Re: Taxing AIG Bonuses: Worse Than Paying Them.
by Anonymous
First of all, I work at one of the banks that received the TARP bailout. I made $125K base and $80K bonus, working 60-80 hour weeks. However, my wife's salary put us over the limit of $250K. If this bill goes through I will demand that she quit her job as a school teacher since it is simply not worth it any more. Better yet, maybe we'll "get divorced" so as to avoid this taxation fiasco. Targeting the hard-working ranks of these firms that make $250K or more is destroying morale. We must not forget that the people ultimately responsible for what has happened to these banks is numbered in the hundreds, and most of them have left these firms already. Now the political charades going on in Washington will have a profound effect on thousands of employees who are keeping our financial system working. Most likely the bonus money received has already been committed to bills, etc., so to ask for it back retroactively in a tax bill is NOT policy; it is "vote-getting" by under-qualified political characters in Washington. The grass-roots people who are complaining about the bonuses are the same buffoons who took out mortgages they couldn't afford. Let's remember one thing, nobody forced "Joe the Plumber" to get a piggy-back, interest-only ARM so he could buy a mansion and drive a gas-guzzling SUV. I did not buy a home because I was saving for a 20% down payment and knew what I could not afford. One last thing, which is very dangerous to our financial system; after the bill was passed today, everyone left the office and NOT ONE manager objected! If the politicians want to micro-manage the banks then I will come in late and leave early every day. Then let's see what happens systemically when everyone else does the same!!!
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