Quote:
Originally Posted by Duke41
I want to puke too. Why don't the crybabies from AIG who ran their company into the ground come over to my house so I can hand them the 40 grand or so we pay in taxes. Because I love to see my hard earned money pissed away on the bailout of AIG. It has been bad enough watching it wasted on some BS war in Iraq, now we have this crap. I hope they will be okay I would hate to see someone lose their yacht or vacation home just because their poorly run, bumbling, insolvent company ran itself into the ground. Maybe we should start an AIG bonus charity.
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Duke, you're listenting to the voice of the lynch mob and not reality. This is NOT only AIG, its all TARP money. Bank of AMerica, JP Morgan and many other banks were not going out of business. The TARP money was not for payroll, but to allow more credit into the market place. Many of their business lines were extremely profitable! This is not "executives" as they are leading you to beleive. This is FAMILY income. So if someone makes 50K at Bank of America and gets a 5K bonus, and their spouse is a CPA and makes 200K per year, that B of A employee will get that bonus taxed 90%. Think of the legal issues this causes! That person will "make" less money than their coworkers. How can you have people in the same job getting paid different salaries? How can these banks know what the "family" income is?
Banks and financial services are hardest hit by layoffs. However, there is no reduction in the work! So people are working overtime, which they dont get paid for, to make up for the lack of employees. Now, if you take away the bonus opportunity, why would they work extra? Whats the incentive for anyone at JP Morgan, Citibank, Wells, B of A. to work hard? How are "your tax dollars" going to benefit if these companies arent productive? This has ripple effects that our brilliant congressmen spent 40 minutes to debate. If you think your tax dollars are wasted on the bonuses, wait until you see the waste on legal fees. In the end, this moves NO ONE forward. It will hurt productivity in an industry that needs to move this economy forward.
Nevermind that fact that the US Government HAS NO LEGAL RIGHT TO DO THIS!!!!!!!!!!!!!!!!!!
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