Law Commons^™

Curb Your Enthusiasm For Pigouvian Taxes, Victor Fleischer

Victor Fleischer

Pigouvian (or "corrective") taxes have been proposed or enacted on dozens of products and activities that may be harmful in excess: carbon, gasoline, fat, sugar, guns, cigarettes, alcohol, traffic, zoning, executive pay, and financial transactions, among others. Academics of all political stripes are mystified by the public’s inability to see the merits of using Pigouvian taxes more frequently to address serious social harms.

This enthusiasm for Pigouvian taxes should be tempered. A Pigouvian tax is easy to design—as a uniform excise tax—if one assumes that each individual causes the same amount of harm with each incremental increase in activity on …

The New York City Campaign Finance System: A Model System That Violates State And Federal Law, Daniel A. Katz

Daniel A. Katz

The New York City campaign finance system was amended in 2007 from a voluntary program into a mandatory regulatory scheme that is applicable to all candidates. Because the requirements of the law can no longer be avoided, the law is in conflict with provisions of state law that govern local elections. A United States Supreme Court decision, Davis v. FEC, handed down in June of 2008 has further undermined the validity of the New York City campaign finance system. The decision held that asymmetrical contribution limits applicable to candidates based on the candidate’s use of their own wealth violate the …