 that that SCONJ taxlaw-2807 879 26 her her PRON taxlaw-2807 879 27 holdings holding NOUN taxlaw-2807 879 28 in in ADP taxlaw-2807 879 29 the the DET taxlaw-2807 879 30 corporation corporation NOUN taxlaw-2807 879 31 partially partially ADV taxlaw-2807 879 32 reflected reflect VERB taxlaw-2807 879 33 the the DET taxlaw-2807 879 34 value value NOUN taxlaw-2807 879 35 of of ADP taxlaw-2807 879 36 this this DET taxlaw-2807 879 37 portfolio.206 portfolio.206 NOUN taxlaw-2807 879 38 this this PRON taxlaw-2807 879 39 , , PUNCT taxlaw-2807 879 40 as as SCONJ taxlaw-2807 879 41 mentioned mention VERB taxlaw-2807 879 42 , , PUNCT taxlaw-2807 879 43 would would AUX taxlaw-2807 879 44 result result VERB taxlaw-2807 879 45 in in ADP taxlaw-2807 879 46 misallocation misallocation NOUN taxlaw-2807 879 47 of of ADP taxlaw-2807 879 48 resources resource NOUN taxlaw-2807 879 49 , , PUNCT taxlaw-2807 879 50 less less ADJ taxlaw-2807 879 51 risk risk NOUN taxlaw-2807 879 52 diversification diversification NOUN taxlaw-2807 879 53 , , PUNCT taxlaw-2807 879 54 more more ADV taxlaw-2807 879 55 administrative administrative ADJ taxlaw-2807 879 56 and and CCONJ taxlaw-2807 879 57 compliance compliance NOUN taxlaw-2807 879 58 costs cost NOUN taxlaw-2807 879 59 , , PUNCT taxlaw-2807 879 60 and and CCONJ taxlaw-2807 879 61 all all DET taxlaw-2807 879 62 the the DET taxlaw-2807 879 63 flaws flaw NOUN taxlaw-2807 879 64 of of ADP taxlaw-2807 879 65 the the DET taxlaw-2807 879 66 current current ADJ taxlaw-2807 879 67 realization realization NOUN taxlaw-2807 879 68 regime regime NOUN taxlaw-2807 879 69 . . PUNCT taxlaw-2807 880 1 it it PRON taxlaw-2807 880 2 is be AUX taxlaw-2807 880 3 important important ADJ taxlaw-2807 880 4 to to PART taxlaw-2807 880 5 note note VERB taxlaw-2807 880 6 that that SCONJ taxlaw-2807 880 7 this this DET taxlaw-2807 880 8 example example NOUN taxlaw-2807 880 9 is be AUX taxlaw-2807 880 10 not not PART taxlaw-2807 880 11 an an DET taxlaw-2807 880 12 indication indication NOUN taxlaw-2807 880 13 that that SCONJ taxlaw-2807 880 14 a a DET taxlaw-2807 880 15 hybrid hybrid ADJ taxlaw-2807 880 16 tax tax NOUN taxlaw-2807 880 17 regime regime NOUN taxlaw-2807 880 18 is be AUX taxlaw-2807 880 19 impossible impossible ADJ taxlaw-2807 880 20 to to PART taxlaw-2807 880 21 implement implement VERB taxlaw-2807 880 22 but but CCONJ taxlaw-2807 880 23 rather rather ADV taxlaw-2807 880 24 a a DET taxlaw-2807 880 25 demonstration demonstration NOUN taxlaw-2807 880 26 of of ADP taxlaw-2807 880 27 the the DET taxlaw-2807 880 28 fact fact NOUN taxlaw-2807 880 29 that that SCONJ taxlaw-2807 880 30 pushing push VERB taxlaw-2807 880 31 a a DET taxlaw-2807 880 32 single single ADJ taxlaw-2807 880 33 principle principle NOUN taxlaw-2807 880 34 to to ADP taxlaw-2807 880 35 an an DET taxlaw-2807 880 36 extreme extreme NOUN taxlaw-2807 880 37 can can AUX taxlaw-2807 880 38 present present VERB taxlaw-2807 880 39 complex complex ADJ taxlaw-2807 880 40 questions question NOUN taxlaw-2807 880 41 that that PRON taxlaw-2807 880 42 may may AUX taxlaw-2807 880 43 not not PART taxlaw-2807 880 44 apply apply VERB taxlaw-2807 880 45 across across ADP taxlaw-2807 880 46 the the DET taxlaw-2807 880 47 board board NOUN taxlaw-2807 880 48 . . PUNCT taxlaw-2807 881 1 admittedly admittedly ADV taxlaw-2807 881 2 , , PUNCT taxlaw-2807 881 3 our our PRON taxlaw-2807 881 4 analysis analysis NOUN taxlaw-2807 881 5 suggests suggest VERB taxlaw-2807 881 6 that that SCONJ taxlaw-2807 881 7 emotionally emotionally ADV taxlaw-2807 881 8 non non ADJ taxlaw-2807 881 9 - - ADJ taxlaw-2807 881 10 fungible fungible ADJ taxlaw-2807 881 11 assets asset NOUN taxlaw-2807 881 12 should should AUX taxlaw-2807 881 13 be be AUX taxlaw-2807 881 14 taxed tax VERB taxlaw-2807 881 15 only only ADV taxlaw-2807 881 16 upon upon SCONJ taxlaw-2807 881 17 realization realization NOUN taxlaw-2807 881 18 in in ADP taxlaw-2807 881 19 order order NOUN taxlaw-2807 881 20 to to PART taxlaw-2807 881 21 prevent prevent VERB taxlaw-2807 881 22 errors error NOUN taxlaw-2807 881 23 related relate VERB taxlaw-2807 881 24 to to ADP taxlaw-2807 881 25 subjective subjective ADJ taxlaw-2807 881 26 valuation valuation NOUN taxlaw-2807 881 27 . . PUNCT taxlaw-2807 882 1 the the DET taxlaw-2807 882 2 analysis analysis NOUN taxlaw-2807 882 3 does do AUX taxlaw-2807 882 4 not not PART taxlaw-2807 882 5 in in ADP taxlaw-2807 882 6 any any DET taxlaw-2807 882 7 way way NOUN taxlaw-2807 882 8 suggest suggest VERB taxlaw-2807 882 9 that that SCONJ taxlaw-2807 882 10 preventing prevent VERB taxlaw-2807 882 11 this this DET taxlaw-2807 882 12 type type NOUN taxlaw-2807 882 13 of of ADP taxlaw-2807 882 14 error error NOUN taxlaw-2807 882 15 is be AUX taxlaw-2807 882 16 the the DET taxlaw-2807 882 17 only only ADJ taxlaw-2807 882 18 objective objective NOUN taxlaw-2807 882 19 of of ADP taxlaw-2807 882 20 the the DET taxlaw-2807 882 21 tax tax NOUN taxlaw-2807 882 22 system system NOUN taxlaw-2807 882 23 . . PUNCT taxlaw-2807 883 1 revenue revenue NOUN taxlaw-2807 883 2 , , PUNCT taxlaw-2807 883 3 distributive distributive ADJ taxlaw-2807 883 4 , , PUNCT taxlaw-2807 883 5 and and CCONJ taxlaw-2807 883 6 tax tax NOUN taxlaw-2807 883 7 enforcement enforcement NOUN taxlaw-2807 883 8 objectives objective NOUN taxlaw-2807 883 9 may may AUX taxlaw-2807 883 10 require require VERB taxlaw-2807 883 11 that that SCONJ taxlaw-2807 883 12 this this DET taxlaw-2807 883 13 goal goal NOUN taxlaw-2807 883 14 be be AUX taxlaw-2807 883 15 balanced balance VERB taxlaw-2807 883 16 against against ADP taxlaw-2807 883 17 other other ADJ taxlaw-2807 883 18 values value NOUN taxlaw-2807 883 19 . . PUNCT taxlaw-2807 884 1 in in ADP taxlaw-2807 884 2 the the DET taxlaw-2807 884 3 case case NOUN taxlaw-2807 884 4 of of ADP taxlaw-2807 884 5 bates bate NOUN taxlaw-2807 884 6 , , PUNCT taxlaw-2807 884 7 these these DET taxlaw-2807 884 8 considerations consideration NOUN taxlaw-2807 884 9 may may AUX taxlaw-2807 884 10 require require VERB taxlaw-2807 884 11 that that SCONJ taxlaw-2807 884 12 her her PRON taxlaw-2807 884 13 ability ability NOUN taxlaw-2807 884 14 to to PART taxlaw-2807 884 15 claim claim VERB taxlaw-2807 884 16 realization realization NOUN taxlaw-2807 884 17 treatment treatment NOUN taxlaw-2807 884 18 for for ADP taxlaw-2807 884 19 emotionally emotionally ADV taxlaw-2807 884 20 non non ADJ taxlaw-2807 884 21 - - ADJ taxlaw-2807 884 22 fungible fungible ADJ taxlaw-2807 884 23 assets asset NOUN taxlaw-2807 884 24 be be AUX taxlaw-2807 884 25 capped cap VERB taxlaw-2807 884 26 at at ADP taxlaw-2807 884 27 a a DET taxlaw-2807 884 28 certain certain ADJ taxlaw-2807 884 29 dollar dollar NOUN taxlaw-2807 884 30 amount amount NOUN taxlaw-2807 884 31 . . PUNCT taxlaw-2807 885 1 this this DET taxlaw-2807 885 2 capping capping NOUN taxlaw-2807 885 3 , , PUNCT taxlaw-2807 885 4 however however ADV taxlaw-2807 885 5 , , PUNCT taxlaw-2807 885 6 would would AUX taxlaw-2807 885 7 still still ADV taxlaw-2807 885 8 recognize recognize VERB taxlaw-2807 885 9 the the DET taxlaw-2807 885 10 basic basic ADJ taxlaw-2807 885 11 point point NOUN taxlaw-2807 885 12 advanced advance VERB taxlaw-2807 885 13 by by ADP taxlaw-2807 885 14 this this DET taxlaw-2807 885 15 analysis analysis NOUN taxlaw-2807 885 16 : : PUNCT taxlaw-2807 885 17 realization realization NOUN taxlaw-2807 885 18 is be AUX taxlaw-2807 885 19 a a DET taxlaw-2807 885 20 normative normative ADJ taxlaw-2807 885 21 component component NOUN taxlaw-2807 885 22 of of ADP taxlaw-2807 885 23 how how SCONJ taxlaw-2807 885 24 a a DET taxlaw-2807 885 25 liberal liberal ADJ taxlaw-2807 885 26 society society NOUN taxlaw-2807 885 27 values value VERB taxlaw-2807 885 28 individual individual ADJ taxlaw-2807 885 29 well well ADV taxlaw-2807 885 30 - - PUNCT taxlaw-2807 885 31 being being NOUN taxlaw-2807 885 32 and and CCONJ taxlaw-2807 885 33 promotes promote VERB taxlaw-2807 885 34 redistribution redistribution NOUN taxlaw-2807 885 35 . . PUNCT taxlaw-2807 886 1 203 203 NUM taxlaw-2807 886 2 see see VERB taxlaw-2807 886 3 schenk schenk PROPN taxlaw-2807 886 4 , , PUNCT taxlaw-2807 886 5 supra supra PROPN taxlaw-2807 886 6 note note VERB taxlaw-2807 886 7 200 200 NUM taxlaw-2807 886 8 , , PUNCT taxlaw-2807 886 9 at at ADP taxlaw-2807 886 10 527–28 527–28 NUM taxlaw-2807 886 11 . . PUNCT taxlaw-2807 887 1 204 204 NUM taxlaw-2807 887 2 see see VERB