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"The Hill" featured Lubin Professor Philip G. Cohen's opinion piece in "Tax reform postmortem reveals lethal dose of crony capitalism"

05/22/2018

"The Hill" featured Lubin Professor Philip G. Cohen's opinion piece in "Tax reform postmortem reveals lethal dose of crony capitalism"

Philip G. Cohen is an associate professor of taxation at Pace University Lubin School of Business and a retired vice president – tax and general tax counsel at Unilever United States, Inc. The views expressed herein do not necessarily represent those of any organization to which the author is or was associated with.

On Wednesday, the House Ways and Means Committee held a hearing regarding the impact of P.L. 115-97, informally referred to as the Tax Cuts and Jobs Act (TCJA) enacted in December 2017.

While Chairman Kevin Brady (R-Texas) undoubtedly viewed this as an opportunity for a curtain call, TCJA is a poster child for poorly conceived, incredibly complex (even for a tax act) partisan legislation enacted without due deliberation, that will exacerbate the deficit and undoubtedly further drive good jobs and income off-shore.

It also punished blue states like New York, New Jersey and California by capping the itemized deduction for all state taxes at a mere $10,000, but managed to reduce the top individual tax rate from 39.6 percent to 37 percent.

Even Sen. Bob Corker (R-Tenn.), who voted for TCJA, has expressed regrets when faced with a Congressional Budget Office estimate that TCJA will increase the federal budget deficit by $1.85 trillion in 2018-2028. Sen. Corker stated, "If it ends up costing what has been laid out here, it could well be one of the worst votes I've made."

Another TCJA supporter, Sen. Marco Rubio (R-Fla.), also articulated remorse over TCJA, albeit for a different reason: "They [big corporations with the tax cuts] bought back shares; a few gave out bonuses; there's no evidence whatsoever that the money's been massively poured back into the American worker." 

This latter comment was reinforced by a survey of economists by the National Association for Business Economics, which found that "two-thirds of business economists [indicated that] the 2017 tax law isn't changing their firms' and industries hiring or investment plans."

While there was somewhat widespread belief that the pre-TCJA top corporate statutory rate of 35 percent needed to be reduced, what was the rationale for slashing the rate to 21 percent?

Furthermore, why was untaxed pre-TCJA offshore earnings of U.S. multinationals only taxed at rates of 15.5 percent for cash and cash equivalents and 8 percent for other assets, coupled with the tax being spread over eight years and heavily back-loaded? 

In addition, why has the nation's tax laws moved in the direction of quasi-territoriality, wherein most foreign-sourced dividends received by 10 percent or more domestic corporate shareholders will get 100 percent dividends received deduction, i.e., they pay no federal income tax.

The answer to all three questions is that this was a pay-off to major campaign contributors, where their interests prevailed over those of the nation.

Read the full article.

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"El Diario" featured Pace University's President Marvin Krislov's piece in "Deberíamos encontrar un camino que sea incluyente, justo y beneficioso para los Dreamers y el país"

05/21/2018

"El Diario" featured Pace University's President Marvin Krislov's piece in "Deberíamos encontrar un camino que sea incluyente, justo y beneficioso para los Dreamers y el país"

El día de la decisión acaba de pasar. El primero de mayo es la época del año en el que la mayoría de los estudiantes del último año de la escuela secundaria deben decidir dónde planean inscribirse en el otoño. Para la mayoría de los estudiantes, es un momento para relajarse después de todas las tensiones del proceso de solicitud de la universidad. Pero para un grupo – los 700,000 jóvenes traídos a Estados Unidos cuando eran niños y protegidos por el programa de Acción Diferida para los Llegados en la Infancia o DACA, llamados Dreamers – la angustia no tiene fin.

Tres cortes federales han impedido que la administración de Trump detenga el programa, y ​​a principios de este año la Corte Suprema permitió que esas sentencias fueran válidas. Pero el Congreso y la Administración no han podido llegar a un acuerdo sobre su futuro, y un nuevo caso en Texas amenaza con llevar a DACA a la Corte Suprema. Mientras tanto, estos estudiantes están atascados en el limbo, protegidos por el momento, pero sin sentirse seguros de cuánto durará y, lo que es peor, no serán elegibles para los programas federales de ayuda financiera. Los programas de ayuda estatales y universitarios varían.

