Written by: Theodore M. David, Chair Emeritus, Tax Law Committee
Current Item: A Rose is a Rose
“A rose is a rose is a rose.” You’ve probably heard this sentence before, but you might not know where it comes from. Many people assume it’s from Shakespeare, but it isn’t. Gertrude Stein wrote the line in her 1913 poem “Sacred Emily” and later included it in her 1922 book, “Geography and Plays.” Stein was an American novelist, poet, and playwright, born in Pennsylvania and raised in California, who lived in Paris from 1903 until her death in 1946. She hosted a Paris salon that included prominent artists and writers such as Picasso, Hemingway, Fitzgerald, Sinclair Lewis, Ezra Pound, and Henri Matisse. Stein was part of the modernist literary movement, and her partner was Alice Toklas. In the poem, the first “Rose” is the name of a person, but the phrase has become widely interpreted to mean “things are what they are.”
You might associate roses with Shakespeare because of Romeo and Juliet, where he wrote, “That which we call a rose by any other name would smell as sweet.” Shakespeare emphasized that the essence of a thing is more important than its name, while Stein suggested that names themselves are inseparable from identity.
What does this have to do with tax law? Consider the importance of names and language in framing policy. Words can shape perception, just as calling a bouquet of flowers “beautiful nightcrawlers” versus simply saying “here are your flowers” changes how it is received.
Earlier this year, I mentioned that unless something significant occurred, there would be no bulletin in July or August. Over the summer, Congress and the President proposed a major tax bill initially called the “Big Beautiful Bill,” a name that drew attention and sparked discussion. The title was later changed, reflecting public feedback, though the substance of the legislation remained the same.
Here’s a summary of key provisions of the bill:
• Individuals: Slightly higher standard deductions depending on filing status; senior deduction increase of $6,000 with income phaseouts; SALT deduction increased from $10,000 to $40,000; overtime pay and auto loan interest deductions; childcare credit doubled to $2,000; seven tax brackets from 10–37% made permanent with inflation adjustments starting in 2026.
• Businesses: 100% bonus depreciation for qualifying assets; immediate deduction for research and experimental expenses; extension of the 20% deduction for pass-through business income beyond 2025.
While the legislation provides benefits for both households and businesses, it also has the effect of delivering larger, long-term tax reductions to higher-income households. Regardless of the name, the economic impact of the bill remains.
In the end, names matter for framing and perception, but they do not change the substance—whether you’re talking about a rose, a poem, or a tax bill.
Questions or comments should be sent to Tdavidlawyer@gmail.com.