taxlaw-2807 887 3 gergen gergen ADV taxlaw-2807 887 4 , , PUNCT taxlaw-2807 887 5 supra supra PROPN taxlaw-2807 887 6 note note NOUN taxlaw-2807 887 7 199 199 NUM taxlaw-2807 887 8 , , PUNCT taxlaw-2807 887 9 at at ADP taxlaw-2807 887 10 211 211 NUM taxlaw-2807 887 11 ( ( PUNCT taxlaw-2807 887 12 suggesting suggest VERB taxlaw-2807 887 13 that that SCONJ taxlaw-2807 887 14 putting put VERB taxlaw-2807 887 15 only only ADV taxlaw-2807 887 16 publicly publicly ADV taxlaw-2807 887 17 traded trade VERB taxlaw-2807 887 18 assets asset NOUN taxlaw-2807 887 19 in in ADP taxlaw-2807 887 20 the the DET taxlaw-2807 887 21 mark mark NOUN taxlaw-2807 887 22 - - PUNCT taxlaw-2807 887 23 to to ADP taxlaw-2807 887 24 - - PUNCT taxlaw-2807 887 25 market market NOUN taxlaw-2807 887 26 regime regime NOUN taxlaw-2807 887 27 would would AUX taxlaw-2807 887 28 make make VERB taxlaw-2807 887 29 it it PRON taxlaw-2807 887 30 administrable administrable ADJ taxlaw-2807 887 31 but but CCONJ taxlaw-2807 887 32 would would AUX taxlaw-2807 887 33 nevertheless nevertheless ADV taxlaw-2807 887 34 have have VERB taxlaw-2807 887 35 troubling troubling ADJ taxlaw-2807 887 36 consequences consequence NOUN taxlaw-2807 887 37 because because SCONJ taxlaw-2807 887 38 it it PRON taxlaw-2807 887 39 would would AUX taxlaw-2807 887 40 create create VERB taxlaw-2807 887 41 a a DET taxlaw-2807 887 42 bias bias NOUN taxlaw-2807 887 43 for for ADP taxlaw-2807 887 44 non non ADJ taxlaw-2807 887 45 - - ADJ taxlaw-2807 887 46 publicly publicly ADV taxlaw-2807 887 47 traded trade VERB taxlaw-2807 887 48 assets asset NOUN taxlaw-2807 887 49 ) ) PUNCT taxlaw-2807 887 50 . . PUNCT taxlaw-2807 888 1 205 205 NUM taxlaw-2807 889 1 this this DET taxlaw-2807 889 2 concern concern NOUN taxlaw-2807 889 3 is be AUX taxlaw-2807 889 4 substantial substantial ADJ taxlaw-2807 889 5 given give VERB taxlaw-2807 889 6 that that SCONJ taxlaw-2807 889 7 much much ADJ taxlaw-2807 889 8 of of ADP taxlaw-2807 889 9 the the DET taxlaw-2807 889 10 wealth wealth NOUN taxlaw-2807 889 11 of of ADP taxlaw-2807 889 12 high high ADJ taxlaw-2807 889 13 net net ADJ taxlaw-2807 889 14 worth worth ADJ taxlaw-2807 889 15 taxpayers taxpayer NOUN taxlaw-2807 889 16 is be AUX taxlaw-2807 889 17 in in ADP taxlaw-2807 889 18 the the DET taxlaw-2807 889 19 form form NOUN taxlaw-2807 889 20 of of ADP taxlaw-2807 889 21 closely closely ADV taxlaw-2807 889 22 held hold VERB taxlaw-2807 889 23 business business NOUN taxlaw-2807 889 24 equity equity NOUN taxlaw-2807 889 25 . . PUNCT taxlaw-2807 890 1 see see VERB taxlaw-2807 890 2 kennickel kennickel PROPN taxlaw-2807 890 3 , , PUNCT taxlaw-2807 890 4 supra supra PROPN taxlaw-2807 890 5 note note PROPN taxlaw-2807 890 6 114 114 NUM taxlaw-2807 890 7 , , PUNCT taxlaw-2807 890 8 at at ADP taxlaw-2807 890 9 53–55 53–55 NUM taxlaw-2807 890 10 . . PUNCT taxlaw-2807 891 1 see see VERB taxlaw-2807 891 2 also also ADV taxlaw-2807 891 3 infra infra VERB taxlaw-2807 891 4 appendix appendix NOUN taxlaw-2807 891 5 . . PUNCT taxlaw-2807 891 6 206 206 NUM taxlaw-2807 891 7 in in ADP taxlaw-2807 891 8 this this DET taxlaw-2807 891 9 case case NOUN taxlaw-2807 891 10 , , PUNCT taxlaw-2807 891 11 holding hold VERB taxlaw-2807 891 12 a a DET taxlaw-2807 891 13 share share NOUN taxlaw-2807 891 14 in in ADP taxlaw-2807 891 15 a a DET taxlaw-2807 891 16 corporation corporation NOUN taxlaw-2807 891 17 is be AUX taxlaw-2807 891 18 a a DET taxlaw-2807 891 19 close close ADJ taxlaw-2807 891 20 substitute substitute NOUN taxlaw-2807 891 21 to to ADP taxlaw-2807 891 22 holding hold VERB taxlaw-2807 891 23 a a DET taxlaw-2807 891 24 diversified diversified ADJ taxlaw-2807 891 25 portfolio portfolio NOUN taxlaw-2807 891 26 . . PUNCT taxlaw-2807 892 1 2011 2011 NUM taxlaw-2807 892 2 ] ] PUNCT taxlaw-2807 892 3 realization realization NOUN taxlaw-2807 892 4 and and CCONJ taxlaw-2807 892 5 progressivity progressivity NOUN taxlaw-2807 892 6 83 83 NUM taxlaw-2807 892 7 as as SCONJ taxlaw-2807 892 8 one one NUM taxlaw-2807 892 9 commentator commentator NOUN taxlaw-2807 892 10 has have AUX taxlaw-2807 892 11 noted note VERB taxlaw-2807 892 12 , , PUNCT taxlaw-2807 892 13 the the DET taxlaw-2807 892 14 weaknesses weakness NOUN taxlaw-2807 892 15 of of ADP taxlaw-2807 892 16 both both CCONJ taxlaw-2807 892 17 pure pure ADJ taxlaw-2807 892 18 realization realization NOUN taxlaw-2807 892 19 and and CCONJ taxlaw-2807 892 20 pure pure ADJ taxlaw-2807 892 21 mark mark NOUN taxlaw-2807 892 22 - - PUNCT taxlaw-2807 892 23 to to ADP taxlaw-2807 892 24 - - PUNCT taxlaw-2807 892 25 market market NOUN taxlaw-2807 892 26 regimes regime NOUN taxlaw-2807 892 27 leave leave VERB taxlaw-2807 892 28 policymakers policymaker NOUN taxlaw-2807 892 29 with with ADP taxlaw-2807 892 30 no no DET taxlaw-2807 892 31 option option NOUN taxlaw-2807 892 32 but but SCONJ taxlaw-2807 892 33 to to PART taxlaw-2807 892 34 balance balance VERB taxlaw-2807 892 35 between between ADP taxlaw-2807 892 36 them.207 them.207 NOUN taxlaw-2807 892 37 a a DET taxlaw-2807 892 38 hybrid hybrid ADJ taxlaw-2807 892 39 regime regime NOUN taxlaw-2807 892 40 requires require VERB taxlaw-2807 892 41 line line NOUN taxlaw-2807 892 42 drawing draw VERB taxlaw-2807 892 43 between between ADP taxlaw-2807 892 44 similar similar ADJ taxlaw-2807 892 45 assets asset NOUN taxlaw-2807 892 46 — — PUNCT taxlaw-2807 892 47 a a DET taxlaw-2807 892 48 practice practice NOUN taxlaw-2807 892 49 that that PRON taxlaw-2807 892 50 is be AUX taxlaw-2807 892 51 always always ADV taxlaw-2807 892 52 difficult difficult ADJ taxlaw-2807 892 53 and and CCONJ taxlaw-2807 892 54 somewhat somewhat ADV taxlaw-2807 892 55 arbitrary.208 arbitrary.208 VERB taxlaw-2807 892 56 wherever wherever SCONJ taxlaw-2807 892 57 the the DET taxlaw-2807 892 58 line line NOUN taxlaw-2807 892 59 is be AUX taxlaw-2807 892 60 drawn draw VERB taxlaw-2807 892 61 , , PUNCT taxlaw-2807 892 62 assets asset NOUN taxlaw-2807 892 63 on on ADP taxlaw-2807 892 64 each each DET taxlaw-2807 892 65 side side NOUN taxlaw-2807 892 66 will will AUX taxlaw-2807 892 67 be be AUX taxlaw-2807 892 68 assigned assign VERB taxlaw-2807 892 69 different different ADJ taxlaw-2807 892 70 tax tax NOUN taxlaw-2807 892 71 treatment treatment NOUN taxlaw-2807 892 72 in in ADP taxlaw-2807 892 73 spite spite NOUN taxlaw-2807 892 74 of of ADP taxlaw-2807 892 75 their their PRON taxlaw-2807 892 76 strong strong ADJ taxlaw-2807 892 77 similarities.209 similarities.209 NOUN taxlaw-2807 892 78 nevertheless nevertheless ADV taxlaw-2807 892 79 , , PUNCT taxlaw-2807 892 80 a a DET taxlaw-2807 892 81 frictionless frictionless ADJ taxlaw-2807 892 82 tax tax NOUN taxlaw-2807 892 83 regime regime NOUN taxlaw-2807 892 84 is be AUX taxlaw-2807 892 85 not not PART taxlaw-2807 892 86 a a DET taxlaw-2807 892 87 possibility possibility NOUN taxlaw-2807 892 88 , , PUNCT taxlaw-2807 892 89 so so SCONJ taxlaw-2807 892 90 line line NOUN taxlaw-2807 892 91 drawing drawing NOUN taxlaw-2807 892 92 will will AUX taxlaw-2807 892 93 always always ADV taxlaw-2807 892 94 be be AUX taxlaw-2807 892 95 a a DET taxlaw-2807 892 96 significant significant ADJ taxlaw-2807 892 97 component component NOUN taxlaw-2807 892 98 of of ADP taxlaw-2807 892 99 tax tax NOUN taxlaw-2807 892 100 policy policy NOUN taxlaw-2807 892 101 debates.210 debates.210 NOUN taxlaw-2807 892 102 accordingly accordingly ADV taxlaw-2807 892 103 , , PUNCT taxlaw-2807 892 104 any any DET taxlaw-2807 892 105 future future ADJ taxlaw-2807 892 106 research research NOUN taxlaw-2807 892 107 exploring explore VERB taxlaw-2807 892 108 the the DET taxlaw-2807 892 109 nature nature NOUN taxlaw-2807 892 110 of of ADP taxlaw-2807 892 111 a a DET taxlaw-2807 892 112 hybrid hybrid ADJ taxlaw-2807 892 113 mark mark NOUN taxlaw-2807 892 114 - - PUNCT taxlaw-2807 892 115 to to ADP taxlaw-2807 892 116 - - PUNCT taxlaw-2807 892 117 market market NOUN taxlaw-2807 892 118 regime regime NOUN taxlaw-2807 892 119 will will AUX taxlaw-2807 892 120 have have VERB taxlaw-2807 892 121 to to PART taxlaw-2807 892 122 evaluate evaluate VERB taxlaw-2807 892 123 whether whether SCONJ taxlaw-2807 892 124 the the DET taxlaw-2807 892 125 line line NOUN taxlaw-2807 892 126 drawing draw VERB taxlaw-2807 892 127 associated associate VERB taxlaw-2807 892 128 with with ADP taxlaw-2807 892 129 the the DET taxlaw-2807 892 130 research research NOUN taxlaw-2807 892 131 is be AUX taxlaw-2807 