Sweet Lemonade from AIG Bonus Lemons

[NAO]

Well I for one am VERY happy with the proposed solution in Congress right now for the AIG bonus fiasco.

Tax those bonuses at 90%!!!!

We have not seen anywhere near that kind of tax rate on anything since the "Great Deceiver", aka "Ronald Ray-Gun", aka "senile or traitor, you decide", aka "Mr. Government is part of the problem", aka "to fix everything just get rid of those pesky government regulations" slashed the marginal income tax rates on the highest brackets.

Now, with public outrage on our side, we may have a chane to restore some sanity and some progressively to the tax code. Even though this is a special case, it still sets a precedent. A precedent that enormous sums of money can be taxed at very high rates, and that this is the morally right thing to do in such cases.

[rwheeler31]

1. Exactly

[soothsayer]

2. Ack, isn't that unconstitutional and scary (they can tax you willy nilly if they feel like it)

I am mad as hell about the bonuses, but I'd rather see an old fashioned claw back

[Motown_Johnny]

3. Everyone who seems to be objective is saying it is unconstitutional

betting it never even comes to a vote in the Senate


This was a political sideshow