A 90% tax on any bonus from a company which has accepted bail-out money. Shouldn't have let it happen in the first place, but at least they did something...I guess. From CNN:
House passes bill taxing Wall Street bonuses
Posted: 02:47 PM ET
WASHINGTON (CNN) — The House of Representatives passed legislation Thursday to try to recoup bonuses paid to Wall Street executives with taxpayer money.
The measure passed, 328-93; most Democrats supported the measure while Republicans were sharply divided.
A two-thirds majority among all members voting was required for passage.
The measure would tax individuals on any bonuses received in 2009 from companies getting $5 billion or more in money from the Troubled Asset Relief Program, or TARP. Bonuses for people with incomes over $250,000 would be taxed at a 90 percent rate.
The measure now moves to the Senate for further consideration.
1 comment:
Should have been taxed at 100%!!!
Receiving bail-out money AND any amount of a bonus is ridiculous!!
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