892 132 comparatively comparatively ADV taxlaw-2807 892 133 easier easy ADJ taxlaw-2807 892 134 or or CCONJ taxlaw-2807 892 135 less less ADV taxlaw-2807 892 136 distorting distorting ADJ taxlaw-2807 892 137 than than ADP taxlaw-2807 892 138 those those PRON taxlaw-2807 892 139 associated associate VERB taxlaw-2807 892 140 with with ADP taxlaw-2807 892 141 the the DET taxlaw-2807 892 142 one one NOUN taxlaw-2807 892 143 it it PRON taxlaw-2807 892 144 seeks seek VERB taxlaw-2807 892 145 to to PART taxlaw-2807 892 146 replace replace VERB taxlaw-2807 892 147 . . PUNCT taxlaw-2807 893 1 we we PRON taxlaw-2807 893 2 wish wish VERB taxlaw-2807 893 3 to to PART taxlaw-2807 893 4 end end VERB taxlaw-2807 893 5 by by ADP taxlaw-2807 893 6 noting note VERB taxlaw-2807 893 7 a a DET taxlaw-2807 893 8 set set NOUN taxlaw-2807 893 9 of of ADP taxlaw-2807 893 10 broader broad ADJ taxlaw-2807 893 11 policy policy NOUN taxlaw-2807 893 12 issues issue NOUN taxlaw-2807 893 13 to to PART taxlaw-2807 893 14 which which PRON taxlaw-2807 893 15 this this DET taxlaw-2807 893 16 article article NOUN taxlaw-2807 893 17 ’s ’s PART taxlaw-2807 893 18 argument argument NOUN taxlaw-2807 893 19 relates relate VERB taxlaw-2807 893 20 . . PUNCT taxlaw-2807 894 1 first first ADV taxlaw-2807 894 2 , , PUNCT taxlaw-2807 894 3 with with ADP taxlaw-2807 894 4 respect respect NOUN taxlaw-2807 894 5 to to ADP taxlaw-2807 894 6 the the DET taxlaw-2807 894 7 income income NOUN taxlaw-2807 894 8 - - PUNCT taxlaw-2807 894 9 tax tax NOUN taxlaw-2807 894 10 - - PUNCT taxlaw-2807 894 11 versus versus ADP taxlaw-2807 894 12 - - PUNCT taxlaw-2807 894 13 consumption consumption NOUN taxlaw-2807 894 14 - - PUNCT taxlaw-2807 894 15 tax tax NOUN taxlaw-2807 894 16 debate debate NOUN taxlaw-2807 894 17 , , PUNCT taxlaw-2807 894 18 if if SCONJ taxlaw-2807 894 19 an an DET taxlaw-2807 894 20 effective effective ADJ taxlaw-2807 894 21 hybrid hybrid ADJ taxlaw-2807 894 22 income income NOUN taxlaw-2807 894 23 tax tax NOUN taxlaw-2807 894 24 regime regime NOUN taxlaw-2807 894 25 could could AUX taxlaw-2807 894 26 be be AUX taxlaw-2807 894 27 developed develop VERB taxlaw-2807 894 28 along along ADP taxlaw-2807 894 29 the the DET taxlaw-2807 894 30 lines line NOUN taxlaw-2807 894 31 suggested suggest VERB taxlaw-2807 894 32 by by ADP taxlaw-2807 894 33 this this DET taxlaw-2807 894 34 article article NOUN taxlaw-2807 894 35 , , PUNCT taxlaw-2807 894 36 then then ADV taxlaw-2807 894 37 recent recent ADJ taxlaw-2807 894 38 calls call NOUN taxlaw-2807 894 39 of of ADP taxlaw-2807 894 40 some some DET taxlaw-2807 894 41 leading lead VERB taxlaw-2807 894 42 tax tax NOUN taxlaw-2807 894 43 scholars scholar NOUN taxlaw-2807 894 44 to to PART taxlaw-2807 894 45 abandon abandon VERB taxlaw-2807 894 46 the the DET taxlaw-2807 894 47 income income NOUN taxlaw-2807 894 48 tax tax NOUN taxlaw-2807 894 49 are be AUX taxlaw-2807 894 50 premature premature ADJ taxlaw-2807 894 51 and and CCONJ taxlaw-2807 894 52 misleading.211 misleading.211 NOUN taxlaw-2807 894 53 although although SCONJ taxlaw-2807 894 54 the the DET taxlaw-2807 894 55 realization realization NOUN taxlaw-2807 894 56 requirement requirement NOUN taxlaw-2807 894 57 is be AUX taxlaw-2807 894 58 indeed indeed ADV taxlaw-2807 894 59 inherent inherent ADJ taxlaw-2807 894 60 to to PART taxlaw-2807 894 61 income income VERB taxlaw-2807 894 62 taxation taxation NOUN taxlaw-2807 894 63 , , PUNCT taxlaw-2807 894 64 limiting limit VERB taxlaw-2807 894 65 its its PRON taxlaw-2807 894 66 role role NOUN taxlaw-2807 894 67 to to ADP taxlaw-2807 894 68 personal personal ADJ taxlaw-2807 894 69 assets asset NOUN taxlaw-2807 894 70 can can AUX taxlaw-2807 894 71 reduce reduce VERB taxlaw-2807 894 72 many many ADJ taxlaw-2807 894 73 of of ADP taxlaw-2807 894 74 the the DET taxlaw-2807 894 75 problems problem NOUN taxlaw-2807 894 76 of of ADP taxlaw-2807 894 77 the the DET taxlaw-2807 894 78 income income NOUN taxlaw-2807 894 79 tax tax NOUN taxlaw-2807 894 80 and and CCONJ taxlaw-2807 894 81 sustain sustain VERB taxlaw-2807 894 82 it it PRON taxlaw-2807 894 83 as as ADP taxlaw-2807 894 84 a a DET taxlaw-2807 894 85 much much ADV taxlaw-2807 894 86 more more ADV taxlaw-2807 894 87 progressive progressive ADJ taxlaw-2807 894 88 and and CCONJ taxlaw-2807 894 89 effective effective ADJ taxlaw-2807 894 90 fiscal fiscal ADJ taxlaw-2807 894 91 instrument instrument NOUN taxlaw-2807 894 92 . . PUNCT taxlaw-2807 895 1 second second ADJ taxlaw-2807 895 2 , , PUNCT taxlaw-2807 895 3 a a DET taxlaw-2807 895 4 shift shift NOUN taxlaw-2807 895 5 to to ADP taxlaw-2807 895 6 a a DET taxlaw-2807 895 7 more more ADV taxlaw-2807 895 8 hybrid hybrid ADJ taxlaw-2807 895 9 mark mark NOUN taxlaw-2807 895 10 - - PUNCT taxlaw-2807 895 11 to to ADP taxlaw-2807 895 12 - - PUNCT taxlaw-2807 895 13 market market NOUN taxlaw-2807 895 14 tax tax NOUN taxlaw-2807 895 15 regime regime NOUN taxlaw-2807 895 16 highlights highlight VERB taxlaw-2807 895 17 other other ADJ taxlaw-2807 895 18 vexing vex VERB taxlaw-2807 895 19 tax tax NOUN taxlaw-2807 895 20 policy policy NOUN taxlaw-2807 895 21 questions question NOUN taxlaw-2807 895 22 , , PUNCT taxlaw-2807 895 23 particularly particularly ADV taxlaw-2807 895 24 with with ADP taxlaw-2807 895 25 respect respect NOUN taxlaw-2807 895 26 to to ADP taxlaw-2807 895 27 the the DET taxlaw-2807 895 28 budgeting budgeting NOUN taxlaw-2807 895 29 process process NOUN taxlaw-2807 895 30 . . PUNCT taxlaw-2807 896 1 a a DET taxlaw-2807 896 2 markto markto NOUN taxlaw-2807 896 3 - - PUNCT taxlaw-2807 896 4 market market NOUN taxlaw-2807 896 5 tax tax NOUN taxlaw-2807 896 6 regime regime NOUN taxlaw-2807 896 7 would would AUX taxlaw-2807 896 8 have have VERB taxlaw-2807 896 9 to to PART taxlaw-2807 896 10 take take VERB taxlaw-2807 896 11 account account NOUN taxlaw-2807 896 12 of of ADP taxlaw-2807 896 13 more more ADJ taxlaw-2807 896 14 gains gain NOUN taxlaw-2807 896 15 during during ADP taxlaw-2807 896 16 economic economic ADJ taxlaw-2807 896 17 booms boom NOUN taxlaw-2807 896 18 and and CCONJ taxlaw-2807 896 19 more more ADJ taxlaw-2807 896 20 losses loss NOUN taxlaw-2807 896 21 during during ADP taxlaw-2807 896 22 economic economic ADJ taxlaw-2807 896 23 downturns downturn NOUN taxlaw-2807 896 24 , , PUNCT taxlaw-2807 896 25 and and CCONJ taxlaw-2807 896 26 would would AUX taxlaw-2807 896 27 therefore therefore ADV taxlaw-2807 896 28 require require VERB taxlaw-2807 896 29 a a DET taxlaw-2807 896 30 very very ADV taxlaw-2807 896 31 strong strong ADJ taxlaw-2807 896 32 political political ADJ taxlaw-2807 896 33 commitment commitment NOUN taxlaw-2807 896 34 to to ADP taxlaw-2807 896 35 prudent prudent ADJ taxlaw-2807 896 36 countercyclical countercyclical NOUN taxlaw-2807 896 37 spending.212 spending.212 PROPN taxlaw-2807 896 38 additionally additionally ADV taxlaw-2807 896 39 , , PUNCT taxlaw-2807 896 40 a a DET taxlaw-2807 896 41 shift shift NOUN taxlaw-2807 896 42 to to ADP taxlaw-2807 896 43 a a DET taxlaw-2807 896 44 hybrid hybrid ADJ taxlaw-2807 896 45 mark mark NOUN taxlaw-2807 896 46 - - PUNCT taxlaw-2807 896 47 to to ADP taxlaw-2807 896 48 - - PUNCT taxlaw-2807 896 49 market market NOUN taxlaw-2807 896 50 tax tax NOUN taxlaw-2807 896 51 regime regime NOUN taxlaw-2807 896 52 would would AUX taxlaw-2807 896 53 call call VERB taxlaw-2807 896 54 into into ADP taxlaw-2807 896 55 question question NOUN taxlaw-2807 896 56 the the DET taxlaw-2807 896 57 desirability desirability NOUN taxlaw-2807 896 58 of of ADP taxlaw-2807 896 59 taxing tax VERB taxlaw-2807 896 60 income income NOUN taxlaw-2807 896 61 rather rather ADV taxlaw-2807 896 62 than than ADP taxlaw-2807 896 63 wealth wealth NOUN taxlaw-2807 896 64 . . PUNCT taxlaw-2807 897 1 third third ADJ taxlaw-2807 897 2 , , PUNCT taxlaw-2807 897 3 from from ADP taxlaw-2807 897 4 a a DET taxlaw-2807 897 5 historical historical ADJ taxlaw-2807 897 6 perspective perspective NOUN taxlaw-2807 897 7 , , PUNCT taxlaw-2807 897 8 it it PRON taxlaw-2807 897 9 seems seem VERB taxlaw-2807 897 10 as as SCONJ taxlaw-2807 897 11 though though SCONJ taxlaw-2807 897 12 much much ADJ taxlaw-2807 897 13 of of ADP taxlaw-2807 897 14 the the DET taxlaw-2807 897 15 justification justification NOUN taxlaw-2807 897 16 for for ADP taxlaw-2807 897 17 taxing tax VERB taxlaw-2807 897 18 income income NOUN taxlaw-2807 897 19 in in ADP taxlaw-2807 897 20 the the DET