The Missing T: Part II
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Is the current corporate tax system fair, or does it enable companies to exploit legal loopholes while sidelining essential societal goals? Today, we continue our in-depth discussion on tax within the Environmental, Social, and Governance (ESG) space, delving into the intricacies of corporate tax with Seth Piken. Seth is tax counsel at Ropes & Gray, specializing in corporate and international tax law. In our conversation, we discuss the fairness of the current tax regime, examine whether it’s the best mechanism to drive ESG initiatives, and debate if ESG ratings should influence corporate tax rates. Explore the potential challenges posed by additional ESG-related taxes, the tension between ESG principles and the traditional goal of wealth maximization, and the effectiveness of the proposed ESG-tax framework in achieving its intended impact. Join us as we tackle the broader societal implications of higher corporate taxes, the complexities of fairly administering tax rates within an ESG framework, the global taxation system, and much more. Tune in now!
Key Points From This Episode:
- Introducing our special guest and corporate tax law specialist, Seth Piken.
- A brief recap of the previous episode and its main takeaways surrounding tax.
- Seth shares his thoughts on companies exploiting legal tax loopholes.
- Background about the corporate tax regime and why companies should pay tax.
- Alternative ways of using the existing tax system to enhance the ESG space.
- Justifications for why corporations should not have to pay more tax.
- Seth explains why corporations sometimes pay lower taxes than expected.
- Uncover common misconceptions surrounding corporate tax rates.
- Find out why increasing tax will result in lower contributions to the ESG movement.
- The complexities of including corporate tax within the ESG rating system.
- Learn why Warren Buffet’s recent remarks regarding taxes were misleading.
- What Seth liked about the Missing T article, and the idea of including ESG within corporate tax.
Links Mentioned in Today’s Episode:
Episode 50 - The Missing T: Part I
Danielle Chaim at Bar-Ilan University
Gideon Parchomovsky at University of Pennsylvania Carey Law School
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