Under the old tax law, money that scientists received from winning the Nobel Prize (or similar prizes)
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Under the old tax law, money that scientists received from winning the Nobel Prize (or similar prizes) was not taxable. Now it is. Which treatment do you think is appropriate? Under both the old and the new tax laws, money received by lottery winners (as well as gambling receipts) is taxable, but losses are not deductible. Is this fair? What distortions does this introduce?
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The question of whether the treatment of Nobel Prize money and lotterygambling winnings under tax laws is appropriate and fair involves several consid...View the full answer
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Related Book For 
Economics Of The Public Sector
ISBN: 9780393925227
4th Edition
Authors: Joseph E. Stiglitz, Jay K. Rosengard
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