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Calvin H. Johnson

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284:"Determine Dividends by Shareholder Gains, Not Corporate E&P," argues that the current law of dividends, depending on corporate earnings and profits, is dysfunctional and that shareholders need to be allowed recovery of basis not by looking at a corporate account, but only when they have lost basis looking to their own situation. 317:
In "Impost Begat Convention: Albany and New York Confront the Ratification of the Constitution" he argued that the New York debates over ratification of the Constitution were primarily over whether New York State or the National government would get the revenue from the impost on the New York harbor
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His article "Measure Tax Expenditures by Internal Rate of Return", concluded that given the general interest deduction, tax expenditures or tax subsidies need to be measured from a base of reducing internal rate of return by the statutory tax rate. This is the measure both for Samuelson depreciation
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Johnson's primary field is tax law, where he has published over 200 articles. In litigation, Johnson's brief in "Thor Power Tool v. Commissioner" in 1977 appeared to provide the rationale and outline for the Supreme Court's opinion, which held that tax law was not governed by GAAP non-tax accounting
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Johnson has consistently argued for the complete overturning of Pollock v. Farmers' Trust in 1894, where apportionment of direct tax among the states was erroneously used as a killing requirement. In the original meaning, the apportionment of tax by population was intended to measure wealth by the
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Johnson's 2022 piece, "Cut off the Equity Funds," published in Tax Notes Federal, emphasized the need to cut off the extraordinary tax-driven subsidy the Private Equity Funds get on their leveraged buyouts, replacing equity with interest-deductible, high-risk debt. He explained the need to expand
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In 2022, Johnson wrote the article "Interest ceiling must be adjusted basis times interest rate", which argued that to avoid negative tax, better than mere tax exemption, a ceiling on interest deductions equal to taxpayers' adjusted basis in property creditors can reach times the interest rate is
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The 2011 work, "Corporate Meltdowns Caused by Compensatory Stock Options", showed that high officer stock options give an unbudgeted, uncontrolled subsidy for the officers to go into high-risk investments that have a negative expected value, but which enrich the option holders and endanger the
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Later Johnson wrote "A Thermometer for the Tax System: The Overall Health of the Tax System as Measured by Implicit Tax", which showed that the reduction in interest rate generated by the tax exemption on municipal bonds is modest, which demonstrates how ineffective as an incentive device and
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presents an intellectual history of the arguments leading to the adoption of the Constitution. In this book, he argued that the Constitution was written and ratified to create a strong national government with the power to tax to maintain payments to the Dutch on the Revolutionary War debts.
255:"Contributions to Capital from Nonowners," a 2010 article, argued that contributions from nonowners increase the net worth of the corporation and its shareholders and are properly taxed. The article lead Congress to contract the exemption from tax for contributions from nonowners. 314:
contribution to wealth of the labor of its people and to achieve a uniform tax rate on states' wealth. However, when apportionment failed to achieve uniform rates, the Founders strategically clarified the meaning of 'direct tax' to avoid the application of apportionment.
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His "Sola Scriptura: Slavery, Federalism and the Textual Power to Provide for the General Welfare" argued that the Constitution's text grants Congress the authority to use taxation and other necessary and proper means to ensure the common defense and general welfare.
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In "Was it Lost? Personal Deductions under Tax Reform", he contended that personal deductions are legitimate if they represent the loss of standard of living, but not if they are for the purchase of benefits the taxpayer achieves in return.
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Focusing on the necessity to align the adjusted basis with the value set by the smart public market, the paper titled "Fair income tax on the trillion-dollar behemoths" argues for the need to capitalize the costs of intangible investments.
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Johnson led the 'Shelf Project', published by Tax Notes, which created ideas, in the nature of war plans, to enhance the tax base when Congress is ready. The Shelf Project has published 84 ideas and work on the project continues.
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His 1982 paper "Tax Shelter Gain: The Mismatch of Debt and Supply Side Depreciation" explained that the law cannot both allow expensing of equipment and an interest deduction without creating wasteful tax shelter subsidies.
273:"No orchard, no capital gain" argued that, under the original principled conceptual roots of "capital gain," a taxpayer needs to possess a property with the basis for the gain to qualify as capital gain. 144:. His academic tax work has focused on defending the fairness, and efficiency of the tax base. In constitutional history, he relies on the original sources, usually to defend the plenary reach of the 244:
The "Financial Impact of the 1986 Tax Reform Act on Real Estate: A View from the Spreadsheets" showed that the Tax Reform Act of 1986 reduced the value of depreciable real estate by roughly half.
204:. He joined the University of Texas School of Law in 1981 as a professor. He now serves as a John T. Kipp Chair in Business and Corporate Law Emeritus at the University of Texas. 215:, in 2007, a Member of the Academic Advisers on the Overall Health of the Tax System for the Joint Committee on Taxation in 2001, a Dean's Distinguished Visitor at 724: 734: 473:"A Thermometer for the Tax System: The Overall Health of the Tax System as Measured bymplicit Tax, 56 SOUTHERN METHODIST UNIVERSITY L. REV. 13 (2003)" 185: 590: 262:
published a satirical piece running off his argument that computer games like Doom were the most heavily subsidized industry in America.
