Issue
Essentially, therefore, the question in Macomber was not whether the shareholder had gain in an economic sense, but whether in legal or accounting terms the stock dividend was to be regarded as a taxable event. ... Stripped of its Constitutional element, the issue in Eisner v. Macomber in the end comes down to a "battle of similarities." Is a stock dividend (as the majority held) "more like" a situation in which a corporation simply accumulates its earnings and makes no distribution at all? Or is it (as Brandeis thought) "more like" the receipt of a cash dividend which is followed by a reinvestment of the cash received in additional shares? —Marvin Chirelstein, Federal Income Taxation, A Law Student's GuideRead more about this topic: Eisner V. Macomber
Famous quotes containing the word issue:
“Your child...may not call you or other people names.... Don’t be tempted to gloss over this issue. You may be able to talk to yourself into not minding being called names, but this decision may come back to haunt you in later years. If you let a preschooler speak disrespectfully to you now, you’ll have a much harder time of it when your child is a preteen and the issue resurfaces, which it is likely to do then.”
—Lawrence Balter (20th century)
“Because of these convictions, I made a personal decision in the 1964 Presidential campaign to make education a fundamental issue and to put it high on the nation’s agenda. I proposed to act on my belief that regardless of a family’s financial condition, education should be available to every child in the United States—as much education as he could absorb.”
—Lyndon Baines Johnson (1908–1973)
“Modern equalitarian societies ... whether democratic or authoritarian in their political forms, always base themselves on the claim that they are making life happier.... Happiness thus becomes the chief political issue—in a sense, the only political issue—and for that reason it can never be treated as an issue at all.”
—Robert Warshow (1917–1955)