H. D. Vinod Professor of Economics and Director of Fordham Institute of Ethics and Economic Policy Fordham University, Bronx, ny 10458


) Preventing Taxpayer Bilking by High Fees and Compensation



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3) Preventing Taxpayer Bilking by High Fees and Compensation.

It is often noted in Government programs that various professionals (real estate brokers, accountants, lawyers, appraisers, and others) having personal connections with people in authority tend to bilk the taxpayers by charging exorbitant fees for their services and use no-bid or rigged contracts. Sometimes these providers are known to go back and request further appropriations for same work with little oversight. Hence I recommend following adjustment:

Section 2b(3) should include the following provision. The employees /contractors hired for the purpose of implementing the buying and selling of these assets should not receive compensation in excess of $100 per hour. All compensation payments exceeding $50 per hour should be posted on the Internet for anyone to see.


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economics -> Imf programs, financial and real sector performance, and the asian crisis
economics -> History of Economics Review, No. 31, Winter, 2000 adam smith and the theory of value: Chapter Six Considered
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