90% Tax on bonuses paid to companies that (how much, go bankrupt) - New Jersey (NJ) - Page 6 - City-Data Forum

topster7 · 03-19-2009, 07:16 PM

Quote:

Originally Posted by clevedark

How on earth could ANY lawmaker stand up against some form of the this special tax without looking like a complete creep?

It's a stupid situation.

It would be tough. Maybe even political suicide. But we've seen leaders before that stood against the tide because it was the right thing to do. Some went on to acclaim; some were only vindicated decades after they died.

I just wish we could lose all of the overwraught emoting and find some leader with guts and pragmatism. This rage feels good short term. Then tommorrow we still have the same problems.

TylerJAX · 03-19-2009, 07:41 PM

Some of you people are unreasonable. If AIG wasn't bailed out the ripple effect from it collapsing would of been disasterous.

topster7 · 03-19-2009, 08:46 PM

Quote:

Originally Posted by tahiti

trying....really.....hard......to...be...concerned ...about...this........

sorry, can't do it. tax the sh** out of them.

Aren't you a thoughtful soul. Tyrannical regimes have always counted on similar sentiments throughout history.

Weren't the Nazi's voted in?

Lusitan · 03-19-2009, 09:11 PM

Quote:

Originally Posted by topster7

Weren't the Nazi's voted in?

Tax the sh** out of them, too.

topster7 · 03-19-2009, 09:20 PM

Quote:

Originally Posted by Lusitan

Tax the sh** out of them, too.

FINALLY! A voice for reason, LOL!

sholden · 03-19-2009, 09:59 PM

Quote:

Originally Posted by TylerJAX

Some of you people are unreasonable. If AIG wasn't bailed out the ripple effect from it collapsing would of been disasterous.

And then maybe the idiots would learn that they can't expect to be bailed out every damn time and might actually make sound decisions next time round.

Instead we'll do it all again in 20 years - well assuming china doesn't repo the country.

doc1 · 03-19-2009, 10:16 PM

Quote:

Originally Posted by tahiti

trying....really.....hard......to...be...concerned ...about...this........

sorry, can't do it. tax the sh** out of them.

Only if they promise, cross their heart and hope to die, not to do it to any of us.

Then again, why would they? Look at all the good they're doing for us now.

Let the a**holes in DC pick up the tax. They're the dumf***s that gave them the money in the first place.

elflord1973 · 03-19-2009, 10:27 PM

I don't like it.

It's 0.1% of the AIG bailout money,

The wider implications are scary (taxation as a discretionary punishment the government imposes for political reasons)

Some of the TARP money was given on a "take it or take it" basis. For example, Goldmand and B of A would have been happy to turn it down.

Not well thought out in terms of the consequences. The unintended consequences of the bill are discussed here: FT.com | John Gapper's Business Blog | Tax Wall Street bankers in haste, repent at leisure

I think they need to lean harder on AIG now that the government basically owns them. This whole incident underscores the problems of nationalization -- governments have a tendency to make politically motivated management decisions, which is ultimately not in the interests of the tax payer. They exacerbate the problems they were trying to fix by becoming entangled in them.

stan4 · 03-19-2009, 10:29 PM

This is kind of scary...I mean, those bonuses are ridiculous, egregious, and insane, but so is that kind of legislation.

TylerJAX · 03-19-2009, 10:44 PM

Quote:

Originally Posted by sholden

And then maybe the idiots would learn that they can't expect to be bailed out every damn time and might actually make sound decisions next time round.

Instead we'll do it all again in 20 years - well assuming china doesn't repo the country.

I'm privy to the moral hazard aspect of all of this, but don't you think we'll learn enough from this to avoid something like this from happening again in the (forseeable) future?