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Wall Street Bonuses Shift Forward
futureofcapitalism.com

Some smart money is apparently betting that even with expected Republican gains in next week's election, there won't be enough votes to win extension of the Bush tax cuts for upper income taxpayers over a potential Obama veto. Writes Encima Global's David Malpass, who is both smart and plugged-in: "though not in the press yet, major New York brokerages have begun plans to pay bonuses in December rather than the normal January cycle in order to beat the tax hike. "

One of the reasons tax increases often don't produce the revenue that the static analysis models say they will is because of "income shifting." Particularly at higher levels (just ask Ralph Lauren), taxpayers have some discretion over the timing of when they realize income.

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Wall Street Bonuses Shift Forward
futureofcapitalism.com

Some smart money is apparently betting that even with expected Republican gains in next week's election, there won't be enough votes to win extension of the Bush tax cuts for upper income taxpayers over a potential Obama veto. Writes Encima Global's David Malpass, who is both smart and plugged-in: "though not in the press yet, major New York brokerages have begun plans to pay bonuses in December rather than the normal January cycle in order to beat the tax hike. "

One of the reasons tax increases often don't produce the revenue that the static analysis models say they will is because of "income shifting." Particularly at higher levels (just ask Ralph Lauren), taxpayers have some discretion over the timing of when they realize income.

Read More...


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David Malpass

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