Congress Passes 90% tax on executive bonuses

[Left Seater]

Word is a new tax has been passed on any employee making $250,001 or more who work for a company that has taken any of the stimulus money. Any bonus would be taxed at a rate of 90%. Half paid by the employer and half by the employee. Bill in Conference Committee now.


Just heard a radio interview with an executive of some company saying the new law is toothless because salaries can be lowered to any amount and the rest given in bonus.

IE Joe made $1 million last year and is due a $1 million bonus. 90% is due on the bonus.

Instead the company lowers Joe's salary to $250,000. It then pays him a bonus of $1.75 million. The 90% tax is not in effect.


Nice. Way to go Congress.

[Left Seater]

Sure looks like it.

Over under on the number of days before challenged in court if signed by President Hussein?

[Cuda]

I didn't do it, dammit. No, no, no

Well, OK, I did, but the Schwartzer here MADE me do it

-sin

[KC Scott]

Just wondering -

None of you mind that AIG is giving out your Tax dollers to the Execs that drove the company into the ground?

I'm mad as hell we're forced to fund any of this bullshit - but the Exec bonuses should even put the dittoheads over the top.

[Moving Sale]

Bill of Attainder much?

Head up your Racist ass much?

[Cuda]

Just wondering -

None of you mind that AIG is giving out your Tax dollers to the Execs that drove the company into the ground?

I'm mad as hell we're forced to fund any of this bullshit - but the Exec bonuses should even put the dittoheads over the top.

All AIG did was OBEY THE FUCKING LAW AS IT WAS WRITTEN.

Where's your outrage for the cocksuckers who VOTED FOR IT?

Shut up, dickbreath

[Moving Sale]

Just wondering -
None of you mind that AIG is giving out your Tax dollers to the Execs that drove the company into the ground?

All AIG did was OBEY THE FUCKING LAW AS IT WAS WRITTEN.

So as long as it's legal it's right? Nice take you vapid Racist fuckhole.

[Cuda]

AIG didn't pass any fucking laws, Congress did.

Are you suggesting AIG should have NOT obeyed the law?

[Moving Sale]

Are you suggesting AIG should have NOT obeyed the law?

That's funny. The depth of your stupidity knows no bounds.

[Left Seater]

Just wondering -

None of you mind that AIG is giving out your Tax dollers to the Execs that drove the company into the ground?

I'm mad as hell we're forced to fund any of this bullshit - but the Exec bonuses should even put the dittoheads over the top.

I am mad as hell we are bailing out any private industry. That said, I don't think we can invalidate any employment contracts regardless of the taste they leave in our mouth. If passing a retro active tax on an employee is ok, then why stop there? Are union contracts next? Sorry Joe, you were to be paid $35 an hour, but it turn out the free market rate is only $8 an hour, we are going to adjust it because the economy is bad.

[GOSD]

Bill of Attainder much?

I'm sure the first thing everyone on this board thought was: "I wonder what Obama's fluffer thinks of this bill?"

Or we didn't. Go back to cheerleading Palin and riding the sinking ship you constantly support. Hopefully this time you'll drown from semen and salt water.

[GOSD]

AIG didn't pass any fucking laws, Congress did.

Are you suggesting AIG should have NOT obeyed the law?

Congress fucked up and once again this country was fucked over by the same inbred fucks that created this in the first place. Now they are going back and correcting their mistake. I have no problem with Congress playing these types of games with the criminals that caused this mess. I could give a shit less about what is fair with these fucks, when they didn't care what was fair in a free market. You dumbfucks supporting them only make this shit worse and I woulddn't be against taking away your right to vote either. What ever it takes to get rid of the right of dumbfucks to manipulate anything.

[Left Seater]

What ever it takes to get rid of the right of dumbfucks to manipulate anything.

So the part about how the salary can just be lowered and then bonused to the employees went right over your head. The new law just creates more manipulation.

[Cuda]

once again this country was fucked over by the same inbred fucks that created this in the first place. .

Most especially these two:

[Y2K]

A worthless Don Rumsfeld takes a dive for an incompetent and greedy Bush/Cheny/Haliburton connection...
and now
Our worthless new superstar Treasury Secretary will now be martyred for the incompetent and greedy Obama/Dodd/AIG connection

"Change" I can believe in just get's better every fucking day ...

[Y2K]

This is scary stupid.

No need to remove the content it was spot on 88....


So is The Fed printing a trillion dollars and using it to buy US debt to lower interest rates. These people are out of their fucking minds. The Prime rate is headed to the freak'n Moon...Bank on that one...Like I have said many times before at T1B "I've seen it before" but never on a scale like this. I guaranfuckingtee the Saudi's and the Chinese will demand a 10% plus return on their buying US Debt... that's gonna be double that for you and me. Sure the dollar isn't gonna be worth shit but the one's you have will start doing better than the current .03% savings rate (1% for CD's)

Enjoy the ride and hang on..

[Tom In VA]

No shit dude. I am actually considering sending my mortgage broker a gift basket. My ARM has adjusted - down - the past year. It can only go up or down 1.5% every six months, and it caps at a reasonable point where I can afford it - as long as I make what I'm making now.

[Shlomart Ben Yisrael]

My ARM has adjusted - down...

Is your wife visiting her "Aunt Flo" this week? Is that why?

[Tom In VA]

lmao, RACK.

[Tom In VA]

Yes We Can