Imposing big taxes on Wall Street bankers' bonuses

#101

01/24/2010 :: 12:39:59 PM
Secretary Says:

The IRS loves people who get big bonuses. So does state and city governments. Bank of America took over a company where the average worker made $250,000 a year while those execs. at Bank of America were lucky to see $90,000 a year. Remember what happen to the Eron president, he was thrown down a flight of staries. Maybe these bankers should have a similar fate, there would not be a jury in the world that would convict the Adventure who did the deed.

#100

01/15/2010 :: 09:31:41 AM
Neolithic Cave Painter Says:

Tax? Yes, but understand that the over accumulation of wealth has dire consequences to society that a simple tax can not fix. The localization and decentralization of economy is a prime necessity. I would suggest we all google the word: PROUT to more clearly understand “progressive utilization”.

#99

01/15/2010 :: 09:25:08 AM
WENDELL FISH Says:

The government should confiscate the bonuses, arrest the top CEO’s and allow the poor and angry people who have lost everything because of the greedy actions of these elite pigs to lynch them in the public square.

#98

01/14/2010 :: 10:27:28 PM
Chuckles Says:

Why stop with the heavy taxing? The banks should be nationalized.

#97

01/14/2010 :: 09:02:36 PM
Joan Bossart Says:

So many good comments, but I’m shocked, shocked there aren’t more.
The government should tax the bonuses as much as it can, but in a way that prevents the greedy darlings from passing the tax on to their shareholders or customers.

#96

01/14/2010 :: 08:04:04 PM
Jacques Jaeger Says:

Bring our troops home from Irak and Afghanistan mr. President and use thme for all reconstruction work in Haiti and anywhere else around the world.
Let the FBI and the CIA do their work of preventing terrorists from overseas enter our contry. The Arab nations will self distruct in there hatred for each other.
Let us, the USA use our efforts and funds to do everything we can to build up all the nations of the America’s as equal and good neighbours.
BRING OUR TROOPS HOME PLEASE MR> PRESIDENT !!!

#95

01/14/2010 :: 04:44:05 PM
mike walker Says:

Financial reforms are long overdue. And the mega-banks had to be stabilized, they are too interconnected in the financial system we are all dependent on. After they are well, they should be broken up into smaller pieces so this cannot happen again — saw a cool site; Balkingpoints ; incredible satellite view of earth

#94

01/14/2010 :: 04:05:17 PM
ROBERT PICARD Says:

This is not a tax issue. It is criminal fraud and should be investigated as such by the Justice Department for the illegal use of public funds.

#93

01/14/2010 :: 03:02:03 PM
Lori Peters Says:

I am a mild conservative and a republican. Put an overall cap on the amount of bonuses a company can pay it’s employees and base it on a percentage of profits. Decide what that percentage should be set by the Government. Then, disperse bonuses individually based on each employees output in relation to the amount of profit that employee produced. If it is done in this manner, a company can still provide incentive, but they can no longer over inflate bonuses. Salaries, on the other had are no business of the government.

#92

01/14/2010 :: 02:45:56 PM
Tom VA Says:

And then the bankers pass on the cost to the consumer…..again.

#91

01/14/2010 :: 01:46:09 PM
Alistair McKay Says:

#85 You took the words right out of my mouth.

#90

01/14/2010 :: 12:58:10 PM
Connie Acton Says:

I agree with #84 who said the bank executive should be paid in their own troubles assets. That would be fair. On the other hand, I don’t think the government should dictate anything. It is up to the board of directors to determine what bonus’ should be and most often they haven’t been doing their jobs.

#89

01/14/2010 :: 10:54:33 AM
Jim Weekley Says:

I agree with # 85 Susan Allen - she is exactly correct with one exception. Since it was tax payer dollars that bailed them out - a “reasonable” tax should be imposed to recover money given to banks and investment houses that did a lousy job and still gave them and their staffs bonuses. But Susan is absolutely correct the government should get out of the business of running businesses - let them sink or swim - we would have been much better off financially if the banks and others would have failed - the country and the American people would have been more wiser and appreciative of how to obtain wealth. I like it when the bankers say that they have to give bonuses out to people that were responsible for getting us into this mess because according to the banking industry and their lobbyist (the banks don’t want to lose good people -HELLO!!!) or is it that the banks are afraid that those people will tell all they know about the enter workings of the banks and the corruption and greed that appears on a massive scale. Susan is equally right when she says that the Government does a lousy job too - yes, look at medicare and other government programs - the waste, mis management and fraud that always results and this new health care - boy is that going to be a dozy to deal with - what out for your wallet on this one. Jim @ USA

