House Approves 90% Tax On AIG Bonuses
This will learn 'em good: The House of Representatives just passed this "tax those fancy stockjobbers at the 90% rate" legislation, which means the federal money used to pay off these bailout bitches will now be taxed at 90% --if the bonus-getter's income is over $250,000, so Joe the Plumber is still safe from socialism -- which means the money will be filtered through these people who destroyed the Global Economy (with the permission of Alan Greenspan and Reagan's Ghost) for a !0% commission. So if your bonus for ruining Earth was, say, a million bucks this month, at least you'll still have a $100,000 left over for cocaine.
Amusingly, many Republicans voted for this thing -- it passed 328-93 -- despite the House GOP leaders whining about it and swearing the Republicans would fight it, AIG derivatives traders are America's only heroes, go Galt, Rush Limbaugh, etc.
This is all a puppet show, of course, and it probably won't ever make it through the Senate in anything resembling this version, and 90% of Americans are still poor as church mice. [Washington Post/Marketwatch]