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Old March 19th, 2009, 01:44 PM   #1
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Default Bonus tax

This just passed the house:
http://www.businessinsider.com/house...nus-tax-2009-3


Sucks to be bonused
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Old March 19th, 2009, 01:46 PM   #2
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seems pretty pointless to pay taxes if you are accepting governemnt bailout

it's just a vicious circle
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Old March 19th, 2009, 01:51 PM   #3
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simply more government reactive fail. this will backfire on them too. just as everything has so far. the boons farm administration is quite possibly the dumbest administration ever.
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Old March 19th, 2009, 01:54 PM   #4
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The scary part is they cut off their own dicks. Now they will get paid higher salaries and no incentive pay. That means the feds won't get that fat tax rate they normally hit the incentive pay with. This scares me because they will tax heavier on the salary side.
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Old March 19th, 2009, 01:54 PM   #5
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I dont agree with the bonuses, but should the gvt have the power to cherry pick industries to add punish taxes?

After all its $165M, congress has blown through way more than that at any one time...
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Old March 19th, 2009, 02:05 PM   #6
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this should have been worked out before federal money was given to them. it wasn't. now they are pointing fingers and punishing people who had contracts. not all of those receiving bonuses were on the failing side of AIG. it was only 5% or something small.
they shouldn't be punished for it not being dealt with prior to. they knew about them, yet wrote no provisions and just started handing out cash. now after the fact there is a problem. how about we the people levy heavy taxes on our elected officials, the more they fukc up the more they pay.
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Old March 19th, 2009, 02:46 PM   #7
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Pub and political both do start with a P.
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Old March 19th, 2009, 03:42 PM   #8
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How do you like the change....

Random selective taxation, comunism at it's finest.....

Anybody that supports what the house pulled should be run out of this country along with all the fucksticks that voted for this bill....

This is all Obama's fault, no GWB to blame here, ass monkey Dobbs and Frank wrote in the loophole to pay these bonuses and Fucknut Obama signed it...
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Old March 19th, 2009, 07:48 PM   #9
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I'm in shock. What right does the gov't have with taxing someone their income at 90-100%!!!??? These are bonus' that were in peoples contracts before a bailout. I laughed when I heard the bailout money being used for bonus', but I was laughing at the idiots in DC who were so shocked about it.

So, now anyone who makes over 250,000 bucks, including CEO's of huge money making companies, pays 90% tax on their bonus'.
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Old March 19th, 2009, 08:13 PM   #10
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Quote:
Originally Posted by lgottler View Post

So, now anyone who makes over 250,000 bucks, including CEO's of huge money making companies, pays 90% tax on their bonus'.
If that company received over 5 million dollars in bailout funds.

It's still shitty, creating more legislative hoops to jump through because they couldn't get figure it out the first time.
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Old March 19th, 2009, 08:15 PM   #11
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If that company received over 5 million dollars in bailout funds.

It's still shitty, creating more legislative hoops to jump through because they couldn't get figure it out the first time.
oh, ok, at least they put that in there....
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Old March 19th, 2009, 08:45 PM   #12
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It is bullshit. It is also unconstitutional, as it levies punitive damages against an individual or group of specific people without being tried in court.

The bonuses were paid to a group of HIGHLY skilled financial traders that agreed to continue working at AIG with the understanding that their jobs would more than likely be eliminated after they helped unwind the huge positions in the AIG financial portfolio. These are incredibly talented people that no matter how bad the economy gets, they will always be able to find a job within hours if they wanted to do so. The deal was that these people would unwind positions in such a way that it did not bankrupt AIG and also did not put the entire economy into an even bigger nosedive. The people that got paid these bonuses DID THEIR JOBS and lived up to their end of the agreements. They EARNED the money. Had they not been promised the bonuses, most would have left the company for greener pastures. This would have left AIG with trillions of dollars of exposure and no skilled people to handle the job of closing out the books.

This is an incredible example of what is wrong with this country now. Our federal government now feels that they can ignore contract law and basic property rights. If this passes, it undermines the very foundation of our country. We are being led by idiots.
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Old March 19th, 2009, 08:54 PM   #13
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Quote:
Originally Posted by 84Scrambler View Post
It is bullshit. It is also unconstitutional, as it levies punitive damages against an individual or group of specific people without being tried in court.

The bonuses were paid to a group of HIGHLY skilled financial traders that agreed to continue working at AIG with the understanding that their jobs would more than likely be eliminated after they helped unwind the huge positions in the AIG financial portfolio. These are incredibly talented people that no matter how bad the economy gets, they will always be able to find a job within hours if they wanted to do so. The deal was that these people would unwind positions in such a way that it did not bankrupt AIG and also did not put the entire economy into an even bigger nosedive. The people that got paid these bonuses DID THEIR JOBS and lived up to their end of the agreements. They EARNED the money. Had they not been promised the bonuses, most would have left the company for greener pastures. This would have left AIG with trillions of dollars of exposure and no skilled people to handle the job of closing out the books.

This is an incredible example of what is wrong with this country now. Our federal government now feels that they can ignore contract law and basic property rights. If this passes, it undermines the very foundation of our country. We are being led by idiots.
100% agree
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Old March 19th, 2009, 09:43 PM   #14
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so is that why 11 of the AIG guys took their bonuses and ran? ok that clears things up.
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