Good morning, all
There is an interesting Quick Poll on CNN.com this morning.
Would you support a special tax on AIG executives to recoup bonus money paid to them? Yes or No?
CNN only asks yes or no but I'd like to know WHY you are answering YES or NO.
Personally, I am all for it.
I think AIG continuing to pay out bonuses with the use of tax payer money that was provided to them to rebuild is the most disgusting and appalling thing. I don't even have words to describe it. With everything currently going on, these executives, who probably make way more money then they should anyway, should have forfeited thier bonuses. Shouldn't they be happy that they have a job at all when millions of people who are out of work have just paid taxes that paid thier bonuses? Makes no sense to me.
If the government has no other legal way to get that money back, then highly taxing these people is the right way to go. Or, revoke the next portion of AIG's bailout and tell AIG that they can get the rest of thier bailout money from thier highly paid and bonus-ed executives.
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Comments: 18
What bothers me about this is that the bonuses are less than 1/10 of 1% of the bailout money, and the country with Obama's help is angry about that. What about being angry that half the bailout money for AIG went to bail out FOREIGN banks? What about the 93 million AIG gave to EUROPEAN banks? The huge upset over the bonuses is just a cover to turn our eyes away from how our tax dollars are bailing out other countries. It's all part of the socialist agenda.
However, I think the loans should go towards actual needs, and a party or a huge bonus (which is NOT required, or it'd be called Salary), and over the top salaries are not needs. They're wants.
I think the money should come with heavy and serious stipulations stating what exactly the money is allowed to be used for. I think that if a US company takes a loan from the government to stay afloat, they should have to shut down any foreign entities before they resort to laying people off, or shutting down US entities.
Congress needs to admit to their mistake and go on.
http://www.cnn.com/2009/POLITICS/03/17/aig.bonuses/index.html
Today during the hearing with the AIG CEO, he said these people were indispensable to the task at hand, therefore they were required to pay these retention bonuses in order to keep these folks in place to complete their work.
Since the Federal Government owns the major interest in this company, couldn't they simply institute a 'stop loss' program ?
It sure seems comparable to me.
There are so many folks living in tents and cars. why cant those bonuses be given to get these people back on their feet??
However, they are contracturally obligated to pay them, so we haven't got a choice in the matter. The time to object was BEFORE we gave them a dollar in TARP funds. We should have written in strict guidelines as to how the money should be spent.
The fact that the first thing they did after leaving DC with the check was to go on a luxury retreat should also have clued us in. These bozos are nuts if they thought that the American taxpayer would continue to put up with this kind of behavior. But then again, they added all these "golden parachute" clauses to their contracts despite the fact that they were acting against their stockholders' best interests, so maybe they weren't too far off in gauging our gullibility.