En Pace, estamos, como siempre lo hemos estado, dedicados a proporcionar acceso al poder de la educación para estudiantes de todos los orígenes. Valoramos a los estudiantes inmigrantes y les proporcionamos ayuda financiera, que incluye ayuda basada en méritos para Dreamers.

En un momento en que otros países están incrementando su gasto en I+D e invirtiendo cada vez más en estudiantes de STEM, los inmigrantes proveen algunos jóvenes altamente educados y ambiciosos que necesitamos para cubrir los empleos de hoy. Inyectan talento y emprendedor. Ayudan a expandir nuestra economía; en general, los inmigrantes no quitan empleos, porque no es una pregunta de suma cero. Mantienen a los Estados Unidos competitivo a nivel internacional. Y aunque los estudiantes internacionales obtienen casi la mitad de los títulos de ingeniería y ciencias de la computación de los Estados Unidos, esos números se están reduciendo. Necesitamos hacer que estos estudiantes sean más bienvenidos, no menos.

Más allá de eso, en un momento en que los negocios son globales, un cuerpo estudiantil compuesto por muchas culturas y nacionalidades ayuda a todos los estudiantes a aprender cómo operar en una economía global. Este tipo de exposición y comprensión es una parte central de la educación actual. Incluso si un estudiante que se gradúa en la fuerza de trabajo esta primavera no sale de los Estados Unidos por el resto de su vida, todavía tendrá que tratar con clientes internacionales, proveedores internacionales o la cadena de suministro global en algún momento de su vida profesional. Los inmigrantes ayudan a preparar a sus compañeros estudiantes para el lugar de trabajo de hoy en día.

Pace se fundó hace más de un siglo como una escuela de contabilidad, para ayudar a aspirantes estudiantes de negocios a abrirse paso en la clase media. Nuestros campos de instrucción se han expandido; hoy estamos desarrollando enfermeras y asistentes de médicos, desarrolladores de aplicaciones y expertos en ciberseguridad, educadores y abogados, actores y escritores, y, sí, aún muchos contadores, pero nuestra misión sigue siendo la misma. Brindamos acceso a una educación de calidad para jóvenes ambiciosos, independientemente de su origen. Pace no pregunta sobre el estado de inmigración de los posibles estudiantes o sus padres, pero sabemos que casi la mitad de los estudiantes de primer año de este 2018 dicen que son los primeros en sus familias en asistir a la universidad.

Un estudio del Departamento de Educación de Estados Unidos encontró que los estudiantes inmigrantes de primera generación representan el 13.5 por ciento de los estudiantes universitarios en el estado de Nueva York, y los inmigrantes de segunda generación representan otro 22 por ciento. Eso significa que más de un tercio de los estudiantes de pregrado del estado son estudiantes inmigrantes, y eso no incluye a los inmigrantes indocumentados. Además, el Departamento de Seguridad Nacional dice que más de 43,000 Dreamers han solicitado y han sido aprobados para DACA en el estado de Nueva York. El Instituto de Políticas de Migración calcula que el 25 por ciento de ellos cursó estudios superiores, lo que significa que hay alrededor de 11,000 Dreamers en las facultades y universidades de Nueva York.

Veo lo que los estudiantes y ex alumnos inmigrantes de Pace pueden lograr. Veo lo que Dreamers at Pace puede lograr. Pienso en Lisdy Contreras-Giron, una estudiante de Pace que “salió” como Dreamer luego de que el presidente Trump anunció su decisión de finalizar el programa en septiembre del año pasado. “Cuando elijo salir, es porque estoy orgullosa”, dijo en un evento universitario. “Ser una Dreamer, como somos identificados, no es solo ser un soñador. Somos tus vecinos, somos iguales, somos tus compañeros de clase, somos niñeras de tus hijos, tus enfermeras”.

Al igual que los mejores estudiantes de Pace, Lisdy es inteligente, esforzada y ambiciosa. Ella es una valiosa incorporación a la comunidad de Pace, y es una valiosa incorporación a este país. Necesitamos estudiantes como ella, tanto Dreamers como inmigrantes, y el país también los necesita. Esperemos que el Congreso y el Presidente puedan usar el tiempo otorgado por la decisión de la Corte Suprema esta semana de encontrar un camino que sea incluyente, justo y beneficioso, no solo para los Dreamers sino también para el país.

