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Actual legislation (H. R. 1586) appears to exclude "commission" from the definition of bonus.

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kpete Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-19-09 08:25 PM
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Actual legislation (H. R. 1586) appears to exclude "commission" from the definition of bonus.
AIG has probably decided that it's not worth fighting the retroactive bonus confiscation at this point, but the actual legislation (H. R. 1586) appears to exclude "commission" from the definition of bonus. Thus, if the firm wanted to, it could restructure compensation for last year to have been based on the number of credit default swap contracts closed, label those payments commissions, and get its people paid that way. Which does raise the question of why they didn't structure the payments that way the first time. But with Congress making an utter fool of itself, maybe better late than never.

http://bestofbothworlds.blogspot.com/2009/03/free-aig-4...
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Southpaw07 Donating Member (61 posts) Send PM | Profile | Ignore Thu Mar-19-09 08:37 PM
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1. Commissions would be difficult to tax at 90%
Edited on Thu Mar-19-09 08:45 PM by Southpaw07
A lot of sales reps, I being one, work on 100% commission. I would struggle with a take home pay of $10,000.

EDIT TO ADD: If they were going to add commissions to be taxed at this rate, it would have to be above a certain dollar amount. It couldn't be from dollar 1. Over, say, $150K,
I'd be on board with that.
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