taxlaw-2807 897 21 first first ADJ taxlaw-2807 897 22 place place NOUN taxlaw-2807 897 23 was be AUX taxlaw-2807 897 24 the the DET taxlaw-2807 897 25 necessity necessity NOUN taxlaw-2807 897 26 of of ADP taxlaw-2807 897 27 relying rely VERB taxlaw-2807 897 28 on on ADP taxlaw-2807 897 29 the the DET taxlaw-2807 897 30 realization realization NOUN taxlaw-2807 897 31 event event NOUN taxlaw-2807 897 32 to to PART taxlaw-2807 897 33 determine determine VERB taxlaw-2807 897 34 the the DET taxlaw-2807 897 35 actual actual ADJ taxlaw-2807 897 36 value value NOUN taxlaw-2807 897 37 of of ADP taxlaw-2807 897 38 assets asset NOUN taxlaw-2807 897 39 . . PUNCT taxlaw-2807 898 1 there there PRON taxlaw-2807 898 2 are be VERB taxlaw-2807 898 3 , , PUNCT taxlaw-2807 898 4 of of ADP taxlaw-2807 898 5 course course NOUN taxlaw-2807 898 6 , , PUNCT taxlaw-2807 898 7 independent independent ADJ taxlaw-2807 898 8 arguments argument NOUN taxlaw-2807 898 9 for for ADP taxlaw-2807 898 10 why why SCONJ taxlaw-2807 898 11 income income NOUN taxlaw-2807 898 12 rather rather ADV taxlaw-2807 898 13 than than ADP taxlaw-2807 898 14 other other ADJ taxlaw-2807 898 15 tax tax NOUN taxlaw-2807 898 16 bases basis NOUN taxlaw-2807 898 17 such such ADJ taxlaw-2807 898 18 as as ADP taxlaw-2807 898 19 consumption consumption NOUN taxlaw-2807 898 20 or or CCONJ taxlaw-2807 898 21 wealth wealth NOUN taxlaw-2807 898 22 should should AUX taxlaw-2807 898 23 be be AUX taxlaw-2807 898 24 taxed.213 taxed.213 NOUN taxlaw-2807 898 25 however however ADV taxlaw-2807 898 26 , , PUNCT taxlaw-2807 898 27 once once ADV taxlaw-2807 898 28 the the DET taxlaw-2807 898 29 historical historical ADJ taxlaw-2807 898 30 connection connection NOUN taxlaw-2807 898 31 between between ADP taxlaw-2807 898 32 income income NOUN taxlaw-2807 898 33 and and CCONJ taxlaw-2807 898 34 the the DET taxlaw-2807 898 35 realization realization NOUN taxlaw-2807 898 36 requirement requirement NOUN taxlaw-2807 898 37 is be AUX taxlaw-2807 898 38 weakened weaken VERB taxlaw-2807 898 39 , , PUNCT taxlaw-2807 898 40 the the DET taxlaw-2807 898 41 question question NOUN taxlaw-2807 898 42 of of ADP taxlaw-2807 898 43 whether whether SCONJ taxlaw-2807 898 44 income income NOUN taxlaw-2807 898 45 tax tax NOUN taxlaw-2807 898 46 is be AUX taxlaw-2807 898 47 the the DET taxlaw-2807 898 48 most most ADV taxlaw-2807 898 49 appropriate appropriate ADJ taxlaw-2807 898 50 tax tax NOUN taxlaw-2807 898 51 base base NOUN taxlaw-2807 898 52 merits merit VERB taxlaw-2807 898 53 re re NOUN taxlaw-2807 898 54 - - NOUN taxlaw-2807 898 55 examination examination NOUN taxlaw-2807 898 56 . . PUNCT taxlaw-2807 899 1 finally finally ADV taxlaw-2807 899 2 , , PUNCT taxlaw-2807 899 3 and and CCONJ taxlaw-2807 899 4 most most ADV taxlaw-2807 899 5 importantly importantly ADV taxlaw-2807 899 6 , , PUNCT taxlaw-2807 899 7 we we PRON taxlaw-2807 899 8 have have AUX taxlaw-2807 899 9 argued argue VERB taxlaw-2807 899 10 that that SCONJ taxlaw-2807 899 11 current current ADJ taxlaw-2807 899 12 tax tax NOUN taxlaw-2807 899 13 literature literature NOUN taxlaw-2807 899 14 relies rely VERB taxlaw-2807 899 15 on on ADP taxlaw-2807 899 16 tax tax NOUN taxlaw-2807 899 17 administration administration NOUN taxlaw-2807 899 18 difficulties difficulty NOUN taxlaw-2807 899 19 with with ADP taxlaw-2807 899 20 respect respect NOUN taxlaw-2807 899 21 to to ADP taxlaw-2807 899 22 valuation valuation NOUN taxlaw-2807 899 23 of of ADP taxlaw-2807 899 24 assets asset NOUN taxlaw-2807 899 25 to to PART taxlaw-2807 899 26 justify justify VERB taxlaw-2807 899 27 the the DET taxlaw-2807 899 28 realization realization NOUN taxlaw-2807 899 29 requirement requirement NOUN taxlaw-2807 899 30 . . PUNCT taxlaw-2807 900 1 this this DET taxlaw-2807 900 2 article article NOUN taxlaw-2807 900 3 ’s ’s PART taxlaw-2807 900 4 argument argument NOUN taxlaw-2807 900 5 is be AUX taxlaw-2807 900 6 a a DET taxlaw-2807 900 7 byproduct byproduct NOUN taxlaw-2807 900 8 of of ADP taxlaw-2807 900 9 tax tax NOUN taxlaw-2807 900 10 authorities authority NOUN taxlaw-2807 900 11 ’ ’ PART taxlaw-2807 900 12 inability inability NOUN taxlaw-2807 900 13 to to PART taxlaw-2807 900 14 use use VERB taxlaw-2807 900 15 the the DET taxlaw-2807 900 16 market market NOUN taxlaw-2807 900 17 price price NOUN taxlaw-2807 900 18 as as ADP taxlaw-2807 900 19 a a DET taxlaw-2807 900 20 good good ADJ taxlaw-2807 900 21 proxy proxy NOUN taxlaw-2807 900 22 to to PART taxlaw-2807 900 23 determine determine VERB taxlaw-2807 900 24 the the DET taxlaw-2807 900 25 well well ADV taxlaw-2807 900 26 - - PUNCT taxlaw-2807 900 27 being be AUX taxlaw-2807 900 28 ( ( PUNCT taxlaw-2807 900 29 or or CCONJ taxlaw-2807 900 30 other other ADJ taxlaw-2807 900 31 currencies currency NOUN taxlaw-2807 900 32 of of ADP taxlaw-2807 900 33 justice justice NOUN taxlaw-2807 900 34 ) ) PUNCT taxlaw-2807 900 35 associated associate VERB taxlaw-2807 900 36 with with ADP taxlaw-2807 900 37 an an DET taxlaw-2807 900 38 asset asset NOUN taxlaw-2807 900 39 . . PUNCT taxlaw-2807 901 1 one one PRON taxlaw-2807 901 2 may may AUX taxlaw-2807 901 3 observe observe VERB taxlaw-2807 901 4 that that SCONJ taxlaw-2807 901 5 our our PRON taxlaw-2807 901 6 argument argument NOUN taxlaw-2807 901 7 can can AUX taxlaw-2807 901 8 also also ADV taxlaw-2807 901 9 be be AUX taxlaw-2807 901 10 viewed view VERB taxlaw-2807 901 11 as as ADP taxlaw-2807 901 12 an an DET taxlaw-2807 901 13 207 207 NUM taxlaw-2807 901 14 schenk schenk NOUN taxlaw-2807 901 15 , , PUNCT taxlaw-2807 901 16 supra supra PROPN taxlaw-2807 901 17 note note PROPN taxlaw-2807 901 18 12 12 NUM taxlaw-2807 901 19 , , PUNCT taxlaw-2807 901 20 at at ADP taxlaw-2807 901 21 396 396 NUM taxlaw-2807 901 22 . . PUNCT taxlaw-2807 902 1 208 208 NUM taxlaw-2807 902 2 benshalom benshalom NOUN taxlaw-2807 902 3 , , PUNCT taxlaw-2807 902 4 supra supra PROPN taxlaw-2807 902 5 note note PROPN taxlaw-2807 902 6 43 43 NUM taxlaw-2807 902 7 , , PUNCT taxlaw-2807 902 8 at at ADP taxlaw-2807 902 9 1259–71 1259–71 NOUN taxlaw-2807 902 10 ; ; PUNCT taxlaw-2807 902 11 weisbach weisbach NOUN taxlaw-2807 902 12 , , PUNCT taxlaw-2807 902 13 supra supra PROPN taxlaw-2807 902 14 note note NOUN taxlaw-2807 902 15 33 33 NUM taxlaw-2807 902 16 , , PUNCT taxlaw-2807 902 17 at at ADP taxlaw-2807 902 18 1631 1631 NUM taxlaw-2807 902 19 . . PUNCT taxlaw-2807 903 1 209 209 NUM taxlaw-2807 903 2 this this PRON taxlaw-2807 903 3 of of ADP taxlaw-2807 903 4 course course NOUN taxlaw-2807 903 5 assumes assume VERB taxlaw-2807 903 6 that that SCONJ taxlaw-2807 903 7 some some DET taxlaw-2807 903 8 attributes attribute NOUN taxlaw-2807 903 9 of of ADP taxlaw-2807 903 10 the the DET taxlaw-2807 903 11 tax tax NOUN taxlaw-2807 903 12 code code NOUN taxlaw-2807 903 13 are be AUX taxlaw-2807 903 14 politically politically ADV taxlaw-2807 903 15 fixed fix VERB taxlaw-2807 903 16 . . PUNCT taxlaw-2807 904 1 see see VERB taxlaw-2807 904 2 weisbach weisbach NOUN taxlaw-2807 904 3 , , PUNCT taxlaw-2807 904 4 supra supra PROPN taxlaw-2807 904 5 note note NOUN taxlaw-2807 904 6 33 33 NUM taxlaw-2807 904 7 , , PUNCT taxlaw-2807 904 8 at at ADP taxlaw-2807 904 9 1631–32 1631–32 NUM taxlaw-2807 904 10 . . PUNCT taxlaw-2807 905 1 210 210 NUM taxlaw-2807 905 2 see see VERB taxlaw-2807 905 3 generally generally ADV taxlaw-2807 905 4 weisbach weisbach NOUN taxlaw-2807 905 5 , , PUNCT taxlaw-2807 905 6 supra supra PROPN taxlaw-2807 905 7 note note NOUN taxlaw-2807 905 8 33 33 NUM taxlaw-2807 905 9 ( ( PUNCT taxlaw-2807 905 10 claiming claim VERB taxlaw-2807 905 11 that that DET taxlaw-2807 905 12 line line NOUN taxlaw-2807 905 13 drawing drawing NOUN taxlaw-2807 905 14 problems problem NOUN taxlaw-2807 905 15 are be AUX taxlaw-2807 905 16 inherent inherent ADJ taxlaw-2807 905 17 to to PART taxlaw-2807 905 18 tax tax NOUN taxlaw-2807 905 19 law law NOUN taxlaw-2807 905 20 ) ) PUNCT taxlaw-2807 905 21 . . PUNCT taxlaw-2807 906 1 211 211 NUM taxlaw-2807 906 2 see see VERB taxlaw-2807 906 3 generally generally ADV taxlaw-2807 906 4 bankman bankman ADJ taxlaw-2807 906 5 & & CCONJ taxlaw-2807 906 6 weisbach weisbach NOUN taxlaw-2807 906 7 , , PUNCT taxlaw-2807 906 8 supra supra PROPN taxlaw-2807 906 9 note note PROPN taxlaw-2807 906 10 7 7 NUM taxlaw-2807 906 11 ( ( PUNCT taxlaw-2807 906 12 arguing argue VERB taxlaw-2807 906 13 that that SCONJ taxlaw-2807 906 14 a a DET taxlaw-2807 906 15 