-Marvin Krislov es el presidente de Pace University

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"Hit 107" featured Dyson Professor K. Mark Sossin in "A Baby Spa Has Opened Up & Mums Swear It Helps Their Babies Sleep Better!"

05/17/2018

"Hit 107" featured Dyson Professor K. Mark Sossin in "A Baby Spa Has Opened Up & Mums Swear It Helps Their Babies Sleep Better!"

Any parent knows how hard it is to try and get their baby to just calm down and relax.

Being a parent is a stressful job and trying to get babies to sleep is one of the most common issues new parents have, but now there's a cure for that!

A new day spa for babies has opened on the Gold Coast and new mums swear by it!

The spa is called My Baby Bubble Spa and it offers hydrotherapy and full body massages for babies to help them sleep!

7 News went in and interviewed a few mums who are regulars at the new spa and one mum said that she actually had to wake her child up for a feeding session because they were sleeping so soundly!

Apparently, "movement through the water has a positive effect on the digestive and circulatory systems, which can reduce meconium levels and lowers the risk of jaundice three or four days after birth.

"Subtle water pressure on the chest can increase lung capacity by strengthening intercostal muscles and the respiratory system."

K. Mark Sossin, PhD, director of the Parent-Infant Research Nursery at Pace University, in New York City says that giving babies regular massages actually "help you learn how to read your baby's signals and respond better to his unique needs."

Would you send your baby to a baby day spa?

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"Radio New Zealand" featured Dyson Professor Matthew Bolton in "More needs to be done to help those affected by nuclear testing - academic"

05/17/2018

"Radio New Zealand" featured Dyson Professor Matthew Bolton in "More needs to be done to help those affected by nuclear testing - academic"

An academic who was part of a Nobel Prize-winning campaign for a treaty against nuclear weapons says more needs to be done to help those dealing with the lingering effects of nuclear weapons testing.

Matthew Bolton, who is the director of the International Disarmament Institute at New York's Pace University, says the United Nations Treaty on the Prohibition of Nuclear Weapons requires rehabilitation and support for those affected.

The treaty was signed by 122 countries last year, but none of the nuclear countries - including those who tested in the Pacific - have joined the treaty.

Dr Bolton recently traveled to Kiritimati Island, where the British tested nuclear weapons, and says people are dealing with health and psychological effects from the tests - but have received little support.

He told Jamie Tahana that with the countries that dropped the bombs doing nothing, other countries should fill the void.

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"Newsweek" featured Dyson Professor Matthew Bolton in "Did Trump Break the Law? U.S. Leaves Iran Deal, Violates World Order and Risks War, Experts Say"

05/10/2018

"Newsweek" featured Dyson Professor Matthew Bolton in "Did Trump Break the Law? U.S. Leaves Iran Deal, Violates World Order and Risks War, Experts Say"

...Matthew Bolton (no relation), a professor of political science at New York–based Pace University, emphasized the dangerousness of Trump's decision, not only with regard to U.S.-Iran relations but also the global nuclear nonproliferation trend. He expressed concern that the U.S. would break with the vast majority of world opinion to walk away from a deal that prevented Iran from attaining a nuclear weapon.

"This is really actually going to anger a lot of countries," Bolton told Newsweek. "In international law, it is a custom that you keep your word. This is a violation of the international norm."

He continued: "When a country goes outside the norm, it essentially makes their diplomacy more expensive."

Both Sadat and Bolton agreed that the U.S. had likely violated United Nations Security Council resolution 2231, which bound all countries to abide by the JCPOA in July 2015. Shortly after Trump's announcement, Iranian Foreign Minister Mohammad Javad Zarif, who helped Rouhani negotiate the deal, blasted the "U.S. persistent violations & unlawful withdrawal from the nuclear deal" on Twitter, saying he would now be charged with examining whether Iran could work with remaining signatories to save the deal.

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"U.S. News and World Report" featured Pace University student Solmaz Azimi in "5 College Seniors Share Their Job-Hunting Stories"

05/10/2018

"U.S. News and World Report" featured Pace University student Solmaz Azimi in "5 College Seniors Share Their Job-Hunting Stories"

Skilled, but Stumped

There's no shortage of advice for how to start a corporate career. But budding biologists, forensic scientists and chemists may struggle to make use of traditional job search techniques, says Solmaz Azimi, a biochemistry major at Pace University in New York City.

