Do you think the Congress apply 90% tax on the AIG's bonuses reasonable?

nyting · 03-20-2009, 06:26 AM

I tried not to think about the past 6, or at least the past 3 months about the financial crisis around the world. Especially those who have investment in the stock market are not happy at all... First of all, I am not related to any financial institution or not a financial analysts. These up and down-turn are like a cycle; it happens every 8 to 12 years; but this time, it reveals the bad practices of the US Banking System.

I was watching Jay Leno's tonight, with President Obama as the guest; then I remember the Congress passed the law to take away (tax) 90% of the bonuses received by the AIG's executives. I have the same question in mind as Leno -- It's kind of scary, as an American citizen, the Congress can pass a law or bill within a day; taken away whatever a group of people (the AIG's Executives) have from their hands. Well, of course the President did not answer the question (that's what a politician does when he/she doesn't have the answer yet.) I mean, there are definitely some high-ranked executives in this group, follow and play by the rules in the industry. These hard-working brokers, investors, and executive absolutely deserve 100% of these high bonuses. Does this new law apply to the honest workforce as well?

In a second thought, taken away 90% of these "illegal" bonuses back to the investors or to the banks are a reasonable publishment. However, does it sound like the Congress, become a group of Communists from the mainland China back in the 1960s, labeling people (the wealthies, the top ranks, the scholars, etc.) then took away whatever they have within a day or week of time...

My question again is, is this reasonable to all the financial professional?

03-20-2009, 06:26 AM	#1
nyting Active Warrior Join Date: Feb 2009 Location: California Posts: 39 Blog Entries: 12 Thanks: 3 Thanked 1 Time in 1 Post Social Networking	Do you think the Congress apply 90% tax on the AIG's bonuses reasonable? I tried not to think about the past 6, or at least the past 3 months about the financial crisis around the world. Especially those who have investment in the stock market are not happy at all... First of all, I am not related to any financial institution or not a financial analysts. These up and down-turn are like a cycle; it happens every 8 to 12 years; but this time, it reveals the bad practices of the US Banking System. I was watching Jay Leno's tonight, with President Obama as the guest; then I remember the Congress passed the law to take away (tax) 90% of the bonuses received by the AIG's executives. I have the same question in mind as Leno -- It's kind of scary, as an American citizen, the Congress can pass a law or bill within a day; taken away whatever a group of people (the AIG's Executives) have from their hands. Well, of course the President did not answer the question (that's what a politician does when he/she doesn't have the answer yet.) I mean, there are definitely some high-ranked executives in this group, follow and play by the rules in the industry. These hard-working brokers, investors, and executive absolutely deserve 100% of these high bonuses. Does this new law apply to the honest workforce as well? In a second thought, taken away 90% of these "illegal" bonuses back to the investors or to the banks are a reasonable publishment. However, does it sound like the Congress, become a group of Communists from the mainland China back in the 1960s, labeling people (the wealthies, the top ranks, the scholars, etc.) then took away whatever they have within a day or week of time... My question again is, is this reasonable to all the financial professional?
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