First, I was wrong about the AIG bonuses!The people were promised a bonus for work completed and should be paid, regardless of how outrageous the amount.
The problem is with the people who offered the contracts and the media for slanting the public view by not disclosing the true nature of the contracts.
Asking the ones who tipped big with our money to return, repay the 170+ million to the government would be appropriate.
Secondly, I watched almost all of the congressional interviews; Mr. Liddy is a very impressive person. He has taken a job to do something good and now his friends and family are threatened verbally. This should never happen. It is not his fault he is trying to fix the mess.
Everything is so tangled an unclear, who is telling the truth, and who really wants to do the right thing. Integrity and honesty seem to be in an extreme shortage at present...
Secondly, I watched almost all of the congressional interviews; Mr. Liddy is a very impressive person. He has taken a job to do something good and now his friends and family are threatened verbally. This should never happen. It is not his fault he is trying to fix the mess.
Everything is so tangled an unclear, who is telling the truth, and who really wants to do the right thing. Integrity and honesty seem to be in an extreme shortage at present...
"Spurred by anger over A.I.G. bonuses, the House voted 328 to 93 to levy a 90 percent tax on bonuses paid by any company accepting more than $5 billion in bailout money."
ReplyDeleteThis is (to me) a misuse of power. I wonder if it includes all bonuses... or just for those earning top dollar. In either case, it opens the door to all kinds of crazy taxes... like taxing realistic artists. Where do you draw the line?
Well, this is wrong also but I wouldn't worry too much about it sticking! One of the rich guys without a new position will take it to the supreme court and it will be a loss for congress and of course many more tax dollars wasted.
ReplyDeleteAnother thought? If they gave me 5 billion as an astist to bail myself out of my creative crater I'd gladly pay 90% tax on my 22 million dollar self-generated bonus!!!
ReplyDelete1) if the 90% tax sticks... this tax is in addition to state and local taxes...so they could end up paying more than they received.
ReplyDelete2) don't be so fast to condemn their bosses. Supposedly they saved their company billions. So 100 million may not be excessive. Would you pay someone 100 million to earn for you 100 billion? Of course you would, or you wouldn't be doing your job.
3) this is about color... not black and white.
I don't think that they will get to do the 90%...it should be overturned, I hope.
ReplyDeleteThe reason I'm against the bonuses is because it is way out of hand, rates of pay and bonuses are just astronomical. I don't mind a reasonable bonus.
A twenty-two million bonus would take 550 years of earning $40,000 a year. No one person is worth that kinda of money, especially besides their salary.