Poor Choices!
The U.S. Government had made a really bad choice with passing this dumb 90 percent tax on bonuses. Now I’m just as mad has the next person at these crocks, AIG, Citigroup, Bank of America, Fannie Mae and a few others. And I don’t totally buy that these bonuses are for retaining highly skilled people. I say there a lot of skilled people out there that would gladly to the job without a bonus. What bothers me is that this new tax law, if signed into law could hurt the honest hard working employees that deserve their bonus. Here’s how this could hurt the honest people. The new law is based on total house hold income. So if someone working at AIG gets a $10,000 bonus for working really hard could lose 90 percent. This is how it will hurt this person, lets say this person makes $90,000 a year, then the bonus – $10,000 for a total income of $100,000. On their own this person would not receive any extra tax. Now add in their spouses income of $175,000 a year. Now the total income is over $250,000 a year, which now brings in the 90 percent tax on that bonus, that’s why I think it’s wrong. I don’t know if there’s a way to fix this, but it’s wrong to tax the total income. Taxing the crap out of good hard working people is wrong. If they want to tax someone they should tax only the top executives of the company, not the sales force or managers running the business. Maybe someone will get it right, hopefully soon.