#88

01/14/2010 :: 08:17:11 AM
Rod Goult Says:

There is no doubt that these massive bonus payments should be subject to a special tax rate - the 50% imposed in the UK is a minimum!
As for the claim that the Government cannot run anything (post 85), perhaps the writer would like to consider just how effective the managers of these banks have been. Why are they paying bonuses to these people anyway? They are the very managers who’s incredibly poor judgements got the banks into a mess in the first place. How about GM? Another example of how good industrial managers can be no doubt!
Government managers actually do a pretty good job of many things - think Medicare (management fees, 3% against health insurers 40%), think social security, think inter-state roads, think the FAA, think the FDA, the FBI, the DEA… the list goes on and on.
In 1961 the Federal Government took 12.46% of GDP in taxes. In 2008 it was 7.49%. Wonder where those deficits came from? Just look at those numbers. But the Reagan-era mantra of ‘cut taxes and growth with make it up’ continues. It’s proven wrong, it has bankrupted the USA, but the Right cannot let go. Scary.

#87

01/14/2010 :: 07:49:06 AM
Charles Howard Says:

The need for more tax income is far broader than Wall Street bonuses. Until the final years of the Reagan presidency, the top bracket was 50%. The pre-Reagan tax rates were fair to all groups of taxpayers and should be reimposed.

#86

01/14/2010 :: 06:56:44 AM
Susan Allen Says:

I think that the Government should have never Bailed anyone out in the First Place. And the Government should just get out of the way and Allow the Free Market to be (FREE) and if a Company or Corp Fails,then let it Fail.The Government has Proven Enough,that it is IN-CAPEABLE of Managing anything.

#85

01/14/2010 :: 05:50:28 AM
Rob Browne Says:

I suggest that the executives be given bonuses of bundled loans and then tax their bonuses heavily at the banks’ inflated value of these worthless loans.

#84

01/14/2010 :: 04:53:36 AM
James Gilbert Says:

Yes. For sure. Yes, these people are very smart. Very smart at making a lot of money for themselves. Competition doesn’t seem to reduce the enormous compensations in the financial industry. These people are not creating wealth. They are just siphoning money out of the system.
Taxing is one way to help correct this. If other countries are taxing similar
huge compensations - where are these geniuses going to go?

#83

01/14/2010 :: 03:00:12 AM
Oscar Says:

Absolutely YES. I am surprised that it has taken this long to figure out that the over paid bank CEO’s and higher management officials needed to be taxed. Why am still required to pay tax on every cent I make while they are taking in highly proportionately under-taxed income.

#82

01/14/2010 :: 02:16:07 AM
Tobey Says:

In a just world the banks would have been forced into bankruptcy so small new banks could take over the market. In my town, the small local banks that served their marked honestly are doing well, as are their depositors and shareholders. Salaries are modest.

#81

01/14/2010 :: 02:12:19 AM
Hal Says:

Yes, tax the bonuses. This could help achieve three objectives.
1. Allay public outrage. World Focus interviewee Andrew Clark is the first person I’ve heard express what in my experience is a contrarian view, that Americans may be more inclined to wish they were a receiver of a Wall St. bonus than to be angry at those who do.
2. Recoup the public funds that enabled the banks to return to a position to be able to offer such bonuses.
3. Settle banks’ concerns that if they don’t offer bonuses, their best employees will jump ship. If all bonuses are taxed, then all banks can give them without a rival bank having a competitive bonus advantage.
This seems to me to be a win-win-win.

#80

01/14/2010 :: 02:12:03 AM
Tobey Says:

The massive criminality of the U.S. bankers and the members of Congress and Senate who are in their pockets and who fire-hosed (to use a polite word) the taxpayers’ money into the crooked banker’s pockets should all be held accountable. 200% taxes on bonuses are a feeble start. All their personal assets should be forfeit, and they should spend the rest of their natural lives in enforced servitude to compensate the victims of their crimes. That, at least, would be a start.

