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Financial-Industry Tax Law Reforms in the Wake of the Financial Crisis

Richard T. Page (Tax LL.M. 2011, Georgetown) has published Comment, Foolish Revenge or Shrewd Regulation? Financial-Industry Tax Law Reforms Proposed in the Wake of the Financial Crisis, 85 Tul. L. Rev. 191 (2010). Here is the abstract:

This Comment evaluates four recent proposals to reform tax laws affecting the financial industry. After introducing the proposals, the author provides a theoretical framework for evaluating them and then relies on this framework to explore the benefits and drawbacks of each. Ultimately, the author rejects two proposals that call for imposing financial-transactions taxes and argues that lawmakers should instead focus on plans to either (1) permit cost-of-equity tax deductions or (2) tax the debt held by major financial institutions.


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