View Poll Results: Should the government tax bonuses paid to executives of bailed-out companies?

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  • Yes (explain)

    10 38.46%
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    16 61.54%
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Thread: Executive Bonuses Taxed?

  1. #1
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    Executive Bonuses Taxed?

    Two senators, a Democrat and Republican, proposed a plan to tax the the bonuses given to executives of companies that received bailout money.

    Read more here:

    Senators announce plan to tax bonuses - CNN.com

    What do you think?


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    Re: Executive Bonuses Taxed?

    No.

    The government shouldn't bail the companies out.

    Resolving issues of executive compensation....let the bankruptcy courts do that.

    It's what they're for.

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    Re: Executive Bonuses Taxed?

    Not sure it is the best idea if they really wanted those companies to survive and be able to repay the money, but that is not among their main concerns.

    Their main concern is trying to duck any responsibility.

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    Re: Executive Bonuses Taxed?

    Quote Originally Posted by Cilogy View Post
    Two senators, a Democrat and Republican, proposed a plan to tax the the bonuses given to executives of companies that received bailout money.
    This money is already taxed.

  5. #5
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    Re: Executive Bonuses Taxed?

    Quote Originally Posted by Cilogy View Post
    Two senators, a Democrat and Republican, proposed a plan to tax the the bonuses given to executives of companies that received bailout money.

    Read more here:

    Senators announce plan to tax bonuses - CNN.com

    What do you think?
    We shouldn't have bailed these companies out in the first place. It puts our government in a very strange position of trying to control what corporations do when it is none of their business.

  6. #6
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    Re: Executive Bonuses Taxed?

    When the government is forced to take a majority stake in a company in order to advert financial collapse, then for all intents and purposes that company has been temporarily nationalized and its employees are for all intents and purposes are for the time being public employees.

    As such, its perfectly appropriate for the government to dictate compensation. In fact, rewarding incompetence with huge bonuses only creates a moral hazard. In the case of AIG, we had to bail the company out because if the company failed, credit markets would have collapsed overnight. Look at what happened when Lehman Brothers was allowed to fail. It was nothing compared to what would have happened had AIG failed.

    Those derivatives traders at AIG would have gotten nothing had the company not been bailed out. So why on earth should they be allowed to keep millions in "retention bonuses" paid for by the taxpayer?

    Think of it this way, if those bonuses are recovered through retroactive taxation, then that penalizes the kind of incompetence that results in the taxpayers having to bail out a firm. Thats what we want, we want these guys to be scared to death of screwing up so bad in the future that the government has to come in and rescue them. That will help prevent this kind of incompetence in the future and provide a greater incentive for self regulation.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

  7. #7
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    Re: Executive Bonuses Taxed?

    No, Dodd put the protection for the bonus in there, they gave AIG money they should not have. Now they are contractually obligated and a punitive tax to get it back is UNCONSTITUTIONAL


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    Think not that I am come to send peace on earth: I came not to send peace, but a sword.

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    Re: Executive Bonuses Taxed?

    If we allow the government to dictate this nonsense at AIG then we fully have nationalized AIG. Yeah, they're virtually nationalized now. But let politicians start dictating how to actually run the company and there's no avoiding full on nationalization. The bonus money is relatively small compared to the entire bailout. Rather than be mad at AIG folks need to start getting mad at Congress.

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    Re: Executive Bonuses Taxed?

    Quote Originally Posted by talloulou View Post
    If we allow the government to dictate this nonsense at AIG then we fully have nationalized AIG. Yeah, they're virtually nationalized now. But let politicians start dictating how to actually run the company and there's no avoiding full on nationalization. The bonus money is relatively small compared to the entire bailout. Rather than be mad at AIG folks need to start getting mad at Congress.
    We should have nationalized the company at first, and then once the economy recovers, break it up and sell it off.

    Nationalization does not result in congress running the day to day operations of a business. When companies are temporarily nationalized, the government contracts out the management of the company to private firms with relevant expertise.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

  10. #10
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    Re: Executive Bonuses Taxed?

    Quote Originally Posted by SouthernDemocrat View Post
    We should have nationalized the company at first, and then once the economy recovers, break it up and sell it off.

    Nationalization does not result in congress running the day to day operations of a business. When companies are temporarily nationalized, the government contracts out the management of the company to private firms with relevant expertise.



    Please reference the section of the constitution that defines this as a role of government.


    Matthew 10:34
    Think not that I am come to send peace on earth: I came not to send peace, but a sword.

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