Congress’ passage of the Bonus Tax Bill has incited as much blogging rage as the AIG bonuses did. OK, maybe not quite as much, but there are still more than a few hot pistols discharging out there.
Henry Blodget on Clusterstock says it’s going to ding a lot of people who really don’t deserve to be dinged. He calls it the Populist Rage Tax:
If the “TARP bonus” bill the House passed today becomes law, any of the hundreds of thousands of people who work for Citigroup, Bank of America, AIG, and nine other major US corporations will have to fork over 90 cents of every bonus dollar that puts their household income over $250,000.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
