Thompson (D-CA) seeks to capture AIG bonuses

[Auggie]

Source: Napa Valley Register

WASHINGTON — Talking tougher by the hour, livid Democrats confronted beleaguered insurance giant AIG with an ultimatum Tuesday: Give back $165 million in post-bailout bonuses or watch Congress tax it away with emergency legislation.

Rep. Mike Thompson, D-St. Helena, introduced a bill Tuesday that would levy a 90 percent tax on American International Group bonuses. Thompson is a senior member of the House Ways and Means Committee, which oversees all tax matters that come before Congress. Thompson’s office said the bill would apply not just to AIG, but to all businesses that received government bailouts or loans under the 2008 Emergency Economic Stabilization Act.

“It’s outrageous that some of the same bankers who helped create this economic mess are now going to be rewarded for their failures with taxpayer dollars,” Thompson said in a prepared statement. “By taxing all bonuses paid out by companies that received money to help them stay afloat, we’ll send a message to these folks that business as usual is no longer acceptable. I would prefer to tax these bonuses at 100 percent, but that level is considered confiscatory and doesn’t pass legal muster.”

Read more: http://www.napavalleyregister.com/articles/2009/03/18/news/local/doc49c015905bcd6463890566.txt

[msongs]

1. phoney outrage from corporate lobbyist loving congressional ho's. too funny nt

[Auggie]

2. Thompson doesn't quite fit into that category...

as far as I know.

[rocktivity]

3. More like safe outrage

Now that "everyone who is anyone" is "doing" it.

But there really were two "mavericks" in Congress: A Sentator Ron Wyden (D-OR) told Rachel Maddow that he and Olympia Snowe had inserted an amendment that would have prevented this very situation, but "the lobbyists came out in droves" and the amendment "magically disappeared..."

:mad:
rocktivity

[badgervan]

5. Gotta Be Chris Dodd

.... who has been awful conspicuous by his absence from the media circus. If so, he is toast.

[badgervan]

6. So....

... not 5 seconds after I press "send", who comes on Hardball to talk about who the culprit was but... Chris Dodd. Excuse me while I watch him spin and deflect all blame. Schummer?

[aquart]

9. I'm really tired of magical disappearances.

I'd like to see a reporting requirement on that. Say, an obligation to tell the writers of an amendment that it's going bye-bye.

[No Elephants]

11. I thought Dodd changed his own language/

[Name removed]

4. Deleted message

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[NV Whino]

7. Mike Thompson?

Our Mike Thompson, the invisible congress critter, has found his voice?

[Auggie]

10. Invisible congress critter...

LOL!

Year, our guy. Can you believe it?

[XemaSab]

8. Mike Thompson is the man!

I miss having him as my rep.