Posted on 03/20/2009 9:39:39 PM PDT by sickoflibs
President Barack Obama says the House's vote to slap a hefty tax on lavish employee bonuses "rightly reflects the outrage" that so many people feel about insurance giant AIG.
House lawmakers voted decisively Thursday to impose a 90 percent tax on millions of dollars in employee bonuses paid by troubled insurance giant AIG and other bailed-out companies.
Noting that the legislation now moves to the Senate, Obama said he looks forward to receiving a final bill. He said he wants to receive legislation that will send a strong signal to business executives "that such compensation will not be tolerated."
Obama said in his statement that excessive bonuses are part of a larger problem of valuing "reckless speculation" over hard work.
The bill Thursday slaps punishing taxes on big employee bonuses at firms bailed out by taxpayers. It would impose a 90 percent tax on bonuses given to employees with family incomes above $250,000 at American International Group and other companies that have received at least $5 billion in government bailout money.
"We want our money back now for the taxpayers," House Speaker Nancy Pelosi said.
Democrats led the charge in an attempt to get in front of raging public anger over the AIG bonuses, even though a provision that would have made such payouts illegal was stripped from last month's $787 billion stimulus bill by its Democratic sponsors.
(Excerpt) Read more at kdka.com ...
If you realize both parties in Washington think our money is theirs and you trust them to do the wrong thing, this list is for you.
If you think there is a Santa Claus who is going to get elected in Washington and cut a few taxes and spend a few trillion and jump start the economy, and get our lost money back, this list is not for you.
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Is this still america? Bad day at Black Rock? If the public does not see through this we are screwed.
I don’t think both parties are equally at fault regarding our money.
But President Obama, your Treasury Secretary negotiated the deal when he was president of the New York Federal Reserve Bank and Senator Dodd wrote legislation that specifically approved it and you signed it.
I suspect that the amount of Americans who are truly “outraged” by this made-up, over dramatized subject is equal to the amount the bonuses came to out of all the money given to AIG: one tenth of one percent of the entire population of the USA!
Distraction politics in motion—designed to keep your eyes on the hand that is moving and not on the one playing tricks on you!!!
“Highly Selective outrage”.... $162 Million AIG versus $2.5 Billion in Merrill bonuses
obozo knew. he lies before the cameras and his fawning supporters say “give me more lies”.
I'm not sure. I went out and checked my mailbox but it said.... Made in China!
Let’s get one thing straight.
Anytime a politico says we want to do something “for the taxpayers”, they are basically lying throught their teeth and pandering for votes.
Because the government has recently CREATED OUT OF THIN AIR HUNDREDS OF BILLIONS, IF NOT OVER A TRILLION “dollars” (computer credits???) to hand out to the banks.
So I think the rational view of all this is for the average American to decide that IN NO WAY, SHAPE, OR FORM will the governments actions in all this create any kind of liability whatever for himself. And to not fall for all the “for the taxpayer” rubbish. Nothing they are doing is “for the taxpayer”. It’s “for their banking buddies” and “to keep their own butts from getting run out of town on a rail”.
>President Barack Obama, who took office just under two months ago, told reporters Wednesday that his administration was not responsible for a lack of federal supervision of AIG that preceded the company’s demise.<
barney frank, chuck u schumer, chris dodd, fd raines, jaime gorelick, et al
are your party, obama.
not to mention you got money from fanny and freddy.
If AIG is such a poorly run company that it has to come begging the government to bail it out, then a lot of people there shouldn’t be drawing a paycheck, much less receiving a bonus.
But of course if we applied that rule to Congress, there wouldn’t be enough left to make quorum.
Really? Without mentioning democrats , who I agree are evil and dangerous, explain why republican deserve or earned the right to be trusted or given any power.
2008 losing theme : “Republicans are not as bad as democrats “
Meanwhile Congress gets away with it. :(
Welcome to the fascist state. :(
I still do not understand the Democrats or the Presidents statements.
Article 1, Section 9, Clause 3 of the U.S Constitution.. Makes this action technically.. ILLEGAL!
But since when do the Democrats acknowledge the Constitution?
RE “Anytime a politico says we want to do something “for the taxpayers”, they are basically lying throught their teeth and pandering for votes.”
That irks me too. “We are protecting the taxpayers” by dems enrages me it’s such a big lie,
Does not matter in the least if the Dems are in power or the pubbies, as far as this is concerned.
The banks got the guv by the short hairz.
All they gotta do is say to Granny Iowa next week when she comes in with her SS check “Sorry, Mrs. Adams. We are no longer cashing government issued checks.”
Then, all hell would break lose.
The banks know it.
The government knows it.
I suspect that is that is precisely the “catastrophe” that Bernanke mentioned to Congress last fall when the first bailout got rammed through.
Remember Democrat Harry Trueman? "The Buck stops here!" Those were the days when old wise men ran governments. Now, its "rock stars" and pretty people..
Yep. The coins will still work to some extent. Paper money will be worthless and forget about the electronic stuff...
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