Feds threaten 100% tax on AIG bonuses Gov swaying with the wind (Congress, drugs)

[vec101]

The Feds are threatening AIG execs that if they do not return their bonus money, the Feds will tax it at 100%.
Hey, the Stimulus Bill allowed the bonuses and the Treasury Dept knew about the bonus contracts months ago.
I find the "swaying with the wind" thoughts and actions by our govt to be rather disturbing.

Of course I am outraged that my tax dollars are paying the bonuses.
My problem with the threatened bill - the fear that the Fed tax bill will trickle down in some manner to negatively affect smaller businesses.

House and Senate Democrats were drafting separate bills to impose taxes of up to 100 percent on the big bonuses that were awarded by companies that were rescued by federal bailout money.

A.I.G. would not be the only company named by legislation in either the Senate or the House, but there was no question whose executives were the inspiration.

100% Bonus Tax? Lawmakers Threaten A.I.G. - DealBook Blog - NYTimes.com

Also http://www.nytimes.com/aponline/2009...rage.html?_r=1

But though some lawmakers did move to prevent bonuses in the stimulus bill last month, the final language actually makes an exception for pre-existing contracts, effectively exempting AIG.
http://www.cnn.com/2009/POLITICS/03/17/aig.bonuses.congress/index.html?
iref=newssearch

Which BTW: Here is a Summary of how fed tax law changes changes can affect businesses
Summary of Business Tax Law Changes 2008 - 2017

[gsupstate]

Obama definitely blows with the political wind. No backbone....no moral compass. Not shocked.

[CharlottePirateFan]

Originally Posted by gsupstate

Obama definitely blows with the political wind. No backbone....no moral compass. Not shocked.

Well we know he used to do a lot of drugs. Maybe he was just high.