Venting their outrage, lawmakers are preparing to slap heavy taxes on employee bonuses at insurance giant AIG and at other companies that have received large bailout packages from the government.
The House was scheduled to vote Thursday on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money.
This from a group of people who have no qualms about voting themselves sky-high raises year after year.
Not that I'm a defender of the AIG bonuses - they're outrageous - but I can't get behind using the Tax Code as a hammer for revenge. Who'll be next?
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