"At my university, career services is very prominent and active, however it's a little limited for the hard sciences," she says. "We can't utilize LinkedIn as well as business majors can. We can't utilize social media that well, either."

Azimi, who was born in Kabul, Afghanistan, and attended high school there, doesn't just have biochemistry chops. Having completed translation and research internships with the Red Cross in Afghanistan and Switzerland, and an internship teaching math and science to formerly incarcerated people with The Fortune Society in New York City, she also has cross-cultural and teaching skills she'd like to put to good use.

And she knows from those experiences that even organizations whose primary functions aren't scientific "do quantitative and qualitative work that has logic a lot of scientists use," she says. "My skills can be utilized in places like that."

"I'm ideally looking for something that is inspiring," she says. "Something that will motivate me to pursue graduate school. Something I can take back and use for my home country and the other countries I've been to."

After hearing little back from the research laboratories and biotech companies where she sent applications, Azimi described herself as "very confused."

"I don't know the outlets I would use to find different opportunities," she mused.

But she's started to use Indeed.com at the recommendation of her professors and has also looked at the job opportunities posted online by large health institutions like Memorial Sloan Kettering Cancer Center.

Sure enough, she just heard back from a few companies that invited her to interview.

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"WAMC" featured Professor Matthew Bolton in "Head Of Disarmament Institute Reacts To Trump's Iran Decision"

05/10/2018

"WAMC" featured Professor Matthew Bolton in "Head Of Disarmament Institute Reacts To Trump's Iran Decision"

It was President Reagan who often repeated the phrase “trust, but verify” during his nuclear arms negotiations with the Soviet Union, and in the opinion of Pace University Professor Dr. Matthew Bolton, the Iran Nuclear Agreement, which President Trump pulled the U.S. out of on Tuesday, was a hallmark of verification. 

Bolton, the Director of the International Disarmament Institute at Pace, says the agreement with Iran was ironclad.

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"Associated Press" featured Lubin Professor Larry Chiagouris in "AP source: NASCAR memo: France family 'dedicated' to sport"

05/10/2018

"Associated Press" featured Lubin Professor Larry Chiagouris in "AP source: NASCAR memo: France family 'dedicated' to sport"

...Despite its woes, NASCAR remains "one of the strongest brand franchises in America," said Larry Chiagouris, a marketing professor at Pace University if New York. "Seeking to get a measure of its value now is a smart idea because we are witnessing the merging of entertainment and advertising assets at a pace not seen in several years. There could be many potential buyers, particularly media conglomerates and, yes, even some of the tech titans that could incorporate NASCAR into larger marketing and media programs and initiatives."

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"ABC Eyewitness News" featured Pace University’s documentary "Puerto Rico: Hope in the Dark"

05/09/2018

"ABC Eyewitness News" featured Pace University’s documentary "Puerto Rico: Hope in the Dark"

“The students of Pace University captured the devastation in a unique way. They premiered the documentary Puerto Rico: Hope in the Dark at the Michael Schimmel Center of the Arts. The Student film makers gathered over 50 interviews in both Puerto Rico and Miami to develop a powerful story of the resilience and strength found in the people of Puerto Rico.”

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"Reuters" featured Dyson Professor Matthew Bolton in "Instant View: U.S. withdraws from Iran deal"

05/08/2018

"Reuters" featured Dyson Professor Matthew Bolton in "Instant View: U.S. withdraws from Iran deal"

MATTHEW BOLTON, PACE UNIVERSITY POLITICAL SCIENCE PROFESSOR:

“The decision to withdraw from the Iran deal is truly irresponsible, putting political posturing above human security. The Iran nuclear deal made the world safer and less at risk of nuclear proliferation. The agreement cut off all the pathways to an Iranian bomb. This plays into the hands of hardliners in Iran who also want to scuttle the deal. It is a blow to America’s credibility, undercutting its capacity to persuade others that the US keeps its promises. The rest of the signatories of the Iran Deal - Iran, China, France, Germany, Russia, the United Kingdom, and the EU – should forge ahead with upholding the agreement.”

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