Posts tagged as:


Progressive taxation

December 9, 2009

The UK's plan to tax banker bonuses at 50% is really quite clever. The tax is borne by the employer, not the employee, and so the following results: Bankers keep their bonuses, and the incentive structure (for better or worse) remains intact... Taxpayers extract value from the bank, and populist rage (somewhat) subsides... Shareholders suffer. […]

0 comments Read the whole post →

Quick thoughts: stress tests and such

May 6, 2009

Front page of the NYT tonight: "As Stress Tests are Revealed, Markets Sense a Turning Point." I know I'm a cynic, but my first thought was "...which way?" Is it even possible to turn upward after a 40% rally? Sure enough, the article is quickly laced with the caveat "All of this assumes that the economy […]

0 comments Read the whole post →