90% tax on wall street workers - how does this affect traders?

Quote from Landis82:


...My guess is that Pelosi just got half the House Republicans to fall into the "trap" of authorizing a tax increase ( from 35% to 90% ) knowing full well that it won't even get to a vote in the Senate.

Too funny.
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By Ryan J. Donmoyer

"March 20 (Bloomberg) -- The Senate plans to vote next week on steep levies on employee bonuses after the House overwhelmingly approved a 90 percent tax on bonuses at American International Group Inc. and other companies receiving bailout funds."

Isn't Pelosi Speaker of the House?
Isn't the House controlled by the democrats?

Is it not possible that Pelosi herself doesn't understand the constitution?

That's not so funny.
 
Quote from theDudeAbides:


Large financial institutions are comprised of hundreds of groups....many of which are wildly profitable. So, tell me, as a shareholder in xyz bank, do you want the truly talented revenue generators to leave?
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Most of these failed institutions should have been closed or merged into others, rather than bailed out.

Just how wildly talented to you think these revenue generators ARE at AIG? For heaven sakes, we are nearing $200 billion in taxpayer money for ONE ocmpany.

Bonuses should be reserved for companies that make profit. And given the difficulty of getting a job, I don't think most of these un-bonused people are going to find elsewhere to go. And bonuses are about to get much harder to come by.
 
What is "beyond stupidity" is to reward the politicians who are under the impression that govt. policy has not been responsible for the current economic calamity....This means not paying any sort of any benefit to any of them....and booting them out of office and possibly into jail time....

The public radar should include what causes the problems....Yes or No ?

If it has been the political side that has been responsible for 80% of the problems....

Then how can a remedy happen ? When only 20% of the problem is addressed ?

80% of the problems that are actually responsible get to be exempt from the causal equation ?

This is as stupid as it gets....

Stop the insanity !!!!!
 
Quote from Landis82:

You cannot tax a specific group of people after the fact.. It's unconstitutional.

See: Article I, Section 9, and Section 10.

An "ex post facto" law retroactively criminalizes an activity that was legal at the time the activity occurred. The payment of the AIG bonuses certainly was legal, seeing that the payments were specifically authorized by those now pretending to be in a lather over them.

My guess is that Pelosi just got half the House Republicans to fall into the "trap" of authorizing a tax increase ( from 35% to 90% ) knowing full well that it won't even get to a vote in the Senate.

Too funny.
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That's why they advised to pass the taxes BEFORE the AIG quarter report.
 
Quote from TraderZones:

Most of these failed institutions should have been closed or merged into others, rather than bailed out.

Just how wildly talented to you think these revenue generators ARE at AIG? For heaven sakes, we are nearing $200 billion in taxpayer money for ONE ocmpany.

Bonuses should be reserved for companies that make profit. And given the difficulty of getting a job, I don't think most of these un-bonused people are going to find elsewhere to go. And bonuses are about to get much harder to come by.
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I wasn't defending AIG actually. Sorry if you got that impression. Regarding AIG, a contract is a contract and the pols knew about them, without a doubt. What should have happened was a renegotiation prior to the bailout. Our friends in DC realize this and that's the reason why they are heading for cover.

Regarding your last point, I disagree, bonuses are for members of a profitable department within a company.
 
this tax bill is just a sleight of hand diversion tactic to divert attention away from the real criminals:

joe cassano
jimmy cayne
stan oneil
hank paulson
bob rubin
lloyd blankstein
chucky prince
angelo mozzillo
nearly all of congress
 
Quote from chewbacca:

this tax bill is just a sleight of hand diversion tactic to divert attention away from the real criminals:
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This whole entire thing is a sleight of hand diversionary tactic trying to keep our attention away from the fact that we are so broke we are now having to loan ourselves money to buy finance our own shit. How exactly does this work in the long run? The whole shit storm over the bonus is a sleight of hand to get us worked up about $165million, when we should be worked up about TRILLIONS.
AIG has become nothing but a giant US Government money laundering machine that's being used to bail out sovereign wealth funds and big banks without them having to use TARP.
This whole thing is a slieght of hand to divert our attention away from the fact that the Obama Administration is on track to make the Bush Administration look like a bunch of genious (and that takes something!). Where is the outrage over the numbers that GAO gave us today? $10 TRILLION dollars in debt?
The Chinese are wising up and diversifying out of US Treasury assets. I suspect a bunch of money can be made long term by betting on hyper inflation.
Brandon
 
This law is like a second prescription to treat the side-effects of the first one. Pretty soon you're taking 6 pills a meal to counteract all the side effects.

How about stop taking drugs, eat healthy and exercise.

But that requires your dealer to admit he's part of the problem.

[dang, talking in metaphor is tiring I dunno how Dr.Phil does it...]:cool:
 
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