consumption consumption NOUN taxlaw-2807 906 16 tax tax NOUN taxlaw-2807 906 17 is be AUX taxlaw-2807 906 18 desirable desirable ADJ taxlaw-2807 906 19 on on ADP taxlaw-2807 906 20 the the DET taxlaw-2807 906 21 grounds ground NOUN taxlaw-2807 906 22 that that SCONJ taxlaw-2807 906 23 the the DET taxlaw-2807 906 24 income income NOUN taxlaw-2807 906 25 tax tax NOUN taxlaw-2807 906 26 can can AUX taxlaw-2807 906 27 not not PART taxlaw-2807 906 28 meet meet VERB taxlaw-2807 906 29 its its PRON taxlaw-2807 906 30 distributional distributional ADJ taxlaw-2807 906 31 objectives objective NOUN taxlaw-2807 906 32 ) ) PUNCT taxlaw-2807 906 33 . . PUNCT taxlaw-2807 907 1 see see VERB taxlaw-2807 907 2 also also ADV taxlaw-2807 907 3 mccaffery mccaffery PROPN taxlaw-2807 907 4 & & CCONJ taxlaw-2807 907 5 hines hine NOUN taxlaw-2807 907 6 , , PUNCT taxlaw-2807 907 7 supra supra PROPN taxlaw-2807 907 8 note note NOUN taxlaw-2807 907 9 6 6 NUM taxlaw-2807 907 10 . . NOUN taxlaw-2807 907 11 212 212 NUM taxlaw-2807 907 12 needless needless ADJ taxlaw-2807 907 13 to to PART taxlaw-2807 907 14 say say VERB taxlaw-2807 907 15 , , PUNCT taxlaw-2807 907 16 such such DET taxlaw-2807 907 17 a a DET taxlaw-2807 907 18 commitment commitment NOUN taxlaw-2807 907 19 does do AUX taxlaw-2807 907 20 not not PART taxlaw-2807 907 21 exist exist VERB taxlaw-2807 907 22 in in ADP taxlaw-2807 907 23 the the DET taxlaw-2807 907 24 current current ADJ taxlaw-2807 907 25 political political ADJ taxlaw-2807 907 26 arena arena NOUN taxlaw-2807 907 27 . . PUNCT taxlaw-2807 908 1 daniel daniel PROPN taxlaw-2807 908 2 n. n. PROPN taxlaw-2807 908 3 shaviro shaviro PROPN taxlaw-2807 908 4 , , PUNCT taxlaw-2807 908 5 taxes taxis NOUN taxlaw-2807 908 6 , , PUNCT taxlaw-2807 908 7 spending spending NOUN taxlaw-2807 908 8 , , PUNCT taxlaw-2807 908 9 and and CCONJ taxlaw-2807 908 10 the the DET taxlaw-2807 908 11 u.s u.s PROPN taxlaw-2807 908 12 . . PROPN taxlaw-2807 908 13 gov’t gov’t PROPN taxlaw-2807 908 14 ’s ’s PART taxlaw-2807 908 15 march march NOUN taxlaw-2807 908 16 toward toward ADP taxlaw-2807 908 17 bankr bankr NOUN taxlaw-2807 908 18 . . PUNCT taxlaw-2807 909 1 116–47 116–47 NUM taxlaw-2807 909 2 ( ( PUNCT taxlaw-2807 909 3 2006 2006 NUM taxlaw-2807 909 4 ) ) PUNCT taxlaw-2807 909 5 . . PUNCT taxlaw-2807 910 1 213 213 NUM taxlaw-2807 910 2 see see VERB taxlaw-2807 910 3 , , PUNCT taxlaw-2807 910 4 e.g. e.g. ADV taxlaw-2807 910 5 , , PUNCT taxlaw-2807 910 6 alvin alvin PROPN taxlaw-2807 910 7 warren warren PROPN taxlaw-2807 910 8 , , PUNCT taxlaw-2807 910 9 would would AUX taxlaw-2807 910 10 a a DET taxlaw-2807 910 11 consumption consumption NOUN taxlaw-2807 910 12 tax tax NOUN taxlaw-2807 910 13 be be AUX taxlaw-2807 910 14 fairer fair ADJ taxlaw-2807 910 15 than than ADP taxlaw-2807 910 16 an an DET taxlaw-2807 910 17 income income NOUN taxlaw-2807 910 18 tax tax NOUN taxlaw-2807 910 19 ? ? PUNCT taxlaw-2807 910 20 , , PUNCT taxlaw-2807 910 21 89 89 NUM taxlaw-2807 910 22 yale yale PROPN taxlaw-2807 910 23 l.j l.j PROPN taxlaw-2807 910 24 . . PROPN taxlaw-2807 910 25 1081 1081 NUM taxlaw-2807 910 26 , , PUNCT taxlaw-2807 910 27 1093 1093 NUM taxlaw-2807 910 28 - - SYM taxlaw-2807 910 29 94 94 NUM taxlaw-2807 910 30 ( ( PUNCT taxlaw-2807 910 31 1980 1980 NUM taxlaw-2807 910 32 ) ) PUNCT taxlaw-2807 910 33 . . PUNCT taxlaw-2807 911 1 84 84 NUM taxlaw-2807 911 2 columbia columbia PROPN taxlaw-2807 911 3 journal journal PROPN taxlaw-2807 911 4 of of ADP taxlaw-2807 911 5 tax tax NOUN taxlaw-2807 911 6 law law NOUN taxlaw-2807 911 7 [ [ X taxlaw-2807 911 8 vol.3:43 vol.3:43 PROPN taxlaw-2807 911 9 administrative administrative ADJ taxlaw-2807 911 10 constraint constraint NOUN taxlaw-2807 911 11 . . PUNCT taxlaw-2807 912 1 after after ADV taxlaw-2807 912 2 all all ADV taxlaw-2807 912 3 , , PUNCT taxlaw-2807 912 4 we we PRON taxlaw-2807 912 5 start start VERB taxlaw-2807 912 6 by by ADP taxlaw-2807 912 7 explaining explain VERB taxlaw-2807 912 8 that that SCONJ taxlaw-2807 912 9 the the DET taxlaw-2807 912 10 main main ADJ taxlaw-2807 912 11 problem problem NOUN taxlaw-2807 912 12 with with ADP taxlaw-2807 912 13 realization realization NOUN taxlaw-2807 912 14 , , PUNCT taxlaw-2807 912 15 as as SCONJ taxlaw-2807 912 16 it it PRON taxlaw-2807 912 17 is be AUX taxlaw-2807 912 18 perceived perceive VERB taxlaw-2807 912 19 today today NOUN taxlaw-2807 912 20 , , PUNCT taxlaw-2807 912 21 is be AUX taxlaw-2807 912 22 the the DET taxlaw-2807 912 23 difficulty difficulty NOUN taxlaw-2807 912 24 of of ADP taxlaw-2807 912 25 making make VERB taxlaw-2807 912 26 accurate accurate ADJ taxlaw-2807 912 27 market market NOUN taxlaw-2807 912 28 price price NOUN taxlaw-2807 912 29 valuations valuation NOUN taxlaw-2807 912 30 . . PUNCT taxlaw-2807 913 1 our our PRON taxlaw-2807 913 2 claim claim NOUN taxlaw-2807 913 3 is be AUX taxlaw-2807 913 4 that that SCONJ taxlaw-2807 913 5 this this DET taxlaw-2807 913 6 ability ability NOUN taxlaw-2807 913 7 to to PART taxlaw-2807 913 8 make make VERB taxlaw-2807 913 9 accurate accurate ADJ taxlaw-2807 913 10 market market NOUN taxlaw-2807 913 11 valuations valuation NOUN taxlaw-2807 913 12 may may AUX taxlaw-2807 913 13 change change VERB taxlaw-2807 913 14 over over ADP taxlaw-2807 913 15 time time NOUN taxlaw-2807 913 16 and and CCONJ taxlaw-2807 913 17 that that SCONJ taxlaw-2807 913 18 the the DET taxlaw-2807 913 19 real real ADJ taxlaw-2807 913 20 problem problem NOUN taxlaw-2807 913 21 is be AUX taxlaw-2807 913 22 the the DET taxlaw-2807 913 23 inability inability NOUN taxlaw-2807 913 24 of of ADP taxlaw-2807 913 25 tax tax NOUN taxlaw-2807 913 26 authorities authority NOUN taxlaw-2807 913 27 to to PART taxlaw-2807 913 28 measure measure VERB taxlaw-2807 913 29 the the DET taxlaw-2807 913 30 subjective subjective ADJ taxlaw-2807 913 31 value value NOUN taxlaw-2807 913 32 ( ( PUNCT taxlaw-2807 913 33 or or CCONJ taxlaw-2807 913 34 utility utility NOUN taxlaw-2807 913 35 ) ) PUNCT taxlaw-2807 913 36 that that SCONJ taxlaw-2807 913 37 individuals individual NOUN taxlaw-2807 913 38 derive derive VERB taxlaw-2807 913 39 from from ADP taxlaw-2807 913 40 personal personal ADJ taxlaw-2807 913 41 assets asset NOUN taxlaw-2807 913 42 . . PUNCT taxlaw-2807 914 1 one one PRON taxlaw-2807 914 2 can can AUX taxlaw-2807 914 3 claim claim VERB taxlaw-2807 914 4 that that SCONJ taxlaw-2807 914 5 policymakers policymaker NOUN taxlaw-2807 914 6 ’ ’ PART taxlaw-2807 914 7 capacities capacity NOUN taxlaw-2807 914 8 to to PART taxlaw-2807 914 9 observe observe VERB taxlaw-2807 914 10 utility utility NOUN taxlaw-2807 914 11 may may AUX taxlaw-2807 914 12 change change VERB taxlaw-2807 914 13 over over ADP taxlaw-2807 914 14 time time NOUN taxlaw-2807 914 15 . . PUNCT taxlaw-2807 915 1 these these DET taxlaw-2807 915 2 two two NUM taxlaw-2807 915 3 types type NOUN taxlaw-2807 915 4 of of ADP taxlaw-2807 915 5 constraints constraint NOUN taxlaw-2807 915 6 should should AUX taxlaw-2807 915 7 be be AUX taxlaw-2807 915 8 distinguished distinguish VERB taxlaw-2807 915 9 . . PUNCT taxlaw-2807 916 1 the the DET taxlaw-2807 916 2 current current ADJ taxlaw-2807 916 3 market market NOUN taxlaw-2807 916 4 valuation valuation NOUN taxlaw-2807 916 5 constraint constraint NOUN taxlaw-2807 916 6 is be AUX taxlaw-2807 916 7 something something PRON taxlaw-2807 916 8 that that PRON taxlaw-2807 916 9 technology technology NOUN taxlaw-2807 916 10 can can AUX taxlaw-2807 916 11 change change VERB taxlaw-2807 916 12 , , PUNCT taxlaw-2807 916 13 and and CCONJ taxlaw-2807 916 14 is be AUX taxlaw-2807 916 15 actually actually ADV taxlaw-2807 916 16 in in ADP taxlaw-2807 916 17 the the DET taxlaw-2807 916 18 process process NOUN taxlaw-2807 916 19 of of ADP taxlaw-2807 916 20 changing change VERB taxlaw-2807 916 21 . . PUNCT taxlaw-2807 917 1 as as ADP taxlaw-2807 917 2 a a DET taxlaw-2807 917 3 field field NOUN taxlaw-2807 917 4 in in ADP taxlaw-2807 917 5 finance finance NOUN taxlaw-2807 917 6 , , PUNCT taxlaw-2807 917 7 asset asset NOUN taxlaw-2807 917 8 pricing pricing NOUN taxlaw-2807 917 9 constantly constantly ADV taxlaw-2807 917 10 advances advance VERB taxlaw-2807 917 11 , , PUNCT taxlaw-2807 917 12 so so SCONJ taxlaw-2807 917 13 that that SCONJ taxlaw-2807 917 14 an an DET taxlaw-2807 917 15 increasing increase VERB taxlaw-2807 917 16 number number NOUN taxlaw-2807 917 17 of of ADP taxlaw-2807 917 18 assets asset NOUN