#79

01/14/2010 :: 01:30:27 AM
Robert in NYC Says:

I agree with Ken (#76) “Yes ! tax the excessive bonuses in the same manner that England and France were reported to be doing tonight. Then, also create a separate tax of 20% of all amounts spent by lobbiest and political contributions made by trade groups and corporations.” I hope President Obama and the Congress get up the courage to get it done!

#78

01/14/2010 :: 01:19:23 AM
JoAnn Muir Says:

I think the real problem is that the US attorneys are not monitoring or enforcing the anti-trust laws. When a corporation has become “too big to fail” I would say that is the definition of a corporation that has substantial control and criminal influence over the market.
I am personally furious that the bankers are getting these huge salaries and bonuses. I live in very poorly, around people who suffer and struggle and struggle every day. It is such a slap in the face to hear these arragont people sit before congress and say “sorry” and think that is going to do the trick to get them out of trouble. It infuriates me. I am sure I am not the only one.
It is laughable that bankers try to make the argument that they will lose people if they don’t pay them those huge wages and bonuses. Bankers are not unique. You do not even need a college education to be a banker. Almost anyone can be a banker with enough on the job time and training. It is not a difficult job. It is very, very boring.
Banks, credit card companyies, and any organizations related to them need to be stripped down, split up, shook up, and heavily, heavily regulated (along with the stock market) by the federal government, and be made to realize they in existence at the beck and call for the service of the government, who is the people, who is me and you. The government is the people. I am really sick and tired of the ignorant GOP and other conservatives insulting the people and the government and trying to rip us off. The government is the people and do not forget it. the people are getting really, really angry, and we are about ready to explode!!!!!

#77

01/14/2010 :: 01:11:06 AM
Don Kalscheur Says:

Yes ! tax the excessive bonuses in the same manner that England and France were reported to be doing tonight. Then, also create a separate tax of 20% of all amounts spent by lobbiest and political contributions made by trade groups and corporations. The power of the health care industry in both of our political parties is sickening. When are we going to get meaningful campaign finance reform?

#76

01/14/2010 :: 01:01:55 AM
Jerry Klinck Says:

Not a dime of money should be paid in bonuses until the taxpayer bailouts & loans are repaid. There is no limit to these people’s greed!

#75

01/14/2010 :: 12:10:20 AM
Bar Shim'on Says:

Great comments, i agree, why should top exec get bonuses when the majority of staff works at a wage just above min-wage…all bonus should be returned to the bank as an investment, paid to employees making less than 50K per year…and the government should be paid back prior to would be bonuses and increase debt relief for the consumer(s) at large.

#74

01/14/2010 :: 12:01:13 AM
Rosie Says:

I think a tax would be good, but I think a massive overhaul of the whole system would be better. Instead of just giving banks more money, which it seems is likely at this point, why not give the people that owe the banks that money to give to the banks? Then the banks would get money and deserving everyday people would get some help diminishing their debts and be able to stimulate the economy by being able to spend money again.

#73

01/13/2010 :: 11:46:28 PM
jungleTwitch Says:

http://www.youtube.com/watch?v=VPEx_sDodoE&feature=sub
listen to this and you’ll learn how much the fed and bankers are stealing from you! Get ride of the FED!

#72

01/13/2010 :: 11:36:39 PM
James Says:

Yea, a 75% tax on all amounts above $40,000 and lets do the same 75% on contributions to our cess pool swimers who aided and abetted the “street”. Chucky Schumer is a prime one to start with.

#71

01/13/2010 :: 11:30:26 PM
john Says:

Tax? They should take all the money back from the bankers and give it back to the people(not a tax that goes back to the banks), from witch they stole it from. Say NO! to the New World Order and the elites that control the banks! You Sheeple.

#70

01/13/2010 :: 10:58:22 PM
Fred Petig Says:

Hell yes!!! the government should be getting back as much of the bailout money as they can. These people are being rewarded for their incompetance. They should have been allowed to fail.!

#69

01/13/2010 :: 10:22:38 PM
Leonard Says:

These banking CEOs are similar to the oligarchs of Russia who emerged from the collapse of the Soviet Union as wealthy men.
When we say “too big to fail” we mean too big to be allowed to fail. Actually, they are too big to succeed.
The fact that they made big profits in the midst of a severe recession indicates that they are economic parasites, since the economy as a whole has not only suffered as the result of their errors, but now they benefit even though the economy is still in a critical state.
These big banks should be broken up into the units which existed prior to their mergers. The CEOs are far too limited in intellect to manage such unmaneageable banks, as they do now.

