Headline DS Edition #50 - Bonus Tax

AIG week ends here at Headline DS with "Big Bonus Tax Ok'd by House" from the March 20, 2009 edition of the Express. The House passed a bill yesterday that would levy a 90% tax on bonuses paid out to workers who earn more than $250,000 in annual income and who work in companies that received more than $5 billion in bail out money. A similar bill goes up for vote in the Senate.

This sounds a bit crazy. Certainly the measure reflects public outrage against AIG. But this sets up a dangerous precedent for singling out companies just because we don't like them. Congress should be a little more cautious than to respond directly to mob outrage. Setting up an additional tax structure like this could create more future problems than it solves. At this point, it'd probably be easier to let AIG fail.

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Headline DS Edition #49 - AIG Gives Back

AIG week continues here at Headline DS with "AIG CEO: Bonuses Returned," a headline from the March 19, 2009 edition of the Express. AIG CEO Edward Liddy requested that any AIG employee who received $100,000 or more in bonuses to return at least half that money. According to Liddy, who came out of retirement to help clean up AIG's mess receiving $1 annually in compensation, many have given back their entire bonus. I have to say, I'm surprised and impressed. Shouldn't have happened in the first place, but I'm impressed they're giving the money back. I guess they're not all evil on purpose.

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Headline DS Edition #48 - Give Back Bonuses

I figured it was going to be an AIG week and the headlines do not disappoint. "Dems Say Give Back Bonuses" is from the March 18, 2009 edition of the Express. Congress is asking AIG execs to voluntarily give back the $165M in bonuses they paid out last Friday. According to the NY attorney general, 73% of AIG employees received at least 1 million dollars in bonus checks last Friday. Congressional Democrats are threatening to tax the crap out of them if they don't give up the bonuses themselves. Gee, who'd have thunk that AIG would act irresponsibly with billions of dollars of bail out money. Oh, how about anyone with a freaking brain! No good could have come with handing these idiots a sack of free cash! Distributed by

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Headline DS Edition #47 - Obama Slams AIG

"Obama Slams AIG 'Outrage'" is from the March 17, 2009 Editon of the Express. Obama has ordered Treasury Secretary Geitner to figure out a legal means to prevent AIG from handing out $165M in bonuses giving me a chance to draw Obama dropping the "People's Elbow" on AIG fat cats. This is what I don't understand. If the federal government now owns a 80% stake in the company, why can't it just tell AIG to stop screwing around? Ah well. I have a feeling it's going to be an AIG week here at Headline DS.

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Headline DS Edition #46 - AIG Fat Cat Bonus

"AIG to Pay $165M in Bonuses" is from the the March 16, 2009 edition of the Express. It's upsetting to say the least to know that tax payer money is going to pay the bonuses of these execs who are responsible for getting us into this mess in the first place. Shouldn't they be fired rather than rewarded? I guess I don't understand the intricacies of the banking world, but it seems backwards to get bonuses for utterly failing.

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