Word has leaked out that President Obama’s plan to recoup federal bailout money to Wall Street will include a fee on certain sorts of bank transactions, but won’t include any tax on excessively large bonuses for Wall Street executives. This plan would punish the banks as institutions, while leaving the executives who have led their firms into risky investments protected.
U.S. Representative and former presidential candidate Dennis Kucinich has come up with another plan: Create a 75 percent tax on excessive Wall Street bonuses for executives, while leaving the financial institutions as a whole unaffected.
Which approach do you favor, and why?
the taxes on the transactions become a tax to the comman man. Do you really think these banks will just pay the tax and move on? No, they will pass the tax on to its customers meaning that people like you and I will ultimatly pay it.
If we are talking about bonuses, then yes tax them. It will be the only chance to tax them as they are then turned into “trust shelters” that can only be taxed when taken out. While we are at it let’s tax all salaries and compensations given to those in the House and Senate. They are quite lucrative, and as compensations are given to them by the taxpayers, they should have to pay their fair share of taxes on these compensations
they use the arguement that if they don’t pay out huge bonus’ they will lose critical employees. i say, just like when we jail a drug kingpin, there are a dozen waiting in the wings to take their place.
punish both the banks and the executives who led the banks and the nation to the brink of global depression. and if they want to continue to do business, bring new leadership in from the rank and file. you know, the people that were actually doing the work and probably trying to tell their superiors how bad their dicisions were.