#68

01/13/2010 :: 10:18:13 PM
Jacquelyn K. Griffith Says:

Of course we should tax the bonuses away and put taxes on financial transactions. In the 1950’s the top federal tax bracket was well over 90%. We don’t have to go that far but we have real people suffering and we know why. We have to reestablish values, basic to civilization.

#67

01/13/2010 :: 09:51:56 PM
andrew Says:

Definitely yes!
Wall sreet pan handleres should be heavily taxed.

#66

01/13/2010 :: 09:47:56 PM
yousry amin Says:

yes, they are not deserve that huge amount of money. they are criminals and insensitive and their behavior has to be corrected

#65

01/13/2010 :: 09:47:33 PM
John Sparks Says:

I don’t understand how it is fair to tax the Wall Street Bankers when the Congress passed the Law that allowed them to do it. If it is fair to tax these Bankers, then it should be logical to tax our Congress Men on the ” Campaign Donations they received. Congress voted themselves a Pay increase for the great job they did, their words.
John Sparks

#64

01/13/2010 :: 09:46:20 PM
Bert Blitstein Says:

Absolutely.the problem was caused by the bankers and to reward them is just plain wrong.A TAX on bonuses is justified .

#63

01/13/2010 :: 09:46:17 PM
Karen A. Bowen Says:

Yes, tax the bonuses at least 75%. Then each of us needs to move our money to local “small” banks and credit unions and use cash or debit cards. It would also help if we gave up day trading and speculation and instead invested our money long term in things we believe in. Why condone those who punish us all by driving up the price of a necessary commodity such as oil to pad their back pocket?

#62

01/13/2010 :: 09:44:39 PM
Donna Warshaw Says:

Tax anything over 150,000 at 75%. We must change the culture of risk taking on wall street. It has to be more profitable to return $ to shareholders than to reward executives. They are essentially stealing from shareholders and the taxpayers. Failing a tax I think we should start a grassroots movement to remove our money from the offending institutions.

#61

01/13/2010 :: 09:34:55 PM
JAY AMSTER, MD Says:

Tax on transactions of derivatives is brilliant.
The government should uphold the agreement for the banks to repay “costs” incurred by the bailout. Unless there is a penalty for irresponsibility, future behavior will be irresponsible, just like my 12 year old.

#60

01/13/2010 :: 09:33:38 PM
Klaus Says:

Lets stop the bank and all other loobists who have made this possible

#59

01/13/2010 :: 09:30:43 PM
Klaus W Schmidt Says:

excesive bonuses must be taxed at 75%. The bonues come for investing at high risk and should be taxed accordingly.

#58

01/13/2010 :: 09:29:09 PM
ILona Anderson Says:

Absolutely yes, we need to tax the “gift” bonuses that bank executives are getting from tax-payer bailout money. I pay taxes, it’s my money, and I want tax-payer money to support jobless taxpayers, not rich executives rolling in dough.

#57

01/13/2010 :: 09:28:53 PM
Don Bilby Says:

Somehow there should be more than an onetime tax on these speculators. Since there was outright fraud created by the bankers with ARM’s and No Doc loans, for simply making unstable items to sell other speculators, There should be jail terms, not bonuses.

#56

01/13/2010 :: 09:18:00 PM
Vicky Says:

The “best and brightest” are getting obscene bonuses to figure out how best to squeeze more money from their customers. A tax on bonuses will inevitably result in higher charges to the public, just as credit card regulation has done. The only way to stop bankers’ plunder is to make them small enough to fail. That means MOVE YOUR MONEY to a community bank or elsewhere. Check out moveyourmoney.org

#55

01/13/2010 :: 09:11:53 PM
April Hansen Says:

Absolutely! In fact, I don’t feel they should even get bonuses until AFTER all bailout money has been repaid by these financial institutions.

#54

01/13/2010 :: 09:06:51 PM
Marsh Owl Says:

Yes, of course! Got pain/imbalance? Tao thou! (Empty the full; fill the empty.) –But not as a one time gesture, Mr. President! That throng you beheld stretching to the horizon STILL needs the “change” you promised. So far, its been too “same old, same old!”
Where’s the fulfillment of the “Blue Mandate,” the People’s intended “victory,” as Andrew Young described it upon your election? We need you to lead us in making the U.S. economy and foreign policy exemplify our (what we thought was your) “faith over fear; grace over greed; and vision over violence.”

