LDS NewsroomEconomics – Law – Philosophy – etc.
ABC broke the news: Mitt Romney has donated millions of dollars worth of stock to the Mormon church. SEC filings disclose that a Bain partner donated $1.9 million of Burger King stock to the Church; in addition, the Church has received stock of other Bain holdings, including Domino's, DDi, Innophos, and the parent company of AMC Theaters. But why? Why would Romney give the Church equity stakes in bad fast-food chains, second-rate pizza chains, and other such holdings? Read more »
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***WARNING: This post mentions sex. I use the word a lot in this post. If that makes you uncomfortable, this may not be the post for you.*** Over the summer, the Bloomberg administration announced that, for the first time in two decades, public school students in New York would be required to take sex-ed. The curriculum the administration recommended---HealthSmart (middle school and high school) and Reducing the Risk---include, among other things, lessons on abstinence and birth control. Read more »
Hypothetical: Alex and Pat both want a Kindle Fire. Alex goes to the local brick-and-mortar Amazon store, pays $200 cash, and takes a Kindle Fire home. Pat goes to the bank, gets a loan for $200, goes to the local brick-and-mortar Amazon store, pays the $200, and takes a Kindle Fire home. Who made the better decision? *** In the Church, we’re suspicious of debt. Sure, we get a pass on student loans, a modest house, a first car, but, as a general rule, our leaders discourage incurring consumer debt, and celebrate those who have escaped debt’s clutches. Having... Read more »
I can’t speak to your experience. I can’t speak even to my own. But I’ll tell a story. I remember the day and time and place that I stopped believing in God, but not the date. 5 people like this post. Like Unlike Read more »
The Catholic church, that is. Read more »
The Atlantic Cities, currently one of my favorite sites, has, over the last several days, run a series looking into the best states for working women (both generally and in the "creative class"). What leaped out at me: Utah's a pretty bad place to be a working woman. Read more »
I had a university professor who lived in Iran and ran a television program dedicated to classical Persian music prior to the Islamic revolution. He spent a lot of time during the seventies crossing sketchy borders into various ‘Stans. One of his tools for successful border crossing (not to mention survival) was a pamphlet he wrote himself, highlighting similarities between Mormons and Muslims; things like a founding prophet, directly revealed scripture, fasting, and polygamy. I was intrigued by his comparisons, and this class was one of the many things that prompted me to study Arabic and learn more about Islam.... Read more »
No, today isn’t a national holiday. It’s not any particular religious festival. We’re more than a week away from Halloween, a month from Thanksgiving, and a couple months from Christmas. The only reason you have today off (assuming you have today off) is because today is Saturday. And yet . . . On October 22, 1986, President Ronald Reagan signed into law the Tax Reform Act of 1986, a bipartisan bill. That law, signed 25 years ago today, was the last fundamental tax reform in which the U.S. has engaged. Among other things, it broadened the tax base, reduced... Read more »
Joseph Spencer is indispensable. He is the “not-thoughtless” and the “never-glosses-over.” 1 person likes this post. Like Unlike Read more »
Yesterday, as Marc pointed out, Elder Oaks testified in front of the Senate Finance Committee in favor of the deduction for charitable giving. He argued that the charitable deduction is vital to the nation’s welfare. Why, though, these hearings on the charitable deduction? Is it under attack? In case you haven’t been following the politics of tax and budgeting recently (of course, who hasn’t?), I thought I’d provide a little background to the hearing. The Deduction for Charitable Donations The charitable deduction is an itemized deduction (more on that later). It’s one of the older deductions in the tax... Read more »
For those interested, Elder Dallin H. Oaks is testifying right now before the Senate Finance Committee on tax reform, specifically incentives for charitable giving. He is testifying at the request of Senator Hatch. 1 person likes this post. Like Unlike Read more »
On Sunday, as we luxuriated in General Conference (however we followed it), we missed an annual tradition: Pulpit Freedom Sunday. A quick background on Pulpit Freedom Sunday: on July 2, 1954, Lyndon Johnson proposed that Section 501(c)(3) (the Internal Revenue Code section that exempts, among other things, churches, universities, and the NCAA from tax) be amended to prevent exempt organizations from campaigning on behalf of or against candidates for office. There’s no legislative history, and, in fact, no record of the voice vote on the amendment. But it passed. Note, though, that the prohibition wasn’t particularly aimed at churches;... Read more »
The Church cares about taxes. It doesn’t really seem to care about the details of tax policy, of course. I’ve never seen the Church weigh in on the appropriate tax rate, tax base, or even the appropriate type(s) of tax (e.g., an income or consumption tax, a retail sales tax or a VAT, or whatever) a government should impose. But still, it makes explicit and implicit nods that indicate that, ultimately, it cares both about its tax position and that of its members. The Church and (Its) Taxes Like (essentially) every other church in the U.S., the LDS church is... Read more »
The following is a modified excerpt from my presentation at Sunstone this summer. We live, not only in a capitalist, but a consumerist, society. Our society is all about spending, acquiring, cluttering, and replacing, not about maintaining, restoring, renewing, and protecting. It is cheaper to buy new than to repair old. We live in a disposable country, where everything is trash, if not now, then soon. How did we get here? One of the best explanations I’ve found is in the work of the social theorist Max Weber (1). He examined the correlation between the Protestant religious belief and... Read more »
