Word: taxing
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Dates: during 2000-2009
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...reaction to the bonus issue is that Congress is in the midst of passing a bill to tax the payouts at a 90% rate, punishing people for taking money that they appeared to be entitled to and doing nothing to the management that agreed to the deals in the first place. The tax will not be the end of the blow-up. Indignation makes good theater for politicians and makes some of their more naive constituents think that their elected officials are looking after their best interests...
Members of Congress are talking up bills to levy a 90% or 100% tax on current bonuses at AIG and other financial-industry wards of the state. But if such selective tax increases are constitutional - and it appears that they can be - another approach would make far more sense (I am brazenly stealing it from financial blogger Steve Randy Waldman): impose a less punitive (50%?) but retroactive tax on the past four years of bonuses above a certain amount ($1 million?) paid out by any financial institution that receives a bailout. That is, spread the net wider to catch...
...retroactive tax would hit people who had nothing to do with the bets that pulled their firms under - but that's not all bad, because in the future it would give executives reason to keep a close eye on risks being taken elsewhere in their companies. Yeah, there are complications - the main one being that lots of highly paid employees of AIG, Citigroup and the like are overseas and not subject to U.S. taxes. But it's worth a try. If nothing else, it would give the outraged American electorate the sense that the responsible parties are paying for something...
...moral arguments and instead emphasized the social and economic costs of teen pregnancy. Researchers working with the National Campaign to Prevent Teen and Unplanned Pregnancy have calculated that in 2004 alone, teen pregnancies cost U.S. taxpayers more than $9 billion in health care, foster care, public assistance and lost tax revenue. The cost for South Carolina taxpayers that year came to $156 million...
...Does the comparatively modest nuisance caused by Thursday's action mean Sarkozy and the government can simply ignore the striking? Given the enormous turnout and rising public anger, pundits warn the answer is: No. Though Sarkozy granted $3.5 billon in additional tax cuts to workers following January's walk-out, unions denounce that as a pittance compared to the $35 billion poured into business investment under the government's economic stimulus package and $468 billion in aid handed to French banks and finance groups. The protesters now have three main demands: that major funding be given to employees to increase...