taxlaw-2807 917 19 can can AUX taxlaw-2807 917 20 be be AUX taxlaw-2807 917 21 consistently consistently ADV taxlaw-2807 917 22 and and CCONJ taxlaw-2807 917 23 cheaply cheaply ADV taxlaw-2807 917 24 priced price VERB taxlaw-2807 917 25 . . PUNCT taxlaw-2807 918 1 this this PRON taxlaw-2807 918 2 is be AUX taxlaw-2807 918 3 not not PART taxlaw-2807 918 4 the the DET taxlaw-2807 918 5 case case NOUN taxlaw-2807 918 6 with with ADP taxlaw-2807 918 7 the the DET taxlaw-2807 918 8 gap gap NOUN taxlaw-2807 918 9 - - PUNCT taxlaw-2807 918 10 in in ADP taxlaw-2807 918 11 - - PUNCT taxlaw-2807 918 12 value value NOUN taxlaw-2807 918 13 argument argument NOUN taxlaw-2807 918 14 because because SCONJ taxlaw-2807 918 15 technology technology NOUN taxlaw-2807 918 16 can can AUX taxlaw-2807 918 17 not not PART taxlaw-2807 918 18 help help VERB taxlaw-2807 918 19 us we PRON taxlaw-2807 918 20 measure measure VERB taxlaw-2807 918 21 welfare welfare NOUN taxlaw-2807 918 22 and and CCONJ taxlaw-2807 918 23 other other ADJ taxlaw-2807 918 24 benchmarks benchmark NOUN taxlaw-2807 918 25 of of ADP taxlaw-2807 918 26 economic economic ADJ taxlaw-2807 918 27 well well NOUN taxlaw-2807 918 28 - - PUNCT taxlaw-2807 918 29 being being NOUN taxlaw-2807 918 30 . . PUNCT taxlaw-2807 919 1 for for ADP taxlaw-2807 919 2 this this DET taxlaw-2807 919 3 reason reason NOUN taxlaw-2807 919 4 , , PUNCT taxlaw-2807 919 5 policymakers policymaker NOUN taxlaw-2807 919 6 can can AUX taxlaw-2807 919 7 not not PART taxlaw-2807 919 8 avoid avoid VERB taxlaw-2807 919 9 making make VERB taxlaw-2807 919 10 some some DET taxlaw-2807 919 11 normative normative ADJ taxlaw-2807 919 12 assumptions assumption NOUN taxlaw-2807 919 13 about about ADP taxlaw-2807 919 14 how how SCONJ taxlaw-2807 919 15 to to PART taxlaw-2807 919 16 measure measure VERB taxlaw-2807 919 17 well well ADV taxlaw-2807 919 18 - - PUNCT taxlaw-2807 919 19 being being NOUN taxlaw-2807 919 20 for for ADP taxlaw-2807 919 21 tax tax NOUN taxlaw-2807 919 22 purposes.214 purposes.214 ADJ taxlaw-2807 919 23 this this DET taxlaw-2807 919 24 article article NOUN taxlaw-2807 919 25 can can AUX taxlaw-2807 919 26 not not PART taxlaw-2807 919 27 explore explore VERB taxlaw-2807 919 28 this this DET taxlaw-2807 919 29 point point NOUN taxlaw-2807 919 30 , , PUNCT taxlaw-2807 919 31 but but CCONJ taxlaw-2807 919 32 it it PRON taxlaw-2807 919 33 is be AUX taxlaw-2807 919 34 important important ADJ taxlaw-2807 919 35 to to PART taxlaw-2807 919 36 note note VERB taxlaw-2807 919 37 that that SCONJ taxlaw-2807 919 38 , , PUNCT taxlaw-2807 919 39 ideologically ideologically ADV taxlaw-2807 919 40 , , PUNCT taxlaw-2807 919 41 we we PRON taxlaw-2807 919 42 would would AUX taxlaw-2807 919 43 welcome welcome VERB taxlaw-2807 919 44 a a DET taxlaw-2807 919 45 discussion discussion NOUN taxlaw-2807 919 46 about about ADP taxlaw-2807 919 47 the the DET taxlaw-2807 919 48 limits limit NOUN taxlaw-2807 919 49 of of ADP taxlaw-2807 919 50 market market NOUN taxlaw-2807 919 51 price price NOUN taxlaw-2807 919 52 as as ADP taxlaw-2807 919 53 a a DET taxlaw-2807 919 54 proxy proxy NOUN taxlaw-2807 919 55 . . PUNCT taxlaw-2807 920 1 such such DET taxlaw-2807 920 2 a a DET taxlaw-2807 920 3 discussion discussion NOUN taxlaw-2807 920 4 would would AUX taxlaw-2807 920 5 depart depart VERB taxlaw-2807 920 6 from from ADP taxlaw-2807 920 7 what what PRON taxlaw-2807 920 8 seems seem VERB taxlaw-2807 920 9 to to PART taxlaw-2807 920 10 be be AUX taxlaw-2807 920 11 the the DET taxlaw-2807 920 12 current current ADJ taxlaw-2807 920 13 orthodoxy orthodoxy NOUN taxlaw-2807 920 14 within within ADP taxlaw-2807 920 15 tax tax NOUN taxlaw-2807 920 16 law law NOUN taxlaw-2807 920 17 , , PUNCT taxlaw-2807 920 18 which which PRON taxlaw-2807 920 19 focuses focus VERB taxlaw-2807 920 20 almost almost ADV taxlaw-2807 920 21 exclusively exclusively ADV taxlaw-2807 920 22 on on ADP taxlaw-2807 920 23 the the DET taxlaw-2807 920 24 virtues virtue NOUN taxlaw-2807 920 25 of of ADP taxlaw-2807 920 26 the the DET taxlaw-2807 920 27 market market NOUN taxlaw-2807 920 28 price price NOUN taxlaw-2807 920 29 as as ADP taxlaw-2807 920 30 an an DET taxlaw-2807 920 31 objective objective NOUN taxlaw-2807 920 32 , , PUNCT taxlaw-2807 920 33 value value NOUN taxlaw-2807 920 34 neutral neutral ADJ taxlaw-2807 920 35 measurement measurement NOUN taxlaw-2807 920 36 of of ADP taxlaw-2807 920 37 economic economic ADJ taxlaw-2807 920 38 well well NOUN taxlaw-2807 920 39 - - PUNCT taxlaw-2807 920 40 being being NOUN taxlaw-2807 920 41 . . PUNCT taxlaw-2807 921 1 conclusions conclusion NOUN taxlaw-2807 921 2 the the DET taxlaw-2807 921 3 above above ADJ taxlaw-2807 921 4 analysis analysis NOUN taxlaw-2807 921 5 explains explain VERB taxlaw-2807 921 6 why why SCONJ taxlaw-2807 921 7 realization realization NOUN taxlaw-2807 921 8 should should AUX taxlaw-2807 921 9 play play VERB taxlaw-2807 921 10 a a DET taxlaw-2807 921 11 normative normative ADJ taxlaw-2807 921 12 role role NOUN taxlaw-2807 921 13 in in ADP taxlaw-2807 921 14 modern modern ADJ taxlaw-2807 921 15 income income NOUN taxlaw-2807 921 16 tax tax NOUN taxlaw-2807 921 17 regimes regime NOUN taxlaw-2807 921 18 . . PUNCT taxlaw-2807 922 1 this this DET taxlaw-2807 922 2 role role NOUN taxlaw-2807 922 3 intimately intimately ADV taxlaw-2807 922 4 relates relate VERB taxlaw-2807 922 5 to to ADP taxlaw-2807 922 6 the the DET taxlaw-2807 922 7 way way NOUN taxlaw-2807 922 8 liberal liberal ADJ taxlaw-2807 922 9 egalitarian egalitarian ADJ taxlaw-2807 922 10 societies society NOUN taxlaw-2807 922 11 should should AUX taxlaw-2807 922 12 promote promote VERB taxlaw-2807 922 13 notions notion NOUN taxlaw-2807 922 14 of of ADP taxlaw-2807 922 15 distributive distributive ADJ taxlaw-2807 922 16 justice justice NOUN taxlaw-2807 922 17 . . PUNCT taxlaw-2807 923 1 rather rather ADV taxlaw-2807 923 2 than than ADP taxlaw-2807 923 3 summarizing summarize VERB taxlaw-2807 923 4 our our PRON taxlaw-2807 923 5 points point NOUN taxlaw-2807 923 6 , , PUNCT taxlaw-2807 923 7 we we PRON taxlaw-2807 923 8 wish wish VERB taxlaw-2807 923 9 to to PART taxlaw-2807 923 10 highlight highlight VERB taxlaw-2807 923 11 the the DET taxlaw-2807 923 12 article article NOUN taxlaw-2807 923 13 ’s ’s PART taxlaw-2807 923 14 main main ADJ taxlaw-2807 923 15 contribution contribution NOUN taxlaw-2807 923 16 to to ADP taxlaw-2807 923 17 legal legal ADJ taxlaw-2807 923 18 literature literature NOUN taxlaw-2807 923 19 discussing discuss VERB taxlaw-2807 923 20 tax tax NOUN taxlaw-2807 923 21 - - PUNCT taxlaw-2807 923 22 distributive distributive ADJ taxlaw-2807 923 23 schemes scheme NOUN taxlaw-2807 923 24 . . PUNCT taxlaw-2807 924 1 first first ADV taxlaw-2807 924 2 , , PUNCT taxlaw-2807 924 3 the the DET taxlaw-2807 924 4 dominant dominant ADJ taxlaw-2807 924 5 role role NOUN taxlaw-2807 924 6 of of ADP taxlaw-2807 924 7 the the DET taxlaw-2807 924 8 realization realization NOUN taxlaw-2807 924 9 requirement requirement NOUN taxlaw-2807 924 10 in in ADP taxlaw-2807 924 11 the the DET taxlaw-2807 924 12 income income NOUN taxlaw-2807 924 13 tax tax NOUN taxlaw-2807 924 14 framework framework NOUN taxlaw-2807 924 15 indicates indicate VERB taxlaw-2807 924 16 that that SCONJ taxlaw-2807 924 17 administrative administrative ADJ taxlaw-2807 924 18 difficulties difficulty NOUN taxlaw-2807 924 19 will will AUX taxlaw-2807 924 20 not not PART taxlaw-2807 924 21 stifle stifle VERB taxlaw-2807 924 22 a a DET taxlaw-2807 924 23 normative normative ADJ taxlaw-2807 924 24 - - ADJ taxlaw-2807 924 25 distributive distributive ADJ taxlaw-2807 924 26 analysis analysis NOUN taxlaw-2807 924 27 of of ADP taxlaw-2807 924 28 its its PRON taxlaw-2807 924 29 function function NOUN taxlaw-2807 924 30 . . PUNCT taxlaw-2807 925 1 the the DET taxlaw-2807 925 2 income income NOUN taxlaw-2807 925 3 tax tax NOUN taxlaw-2807 925 4 regime regime NOUN taxlaw-2807 925 5 is be AUX taxlaw-2807 925 6 a a DET taxlaw-2807 925 7 vital vital ADJ taxlaw-2807 925 8 instrument instrument NOUN taxlaw-2807 925 9 for for ADP taxlaw-2807 925 10 achieving achieve VERB taxlaw-2807 925 11 redistribution redistribution NOUN taxlaw-2807 925 12 in in ADP taxlaw-2807 925 13 liberal liberal ADJ taxlaw-2807 925 14 democracies democracy NOUN taxlaw-2807 925 15 , , PUNCT taxlaw-2807 925 16 so so SCONJ taxlaw-2807 925 17 academics academic NOUN taxlaw-2807 