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Thread: House passes bill taxing AIG and other bonuses

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    Banned Goobieman's Avatar
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    House passes bill taxing AIG and other bonuses

    House passes bill taxing AIG and other bonuses

    WASHINGTON (AP) - Acting with lightning speed, the Democratic-led House has approved a bill to slap punishing taxes on big employee bonuses from firms bailed out by taxpayers.
    The vote was 328-93.

    Said House Speaker Nancy Pelosi: "We want our money back and we want our money back now for the taxpayers."

    Republicans called it a legally questionable ploy to paper over Obama administration missteps.

    Minority Leader John Boehner, R-Ohio, said the bill was "a political circus" diverting attention from why the administration hadn't done more to block the bonuses before they were paid.

    The bonuses, totaling $165 million, were paid to employees of troubled insurer American International Group, including to traders in the unit that nearly brought about the company's collapse.
    House passes bill taxing AIG and other bonuses

    Hmm. Bill of attainder, anyone?

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    Sage

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    Re: House passes bill taxing AIG and other bonuses

    Quote Originally Posted by Goobieman View Post
    House passes bill taxing AIG and other bonuses

    Hmm. Bill of attainder, anyone?
    CNBC is reporting that Obama might veto it.

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    Banned Goobieman's Avatar
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    Re: House passes bill taxing AIG and other bonuses

    Quote Originally Posted by winston53660 View Post
    CNBC is reporting that Obama might veto it.
    I guess that campaign money AIG gave him is paying off!

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    Re: House passes bill taxing AIG and other bonuses

    Quote Originally Posted by Goobieman View Post
    House passes bill taxing AIG and other bonuses

    Hmm. Bill of attainder, anyone?
    I really don't understand the logic here. You give them money to bail them out. They pay their executives in accordance with their pre-existing contracts, thus removing money from the business you're trying to bail out. So the way to fix it is to take even more money from the business you're trying to bail out? It doesn't make sense. Of course she had to append "for the taxpayer" to the end of her statement in order to temper her rhetoric and appease the ignorant masses.

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    Re: House passes bill taxing AIG and other bonuses

    I find this to be obscene. The government can't recklessly give money away with no foresight, or perhaps there was foresight and a mind change in hindsight, but either way they can't do that and then make up taxes targeted at a select group of people to "fix" it.

    It's corrupt and I'm wholly uncomfortable with the precedent such a move sets.

    No matter how unhappy folks are with AIG; this is a dangerous road to go down once again.

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    Re: House passes bill taxing AIG and other bonuses

    Obama & Company sure have brought back respectability to America.

    This administration and the democratic "leadership" ae a complete embarrassment, and with the whole world watching.
    Pain can be such a beautiful thing

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    Re: House passes bill taxing AIG and other bonuses

    Quote Originally Posted by BulletWounD View Post
    I really don't understand the logic here. You give them money to bail them out. They pay their executives in accordance with their pre-existing contracts, thus removing money from the business you're trying to bail out. So the way to fix it is to take even more money from the business you're trying to bail out? It doesn't make sense. Of course she had to append "for the taxpayer" to the end of her statement in order to temper her rhetoric and appease the ignorant masses.
    It's as if children are in control. Dangerous children. Meanwhile the federal reserve is also acting in relatively unprecedented ways over the past 2 days and congress is mum.

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    Re: House passes bill taxing AIG and other bonuses

    Wow. If they can do this to them, they can do it to us.

    Scary precedent.

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    Re: House passes bill taxing AIG and other bonuses

    Quote Originally Posted by BulletWounD View Post
    I really don't understand the logic here. You give them money to bail them out. They pay their executives in accordance with their pre-existing contracts, thus removing money from the business you're trying to bail out. So the way to fix it is to take even more money from the business you're trying to bail out? It doesn't make sense. Of course she had to append "for the taxpayer" to the end of her statement in order to temper her rhetoric and appease the ignorant masses.
    Instead of asking AIG for their bonuses back, Congress could first vote on whether or not they should be getting an automatic pay raise.

    Pelosi Skips Over Congress Pay Raise Bill - TIME
    Pain can be such a beautiful thing

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    Banned Goobieman's Avatar
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    Re: House passes bill taxing AIG and other bonuses

    Quote Originally Posted by Erod View Post
    Wow. If they can do this to them, they can do it to us.
    They can't.
    It violates Article I, section 9:3 of the Constitution.

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