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Thread: US Sen. Schumer threatens huge tax on AIG bonuses

  1. #11
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    Re: US Sen. Schumer threatens huge tax on AIG bonuses

    Quote Originally Posted by zimmer View Post
    This should chill a few companies.
    It should also help tank AIG of talent.
    How much talent do you think it took to run that company into the ground to begin with? I don't think AIG has any to lose.

    Furthermore,would the best and brightest want to work for AIG anyway?

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    Re: US Sen. Schumer threatens huge tax on AIG bonuses

    Quote Originally Posted by jujuman13 View Post
    Let me propose a different scenario that would (if US. Sen. Schumer's Bill were to be passed) come about.
    What he is proposing is a way in which the Government would (Legally) be able to tax a (any) person's income retroactively.


    Now folks, use you heads.
    If this were to come about then there would be nothing to prevent Government say to you (the Taxpayer) ok you paid your taxes correctly in say 2000 but now your Government needs more money, so we are going to increase your taxes for that year 2000 by X%.
    Under this proposed Bill, you do not have a leg to stand on, likely you would probably not have a house to live in either.
    AFAICT that's actually the status quo. Of course I understand why you don't like it on principle, but this bill is nothing new in that regard.

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    Re: US Sen. Schumer threatens huge tax on AIG bonuses

    Quote Originally Posted by WillRockwell View Post
    LOL...once again the right wing is on the wrong side of an issue...trying to defend money managers who conspired to steal millions from hardworking taxpayers.
    ...Congress?

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    Re: US Sen. Schumer threatens huge tax on AIG bonuses

    Quote Originally Posted by Erod View Post
    Did you know that AIG was Dodd's biggest campaign contributor?
    Dodd is toast in 2010. If the Dems don't primary him out, or if he doesn't resign, the Republicans will have a rare win in the Northeast.
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: US Sen. Schumer threatens huge tax on AIG bonuses

    Quote Originally Posted by zimmer View Post
    This should chill a few companies.
    It should also help tank AIG of talent.
    I wouldn't want to work there with jerk offs like Schumer baiting and switching.
    Painting employees there as Satan.
    This "talent" did such a wonderful job at AIG that the company has thus far needed over 170 BILLION DOLLARS to stay afloat.

    This talent that received these bonuses were derivatives traders, the very greedy douche bags whose actions resulted in AIG needing over 170 billion dollars to stay afloat and advert worldwide financial collapse.

    Do you honestly think that anyone else wants that "talent" right now? If you ****ed your company like that, would you deserve a bonus?

    I picked the wrong profession. In IT, if I **** up and cost my employer a lot of money, they would just can me. However, if I just would have went into derivatives trading, I could get millions in bonuses after my **** ups cost my employer over 60 billion in just the last quarter, then get some rabid right wingers defending my bonuses.
    Last edited by SouthernDemocrat; 03-17-09 at 07:29 PM.
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    Re: US Sen. Schumer threatens huge tax on AIG bonuses

    Quote Originally Posted by bhkad View Post
    These retention bonuses are to keep sophisticated talent working at the company. The bailout money is to keep the company from going out of business.

    I reason that taxing the bonuses will shoot AIG in the foot...or maybe higher.

    It might wound AIG or kill it.

    And at worst ALL the bailout funds might have been wasted as well as having the effect of maybe causing other companies to fail in a domino-like phenomenon.
    That's why with all their bluster in D.C. - it ain't gonna happen- it's too late. The politicians, both repub and dems, are just trying to make Americans, that are paying for these bonuses, feel better.

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    Re: US Sen. Schumer threatens huge tax on AIG bonuses

    Have these idiots not heard of the Bill of Attainder clause in the US Constitution. I guess no one should be surprised. They are playing to a really stupid electorate. They will posture for a few more days until it dies down then go on to the next big controversy.

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    Re: US Sen. Schumer threatens huge tax on AIG bonuses

    Quote Originally Posted by cascadian View Post
    How much talent do you think it took to run that company into the ground to begin with? I don't think AIG has any to lose.

    Furthermore,would the best and brightest want to work for AIG anyway?
    They could get sued by those employees for breach of contract if the bonuses didn't get paid, so yes, they did have alot more to lose. However I will agree with you that incompetence led to the initial mess with A.I.G.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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    Re: US Sen. Schumer threatens huge tax on AIG bonuses

    Quote Originally Posted by jujuman13 View Post
    Let me propose a different scenario that would (if US. Sen. Schumer's Bill were to be passed) come about.
    What he is proposing is a way in which the Government would (Legally) be able to tax a (any) person's income retroactively.

    Now folks, use you heads.
    If this were to come about then there would be nothing to prevent Government say to you (the Taxpayer) ok you paid your taxes correctly in say 2000 but now your Government needs more money, so we are going to increase your taxes for that year 2000 by X%.
    Under this proposed Bill, you do not have a leg to stand on, likely you would probably not have a house to live in either.

    I am as outraged as anyone else at the idea that these guys at AIG receive a Bonus for in effect bankrupting their own company.

    But retroactive taxing will only cause more problems than it solves.

    What continually surprises me is why ostensibly sane people continue to elect idiots such as those in the DNC and GOP to office.
    They rarely enact laws that protect you the voter, they regularly strip away Laws and Regulations that are designed to protect you.
    They regularly accept donations from businesses that profit from the removal of Laws and Regulation.
    And yet, you still continue to elect them...........................WHY?
    Well put. Seriously, everyone should be scared of the thought of retroactive taxation.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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    Re: US Sen. Schumer threatens huge tax on AIG bonuses

    It's time for the feds to bite the bullet and just nationalize AIG. Throwing huge piles of money at them while getting nothing in return hurts the taxpayers so the investors can benefit. Allowing them to just go belly-up would create a disastrous domino effect that could cripple the global economy for years.

    It's time for the feds to just buy them out completely, sit on their assets for a couple years, and then auction them off for whatever they're worth.
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