Argument: 2010 bank tax will raise less revenue due to evasion

Issue Report: 2010 US bank tax


Jeffrey Miron. “Bailing out the Banks Was Wrong, but New Tax Won’t Make It Right.” Investor’s Business Daily. January 14, 2010: “The proposed tax will also raise less revenue than promised, again because those subject to the tax will take steps to avoid it. Relocation overseas is one approach; accounting gimmickry is another. The net revenue raised may even be negative because the U.S. will not collect income or payroll taxes from those thrown out of work by an exodus of financial institutions.”