If we ignore the politics that drive the strong opinions on both sides of the AIG Bonus Tax for a minute and focus on how this new tax skews people’s work incentives, perhaps we can come to an agreement that this solution that was rushed through the House last week is just downright stupid. I’ll let the WSJ explain.
[Read More...]A 90% tax is downright stupid, creating bizarre disincentives. Exhibit A? That would be me. Once my total income hits $250,000 for the current…
With all of the recent doom and gloom about how our government (even with “the chosen one” as our President) is falling flat on its face by failing left and right, I figured I would find some positive news for us. This short article in the Washington Post makes a couple of great points:
[Read More...]“U.S. stocks posted the first back-to-back weekly rally of the year after the Federal Reserve said it would buy $1 trillion in bonds and after a report showed…
As you may have read in my previous post regarding AIG, I see little wrong with the contracts that were written a year ago under US Government supervision for AIG executive bonuses. To top it off, the US House of Representatives has passed a MASSIVE surtax on bonuses - a type of ‘Salary Cap’ if you will. I found a solid article in the Wall Street Journal regarding the issue, here are a couple quotes:
[Read More...]“The House passed legislation on Thursday…
I was asked twice yesterday about my opinion on the AIG Bonuses so I figured I would put something together.
I am using the following 2 articles as the basis:
- New York Times, In Online Forums, AIG Bonuses Touch a Nerve
- CNN, 73 at AIG Received Bonuses of $1M or More
Here are the facts that I have come up with:
1. “The insurer has accepted more than $170 billion in U.S. government funding, and government officials have said they may have to…
On Thursday, a former guest blogger and current Bank of America employee forwarded me a blog post that explains why nationalizing our countries banks would have profound effects on everyone. I found the post to be a very informative read and I recommend it to anyone who wants to have some basic dinner table knowledge on the subject. However, there is one part that I disagree with:
[Read More...]A government takeover would vaporize a lot of wealth.
This is why the markets freak out every time…
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