925 18 and and CCONJ taxlaw-2807 925 19 policymakers policymaker NOUN taxlaw-2807 925 20 should should AUX taxlaw-2807 925 21 see see VERB taxlaw-2807 925 22 a a DET taxlaw-2807 925 23 concrete concrete ADJ taxlaw-2807 925 24 distributive distributive ADJ taxlaw-2807 925 25 analysis analysis NOUN taxlaw-2807 925 26 of of ADP taxlaw-2807 925 27 its its PRON taxlaw-2807 925 28 attributes attribute NOUN taxlaw-2807 925 29 as as ADP taxlaw-2807 925 30 a a DET taxlaw-2807 925 31 necessity necessity NOUN taxlaw-2807 925 32 . . PUNCT taxlaw-2807 926 1 second second ADJ taxlaw-2807 926 2 , , PUNCT taxlaw-2807 926 3 by by ADP taxlaw-2807 926 4 emphasizing emphasize VERB taxlaw-2807 926 5 the the DET taxlaw-2807 926 6 importance importance NOUN taxlaw-2807 926 7 of of ADP taxlaw-2807 926 8 the the DET taxlaw-2807 926 9 difference difference NOUN taxlaw-2807 926 10 between between ADP taxlaw-2807 926 11 market market NOUN taxlaw-2807 926 12 and and CCONJ taxlaw-2807 926 13 subjective subjective ADJ taxlaw-2807 926 14 valuation valuation NOUN taxlaw-2807 926 15 with with ADP taxlaw-2807 926 16 respect respect NOUN taxlaw-2807 926 17 to to ADP taxlaw-2807 926 18 certain certain ADJ taxlaw-2807 926 19 personal personal ADJ taxlaw-2807 926 20 assets asset NOUN taxlaw-2807 926 21 , , PUNCT taxlaw-2807 926 22 this this DET taxlaw-2807 926 23 article article NOUN taxlaw-2807 926 24 encourages encourage VERB taxlaw-2807 926 25 a a DET taxlaw-2807 926 26 new new ADJ taxlaw-2807 926 27 paradigmatic paradigmatic ADJ taxlaw-2807 926 28 thinking thinking NOUN taxlaw-2807 926 29 about about ADP taxlaw-2807 926 30 realization realization NOUN taxlaw-2807 926 31 . . PUNCT taxlaw-2807 927 1 the the DET taxlaw-2807 927 2 enormous enormous ADJ taxlaw-2807 927 3 social social ADJ taxlaw-2807 927 4 costs cost NOUN taxlaw-2807 927 5 associated associate VERB taxlaw-2807 927 6 with with ADP taxlaw-2807 927 7 realization realization NOUN taxlaw-2807 927 8 should should AUX taxlaw-2807 927 9 prompt prompt VERB taxlaw-2807 927 10 serious serious ADJ taxlaw-2807 927 11 consideration consideration NOUN taxlaw-2807 927 12 of of ADP taxlaw-2807 927 13 how how SCONJ taxlaw-2807 927 14 to to PART taxlaw-2807 927 15 advance advance VERB taxlaw-2807 927 16 a a DET taxlaw-2807 927 17 progressive progressive ADJ taxlaw-2807 927 18 hybrid hybrid ADJ taxlaw-2807 927 19 income income NOUN taxlaw-2807 927 20 tax tax NOUN taxlaw-2807 927 21 regime regime NOUN taxlaw-2807 927 22 . . PUNCT taxlaw-2807 928 1 such such DET taxlaw-2807 928 2 a a DET taxlaw-2807 928 3 regime regime NOUN taxlaw-2807 928 4 would would AUX taxlaw-2807 928 5 not not PART taxlaw-2807 928 6 be be AUX taxlaw-2807 928 7 flawless flawless ADJ taxlaw-2807 928 8 but but CCONJ taxlaw-2807 928 9 would would AUX taxlaw-2807 928 10 attain attain VERB taxlaw-2807 928 11 the the DET taxlaw-2807 928 12 preferred preferred ADJ taxlaw-2807 928 13 level level NOUN taxlaw-2807 928 14 of of ADP taxlaw-2807 928 15 tax tax NOUN taxlaw-2807 928 16 - - PUNCT taxlaw-2807 928 17 redistribution redistribution NOUN taxlaw-2807 928 18 in in ADP taxlaw-2807 928 19 a a DET taxlaw-2807 928 20 much much ADV taxlaw-2807 928 21 more more ADV taxlaw-2807 928 22 efficient efficient ADJ taxlaw-2807 928 23 and and CCONJ taxlaw-2807 928 24 equitable equitable ADJ taxlaw-2807 928 25 way way NOUN taxlaw-2807 928 26 . . PUNCT taxlaw-2807 929 1 finally finally ADV taxlaw-2807 929 2 , , PUNCT taxlaw-2807 929 3 this this DET taxlaw-2807 929 4 article article NOUN taxlaw-2807 929 5 calls call VERB taxlaw-2807 929 6 for for ADP taxlaw-2807 929 7 a a DET taxlaw-2807 929 8 re re NOUN taxlaw-2807 929 9 - - NOUN taxlaw-2807 929 10 examination examination NOUN taxlaw-2807 929 11 of of ADP taxlaw-2807 929 12 the the DET taxlaw-2807 929 13 role role NOUN taxlaw-2807 929 14 that that PRON taxlaw-2807 929 15 market market NOUN taxlaw-2807 929 16 price price NOUN taxlaw-2807 929 17 plays play NOUN taxlaw-2807 929 18 in in ADP taxlaw-2807 929 19 contemporary contemporary ADJ taxlaw-2807 929 20 tax tax NOUN taxlaw-2807 929 21 theory theory NOUN taxlaw-2807 929 22 . . PUNCT taxlaw-2807 930 1 this this PRON taxlaw-2807 930 2 is be AUX taxlaw-2807 930 3 not not PART taxlaw-2807 930 4 to to PART taxlaw-2807 930 5 suggest suggest VERB taxlaw-2807 930 6 that that SCONJ taxlaw-2807 930 7 market market NOUN taxlaw-2807 930 8 price price NOUN taxlaw-2807 930 9 and and CCONJ taxlaw-2807 930 10 its its PRON taxlaw-2807 930 11 related related ADJ taxlaw-2807 930 12 efficiency efficiency NOUN taxlaw-2807 930 13 implications implication NOUN taxlaw-2807 930 14 offer offer VERB taxlaw-2807 930 15 no no DET taxlaw-2807 930 16 value value NOUN taxlaw-2807 930 17 but but CCONJ taxlaw-2807 930 18 simply simply ADV taxlaw-2807 930 19 that that DET taxlaw-2807 930 20 reality reality NOUN taxlaw-2807 930 21 is be AUX taxlaw-2807 930 22 far far ADV taxlaw-2807 930 23 more more ADV taxlaw-2807 930 24 nuanced nuanced ADJ taxlaw-2807 930 25 . . PUNCT taxlaw-2807 931 1 market market NOUN taxlaw-2807 931 2 price price NOUN taxlaw-2807 931 3 is be AUX taxlaw-2807 931 4 just just ADV taxlaw-2807 931 5 one one NUM taxlaw-2807 931 6 way way NOUN taxlaw-2807 931 7 to to PART taxlaw-2807 931 8 describe describe VERB taxlaw-2807 931 9 individuals individual NOUN taxlaw-2807 931 10 ’ ' PUNCT taxlaw-2807 931 11 economic economic ADJ taxlaw-2807 931 12 well well ADV taxlaw-2807 931 13 - - PUNCT taxlaw-2807 931 14 being being NOUN taxlaw-2807 931 15 for for ADP taxlaw-2807 931 16 distributive distributive ADJ taxlaw-2807 931 17 purposes purpose NOUN taxlaw-2807 931 18 , , PUNCT taxlaw-2807 931 19 but but CCONJ taxlaw-2807 931 20 there there PRON taxlaw-2807 931 21 are be VERB taxlaw-2807 931 22 other other ADJ taxlaw-2807 931 23 objective objective ADJ taxlaw-2807 931 24 and and CCONJ taxlaw-2807 931 25 subjective subjective ADJ taxlaw-2807 931 26 ways way NOUN taxlaw-2807 931 27 . . PUNCT taxlaw-2807 932 1 good good ADJ taxlaw-2807 932 2 policymaking policymaking NOUN taxlaw-2807 932 3 requires require VERB taxlaw-2807 932 4 trying try VERB taxlaw-2807 932 5 , , PUNCT taxlaw-2807 932 6 to to ADP taxlaw-2807 932 7 the the DET taxlaw-2807 932 8 extent extent NOUN taxlaw-2807 932 9 possible possible ADJ taxlaw-2807 932 10 , , PUNCT taxlaw-2807 932 11 to to PART taxlaw-2807 932 12 make make VERB taxlaw-2807 932 13 the the DET taxlaw-2807 932 14 best good ADJ taxlaw-2807 932 15 account account NOUN taxlaw-2807 932 16 of of ADP taxlaw-2807 932 17 them they PRON taxlaw-2807 932 18 all all PRON taxlaw-2807 932 19 . . PUNCT taxlaw-2807 933 1 214 214 NUM taxlaw-2807 933 2 for for ADP taxlaw-2807 933 3 example example NOUN taxlaw-2807 933 4 , , PUNCT taxlaw-2807 933 5 policymakers policymaker NOUN taxlaw-2807 933 6 could could AUX taxlaw-2807 933 7 say say VERB taxlaw-2807 933 8 that that SCONJ taxlaw-2807 933 9 the the DET taxlaw-2807 933 10 value value NOUN taxlaw-2807 933 11 of of ADP taxlaw-2807 933 12 a a DET taxlaw-2807 933 13 taxpayer taxpayer NOUN taxlaw-2807 933 14 ’s ’s PART taxlaw-2807 933 15 personal personal ADJ taxlaw-2807 933 16 assets asset NOUN taxlaw-2807 933 17 should should AUX taxlaw-2807 933 18 be be AUX taxlaw-2807 933 19 calculated calculate VERB taxlaw-2807 933 20 based base VERB taxlaw-2807 933 21 on on ADP taxlaw-2807 933 22 the the DET taxlaw-2807 933 23 market market NOUN taxlaw-2807 933 24 price price NOUN taxlaw-2807 933 25 of of ADP taxlaw-2807 933 26 the the DET taxlaw-2807 933 27 asset asset NOUN taxlaw-2807 933 28 multiplied multiply VERB taxlaw-2807 933 29 by by ADP taxlaw-2807 933 30 a a DET taxlaw-2807 933 31 factor factor NOUN taxlaw-2807 933 32 that that PRON taxlaw-2807 933 33 is be AUX taxlaw-2807 933 34 correlated correlate VERB taxlaw-2807 933 35 with with ADP taxlaw-2807 933 36 the the DET taxlaw-2807 933 37 taxpayer taxpayer NOUN taxlaw-2807 933 38 ’s ’s PART taxlaw-2807 933 39 overall overall ADJ taxlaw-2807 933 40 wealth wealth NOUN taxlaw-2807 933 41 . . PUNCT taxlaw-2807 934 1 in in ADP taxlaw-2807 934 2 this this DET taxlaw-2807 934 3 scenario scenario NOUN taxlaw-2807 934 4 , , PUNCT taxlaw-2807 934 5 bill bill PROPN taxlaw-2807 934 6 gates gates PROPN taxlaw-2807 934 7 ’s ’s PART taxlaw-2807 934 8 ring ring NOUN taxlaw-2807 934 9 would would AUX taxlaw-2807 934 10 be be AUX taxlaw-2807 934 11 valued value VERB taxlaw-2807 934 12 at at ADP taxlaw-2807 934 13 a a DET taxlaw-2807 934 14 higher