Liz-Vision
  • March 20, 2009 11:32 AM EDT by Liz Claman

    Now What?

    What do you think?

    Do we tax the heck out of Wall Street bonuses? The House overwhelmingly passed legislation yesterday that would tax bonuses at a rate of 90%. Who gets hit? Any employee who earns more than $250,000 at a company that has received at least $5 billion from the government, i.e. YOU THE TAXPAYER.

    But, be careful of  'Ye olde Unintended Consequences' issue. If this passes in the house, lot sof people who might otherwise have spent that money will have less of it. I'm not weeping for them, I'm just wondering if we don't then further hurt the economy.

    Look, I am SO TORN about this bonus-gate thing. Specifically, the AIG bonuses are an outrage because one could argue AIG brought us all down back in September. Forget Bear and Lehman, AIG is the real sucking sound you hear when it comes to TARP money disappearing. And the fact that the millions in bonuses are going to the very team that created all the cryptonite that brought the U.S. down to its knees.  But is this the right thing upon which we should be focusing? I think it's *part* of the issue, but we need to focus on getting this economy back on track too.

    How do we do it?

    --Liz

chuck

Hey it's time for the constutients to ask these goofy senators faking thier anger over this AIG mess the when and where they know it question. Instead of acting like they're with the angry masses. What about those innoncent employees who got deserved bonuses? Who's speaking for them?

March 25, 2009 at 7:57 pm

Mike Redd

What should happen is Congress should establish guidelines for receiving federal loans: term of loan, ancillary expenses such as bonuses, acquisitions, and any other jettison the accountants want to add targeted at adverse consequences for relying on the government for help. The stricter the better. Then, hold companies accountable or break them up, replace top management, then get out of the way. The free market works especially when they have their own bank and borrowing won't last long when the borrowers recognize they cannot profit from the loan.

March 24, 2009 at 8:00 pm

Kris H

Liz, I have to agree with Robert M. above. More than likely anyone who is affected by this taxation will face no real repercussions of their actions from the company themselves, so they have to have their 'punishment' meted out someway. The way the Government is handling this whole fracas is a joke anyways. We're shoring up companies who mishandled money, and more than likely will mishandle the TARP funding as well. It's kind of like giving the crack addict more crack in the hopes that he'll learn to get off the stuff. The rich are still getting richer, and I, as a poor person, am not seeing a single cent of this stimulus package. Funding companies who made poor decisions aren't helping me keep my house from being foreclosed, nor is it helping me keep food on my table. This is a scene being repeated all over this great nation of ours, and sadly, it will keep on repeating. The folks in Washington do not care about their voters, they care about their investments and are doing everything they can to make sure that they have a nice nest egg to retire on once the country runs out of money. Sadly, I think we have the biggest lot of snake-oil salesmen in office today from the top all the way down to the House. They sold us on the idea that they can make things better, and it's only gotten worse for us little people.

March 24, 2009 at 12:30 am

Pamela

AIG bonuses are world-wide. Congress can only tax money in the USA. The guys in Europe are laughing their fool heads off.

March 22, 2009 at 6:22 pm

T.D.

Liz, How do you keep looking so super hot!!!! You just have the total package - smarts, pretty, great red hair, beautiful smile, great legs, and well you know.... A loyal and adoring fan from the CNBC days. TD

March 22, 2009 at 11:12 am

cosmicdebris

Dear Liz, i am just a rancher that drives in circles on a tractor, but it is clear to me that the reason we are paying out money to foreign contries is, #1 contract law, which provides a cover for our secretary of state, one must remember that Billary and Obama are doing the Cokla-Cola commercerial where we are one world singing to-geithner...oops i did it again! Anyhoo believe me we are contributing to the ones who bought into AIG bs, is because we want to do the impossible, there are two things in this world one cannot buy Love or Friendship, but because the folks I am speaking of have been outside of the real world long enough to believe that they can fix things we are in for a big lets say RAVE......You have a beautiful smile and that is the one thing that will carry you all the way.

March 21, 2009 at 11:23 pm

about this blog

  • Liz Claman joined FOX Business Network (FBN) as an anchor in October 2007. Her debut included an exclusive interview with Berkshire Hathaway CEO and legendary investor Warren Buffett.

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