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Monday, March 23, 2009

AIG punitive bonus tax

Wednesday night on Jay Leno President Obama avoided the answer to Jay’s direct question about Congress’s taxing a selected group of citizens just because they’re mad at them.

President Obama on Thursday commended the House for passing the measure.

"Today's vote rightly reflects the outrage that so many feel over the lavish bonuses that AIG provided its employees at the expense of the taxpayers who have kept this failed company afloat," he said. "I look forward to receiving a final product that will serve as a strong signal to the executives who run these firms that such compensation will not be tolerated."

http://www.cnn.com/2009/POLITICS/03/20/bonus.bill/index.html

But on Sunday’s 60 Minutes he said:

The president also stressed that his administration won't endorse a House bill that would levy a 90 percent tax on bonuses paid out by companies that receive bailout money.

"As a general proposition, you don't want to be passing laws that are just targeting a handful of individuals," Obama said. "You want to pass laws that have some broad applicability ... you certainly don't want to use the tax code to punish people."

http://www.cnn.com/2009/POLITICS/03/22/obama.60.minutes/index.html

Which is it BARRY? Are we taxing/punishing them or not?

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