Oh man, I just overheard someone talk about the tax against those AIG Bonus - if true, this rocks

[LynneSin]

Congress is considering a bill where anyone receiving AIG bonuses would be hit with something like a 90% tax against those bonuses thus returning a chunk of that change back to the government.

I hope that goes thru. If those AIG execs had any sense of pride they return the money.

[DrDan]

1. I don't like the idea of targeting taxes in this way

bad idea - could open up a whole new strategy of congressional abuse

[LynneSin]

2. You have a solid point but we need to recoupe that money somehow

I mean for some of these folks the money may already be spent

[leftynyc]

3. Normally I would agree with you

but the greed here is so egregious and it's OUR money they're giving those bonuses with so I'm pretty torn about it. You would think it's a no brainer that if you need govt bailout money, nobody deserves a freeking bonus and the company should just be happy the govt didn't let you declare bankruptcy (in which case those contracts would be void anyway). This was the same company that had to be spanked for the execs going on a very expensive retreat one week after their first bailout Seems they didn't learn their lesson and I am of a mind to teach them one they wont soon forget.

[DrDan]

6. but you know the previous administration would use the same line of reasoning

to punish teachers, liberal journalists, abortion providers.

They would just claim "an egregious missdeed has been committed and we should tax the crap out of 'em".

Look at the congressional nonsense around Terry Schiavo.

These are not bright people. They do not need a precedent like this in their pockets.

[leftynyc]

9. Only teachers would fall into

this category as they are paid by the government and not really even then as they are paid by state and not federal. The others don't get the salaries from my tax dollars. My objection to taxing the hell out of those bonuses is that it may not be constitutional.

[DrDan]

12. well . . . I think it would be a mistake to open the door for "special" taxes.

It establishes a precedent for misuse.

[soothsayer]

4. Just a plain old clawback would suffice

[DrDan]

5. I agree with that - interesting that these bonuses were retention bonuses

yet a dozen or so recipients have left.

I would think a retention bonus would carry a commitment to stay.

Performance bonuses are another story. Hard to make the claim that 100% of the employees did not earn a performance bonus. Surely some did their job in a more-than-satisfactory way.

Anyway - need some kind of resolution to this. Folks are upset.

[CTyankee]

7. "sense of pride"?

I don't think these f*ckers have a sense of anything except their own egos.

They outta be grateful they are not being hauled off to the guillotine!

[LynneSin]

8. Sen Grassley - is that you???!!!

[dionysus]

10. rofl

[bklyncowgirl]

11. All that money's probably safely deposited in Cayman Island accounts by now.

No way the government's getting it back. This tax thing is just a ruse.

[littlebit]

13. From what I heard on Mike Malloy last night that might not work.

Most of the bonuses were paid to people in the London office. I need to go look that up and see if that is true. If it is the US government isn't going to be able to do that.

[ellacott]

14. Some of the recipients aren't U.S. citizens

The IRS has no juridiction over their taxes.