#53

01/13/2010 :: 09:06:43 PM
Ronald G Says:

YES! How arrogant Wall Street is to think their greed is justifiable! They need to do the right thing and stop taking obscene bonuses and salaries!

#52

01/13/2010 :: 08:41:46 PM
frank Says:

As long as the present members,of the house and senate are in power,we will not see any effort,to right the ship.They are owned by banks & business.

#51

01/13/2010 :: 08:26:14 PM
Juan Carlos Says:

Yes. It is only fair that the US Government should follow the lead of British and French Governments to impose similar taxes on bonuses. The Obama Administration needs to do what is right, not what is easy.

#50

01/13/2010 :: 08:26:10 PM
Carl Rumsey Says:

Yes,absolutely tax them a minimum of 50%.

#49

01/13/2010 :: 08:22:17 PM
r. taylor Says:

Absolutely, tax these bonuses big-time . Our buddy pals from Wall Street got us into this mess in the first place. Tax them and then tighten regulations so hopefully our kids and grand kids don’t have to endure these shenanigans ever again.

#48

01/13/2010 :: 08:17:38 PM
irmgard taylor Says:

Yes, bonusses should be taxed at 75%.

#47

01/13/2010 :: 08:11:13 PM
Mark Green Says:

If “too big to fail” dissapeared according to their own market principles others would take their place if there is a demand for their services for products, THAT IS CAPITALISM 101, so why worry they wont want to do business, its ok somebody else will take their place.

People have to start paying attention, instead of being distracted by NONSENSE like IDOL and other mindless trash.

Wake up people grab ur torches and pitch forks and march to CEO’s houses and intimidate the crap out of them just like they are trying to do to us.

Either we have a financial revolution now, or we will have a real revolution in the future that will make Bastille day look like old folks playing tag.

#46

01/13/2010 :: 08:07:46 PM
Linda Basista Says:

Absolutely the government should put a Big tax on those obsurd bonuses of the executives of the financial institutions that put us in this mess. They are making rediculous amounts of money yet we are getting nothing on our savings held at their institutions. I am a strong proponent of the market setting prices and values but the individual investors especially those with their savings in pension plans and 401Ks have little choice and do not have a strong enough voice or impact to vote the Boards and executives of publicly traded companies out of their positions. The managers of the large investment funds have the power but they want the big payouts too so why would they demand changing the system of compensation. In this case the government needs to take action.

#45

01/13/2010 :: 08:07:03 PM
CZ Says:

While 1 in 5 children are at poverty level, and the majority of he citizens lost part of their savings and homes because of the bankers greed the government has given them a “gift”: extremely cheap money. That has resulted automatically in huge profits not only because of the TARP money but because of the prevailing low cost of money.

Obviously the more profits the more bonuses.

The Government doesn’t have punished anybody for bad practices, neither has developed emergency temporary regulations
Banks continue to foreclose instead of refinancing properties.
They have demonstrated such a responsibility towards the well-being of the country, that they probably deserved large bonuses because they have made terrible decisions, succesfully destabilized not only the country but the whole world, brought countries to their knees and they have not been declared accountable. This achievement deserves large bonuses probably proportional to the damage caused.

A bad lesson for the young generations
The lesson learned is that if you cheat and you are caught but you are not thrown in jail you are very successful

#44

01/13/2010 :: 08:05:36 PM
Marius Gligor Says:

Everybody has to stand up and stop doing business with “Too big to fail” any type of company, be it Walmart or Bank of America.

Its time to support the local small business owner,and teach “Too big to fail” lesson in people power.

How long with the sheeple endure being fleeced for all they are worth?

I now produce all my own energy and keep all that money in my pocket, so take that EXXON, and friends. I use a credit union, own no credit cards and pay with cash for anything I need even if I have to save up for a while, unless I can find out where a CEO lives in which case I would gladly relieve them of their ill gotten wealth.

