The NY Billionaire Mark-to-Market Tax Act: Revenue, Economic, and Constitutional Analysis

7 Pages Posted: 17 Feb 2021

See all articles by David Gamage

David Gamage

Indiana University Maurer School of Law

Emmanuel Saez

University of California, Berkeley

Darien Shanske

University of California, Davis - School of Law

Date Written: January 15, 2021

Abstract

As legal and economic scholars from across the nation, we write to express our support for the New York Billionaire Mark-to-Market Tax Act ( S8277A / A10414 ) ā€” the surest and fastest way to fill New York stateā€™s ballooning deficit and ensure safety and security for all its residents.

This report consists of revenue, economic, and constitutional analysis of the New York Billionaire Mark-to-Market Tax Act, by the authors, as well as a cover letter to NY Governor Cuomo, Speaker Stewart-Cousins, and Speaker Heastie, also written by the authors, and signed onto by all of:
Amitava Dutt, Notre Dame University, Professor of Economics
Brian Galle, Georgetown University, Professor of Law
Calvin Johnson, University of Texas-Austin, Professor of Law
Cristobal Young, Cornell University, Professor of Sociology
Daniel Hemel, University of Chicago, Professor of Law
Daniel Markovits, Yale University, Professor of Law
Daniel Shaviro, New York University, Professor of Law
David Abraham, University of Miami, Professor of Law
David Hasen, University of Florida, Professor of Law
Edward Wolff, New York University, Professor of Economics
Erin Scharff, Arizona State University, Professor of Law
Ethan Kaplan, University of Maryland, Professor of Economics
Gabriel Mathy, American University, Professor of Economics
Gabriel Zucman, University of California Berkeley, Professor of Economics
Gerald Epstein, University of Massachusetts-Amherst, Professor of Economics
Gladriel Shobe, Brigham Young University, Professor of Law
Goldburn Maynard Jr., Indiana University, Professor of Law
Hal Salzman, Rutgers University, Professor of Public Policy
Herbert Gintis, University of Massachusetts-Amherst, Professor of Economics
Irene Hueter, Columbia University, Professor of Statistics
James Boyce, University of Massachusetts-Amherst, Professor of Economics
Jay Soled, Rutgers University, Professor of Taxation
Jennifer Bird-Pollan, University of Kentucky, Professor of Law
John Brooks, Georgetown University, Professor of Law
Julie Nelson, University of Massachusetts-Boston, Professor of Economics
Kathleen Delaney Thomas, University of North Carolina, Professor of Law
L. Randall Wray, Bard College, Professor of Economics
Lawrence Mishel, Economic Policy Institute, Economist
Lawrence Peter King, University of Massachusetts-Amherst, Professor of Economics
Linda J. Bilmes, Harvard University, Professor of Public Policy
Manoj Viswanathan, University of California Hastings, Professor of Law
Mark Setterfield, The New School For Social Research, Professor of Economics
Marlene Kim, University of Massachusetts-Boston, Professor of Economics
Maurice Stucke, University of Tennessee, Professor of Law
Mitchell Kane, New York University, Professor of Law
Neil Buchanan, University of Florida, Professor of Law
Patricia Cain, Santa Clara University, Professor of Law
Peter Skott, University of Massachusett-Amherst, Professor of Economics
Phillip Moss, University of Massachusetts-Lowell, Professor of Economics
Sanjukta Paul, Wayne State University, Professor of Law
Steven Fazzari, Washington University in St. Louis, Professor of Economics
Talha Syed, University of California Berkeley, Professor of Law
Thomas Herndon, Loyola Marymount University, Professor of Economics
Thomas Masterson, Bard College, Professor of Economics
Thomas Piketty, Paris School of Economics, Professor of Economics
Vamsicharan Vakulabharanam, University of Massachusetts-Amherst, Professor of Economics
William Lazonick, University of Massachusetts, Professor of Economics

Suggested Citation

Gamage, David and Saez, Emmanuel and Shanske, Darien, The NY Billionaire Mark-to-Market Tax Act: Revenue, Economic, and Constitutional Analysis (January 15, 2021). Indiana Legal Studies Research Paper Forthcoming, Available at SSRN: https://ssrn.com/abstract=3766547 or http://dx.doi.org/10.2139/ssrn.3766547

David Gamage (Contact Author)

Indiana University Maurer School of Law ( email )

211 S. Indiana Avenue
Bloomington, IN 47405
United States

HOME PAGE: http://www.law.indiana.edu/about/people/bio.php?name=gamage-david

Emmanuel Saez

University of California, Berkeley ( email )

310 Barrows Hall
Berkeley, CA 94720
United States

Darien Shanske

University of California, Davis - School of Law ( email )

400 Mrak Hall Dr
Davis, CA CA 95616-5201

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