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If it isn't then I don't see why.  So maybe ya'll can take a crack at it.  Tell me why a highly progressive income tax on financial institutions is not the correct remedy for "too big to fail".  As a matter of interest, why isn't a highly progressive income tax on all corporations the best way to prevent monopolistic price gouging?  Like if your institution earns 10$ per share and the number of shares outstanding is less than 250k then the tax bite is also small.  But if the number of shares outstanding is very large then the aggregate amount of income will be severely taxed.  This would seem to keep shares divested among competing enterprises.  No one is deprived of profiting from competitive efforts and innovative performance while corporations cannot become too big to fail.  I am not going to propose the actual brackets, but brackets that taxed the current big banks at about 90% would seem to be the proper medicine.  No need to regulate them directly.  Just make it to where they will have to bust themselves up or feed the government kitty.

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Comment Preferences

  •  It would be complicated (0+ / 0-)

    If it were done simply, then Corporation lawyers and accountants would have a field day creating complex corporate structures that made it look like the profits were going to independent entities that spread it out to keep the rate low.  I'm not saying it can't be done, but it would be complex.

    Numbers are like people . . . Torture them enough and they'll tell you anything.

    by Actuary4Change on Tue Oct 11, 2011 at 08:57:52 AM PDT

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