#43

01/13/2010 :: 08:04:38 PM
David Enlow Says:

Compensation practices should reflect for bank executives how well they perform risk management. It should also be over a time period on greater than one year to capture the effects of doing either short sighted or far sighted practices.
If you averaged 2007,2008,2009 then the amount of gain would be radically less. If there were still a positive gain it should be taxed at a rate to reflect the degree to which the USG maintained the viability of their bank. All this to say that almost no bank executive deserves bonuses that were made possible by a USGov safety net. As a minimum 39% and insure that the individual pays with no plusing up of the gross amount.

#42

01/13/2010 :: 08:03:07 PM
Alan Says:

Yes, tax those bonuses. Had the gov not bailed them out they would be unemployed. They have milked the system. Now tax them as much as possible.

#41

01/13/2010 :: 08:01:40 PM
Greg Andrews Says:

Your reporting on derivatives trading–talking about the Tobin Tax– was disappointing. I would have preferred that you did not let your guest, Andrew Clarke reduce the idea (of whether or not to enact a derivatives tax here in the U.S.) to the weak argument that Americans are “aspirational” (as if enacting a tiny .05% tax on derivatives trading would cripple progress) and by doing this we would be saying we “hate [rich people]“. Since when is enacting progressive checks on the speculative growth of wealth (a wealth that is directly linked to the little people who do the actual labor) a bad thing? In fact if your guest or Ms. Dhaliwal had reported on the history of the tax, they would have reminded the viewers that originally, economist James Tobin had proposed this idea (for which he won a Nobel Prize) as a way to take this pool of money and help the poor. We need to begin to see that the manner in which the economies of the world are run is indeed an ethical and even moral issue that crosses all social, cultural and national boundaries. I am patiently waiting for news that really addresses these ideas in some depth. News people need to stop confusing their clients and begin to do the job that specified in the journalist’s code of ethics. Sincerely, Greg Andrews, Manchester, CT

#40

01/13/2010 :: 08:00:50 PM
Marius Gligor Says:

It never ceases to amaze me how bankers feel entitled to forgivenes. Never mind tax them, if you really want to avoid future stupidity on Wall street and financial services in general JAIL the responsible CEO’s and the board of directors who oversee the CEO’s along with any other staff about to collect big cash rewards for destroying so many other peoples lives.

These people need to have the fear of angry mobs coming to their homes, before they will begin to comprehend the damaged they have caused to many innocent people, for their personal greed.

Perhaps Wall street doesn not need “Retention Bonuses” since they should not able to hire the brightest and smartest to get around laws in place to protect the citizens.

I would give anything to be a jurist for a Financial or Wall street CEO, as he is sentenced to life in prison for theft of peoples futures.

#39

01/13/2010 :: 07:58:09 PM
Delores Smith Says:

A minimum tax of 50% on bonuses. Any bonuses higher than $40,000 at 75%. Bonuses for banks, health organizations, etc. have gotten ridiculous.

#38

01/13/2010 :: 07:40:31 PM
Larry Says:

tax them 50%? NO tax them 75%! they caused this mess and we bail them out! What interest rate do we get for savings (.10%). BOY I’m glad there our brightest minds !!!!

#37

01/13/2010 :: 07:36:40 PM
T.R. Robertson Says:

The US should impose a hefty tax on wall street bonuses and CEO pay packages, and pass legislation to break up “Too Big To Fail” corporations. Corporate money and their lobbyists have bought our politicians and destroyed any viable sense of democracy in this country.

#36

01/13/2010 :: 07:35:57 PM
Richard Tissot Says:

I believe all bonuses should be taxed as ordinary income. This includes all fields, not just banking. The banking industry should be regulated so that any bank can fail, without seriously affecting the U.S. economy.

#35

01/13/2010 :: 07:34:28 PM
Bob Guzauskas Says:

My acquaintances are unanimous in their anger at Wall Street and Washington. Yes, the American people brought this depression on themselves. But why are these bankers allowed to profit from this disaster?

#34

01/13/2010 :: 07:32:33 PM
David Says:

Where did good old Martin Savage go I liked him better. Tax all of the banks and take the ones that sacrificed our economy for their greed go to prison for good then take all their money to pay for the privilege of living in a luxurious US Prison. There are exiting new job opportunities in prison like turning big rocks into little rocks.

#33

01/13/2010 :: 07:32:08 PM
Janice S. Wong Says:

Yes Bonuses should be taxed at 75%..and should not be passed on to their customers..they caused a lot of people to lose their jobs…Big Banks should be broken up so no Bank is too Big to fail…all derivative trading should be taxed..and FDIC should make the Banks pay more money into this Insurance plan…and why hasn’t Congress passed any rules and Regs…could it be that Obama’s Cabinet is made up of past employees of Wall Street and Big Banks?

