Free Republic

A whopping one in four hedge funds have left London because of the 50% bonus tax, or coincidentally since the tax was instituted. Brevan Howard, Moore Capital, and Michael Platt's BlueCrest are the biggest fund names to leave for more profittable pastures in Switzerland, but clearly they are three of many. And losing them is costing the city tons of money and pride - their tax is totally backfiring. At some point they're going to break even, if they haven't already. We predicted the loss in taxes for London was up to £400 million in July, based on the city...

From the White House through the halls of Congress, Washington is losing its zeal for an all-out fight over hefty executive bonuses, now that it wants the financial companies it blames for the collapse of the U.S. economy to help clean up the mess. The House Financial Services Committee on Thursday adopted a milder alternative to a bill passed last week that would have taxed away 90 percent of employee bonuses from companies getting federal bailout money. The new legislation would let bailed-out companies pay bonuses as long as the government determines the compensation is not "unreasonable or excessive." Just...

"An unlimited power to tax involves, necessarily, a power to destroy." -- Daniel Webster Obama and Company have piled one mistake on top of another with AIG. First off, they should have never pumped 173 billion dollars into AIG in the first place. At best, we should have used loans and insurance to help keep them solvent. At worst, we should have let them go under -- but instead, the government chose to buy into AIG. Then, Chris Dodd and the Obama Administration worked together to protect the bonuses at companies like AIG without realizing it would become a hot...

You can find the full roll call vote on HR 1586, tax cheat Charlie Rangel’s ass-covering, after-the-fact AIG bonus tax here. I have broken out the 85 Republicans (led by GOP Minority Whip Eric Cantor) who voted with Rangel and the Democrat demagogues.