Taxing the Thiefs

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    Mar 19, 2009 7:06 PM GMT
    Seems Washington is saying enough is enough. You will no longer steal from the American tax payers. If you do we will tax your ass. Way to go Washington. I hope this send a clear message to Wall Street, Business as Ussual is over. This also goes for those republicain Nay sayers.

    [quote][cite[/cite]WASHINGTON – Acting with lightning speed, the Democratic-led House has approved a bill to slap punishing taxes on big employee bonuses from firms bailed out by taxpayers. The vote was 328-93. Said House Speaker Nancy Pelosi: "We want our money back and we want our money back now for the taxpayers."

    Republicans called it a legally questionable ploy to paper over Obama administration missteps. Minority Leader John Boehner, R-Ohio, said the bill was "a political circus" diverting attention from why the administration hadn't done more to block the bonuses before they were paid.

    The bonuses, totaling $165 million, were paid to employees of troubled insurer American International Group, including to traders in the unit that nearly brought about the company's collapse.[/quote]
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    Mar 19, 2009 7:42 PM GMT
    Hmmm, the lawyers could have a field day if the employees were brazen enough to challenge this. From what I have heard they had iron-tight contracts in place.

    Fact is the bonuses that were paid out to Wall Street firms and other banks last year should be considered questionable. AIG though got bail out money so they were caught.

    The whole bonus structure for executives needs to be re-vamped to reward sustainable profits not short-term gains due to taking on too much risk. One of the lessons learned from this mess.
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    Mar 19, 2009 11:36 PM GMT
    The question is though: is this just the tip of the iceberg?
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    Mar 19, 2009 11:40 PM GMT
    "Cowboiway" saidSeems Washington is saying enough is enough. You will no longer steal from the American tax payers. If you do we will tax your ass. Way to go Washington. I hope this send a clear message to Wall Street, Business as Ussual is over. This also goes for those republicain Nay sayers.

    How is this stealing from the taxpayers?

    The government fucked up by handing out the cash without any guidelines.
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    Mar 19, 2009 11:46 PM GMT
    While I have no problem taxing any individual who received a retention bonus from AIG and then didn't stay, but the problem really is in Washington. The financial sector has way too much inlfuence. If our legislators actually had the balls to forbid such contracts for anyone receiving bailout money this wouldn't have had happened. the outrage ought to be directed at Washington for permitting them to have their retention bonuses in the first place.

    You can't blame Republcans for this one, no matter how hard you try. Frankly it is just pathetic. Don't get me wrong. The financial sector had way too much influence when Republicans were in charge, but they didn't put an amendment in the bill specifically overriding langauge that would have prevented this. The Democratic leadership did (allegedly at the direction of the White House).

    Just because I am a Democrat I will NOT hold members of my own party to lesser standards than others!
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    Mar 19, 2009 11:47 PM GMT
    anyone who has who has done their homework and taken a government class will realize what the house just past is illegal...Congress...no matter how badly they want to..can NOT pass a "Bill of the Attainder or ex post facto law".

    I'm not arguing that that AIG execs getting bonuses was right, simply what Congress is trying to do now, is completely illegal.
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    Mar 19, 2009 11:55 PM GMT
    hockeytiger saidWhile I have no problem taxing any individual who received a retention bonus from AIG and then didn't stay, but the problem really is in Washington. The financial sector has way too much inlfuence. If our legislators actually had the balls to forbid such contracts for anyone receiving bailout money this wouldn't have had happened. the outrage ought to be directed at Washington for permitting them to have their retention bonuses in the first place.

    You can't blame Republcans for this one, no matter how hard you try. Frankly it is just pathetic. Don't get me wrong. The financial sector had way too much influence when Republicans were in charge, but they didn't put an amendment in the bill specifically overriding langauge that would have prevented this. The Democratic leadership did (allegedly at the direction of the White House).

    Just because I am a Democrat I will NOT hold members of my own party to lesser standards than others!


    Enough with the blame game. I'm sick and tired of people pointing fingers!!!! Get the freaking money back and make sure it doesn't happen again. That's all!
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    Mar 20, 2009 5:11 PM GMT
    Thieves.



    Lovingly Signed,

    Gustav your friendly neighborhood Grammar Nazi

    *scrape click* Heil Spellcheck!
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    Mar 20, 2009 5:35 PM GMT
    AF24 saidanyone who has who has done their homework and taken a government class will realize what the house just past is illegal...Congress...no matter how badly they want to..can NOT pass a "Bill of the Attainder or ex post facto law".

    I'm not arguing that that AIG execs getting bonuses was right, simply what Congress is trying to do now, is completely illegal.


    you know nothing about the law. this is not an expost facto law or a bill of attainder. the government has made nothing illegal which is what both of those things pertain to. the government has levied a tax which they have the right to do, and since taxes are not computed till the end of the fiscal year this couldnt be ex post facto even if ex post facto pertained to this issue because we are not in 2010. any taxes you pay from your paycheck are not taxes they are actually just a payment towards your tax bill which is calculated at the end of the year. they are taken out of your paycheck because it is easier to collect this way. this is why you get a refund some years and have to pay more in others, because you are actually taxed at the end of the year
  • Mikeylikesit

    Posts: 1021

    Mar 20, 2009 5:40 PM GMT
    Was all Just Cover up!!....They ALL new about this long ago. Obama is the one that rushed this bail out package thru. No one even had time to read what it was all about....hmmmm....Whom do you think is to blame?...icon_confused.gif
    Now starts the finger pointing & back peddling....LOL