high ADJ taxlaw-2807 934 15 rate rate NOUN taxlaw-2807 934 16 than than ADP taxlaw-2807 934 17 joe joe PROPN taxlaw-2807 934 18 six six NUM taxlaw-2807 934 19 pack's pack's NOUN taxlaw-2807 934 20 — — PUNCT taxlaw-2807 934 21 even even ADV taxlaw-2807 934 22 if if SCONJ taxlaw-2807 934 23 they they PRON taxlaw-2807 934 24 had have VERB taxlaw-2807 934 25 the the DET taxlaw-2807 934 26 same same ADJ taxlaw-2807 934 27 market market NOUN taxlaw-2807 934 28 price price NOUN taxlaw-2807 934 29 . . PUNCT taxlaw-2807 935 1 appendix appendix NOUN taxlaw-2807 935 2 : : PUNCT taxlaw-2807 935 3 asset asset NOUN taxlaw-2807 935 4 distribution distribution NOUN taxlaw-2807 935 5 tables table NOUN taxlaw-2807 935 6 by by ADP taxlaw-2807 935 7 income income NOUN taxlaw-2807 935 8 level level NOUN taxlaw-2807 935 9 2001 2001 NUM taxlaw-2807 935 10 : : PUNCT taxlaw-2807 935 11 demonstrating demonstrate VERB taxlaw-2807 935 12 the the DET taxlaw-2807 935 13 proportional proportional ADJ taxlaw-2807 935 14 holdings holding NOUN taxlaw-2807 935 15 of of ADP taxlaw-2807 935 16 personal personal ADJ taxlaw-2807 935 17 , , PUNCT taxlaw-2807 935 18 investment investment NOUN taxlaw-2807 935 19 and and CCONJ taxlaw-2807 935 20 business business NOUN taxlaw-2807 935 21 asset asset NOUN taxlaw-2807 935 22 classes class NOUN taxlaw-2807 935 23 by by ADP taxlaw-2807 935 24 different different ADJ taxlaw-2807 935 25 groups group NOUN taxlaw-2807 935 26 of of ADP taxlaw-2807 935 27 taxpayers taxpayer NOUN taxlaw-2807 935 28 . . PUNCT taxlaw-2807 936 1 distribution distribution NOUN taxlaw-2807 936 2 of of ADP taxlaw-2807 936 3 all all DET taxlaw-2807 936 4 assets asset NOUN taxlaw-2807 936 5 : : PUNCT taxlaw-2807 936 6 assets asset NOUN taxlaw-2807 936 7 and and CCONJ taxlaw-2807 936 8 liabilities liability NOUN taxlaw-2807 936 9 as as ADP taxlaw-2807 936 10 a a DET taxlaw-2807 936 11 share share NOUN taxlaw-2807 936 12 of of ADP taxlaw-2807 936 13 total total ADJ taxlaw-2807 936 14 assets asset NOUN taxlaw-2807 936 15 by by ADP taxlaw-2807 936 16 percentile percentile ADJ taxlaw-2807 936 17 groups group NOUN taxlaw-2807 936 18 of of ADP taxlaw-2807 936 19 distribution distribution NOUN taxlaw-2807 936 20 of of ADP taxlaw-2807 936 21 wealth wealth NOUN taxlaw-2807 936 22 ( ( PUNCT taxlaw-2807 936 23 % % INTJ taxlaw-2807 936 24 ) ) PUNCT taxlaw-2807 936 25 215 215 NUM taxlaw-2807 936 26 all all DET taxlaw-2807 936 27 0 0 NUM taxlaw-2807 936 28 - - SYM taxlaw-2807 936 29 50 50 NUM taxlaw-2807 936 30 50 50 NUM taxlaw-2807 936 31 - - SYM taxlaw-2807 936 32 90 90 NUM taxlaw-2807 936 33 90 90 NUM taxlaw-2807 936 34 - - SYM taxlaw-2807 936 35 95 95 NUM taxlaw-2807 936 36 95 95 NUM taxlaw-2807 936 37 - - SYM taxlaw-2807 936 38 99 99 NUM taxlaw-2807 936 39 99 99 NUM taxlaw-2807 936 40 - - SYM taxlaw-2807 936 41 100 100 NUM taxlaw-2807 936 42 # # SYM taxlaw-2807 936 43 1 1 NUM taxlaw-2807 936 44 total total ADJ taxlaw-2807 936 45 financial financial ADJ taxlaw-2807 936 46 assets asset NOUN taxlaw-2807 936 47 42.2 42.2 NUM taxlaw-2807 936 48 19.1 19.1 NUM taxlaw-2807 936 49 35.9 35.9 NUM taxlaw-2807 936 50 50.7 50.7 NUM taxlaw-2807 936 51 47.9 47.9 NUM taxlaw-2807 936 52 45.1 45.1 NUM taxlaw-2807 936 53 # # SYM taxlaw-2807 936 54 2 2 NUM taxlaw-2807 936 55 total total NOUN taxlaw-2807 936 56 of of ADP taxlaw-2807 936 57 non non ADJ taxlaw-2807 936 58 - - ADJ taxlaw-2807 936 59 financial financial ADJ taxlaw-2807 936 60 assets asset NOUN taxlaw-2807 936 61 ( ( PUNCT taxlaw-2807 936 62 home home NOUN taxlaw-2807 936 63 equity+ equity+ PUNCT taxlaw-2807 936 64 " " PUNCT taxlaw-2807 936 65 other other ADJ taxlaw-2807 936 66 assets asset NOUN taxlaw-2807 936 67 " " PUNCT taxlaw-2807 936 68 + + CCONJ taxlaw-2807 936 69 investment investment NOUN taxlaw-2807 936 70 real real ADJ taxlaw-2807 936 71 estate estate NOUN taxlaw-2807 936 72 ) ) PUNCT taxlaw-2807 936 73 57.8 57.8 NUM taxlaw-2807 936 74 80.9 80.9 NUM taxlaw-2807 936 75 64.1 64.1 NUM taxlaw-2807 936 76 49.3 49.3 NUM taxlaw-2807 936 77 52.1 52.1 NUM taxlaw-2807 936 78 54.9 54.9 NUM taxlaw-2807 936 79 # # SYM taxlaw-2807 936 80 3 3 NUM taxlaw-2807 936 81 investment investment NOUN taxlaw-2807 936 82 in in ADP taxlaw-2807 936 83 non non ADJ taxlaw-2807 936 84 - - ADJ taxlaw-2807 936 85 residential residential ADJ taxlaw-2807 936 86 real real ADJ taxlaw-2807 936 87 estate estate NOUN taxlaw-2807 936 88 4.2 4.2 NUM taxlaw-2807 936 89 1.6 1.6 NUM taxlaw-2807 936 90 4.2 4.2 NUM taxlaw-2807 936 91 4.7 4.7 NUM taxlaw-2807 936 92 6.1 6.1 NUM taxlaw-2807 936 93 4.6 4.6 NUM taxlaw-2807 936 94 # # SYM taxlaw-2807 936 95 4 4 NUM taxlaw-2807 936 96 investment investment NOUN taxlaw-2807 936 97 in in ADP taxlaw-2807 936 98 residential residential ADJ taxlaw-2807 936 99 real real ADJ taxlaw-2807 936 100 estate estate NOUN taxlaw-2807 936 101 4.7 4.7 NUM taxlaw-2807 936 102 0.5 0.5 NUM taxlaw-2807 936 103 2.3 2.3 NUM taxlaw-2807 936 104 3.7 3.7 NUM taxlaw-2807 936 105 7.1 7.1 NUM taxlaw-2807 936 106 6.5 6.5 NUM taxlaw-2807 936 107 # # SYM taxlaw-2807 936 108 5 5 NUM taxlaw-2807 936 109 investment investment NOUN taxlaw-2807 936 110 in in ADP taxlaw-2807 936 111 the the DET taxlaw-2807 936 112 equity equity NOUN taxlaw-2807 936 113 of of ADP taxlaw-2807 936 114 a a DET taxlaw-2807 936 115 ( ( PUNCT taxlaw-2807 936 116 closely closely ADV taxlaw-2807 936 117 held held ADJ taxlaw-2807 936 118 ) ) PUNCT taxlaw-2807 936 119 business business NOUN taxlaw-2807 936 120 16.9 16.9 NUM taxlaw-2807 936 121 1.1 1.1 NUM taxlaw-2807 936 122 5.6 5.6 NUM taxlaw-2807 936 123 9.5 9.5 NUM taxlaw-2807 936 124 18 18 NUM taxlaw-2807 936 125 33.5 33.5 NUM taxlaw-2807 936 126 distribution distribution NOUN taxlaw-2807 936 127 by by ADP taxlaw-2807 936 128 category category NOUN taxlaw-2807 936 129 # # SYM taxlaw-2807 936 130 6 6 NUM taxlaw-2807 936 131 total total NOUN taxlaw-2807 936 132 of of ADP taxlaw-2807 936 133 investment investment NOUN taxlaw-2807 936 134 assets asset NOUN taxlaw-2807 936 135 ( ( PUNCT taxlaw-2807 936 136 1 1 NUM taxlaw-2807 936 137 + + NOUN taxlaw-2807 936 138 3 3 NUM taxlaw-2807 936 139 + + NOUN taxlaw-2807 936 140 4 4 NUM taxlaw-2807 936 141 ) ) PUNCT taxlaw-2807 936 142 51.1 51.1 NUM taxlaw-2807 936 143 21.2 21.2 NUM taxlaw-2807 936 144 42.4 42.4 NUM taxlaw-2807 936 145 59.1 59.1 NUM taxlaw-2807 936 146 61.1 61.1 NUM taxlaw-2807 936 147 56.2 56.2 NUM taxlaw-2807 936 148 # # SYM taxlaw-2807 936 149 7 7 NUM taxlaw-2807 936 150 total total NOUN taxlaw-2807 936 151 of of ADP taxlaw-2807 936 152 non non ADJ taxlaw-2807 936 153 - - ADJ taxlaw-2807 936 154 business business ADJ taxlaw-2807 936 155 personal personal ADJ taxlaw-2807 936 156 assets asset NOUN taxlaw-2807 936 157 ( ( PUNCT taxlaw-2807 936 158 2 2 NUM taxlaw-2807 936 159 - - SYM taxlaw-2807 936 160 3 3 NUM taxlaw-2807 936 161 - - PUNCT taxlaw-2807 936 162 4 4 NUM taxlaw-2807 936 163 - - SYM taxlaw-2807 936 164 5 5 NUM taxlaw-2807 936 165 ) ) PUNCT taxlaw-2807 936 166 32 32 NUM taxlaw-2807 936 167 77.7 77.7 NUM taxlaw-2807 936 168 52 52 NUM taxlaw-2807 936 169 31.4 31.4 NUM taxlaw-2807 936 170 20.9 20.9 NUM taxlaw-2807 936 171 10.3 10.3 NUM taxlaw-2807 936 172 # # SYM taxlaw-2807 936 173 8 8 NUM taxlaw-2807 936 174 total total NOUN taxlaw-2807 936 175 of of ADP taxlaw-2807 936 176 business business NOUN taxlaw-2807 936 177 assets asset NOUN taxlaw-2807 936 178 ( ( PUNCT taxlaw-2807 936 179 5 5 NUM taxlaw-2807 936 180 ) ) PUNCT taxlaw-2807 936 181 16.9 16.9 NUM taxlaw-2807 936 182 1.1 1.1 NUM taxlaw-2807 936 183 5.6 5.6 NUM taxlaw-2807 936 184 9.5 9.5 NUM taxlaw-2807 936 185 18 18 NUM taxlaw-2807 936 186 33.5 33.5 NUM taxlaw-2807 936 187 total total ADJ taxlaw-2807 936 188 assets asset NOUN taxlaw-2807 936 189 ( ( PUNCT taxlaw-2807 936 190 6 6 NUM taxlaw-2807 936 191 + + NOUN taxlaw-2807 936 192 7 7 NUM taxlaw-2807 936 193 + + NOUN taxlaw-2807 936 194 8) 8) NUM taxlaw-2807 936 195 100 100 NUM taxlaw-2807 936 196 100 100 NUM taxlaw-2807 936 197 100 100 NUM taxlaw-2807 936 198 100 100 NUM taxlaw-2807 936 199 100 100 NUM taxlaw-2807 936 200 100 100 NUM taxlaw-2807 936 201 215 215 NUM taxlaw-2807 936 202 see see NOUN taxlaw-2807 936 203 kennickel kennickel NOUN taxlaw-2807 936 204 , , PUNCT taxlaw-2807 936 205 supra supra PROPN taxlaw-2807 936 206 note note PROPN taxlaw-2807 936 207 114 114 NUM taxlaw-2807 936 208 , , PUNCT taxlaw-2807 936 209 at at ADP taxlaw-2807 936 210 53–55 53–55 NUM taxlaw-2807 936 211 . . PUNCT