CIAO DATE: 08/2010
April 2010
Peterson Institute for International Economics
Not only are 10 percent of Americans unemployed but the federal budget is out of whack thanks to the specter of rising entitlement outlays. A natural impulse in difficult times is to protect domestic products and domestic producers. The tone of political economy during the global recession of 2007–09 is no different from that in past recessions— but louder because the economic damage is more severe. Emblematic of this spirit is a proposal to discriminate against foreign-owned insurance companies, using the tax code.
Resource link: Protection by Stealth: Using the Tax Law to Discriminate against Foreign Insurance Companies [PDF] - 107K