AIG Needs More Money?!
I'm all for the idea of capping the salaries of financial executives/management of companies that seek government assistance.
Here's my proposal – a $400,000 cap on GROSS INCOME. This includes bonuses. But rather than a hard cap, they can still make more than $400,000 per year, they'll just be taxed 80% on anything over that limit.
You want a $10,000,000 bonus? Yep, $8,000,000 of that is gonna pay down the national debt bitches!
spudart said,
That's a great idea on the tax.
It's also funny when small business owners complain about having to give a slightly larger percentage in taxes. I'm sorry, but if you are making that much money, you obviously are in a good situation. You can afford to give some of it back. And if there is a small business owner that makes over $400,000 (not to say small biz owners are the same as bankers), but if a small biz owner makes over $400,000, then that person should be reinvesting their money into the business and hiring more people rather than pocketing it for himself.
March 4, 2009 @ 7:24 am
sparx said,
Right? Taxes are a cost of doing business. They should be figured in from the start, it's not like any of these people are going to say "Well, if I *knew* that I was going to have to give an extra 3% of my *profits* to the government, I would have never started this business!"
The business profits are just that, BUSINESS profits. If taxes on the business profits affect the employee's take home pay significantly… well, then the business owner is an idiot. And if it's the small biz owner doing the complaining.. lame.
March 4, 2009 @ 7:28 am
cactus joe said,
SPARXMIND FOR PRESIDENT IN 2012!!!
March 4, 2009 @ 9:12 am
cactus joe said,
I am always amazed by people's idiocy on the idea of taxation. You can only be taxed on PROFITS. Costs are deducted out in advance and anything left over is taxed. in debt? no tax. so you really can't make the case that higher taxes affect costs for employees and health care etc. because those are givens. you could argue higher tax leaves less money for re-investment in the company, but lo and behold, money reinvested in the company is also a COST and also not taxed. so companies are actually encouraged to re-invest by higher taxes. lower taxes will make them want to pocket more of it. this stuff is not as complicated as corporate media would have you think.
March 4, 2009 @ 9:18 am
sparx said,
sparx won't be old enough to run for president in 2012.. I will be in 2020.. 2018 actually, but there's no election that year. I don't plan on running in 2020 anyway.
March 4, 2009 @ 9:25 am
sparx said,
I don't think people understand taxes at all. It's amazing.
Do you have any idea how many people don't know how the tax brackets work?
Too many people think that if you're taxed at 5% for $10,000 and 7% for anything over $10,000 that by making $10,001 they lose money. I'm just pulling those numbers out of nowhere as an easy example, but what would really happen in that case is the $10,000 would be taxed at 5% and the $1 would be taxed at 7%. You can't LOSE money by earning more.
March 4, 2009 @ 9:28 am