RETHINKING THE TAX TREATMENT OF HIGHER EDUCATION EXPENDITURES: AN ARGUMENT FOR COST RECOVERY THROUGH AMORTIZATION MICHAEL HACKERt
I. II.
INTRODUCTION .................. HIGHER EDUCATION AND THE MODERN ECONOMY
A. B. TH.
B. C.
VI.
Taxing Knowledge...................... .............. A ProgressiveDiscovery of Our Own Ignorance: MaintainingProgressivityin an EducationExpenditure Deduction................1.....................1
CURRENT TAX TREATMENT OF HIGHER EDUCATION EXPENDITURES .............................................
A.
V.
College Degrees: A Costly but Worthwhile Investment........... 5 Efforts to EncourageHigherEducation and Offset AssociatedCosts......................... 7
TAXING HUMAN CAPITAL, EQUITY IN TAXATION, AND MAINTAINING PROGRESSWITY.. ..........................
A. B. IV.
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BlurredLines: The Code's Distinction-OrLack ThereofBetween Business and PersonalExpenses................ 12 Business or Pleasure? The Code's Denialof an Education Expenditure Deduction.............. .............. 15 EnsuingBenefits and Future Impacts: The Code's Denial of Cost Recovery of EducationExpenditures Through Amortization .......... 20
MAKING THE CASE FOR AN AMORTIZED HIGHER EDUCATION EXPENDITURE PARTIAL DEDUCTION.......................... 23 CONCLUSION .................... 29
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