Economists Roger Gordon of UC San Diego and James Hines of the University of Michigan have documented the flow of investment capital from high-tax areas to low-tax areas.

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U.S. economic data due for release Friday includes Treasury international capital flows data and the University of Michigan consumer sentiment survey.

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U.S. economic data due for release Friday includes the Empire State manufacturing survey, Treasury international capital data, industrial production and capacity utilization, the University of Michigan consumer sentiment survey, and quarterly e-commerce retail sales.

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One was introduced by Democrats Jeff Merkley of Oregon and Carl Levin of Michigan to bar banks from proprietary trading and impose tougher capital standards on risk taking.

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The takeover could have broad implications for the principle of local rule in troubled cities and widen racial tensions that have long been an undercurrent of relations between Michigan's cities and Lansing, the state capital.

WSJ: Governor to Appoint Financial Overseer for Detroit

Tim Draper, namesake of the venture capital firm Draper Fisher Jurvetson, came to Wayne State University in Michigan today for Techonomy: Detroit , where he gave a talk on the next generation of entrepreneurs.

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They are in the 15% bracket (plus 4.33% state of Michigan), which means they potentially pay 0% on long-term capital gains.

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