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AIG Bonuses and the Feigned Outrage of Obama and Congress - Page 2

post #31 of 37
3/21/09 at 7:44pm
Quote:
Originally Posted by mrblanche View Post
Even Nixon was on Laugh In.
Hey, you're right!! I remember that. He did one of those "sock it to me" thingies, didn't he?
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post #32 of 37
3/23/09 at 12:39pm
This may be off-topic but I was listening to CBC this morning and one of the folks being interviewed about the AIG issue said the initials for AIG stood for Arrogance, Incompetence and Greed. I got a chuckle out of that.
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post #33 of 37
3/23/09 at 1:21pm
Quote:
Originally Posted by Yosemite View Post
This may be off-topic but I was listening to CBC this morning and one of the folks being interviewed about the AIG issue said the initials for AIG stood for Arrogance, Incompetence and Greed. I got a chuckle out of that.
That is funny, applies to Congress, too.
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post #34 of 37
3/24/09 at 11:55am
I heard something on the radio this morning about 1/2 of the money having been recovered because some (maybe all?) of the american recipients are returning the money, including the top 10 highest amounts. I also heard that those who returned the money would not have their names released and that that was not a threat to those who didn't return the money.

They were also about to say something about the foreigners who received money and how there may be a way to recover that money too. But unfortunately I pressed snooze before I heard that.

Maybe someone more informed can provide the whole story?
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post #35 of 37
3/24/09 at 1:26pm
http://article.nationalreview.com/?q...Q4NGY4NmFmZDM=

The above link is really interesting with the history it gives on what has happened in the past when taxes are raised to 70% 80% 90+%

The Obama administration scares me to death. I think AIG was used.

If the tax rate goes up to 90% for all people making in excess of $125,000.00 per year per person, what will that do to private enterprise?
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post #36 of 37
3/24/09 at 1:50pm
Quote:
Originally Posted by ckblv View Post
http://article.nationalreview.com/?q...Q4NGY4NmFmZDM=

The above link is really interesting with the history it gives on what has happened in the past when taxes are raised to 70% 80% 90+%

The Obama administration scares me to death. I think AIG was used.

If the tax rate goes up to 90% for all people making in excess of $125,000.00 per year per person, what will that do to private enterprise?
I don't think it's fair to punish people in private enterprise that didn't ask for a bailout to have to pay more taxes because of AIG. That's just not right.
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post #37 of 37
3/24/09 at 2:11pm
The current proposal for a 90% tax applies just to bonuses given to firms that took TARP/TALF money. BUT.......if it survives and if it gets signed and if it survives court challenge (all big if's) THEN it sets precedent. Marginal tax rates have been at 90% before. Ronald Reagan tells in his autobiography of being offered more roles when he was an actor but turning them down because the money he earned would have been taxed at the 90% rate. Now think of that applied in this current poor economic environment when we desperately need some growth so people without jobs get hired again.
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