Income Tax Reform Implications of the Financial Crisis
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Description
Tax rules encouraging excessive debt, complex financial transactions, poorly designed incentive compensation for corporate managers, and highly leveraged homeownership all may have contributed to the financial crisis, but do not appear to have been among the primary causes. Even without a strong causal link, however, the pre-existing case for tax reform at all these margins arguably is strengthened by the 2008 financial crisis, which suggests that tax rules not only fell short of classic neutrality benchmarks but generally leaned in precisely the wrong direction.
Source Publication
Taxation and the Financial Crisis
Source Editors/Authors
Julian S. Alworth, Giampaolo Arachi
Publication Date
2012
Recommended Citation
Shaviro, Daniel N., "Income Tax Reform Implications of the Financial Crisis" (2012). Faculty Chapters. 1751.
https://gretchen.law.nyu.edu/fac-chapt/1751
