Obama intends to veto the bonus tax bill

[Toro]

has the senate even passed this mess yet?
lets hope it never get to Obama to sign or veto

The Senate has not passed a bill yet.

 

[Toro]

It was an idiotic bill you say? So you are in favor of us, the taxpayer, paying the bonuses of AIG executives?

No I am in favor of

- abiding by contracts and not having those contracts broken by government on a whim
- not targeting specific individuals through the tax code
- wanting to get the economy moving again by encouraging private capital to come back into the financial system. This bill inhibits this process because it sends a very strong signal to private investors that their pay (and their spouses pay) might be expropriated if it offends the sensibilities of Congress, which completely works against all the programs the government has been creating, i.e. TALF, TARP, to rescue the financial system.

It is an idiotic bill and should not pass.

BTW, when the news of this broke, the stock prices of banks that have taken TARP money dramatically underperformed those that did not. Bad, bad stuff.

 

[Jon]

I'm torn. I'm outraged that the idiotic Congress let this happen, but at the same time, taxing these people specifically is setting a bad precedent for future screw-ups.

Sadly, I think the public is going to have to choke on this one and learn its lesson. To everyone who supported these bailouts: here are your results. You've allowed corruption to continue by electing the corrupt. Congratulations. Have you learned your lesson yet?

Probably not, but I'm sure you'll keep looking for someone to blame instead of holding the mirror in front of your face and blaming who's really at fault.

 

[DiveCon]

has the senate even passed this mess yet?
lets hope it never get to Obama to sign or veto

The Senate has not passed a bill yet.

good, maybe we'll get lucky and they wont

 

[Skeptik]

Here is a good illustration of the situation:

 

[Sinatra]

Here is a good illustration of the situation:

AWESOME cartoon.

That sums up this fiasco perfectly!

 

[Yurt]

Here is a good illustration of the situation:

 

[auditor0007]

Just out, Obama intends to veto, ie: kill the bonus tax bill.

I no longer question if Washington or this Administration is corrupt. I now know all I need to know.

Obama gets a star! Let me add it to his overall 'star list':

Current Number of Stars: -1,423,872,345,981

Number of stars added: +1

Number of Stars Obama has as of now: -1,423,872,345,980

Good one.

 

[johnn1]

I still can't grasp that he has the right to veto anything. sorry.

 

[DiveCon]

I still can't grasp that he has the right to veto anything. sorry.

why not?

 

[RetiredGySgt]

It was an idiotic bill you say? So you are in favor of us, the taxpayer, paying the bonuses of AIG executives?

WTH is wrong with this country????

ARE YOU in favor of Unconstitutional laws cause you are mad?

 

[Luissa]

Just out, Obama intends to veto, ie: kill the bonus tax bill.

I no longer question if Washington or this Administration is corrupt. I now know all I need to know.

Wouldn't passing the bill set a bad precedent, though?

That is what I was thinking. Plus I wonder if it is even legal, I mean it might be.

I don't think they should of got the money but is this way to get it back?

 

[Caskey100]

I stil don't know what to think of this mess. It is obvious that corporations don't give a rats ass anymore and will do whatevr they want with any money they can get their hands on. Maybey we should just let the economy hit rock bottom and start from scratch.

 

[Kevin_Kennedy]

I stil don't know what to think of this mess. It is obvious that corporations don't give a rats ass anymore and will do whatevr they want with any money they can get their hands on. Maybey we should just let the economy hit rock bottom and start from scratch.

The contracts were made before the bailouts happened, had the government not given them the money then it wouldn't have been an issue in the first place.

 

[Caskey100]

Weren't they considered performance based bonuses also???? If so how can one justify that any AIG exec. desserved a bonus based on performance.

 

[DiveCon]

Weren't they considered performance based bonuses also???? If so how can one justify that any AIG exec. desserved a bonus based on performance.

no, they were not performance based

 

[Caskey100]

Weren't they considered performance based bonuses also???? If so how can one justify that any AIG exec. desserved a bonus based on performance.

no, they were not performance based

Ok thanks for clearing that up for me. I haven't been following this story too much as I am getting sick of the word(s): bailout, bonus, corporate, AIG, & corruption. All of which this story contains. Guess I may hve to read up on it anyways.

 

[wimpy77]

i hope he infact does veto the bill.

 

[Sinatra]

He should veto it - but in doing so, he has painted himself into a difficult corner on this one.

My guess is he is pushing the Democrat Senate to bury the thing so it will never come to that.

Just let the damn thing sit until the economy starts to sputter back to life (signs are it is doing that already) and soon the AIG stuff will be out of sight and out of mind.

Except for those of us paying attention...

 

[Xenophon]

It was an idiotic bill you say? So you are in favor of us, the taxpayer, paying the bonuses of AIG executives?

WTH is wrong with this country????

What is wrong is the stupid gov makes idiot moves, and when it sees the outrage of the mistakes, tries to break the law to correct their own faults.

You don't get 'do overs' in the law, you have to get it right the first time.