Here is the Best Reason for OIRA Review of IRS Tax Rules

Since its inception there has been a  heated debate concerning OIRA review of Treasury Tax rulings. Read the following story from the New York Times; it ends the debate. It  is time that the Biden Administration provide OIRA with the added staff needed to perform the task.

Without taking a position on the facts behind the NY Times story, hopefully the opposition arguments  of the past advanced by the tax bar have been finally laid to rest; there is a definite need for an independent review at Treasury tax rules.

ESG Investing and Fiduciaries—A Forced Marriage?

The Biden Administration is working on a regulation which will reverse a Trump regulation which restricted the ESG program.

The forthcoming Biden regulation is a pacesetter because:

  • It is a formal rulemaking issued by the Department of Labor
  • Virtually  every major player will submit comments, and
  • Most importantly there is a private sector enforcement mechanism which could keep the participants honest.
Private Sector Enforcement Mechanism

Here is the textbook definition of an ESG Investment Fund:

The Ever Increasing Presence of the Misuse of a Kumbaya Based Management Strategy

Our definition of an evolving managerial concept which we characterize as the misuse of a Kumbaya based management strategy is one in which its students are schooled in a peculiar mechanism for solving very difficult problems, namely those where someone is definitely going to be a winner and where someone is definitely going to be a loser, which might best be characterized as sitting in a hot tub, holding hands, singing Kumbaya and smothering dissent by a continuum of  unwarranted compromises.

The Real Innovator Behind the Legalization of Cannabis: Steph Sher

The August/September 2021 issue of Forbes, page 19, contains an interesting article  which identifies eight billionaires  who “have been on the frontiers of the cannabis revolution”. As remarkable as their contribution might be to the cause, the real mover and shaker was then a young demonstrator who was bludgeoned by police during a protest. The actions of Steph Sher are documented in an article published in the Los Angeles Times some sixteen years ago and describes her total commitment to the cause with virtually no compensation.

Two Invisible Aristocracies: Select Federally Sanctioned Attorneys and Economists

The Birth of a Legal Doctrine in the Administrative State

Editor’s Note: Not to single out the activities of the legal profession, it would be interesting if someone would publish a comparable ten sentence description of the activities of the economics profession regarding the operation of the Federal Reserve Board including a continued education  of the public, the Congress and the Administration of the impact of continued deficit financing.

The birth of a legal doctrine often begins when an academician associated with the legal academy has an idea on how to improve the administrative state and publishes it in a journal; a colleague reads it and elaborates on its content. With the passage of time other academicians might endorse the concept.