#32

01/13/2010 :: 07:31:53 PM
Cathy Says:

I think imposing taxes on bankers bonuses would help send the message that we as a country are not happy with how they are doing business.

#31

01/13/2010 :: 07:31:24 PM
Burnie Says:

Yes. Thank you.

#30

01/13/2010 :: 07:29:10 PM
Jim Says:

Yes, tax them to the hilt. If they have less incentive to make big short term gains, maybe they will stop thinking about their own pocketbooks and think a little about what is good for all of us.

#29

01/13/2010 :: 07:28:14 PM
michael Says:

Absolutely. Criminal charges should also be imposed.

#28

01/13/2010 :: 07:27:57 PM
IRENE C. Says:

THE U.S. GOVERNMENT SHOULD PROHIBIT BANKS FROM CHARGING ATM FEES FOR THE NEXT TEN YEARS. ALSO BAR BANKS FROM CHARGING ANY ADDITIONAL FEES ON CONSUMER BANK ACCOUNTS. THAT WOULD PUT SOME MONEY BACK IN THE POCKETS OF AMERICAN CONSUMERS.

#27

01/13/2010 :: 07:20:24 PM
Tim L Says:

When I do something wrong I get punished not rewarded

#26

01/13/2010 :: 07:17:39 PM
Patrick Says:

Absolutely! I would like to see restrictions on total compensation not just bonuses. I do not accept the argument that you can’t find qualified workers unless you pay them these outrageous compensation packages. Last time I checked unemployment was still at 10 percent!

#25

01/13/2010 :: 07:12:35 PM
Joseph Says:

The equation is simple. Their greed broke the bank, an economy, peoples’ lives, and then had the adacity to ask the tax payers for a hand out, only to return to doing business as usual. Criminals they are no doubt, fools are we that will allow them to persue their game AGAIN…

#24

01/13/2010 :: 07:10:12 PM
Tim L Says:

YES absoluty the rich and powerful are the ones congress listens to not joe average, who is hurting because of the banking industry anyway give the monetary help straight to joe average.

#23

01/13/2010 :: 07:02:43 PM
Bernie Says:

This is a no brainer. The people causing the problems should be charged with fixing it. Not just the individual but the whole industry.

#22

01/13/2010 :: 07:00:43 PM
Frank Hampton Says:

Certainly. We’re going to have the same financial problems again if we don’t put a cap on corporate bonuses and pay and not just in the financial sector. Tax the hell out of them and maybe the lobbyist while they’re at it.

#21

01/13/2010 :: 06:56:57 PM
acornlucy Says:

Yes to the question and to all the preceding comments.

AND –take your money out of the banks and put it into credit unions or local banks!!!

#20

01/13/2010 :: 06:55:18 PM
C.Theaux Says:

YES!
And there should be a 75% Federal tax on bonuses that are more than $40,000.
There should also be an increased tax on their shareholders’ dividends; they have also made obscene profits since the Bailouts –

American tax payers and consumers MUST NOT be the one’s to pay for these corporate bonuses.

No more taxpayer Bailouts in any shape or form

No more games

#19

01/13/2010 :: 06:52:22 PM
Janet Says:

Yes.

#18

01/13/2010 :: 06:51:25 PM
Frances Says:

Absolutely! Not only tax them, but FINE them as well! Whether or not they had TARP money, banks should be taxed appropriately. With all the loopholes, they have been paying, on average,a 1% tax rate. As for bonuses, it is unconsionable, obscene and totally unacceptable that those who have so much should get away with so much - the actions taken by the bankers were what caused the financial crisis which had a huge negative impact on millions of people. What sort of negative impact did the bankers experience? It is a travesty of justice, and they should hang their heads in shame, even if they did not receive any bonuses!

#17

01/13/2010 :: 06:49:07 PM
John d. Ricca Says:

I’ve been looking for a way to express my outrage with these greedy,arrogant, yea even “criminally” behaviored individuals, who, with our money, reward themselves for their incompetence!!!Tax them for all they are worth, and find a way to eliminate all their bonus benefits outright!

