White House: AIG Bonus Tax May Be 'Dangerous'

when is someone going to report that a 90% tax on AIG bonuses means AIG (we the taxpayers pay 1/2 and the employees pay 1/2 which is their normal tax bracket---so what is new?

"ANTI-FREE MARKET" COMMENT BY REP. MIKE PENSE!
Pense refered to the attempts to tax the bonus money paid out of taxpayer funds as "anti-free market" --- DUH!!

We--THE TAXPAYERS--have footed two bailouts of more than 700 BILLION to keep these businesses THAT WERE GOING TO FAIL IN A FREE MARKET.

Get OUR MONEY back from these GREEDY you-know-whats!

7,000 FAMILIES could have $24,000 to live on this year with the AIG bonus ripoff.

The insanity of over reacting to the false bonus story is fueled by irresponsible media. We are in a desperate time in America - and our desperation is fueled by irresponsible reporting. At this time in our history we desperately need a free press that is responsible and accurate. ................

http://thefiresidepost.com/2009/03/21/rovian-media-applying-the-dark-arts-to-aig/

We want money back from AIG. We want auto workers to give up their benefits. When is FSGU (Federal & State Government Union) going to give up something? How about their perks? Health benefits...why should we have to pay for their health benefits? President Obama needs to hit his own home with cuts. His wife made $300,000 last year. Why are we paying for their health care?I would like for someone to do the math of how much money do the american people pay for State and Federal Health Benefits for our Elected officials.

On CNN Newsroom, Fredricka Whitfield advanced the false Republican accusation that Democrats created the right for AIG to pay bonuses by passing the economic recovery act, asserting that Sen. Chris Dodd was "widely criticized for allowing the bonuses in the first place." In fact, AIG reportedly disclosed that it had entered into agreements to pay these bonuses more than a year ago, and the Bush Treasury department approved of the AIG bailout with this agreement in place. Furthermore, the relevant provision in the recovery act, which was based on an amendment by Dodd, actually restricted the ability of companies receiving money from TARP to award bonuses in the future.

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The Dodd provision restricted bonuses - the Treasury modification that Dodd agreed to put in limited those restrictions to future bonuses.

The Original Dem via Frank provision was nothing over $500,000 in total annual payment for employment - and was shot down by the GOP and conservative Dems that are now again joined at the hip trying to destroy a public policy option for health insurance..

The Sen. Ron Wyden, Democrat of Oregon, and Sen. Olympia Snowe, Republican of Maine, Amendment - "that would have stopped the bonuses" - would have done no such thing. These two are liars.

The amendment required companies that received government rescue funds in 2008 to repay within four months any bonuses above $100,000 or face an excise tax of 35 percent on the portion of the bonus over $100,000.

Got that? - AIG - WHICH THE GOV OWNS 80% - would pay the Gov a fine! The bonuses would still be paid!

Are we tired of Media lies - of GOP LIES - of GOP lies told by the media as if they are truth?

Watch everything George writes he likes to twist the news a lot

The House legislation is just a typical CYA move after Secret Keeping didn't work. We, the taxpayers, need to be outraged at the system that failed. In this case government failed, free enterprise failed (if they hadn't received the tax money, they wouldn't have jobs much less bonuses so they aren't reaping rewards of capitalism), and the people failed to pay attention earlier.

what a joke.

in all other industries (aside from finance apparently), if a company does poorly, it affects the entire company's merit increases and bonuses. these banks should be no different. we should absolutely be going after ALL the bonuses given to employees of firms that received TARP money.

the argument that only divisions that were responsible for the mess should be penalized is a farce. firms have multiple divisions and products to diversify risk for the ENTIRE company. if not, the "profitable" divisions should have been spun out or should have existed as separate companies.

furthermore, it would be a great thing if smaller banks do not take TARP money if they don't need it. think about that. what is anyone worried about that?

This whole phoney outrage over AIG by the Obama administration is a pathetic distraction, and political posturing.

The REAL outrage should be over the all the wasted pork/money Obama and clan are throwing out on useless garbage. And instead of Mr. Nero spending all jis time selling his fascist plan, maybe he should stay in DC and start acting like a leader. Oh sorry, I forgot he's only a puppet to the international bankers who really run this country.

It's obvious Obama and the rest of the slime in Washington aren't really serious about fixing this economy. If they were, the Federal Reserve would have been abollished by now. They are the ones manipulating the economy for their benefit. They are the ones who created this mess. Meanwhile our tax dollars are being used to line the pockets of foreign banks. The REAL outrage should be over the Federal Reserve's illegal Ponzi scheme. They have gotten away with their scam on the American people for too long.

