Thursday, March 19, 2009

90% "AIG Bonus" Tax Issued by Congress

Well Congress is going to get that money no matter what and they rushed through some legislation that will do it post-haste.

Denouncing a "squandering of the people's money," lawmakers voted decisively Thursday to impose a 90 percent tax on millions of dollars in employee bonuses paid by troubled insurance giant AIG and other bailed-out companies. The House vote was 328-93. Similar legislation has been introduced in the Senate and President Barack Obama quickly signaled general support for the concept.

In other words give back that TARP money right now or Congress will tax your employees so badly that they will want to leave. Or maybe even get them killed or harassed if Barney Frank had his way.

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