A comically involved, complicated invention, laboriously contrived to perform a simple operation. —“Rube Goldberg,” Webster’s New World Dictionary Be the first to like. Like Unlike Read more »
The 2010 poverty level in the U.S., we learned on Tuesday, is the highest it has been since 1993. In 2010, about one in six Americans lived below the poverty line. In June, 14.6% of Americans received food stamps. To some extent, the high poverty rate is probably related to the high unemployment rate, which was 9.1% in August. I throw out all of these numbers to suggest that, as a society, we have a problem. That problem needs to be fixed. And we, as Mormons, undoubtedly have something that we can bring to the discussion of how to... Read more »
Recently, we’ve seen some distrust of religions that advocate social justice, from sources as diverse as the political punditry and lay Mormons. The criticism is unfounded, of course, and strikes me as ahistorical and anti-Catholic. The term “social justice” comes from 1840, when the Jesuit scholar Luigi Taparelli as he worked through the philosophy of Thomas Aquinas. As you look at Jesuit schools’ mission statements, you begin to understand how central social justice is to the Jesuit identity. I teach at a Jesuit law school. Part of our mission is to “prepare graduates who will be ethical advocates for justice and... Read more »
(Note: this is the fourth part of a several-part series. You can read previous installments here, here, and here.) Quick review: prior to November 1990, missionaries and their families paid the actual cost of their missions. Moreover, parents would send money directly to their sons and daughters, with no intermediation from the Church. In May 1990, the U.S. Supreme Court ruled in Davis v. United States that such payments were not tax-deductible, notwithstanding language in the Internal Revenue Code that contributions made “to or for the use of” the Church would be deductible. In November 1990, the Church announced... Read more »
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Pop quiz: when you think “Mormons” and “US Supreme Court,” what do you think? (The correct answer is, of course, Reynolds.) For many of us, though, another... Read more »
Criticisms of the Book of Mormon generally fall into one of two categories: objections to its historical claims on the one hand, and on the other critiques of its literary style. The two prongs are often combined in a single attack, for instance in the suggestion that the awkward style of the book reflects the naïve voice of an unlettered youngster. For their part, the book’s defenders also tend to elide the two categories, arguing that passages of inelegant prose are better understood as latent Hebraisms laboring under English syntax. Most of the time, of course, devout readers of... Read more »
In his talk at the close of the April 2008 General Conference, President Monson talked about the blessing we had received, both as members of the Church and, specifically, over the course of the conference. He ended his talk with counsel: parents are to love and cherish their children, youth are to keep the commandments, those who can attend the temple should, and we should all be aware of each other’s needs. But what if, in closing his remarks, President Monson had said, “My dear brothers and sisters, I feel strongly that Mitt Romney is the best person to... Read more »
In light of the Church’s recent policy statement banning some Church authorities from endorsing candidates, and the speculation that the Church’s political neutrality derives from its desire to stay tax-exempt, I thought I’d present a brief primer on the tax exemption. The Revenue Act of 1894 probably represents the birth of the modern federal income tax. An inauspicious birth, to be sure–it was struck down as unconstitutional in 1895–but the birth, nonetheless. True, it was enacted 19 years before the 16th Amendment permitted direct taxation (whatever that is), but it set the stage for the income tax to come.... Read more »
Governments impose taxes in order to raise revenue that, in turn, funds government function and services. In designing a tax system, tax theorists generally try to create provisions that will raise revenue without significantly altering taxpayers’ economic choices. That is, ideally, taxpayers will act in approximately the same way as they would have in a world without tax. But we can’t hit the ideal. The income tax alters people’s actions, because it alters the price calculus. One way is in our work-leisure decisions. Assume with me that I earn $10 an hour. That said, I enjoy not working, too–my... Read more »
Part of my job as a law professor is to model to students what a transactional attorney does. As part of that, I include in my syllabus a list of things media that they ought to consume in order to understand the world a business lawyer functions in. The list is not exhaustive, by any means, nor should they necessarily read or listen to all of it, but it provides a slice of intelligent commentary on the world I’m teaching them how to enter. If you were preparing people to do what you do, what resources would you recommend?... Read more »
Times & Seasons is excited to introduce Sam Brunson as our latest guest blogger. Sam grew up in the suburbs of San Diego and served a Brazilian mission what seems like a millennium ago. He went to BYU as an undergrad and found that a freshman saxophone performance major made his eventual English major look like a practical choice. After toying with teaching critical theory or becoming an author, he did what all good English majors do and chose law school. At Columbia, he met his wife, got a degree, and got a job as a tax associate... Read more »
One last post about Jim Faulconer’s Faith, Philosophy, Scripture (Maxwell Institute, 2010). The final chapter is entitled “Breathing” and is a meditation on Romans 8. Be the first to like. Like Unlike Read more »
Zion is the world ajar. Zion is the world set on a double hinge. God gives a push, the door goes swinging, and the world opens wide. 4 people like this post. Like Unlike Read more »
It’s Easter and I, like Mary, have a hard time seeing what’s right in front of me. 3 people like this post. Like Unlike Read more »
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