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Johnson, C. H. (1998). Apportionment of direct taxes: The foul-up in the core of the Constitution. Wm. & Mary Bill Rts. J., 7, 1.
130: 100: 216: 422:"Brief of the Taxation with Representation Fund and the Tax Reform Research Group as Amici Curiae in Support of Respondent" 211:(joint program of Urban Institute and Brookings Institution) in 2011, a visiting professor at the Office of Chief Counsel, 165: 71: 694: 456:"Financial Impact of the 1986 Tax Reform Act on Real Estate: A View from the Spreadsheets, 36 TAX NOTES 309 (1987)" 349:
Johnson, C. H. (1982). Tax Shelter Gain: The Mismatch of Debt and Supply Side Depreciation. Tex. L. Rev., 61, 1013.
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required. In this structure, he wrote, there would be an exception allowed for loan balances reduced by year-end.
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section 279 of the Code to take away the interest deduction on debt incurred to buy back the issuer's own stock.
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Johnson began his academic career in 1975 as an assistant professor, then associate professor at
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in 1971 and practiced with Paul, Weiss, Goldberg, Rifkind, and Garrison in the tax department in
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in 2000, a Member of the IRS Commissioner's Advisory Group in 1989 and a Guest Scholar at The
208: 548: 506: 439:"Tax Shelter Gain: The Mismatch of Debt and Supply Side Depreciation, 61 TEXAS LAW REV. 1013" 75: 605:"Determine Dividends by Shareholder Gains, Not Corporate E&P by Calvin H. Johnson" 708: 181: 407: 173: 169: 84: 337:
Righteous Anger at the Wicked States: The Meaning of the Founders' Constitution
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Righteous Anger at the Wicked States: The Meaning of the Founders' Constitution
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Righteous Anger at the Wicked States: The Meaning of the Founders' Constitution
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for combat in an infantry reconnaissance unit in Vietnam in 1968. He earned a
161: 650:"Apportionment of Direct Taxes: The Foul-Up in the Core of the Constitution" 116: 34: 270:
and in the effective tax rate measure used in the Tax Reform Act of 1986.
633:""The Shelf Project: Revenue-Raising Projects That Defend the Tax Base"" 137: 666: 534: 305:
Johnson has also worked in the area of constitutional law. His book,
126: 122: 51: 47: 604: 576: 129:, and academic. He holds the John T. Kipp Chair Emeritus at the 119: 44: 535:"Corporate Meltdowns Caused by Compensatory Stock Options" 318:
import. He has reviewed books on Constitutional history.
188:, Office of Tax Legislative Council, from 1973 to 1975. 549:"Measure Tax Expenditures by Internal Rate of Return" 591:"Annex and Errata on Ceiling on Interest Deductions" 577:"A Fair Income Tax on the Trillion-dollar Behemoths" 184:from 1971 to 1973. Following this he served in the 96: 91: 67: 62: 40: 30: 23: 248:loophole-ridden America's income tax system is. 8: 507:"'Contributions to Capital' from Nonowners" 521:"Capitalize Costs of Software Development" 136:Johnson's scholarship is in the fields of 20: 16:American tax lawyer, author, and academic 408:"Calvin H Johnson – Faculty – Texas Law" 391:"Madison's Denial by Calvin H. Johnson" 362: 402: 400: 385: 383: 7: 368: 366: 725:Columbia College (New York) alumni 14: 735:University of Texas School of Law 131:University of Texas School of Law 101:University of Texas School of Law 1: 563:"No Orchard, No Capital Gain" 207:Johnson was a Fellow of the 756: 730:Stanford Law School alumni 619:"Cut Off the Equity Funds" 156:Education and early career 339:(2005) ISBN 9780521757522 160:Johnson earned a B.A. in 106: 58: 168:in 1966, and received a 148:. He is the author of 142:Constitutional history 221:Brookings Institution 217:Vanderbilt Law School 374:"Calvin