For those who want to wash the image of Barney Frank out of their mind.
Senate Majority Leader Harry Reid , D-Nev., said Tuesday morning on the Senate floor that Finance Committee Chairman Max Baucus , D-Mont., will release a proposal on AIG within the next 24 hours that “will certainly send a message.”
Baucus, speaking at Finance Committee hearing, said he was looking “very closely” at tax options to go after the bonuses, indicating he may look to impose an excise tax on the company.
“The country is angry,” Baucus said. “Individual Americans are angry. I am angry.”
Sen. Charles E. Grassley , R-Iowa, the panel’s ranking member, said he supported Baucus’ efforts.
“I want to back you up on looking into that and doing what we can to make sure these things don’t happen in the future,” Grassley said.
Monday night, Senate Banking Chairman Christopher J. Dodd , D-Conn., and Charles E. Schumer , D-N.Y., one of his senior panel members, both indicated they were open the idea of tax-based legislation to recoup the bonus money.
But Dodd pointed out several potential pitfalls with to consider in designing the legislation.
“A number of the people may not be U.S. citizens, which may cause a problem,” Dodd said.
“The second issue is if we tax the company — we own the company — are we taxing ourselves? Which raises some issues as well,” he added.
http://www.cqpolitics.com/wmspage.cfm?parm1=1&docID=news-000003076758
I don’t get it Rush, I doubt many people are upset with the bonuses, they’re pissed about the bailouts to begin with. What a distraction. While we’re looking here O takes guns out of planes, nobody notices. I know you get it Rush but shine the light where it belongs.
For those who want to wash the image of Barney Frank out of their mind.