I suppose we could just deposit our paychecks directly into AIG's account...

Chris Dudd (DEMOCRAT) approved the bonus plan. Not the Bush administration.

You may want to stop drinking the Kool Aid and stop blaming everything on Bush.

But then again, you're all liberals and don't like to take responsibility for yourselves, so you have to blame someone else. Typical.

Remember, your lovely "most ethical congress" according to Princess Nancy took control in 2006. And ever since then, the country went south thanks to them.

Ex post facto. They can't pass a law then expect to punish people for breaking that law before it was even passed! Obama should know that.

Maybe too far, but its time the govt took its hysterics out on someone besides the people.

The AIG bonus tax may be dangerous? HELLO! This whole Administration is the clear and present danger!!!

George S....a true biased journalist. We all know that Georgie boy speaks with "forked tongue"....As long as the beloved liberal media is focused on Obama's outrage over AIG bonuses, then no one is actually paying attention to the fact that his stimulus will leave America bankrupt for our children and their children. Propaganda is alive and well in this country.

IF YOU'RE LOOKING FOR REAL JOURNALISM,YOU SHOULD LOG ONTO MEDIA MATTERS AND NEVER READ ANY OF THESE STUPID BLOGS AGAIN! THE REAL CULPRET IN THIS AIG MESS IS THE BUSH ADMINISTRATION; THEY WERE THE ONES WHO APPROVED THE FIRST BAILOUT OF AIG WHICH CONTAINED THESE EMPLOYEE BOUNUSES. BUT THE MAIN STREAM MEDIA INCLUDING ABC IS NOT INTERESTED IN REPORTING THOSE FACTS!

we should be just as worried that this administration, the House, and the Senate are spending money we don't have on programs that right at this minute are NOT the number 1 priority. Social spending is fine when it is merited, there is a need, and we already HAVE the money! What in Heaven's name does Nancy Pelosi's rat have to do with Healthcare or Housing or Education? A rat is a rat and they generally hang together. Why was it funded? And the rest of the bill. Shame on Obama for crying "wolf" two times already. The third time is the charm - get ready. One way or the other, change is going to happen.

The bonuses are less than 1% of the bailout money. The big story should be where is the other 99%. Yes, I'm outraged about the bonuses, but I'm more outrage about the other 99%.

Folks, since the corporate controlled media(George)won't tell you the truth about the economy, it's up to you to do some research.

The Federal Reserve (which isn't Federal, and is nothing more than a hand full of evil international bankers running an illegal banking cartel) manipulates the economy by purposely causing a bubble, then implodes it. They do this over and over again, meanwhile shearing the American people in the process. They've done this since the inception of the bogus Federal Reserve. Why do you think Obama has so many bankers in his administration? Think about it folks, things start to add up, and pieces start fitting together.

Listen to this audio for some insight: "The Creature from Jekyll Island - A Second Look at the Federal Reserve." http://video.google.com/videoplay?docid=-8484911570371055528&ei=0WHGSezMK6LcqAP5qdTlAQ&q=the+creature+from+jeckyl+island&hl=en

Excuse me JILL, but I think that the Democrats had already gotten their majority when that passed. Everyone came to the dance on this thing and we just need to realize that we screwed it up. Get on with it --- we elected Obama because he said 1. he could do more than one thing at a time, 2. he could fix the mess, 3. he was bringing change. Now, JUST DO IT! Stop spending money you have to print because we are broke. Democrats rule now, so forget Bush - he's gone, you won, and it is your game. So play it right or Obama will wish W were back in DC to punch around some more.

So let me get this straight. Its ok to tax only a % of the people but when it comes 2 taking away bonuses it affect every who has received one in the U.S.

Our government is so full of bull I would hate to be the "little guy"with the shovel looking for that pony.

What? Where was all the concern about singling out a segment of the population for higher taxation when it was tobacco and alcohol that were and are being taxed? It's nothing new. These bonuses are a kind of thievery called "unjustifiable compensation" under the law. It is illegal. TAKE IT BACK--IT IS OUR MONEY!
Regards, The Old Prospector

Tying more knots into this colossal Gordion's Knot will not make the job of undoing it any easier. On one end, people are working to untie -- while on the other, some continue to tie more knots -- all parties claming they have the solution to the puzzle.... Meanwhile, paralyzed into unconstructive weak utterings and limp-handed actions, the ship continues to slip unequivocally into the black deep of David Jones' Locker....

I think Obama, Todd and Barney Frank are the 3 biggest political recepients of AIG bailout money.

Will that get taxed at 90% too.

I think I will apply for more credit cards and spend and spend. If the government thinks this correct way to get out of this mess, it must be correct for me to do the same.