ANN ARBOR — During the darkest days for investors after the 2008 financial crisis that swallowed Lehman Brothers up like a sinkhole, the common wisdom was to hold tumbling shares and wait for better days. (more…)
Tag Archives: joel slemrod
ANN ARBOR, Mich.— Taxes on executive bonuses, financial transactions and excess profits are a few of the taxes proposed or enacted to punish banks for their role in the recent financial crisis, but most of these ideas have shortcomings, says a University of Michigan economist.
“A number of potentially complicated and ambitious new taxes on the financial sector are currently being discussed,” said Joel Slemrod, professor of economics and the Paul W. McCracken Professor of Business Economics and Public Policy at Michigan’s Ross School of Business. “While the recent financial crisis shows how important it is to consider whether such instruments might help to improve incentives, reform efforts should not unduly focus on the exotic and new at the expense of the familiar and old. (more…)