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Tax AIG Bonuses at 100%

March 16th, 2009

aigMost of you have heard that AIG which the US owns 80% of and has received $170 billion in bailout money is giving out $165 million in bonuses to traders in their financial products division. The same traders that played a role in creating complicated deals that lead to the economic downturn. So what are we to do about this now? What action can we take?

Rep. Carolyn Maloney has suggested getting the money back by taxing those bonuses at 100%. The bill would tax the bonuses given out at any company that is more than 50% owned by the US. I think the ideal situation would be that AIG crumples under the outrage of the public and the action of our government. If they know that they can’t get away with this then hopefully they will back down. However, if they don’t I think the 100% tax is a pretty good idea. What are your thoughts?

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