#16

01/13/2010 :: 06:44:10 PM
Jerry S Says:

These outlandish bonuses should be taxed at a higher-than-normal rate. They are based on profits made thanks to the taxpayer’s bail-out funds. Let the Treasury and the banker share in their good fortune.

#15

01/13/2010 :: 06:38:23 PM
BoB Says:

I THINK IT SHOULD BE LOOKED AT LIKE A QUID PRO QUO, WE HELPED THEM,AND THERE MONEY WILL HELP THE GOVERMENT. MAYBE NOT THAT MUCH,BUT EVERY LITTLE BIT HELPES.

#14

01/13/2010 :: 06:37:50 PM
Alan greaves Says:

We avoid the obvious.If a bank received any Fed or State as a bail out ,then NO BONUSES should be until the debt is repaid from profits. Why should people be paid a bonus for obvious failure to do their jobs

#13

01/13/2010 :: 06:35:57 PM
Mary Ellen Marino Says:

Absolutely, yes! It is a matter of fairness - long absent in US tax rates. Many ordinary families pay the same 18-22% as the multimillionaires like Warren Buffet. The tax rates after a subsistence amount of about $40,000 should gradually increase to serious level such as seen in the 50’s and 60’s. We would then have money for free health care for all, addressing climate change and relieving foreclosure and homelessness and creating jobs for needed services.

#12

01/13/2010 :: 06:35:18 PM
rick Says:

most certain i feel that those bonuses are just cash that should go to the share holder. if it was not for us baby bommers putting all our cash into these bank and funds there would not be this cash around what do we do we pay no matter what so its a bad year you just get a small bonuse. you should get no bounses and there should be limits on pay.

#11

01/13/2010 :: 06:32:10 PM
david brandt Says:

Yes! we the U.S.taxpayers who bailed out the greedy bank executives should have this tax imposed on them not just one year, but until all the money we paid to bail their asses out of collapse of their greedy banking misuse of honest banking that used to exist in the past.

#10

01/13/2010 :: 06:31:42 PM
Rob Says:

Yes. The government should follow Britain’s lead on this. Of course, bankers who believe they are entitled to salaries equivalent to GNP of small republics will howl. Let them howl all the way to the bank. They still haven’t been sufficiently punished for the havoc they hoped would happen (when they bet on their bad mortgages going bust).

#9

01/13/2010 :: 06:30:18 PM
patricia Says:

All those excessive bonuses should be reclaimed and paid to those Americans who lost so much.
We Americans have gotten way too passive.

#8

01/13/2010 :: 06:29:56 PM
Carolyn Tacey Says:

Yes. Risky behavior made them money but landed us in this economic mess. They should be taxed and be happy to pay it. They still earn more than a teacher like me, in a day!

#7

01/13/2010 :: 06:28:53 PM
laroyer Says:

Yes … greed, especially excessive greed at the expense of the livelihoods of others, is a sin. I say, tax them as highly as possible and use the tax monies to fund programs like state unemployement, job training and small business hiring projects. Give the money back to the average Joe’s that it was stolen from!

#6

01/13/2010 :: 06:13:35 PM
Wheaton Wilbar Says:

Yes.

#5

01/13/2010 :: 06:00:02 PM
Joan Sullivan Says:

Yes,Congress should tax financial institutions exectives much more than they do now. Ordinary individuals with modest incomes are often paying the same tax rate as these millionaires.

#4

01/13/2010 :: 05:57:58 PM
nancy fiske Says:

federal dollars made it possible for the banks to leverage capital resulting in huge bonuses. that was not the intended purpose, and the results should be taxed considerably, regardless of whether they’ve repaid the money.

#3

01/13/2010 :: 05:29:42 PM
Herbert Harwood Says:

Congress should start by requiring shareholder approval of executive bonus plans. Bonus payments in years when money is lost or borrowed from taxpayers should be illegal! A tax would likely be passed along to customers.

#2

01/13/2010 :: 05:27:58 PM
Shirley Prather Says:

The government should confiscate all bonuses of banks that owe the government that’s all.

#1

01/13/2010 :: 04:25:33 PM
mlass Says:

Tax a Bonus at 33% like it was a Gift and not allow increased fees on consumers to pay the cost. I can’t see how one person should get millions in bonuses while a hundred thousand of his employees worked minimum wage to make the Companies Profits.

Worldfocus

Thank you, the following message has been sent.

Comments

More from: Europe