100% tax on AIG bonuses

[taxea]

Zee..I do because Obama is not keeping his campaign promises of change.

If you were hired by a company to clean up the errors of the past would you, in good conscience, allow past practices to continue because the mistakes were made then, or would you change the rules to fix the problems that you were hired to correct.

All of what has been done since 1/20 has been done by his administration. I don't see the changes he promised anywhere in his decisions. My feeling is....huge mistakes were made but this is a new start...fix them don't let them continue. taxea

[Zee]

I think everyone knows it ain't going to happen and the bill doesn't have a prayer. It's the thought that counts.

[David1980]

All of what has been done since 1/20 has been done by his administration. I don't see the changes he promised anywhere in his decisions. My feeling is....huge mistakes were made but this is a new start...fix them don't let them continue. taxea

Some things are the same, I wouldn't expect much change in 2 months. You don't want to just change everything overnight, and you are limited in how much change you can do by what gets past congress and what is already done. That said, there certainly has been some change. For example, stem-cell research...

(I'm independent, did not vote for Obama.)

[Zee]

Zee..I do because Obama is not keeping his campaign promises of change.

If you were hired by a company to clean up the errors of the past would you, in good conscience, allow past practices to continue because the mistakes were made then, or would you change the rules to fix the problems that you were hired to correct.

All of what has been done since 1/20 has been done by his administration. I don't see the changes he promised anywhere in his decisions. My feeling is....huge mistakes were made but this is a new start...fix them don't let them continue. taxea

It's politics...nice thought...but things don't work that way. I would sure hate to be in a lose/lose situation like our new President has been placed in.

[Snaggletooth]

Here's a tax idear

Assess on any corporation, partnership, or proprietorship a surtax on certain salaries.

Surtax of 50% imposed as a payroll tax for any salary which is more than 100X the average W-2 issued by the company. For part-year employees, including voluntary and involuntary terminations, the W-2 is extended to what would be effective for 2080 hours pay.

WalMart and Home Depot and other slash-happy CEOs: What would this do to your usual modus operandi of slashing salaries, and cutting workforce down to part-time work to avoid benefits? That's right!! Cut their pay and you're cutting your own!!

Your average employee earns $25,000? That's fine. Your CEO can only make $2.5 million. Figure out how to economically raise their pay and they get a raise.

Like the old song, "What a Wonderful World This Would Be" with the resurgence of the middle-class and what their buying power would do for our economy....

[BHoffman]

Assess on any corporation, partnership, or proprietorship a surtax on certain salaries.

Surtax of 50% imposed as a payroll tax for any salary which is more than 100X the average W-2 issued by the company. For part-year employees, including voluntary and involuntary terminations, the W-2 is extended to what would be effective for 2080 hours pay.

WalMart and Home Depot and other slash-happy CEOs: What would this do to your usual modus operandi of slashing salaries, and cutting workforce down to part-time work to avoid benefits? That's right!! Cut their pay and you're cutting your own!!

Your average employee earns $25,000? That's fine. Your CEO can only make $2.5 million. Figure out how to economically raise their pay and they get a raise.

Like the old song, "What a Wonderful World This Would Be" with the resurgence of the middle-class and what their buying power would do for our economy....

Not that $2.5m isn't a great income, but incentives matter and a lot of social justice thinking tends to ignore that fact. It is not a zero-sum game, where this guy making a lot of money means that guy isn't making enough. Free trade means the buyer and the seller are both better off because of their transactions. Problem is, the buying and the selling of labor is so regulated it's hard for the parties involved to strike the right deal.

[newbie]

Zee..I do because Obama is not keeping his campaign promises of change.

If you were hired by a company to clean up the errors of the past would you, in good conscience, allow past practices to continue because the mistakes were made then, or would you change the rules to fix the problems that you were hired to correct.

All of what has been done since 1/20 has been done by his administration. I don't see the changes he promised anywhere in his decisions. My feeling is....huge mistakes were made but this is a new start...fix them don't let them continue. taxea

I agree 100%, he's had enough time! Impeach him!

[taxmom34]

i like snags idea

that sounds like a lot of common sense approach .
when the news was picking up the fact that all these bonuses were going out , i was so upset about it that i told my daughter, they should be taking the word "bonus" out of our language, and dictionaries, i don't even want to hear the word anymore.

[David1980]

House passes bill 328-93. 90% tax, applies to workers with income over $250k at companies that got $5 billion or more in govt aid.

http://www.reuters.com/article/americasRegulatoryNews/idUSN1944443520090319

[Larmil]

House passes bill 328-93. 90% tax, applies to workers with income over $250k at companies that got $5 billion or more in govt aid.

http://www.reuters.com/article/ameri...44443520090319

The House is one. The Senate (where the minority rules) is two. The Prez is three. It takes all three to tango.

[David1980]

Which is why I said "house passes" as we're only at 1 right now.

[Zee]

OK. I give up.

It appears most of you guys don't like the idea of taxing the proceeds. I must be in huge minority here. As I've said, I don't think it'll become law anyway, there's too many legal issues involved. And, as one poster said, how much tax can we get from UK citizens working in the UK?

Obviously, using the tax code as a "hammer" is kinda crazy. But, so is the way we got into this mess. I can't say I really endorse it, but I thought it would stimulate some lively discussion. I hope we can find some way to get every penny back, not by reducing future payments. I want those guys to lose the bonuses.

I wish it was a different world. Life was so simple under Dubya.

[taxea]

I would love it if they could find a legal way to tax all the huge bonuses. Oh, and Zee, not meaning to bite you, but Obama put himself where he is. I just think he should keep his word. taxea

[Zee]

I would love it if they could find a legal way to tax all the huge bonuses. Oh, and Zee, not meaning to bite you, but Obama put himself where he is. I just think he should keep his word. taxea

From what I read today, I think our new Treasury Secretary should be fired. He seems to have been responsible for the screw-up. Frankly, I didn't want to see him confirmed after his tax problems were made public. It was a "huge" disappointment to me. He certainly shouldn't be in charge of the IRS.