H. Johnson" 178:Stanford Law School 81:Stanford Law School 63:Academic background 301:Constitutional law 198:Rutgers Law School 146:Federal government 344:Selected articles 209:Tax Policy Center 113:Calvin H. Johnson 110: 109: 25:Calvin H. Johnson 747: 715:American lawyers 699: 698: 691: 685: 684: 677: 671: 670: 663: 657: 656: 654: 646: 640: 639: 637: 629: 623: 622: 615: 609: 608: 601: 595: 594: 587: 581: 580: 573: 567: 566: 559: 553: 552: 545: 539: 538: 531: 525: 524: 517: 511: 510: 503: 497: 496: 494: 486: 480: 479: 477: 469: 463: 462: 460: 452: 446: 445: 443: 435: 429: 428: 426: 418: 412: 411: 404: 395: 394: 387: 378: 377: 370: 166:Columbia College 72:Columbia College 21: 755: 754: 750: 749: 748: 746: 745: 744: 705: 704: 703: 702: 693: 692: 688: 679: 678: 674: 665: 664: 660: 652: 648: 647: 643: 635: 631: 630: 626: 617: 616: 612: 603: 602: 598: 589: 588: 584: 575: 574: 570: 561: 560: 556: 547: 546: 542: 533: 532: 528: 519: 518: 514: 505: 504: 500: 492: 488: 487: 483: 475: 471: 470: 466: 458: 454: 453: 449: 441: 437: 436: 432: 424: 420: 419: 415: 406: 405: 398: 389: 388: 381: 372: 371: 364: 359: 346: 333: 328: 303: 294: 234: 229: 194: 158: 79: 26: 17: 12: 11: 5: 753: 751: 743: 742: 737: 732: 727: 722: 717: 707: 706: 701: 700: 686: 672: 658: 641: 624: 610: 596: 582: 568: 554: 540: 526: 512: 498: 481: 464: 447: 430: 413: 396: 379: 361: 360: 358: 355: 354: 353: 350: 345: 342: 341: 340: 332: 329: 327: 324: 302: 299: 293: 290: 233: 230: 228: 225: 193: 190: 157: 154: 108: 107: 104: 103: 98: 94: 93: 89: 88: 69: 65: 64: 60: 59: 56: 55: 54:, and academic 42: 38: 37: 32: 28: 27: 24: 15: 13: 10: 9: 6: 4: 3: 2: 752: 741: 740:Living people 738: 736: 733: 731: 728: 726: 723: 721: 718: 716: 713: 712: 710: 696: 690: 687: 682: 676: 673: 668: 662: 659: 651: 645: 642: 634: 628: 625: 620: 614: 611: 606: 600: 597: 592: 586: 583: 578: 572: 569: 564: 558: 555: 550: 544: 541: 536: 530: 527: 522: 516: 513: 508: 502: 499: 491: 485: 482: 474: 468: 465: 457: 451: 448: 440: 434: 431: 423: 417: 414: 409: 403: 401: 397: 392: 386: 384: 380: 375: 369: 367: 363: 356: 351: 348: 347: 343: 338: 335: 334: 330: 325: 323: 319: 315: 311: 308: 300: 298: 292:Shelf project 291: 289: 285: 282: 278: 274: 271: 267: 266:corporation. 263: 261: 258:In 2011, the 256: 253: 249: 245: 242: 238: 231: 226: 224: 222: 218: 214: 210: 205: 203: 199: 191: 189: 187: 186:U.S. Treasury 183: 182:New York City 179: 175: 171: 167: 163: 155: 153: 151: 147: 143: 139: 134: 132: 128: 124: 121: 118: 114: 105: 102: 99: 95: 92:Academic work 90: 86: 82: 77: 73: 70: 66: 61: 57: 53: 49: 46: 43: 41:Occupation(s) 39: 36: 33: 29: 22: 19: 689: 675: 661: 644: 627: 613: 599: 585: 571: 557: 543: 529: 515: 501: 484: 467: 450: 433: 416: 336: 326:Bibliography 320: 316: 312: 306: 304: 295: 286: 283: 279: 275: 272: 268: 264: 259: 257: 254: 250: 246: 243: 239: 235: 206: 195: 174:Juris Doctor 170:Purple Heart 159: 149: 135: 112: 111: 97:Institutions 18: 720:Tax lawyers 31:Nationality 709:Categories 357:References 162:Philosophy 223:in 1980. 68:Education 227:Research 117:American 35:American 237:rules. 232:Tax law 138:tax law 202:Newark 192:Career 127:author 123:lawyer 115:is an 52:author 48:lawyer 653:(PDF) 636:(PDF) 493:(PDF) 476:(PDF) 459:(PDF) 442:(PDF) 425:(PDF) 331:Books 260:Onion 176:from 164:from 140:and 213:IRS 120:tax 45:Tax 711:: 399:^ 382:^ 365:^ 200:, 152:. 133:. 125:, 85:JD 76:BA 50:, 697:. 683:. 669:. 655:. 638:. 621:. 607:. 593:. 579:. 565:. 551:. 537:. 523:. 509:. 495:. 478:. 461:. 444:. 427:. 410:. 393:. 376:. 87:) 83:( 78:) 74:(

Index

American
Tax
lawyer
author
Columbia College
BA
Stanford Law School
JD
University of Texas School of Law
American
tax
lawyer
author
University of Texas School of Law
tax law
Constitutional history
Federal government
Philosophy
Columbia College
Purple Heart
Juris Doctor
Stanford Law School
New York City
U.S. Treasury
Rutgers Law School
Newark
Tax Policy Center
IRS
Vanderbilt Law School
Brookings Institution

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