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|Taxing The Taxpayer Funded Bonuses|
Mar. 19th, 2009 at 9:08 am
Today I saw the House is set to vote on taxing AIG bonuses. Here is an excerpt:
“The House is scheduled to vote today on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money. “We figured that the local and state governments would take care of the other 10 percent,” said Rep. Charles Rangel of New York, chairman of the tax-writing House Ways and Means Committee. Rangel said the bill would apply to mortgage giants Fannie Mae and Freddie Mac, among others, while excluding community banks and other smaller companies that have received less bailout money. House Democratic leaders unveiled the bill as the head of embattled American International Group Inc., which has received $182 billion in bailout money, testified about $165 million in bonuses paid out in the past week to about 400 employees in its Financial Products unit.”
I must admit I feel a certain sense of happiness about this – hopefully it will pass. For a company to effectively play a large role in destroying the economy which is screwing up many innocent lives, then take government money and subsequently give that money to the bozos that screwed things up in the first place is just plain wrong. Therefore, I find some pleasure in reading this… It is about time that the Government does something about these ridiculous bonuses instead of just wringing their hands over it.