House Approves Bill To Tax AIG Bonuses At 90%
Thursday, March 19, 2009
Rex Nutting MarketWatch Pulse
WASHINGTON -- Responding to the anger about bonuses paid to AIG traders, the House approved a bill Thursday that would impose a punitive 90% tax on bonuses paid by American International Group Inc. and other financial companies that receive federal help. The vote was 328-93. The bill would apply to bonuses of people making more than $250,000 a year, and would apply only to payments from companies getting more than $5 billion from the federal government.
Copyright © 2009 MarketWatch, Inc.
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http://www.foxbusiness.com/story/markets/industries/finance/house-approves-bill-tax-aig-bonuses/
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My Thoughts
This was not a suprise. All this fake shock and outrage had to result in this type of extreme retribution for all of anger people feel over the economic crisis. Even fake outrage has casualties. I'm still waiting for the 90% taxes on the raises Congress gets and Fannie & Freddie's bonuses.
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