Tagged: tax

UBS tax deal in trouble

The Swiss government says it may have to renegotiate that deal with the U.S. Internal Revenue Service to hand over names of thousands of tax cheats in return for ending legal proceedings against the Swiss banking giant UBS.  Law Professor Daniel Berman, a former U.S. Treasury deputy international tax counsel, says the Swiss government has […]

Wall Street’s record compensation

Despite fury over Wall Street’s pay culture, major banks and securities firms are headed toward a record compensation total of around $145 billion for 2009 when all the numbers are out.  Economics Professor Laurence Kotlikoff, a  senior economist in the Reagan administration whose new book, “Jimmy Stewart is Dead,” about the banking industry, will be […]

Citigroup repayment costs taxpayers

On the one hand Citigroup is repaying Uncle Sam that TARP bailout money, which is good for taxpayers.  On the other hand, they’re getting a multi-billion dollar tax break in the process.  Economics Professor Laurence Kotlikoff, a former senior economist in the White House Council of Economic Advisors, doesn’t like the tax breaks built into […]

Taxing to deal with “too big to fail” corporations

Law Professor Tamar Frankel, author of “Trust and Honesty: America’s Business Culture at a Crossroad,” says taxation is a reasonable tool to use to control corporations which are being given federal bailout money because they’ve become “too big to fail.” “Many wonder and worry about the mammoth banks and corporations that became ‘too big to […]