Screw this "new" tax idea with AIG

[AllentownJake]

Send in the IRS and for every damn bank that took bailout money, anyone VP or above gets a full IRS audit. Trust me if they are snakes with the bailout money they are cheating on their taxes. You'll probably recoup double the money and catch these guys like Capone was caught.

[Aloha Spirit]

1. I like it!

The jobs for accountants bill.

[Sebastian Doyle]

2. But wouldn't Geithner have to resign before that could take place?

You know.... with his own tax problems and all....

[stillcool]

8. How do you come up with this stuff?

Maybe the IRS should audit you too.

[Sebastian Doyle]

12. They would be bored shitless if they did

and it would be a ridiculous waste of taxpayer resources for them to waste their time doing so. Though not even a drop in the bucket compared to what Geithner helped AIG get away with.

[stillcool]

14. I got audited years ago...

and I make peanuts..but had to give them more of my peanuts. Granted, it wasn't much, but that is what they do. Random audits. I'm sure they could find something on you, especially if they go back 10 or 20 years. I get it that you really don't like Geithner, and I suppose you could attempt to make his tax return error significant to every conversation, but it seems like you're trying too hard. How is it he helped AIG?

[Phx_Dem]

3. Like Obama has said, you shouldn't legislate when you're mad.

Just like people who spank their children, should never do so when they're mad. You might end up beating the crap out of them. Sadly, Congress loves to legislate in the middle of a feeding frenzy. Maybe that's why they always screws things up.

If this bill makes it through the courts, great. Those AIG pigs deserve whatever they get. The question is, will it?

[stklurker]

5. legislation..

As much as find the idea of the bonuses revolting, this was a not a secret, and they were retention bonuses (not performance) that they fulfilled.. The fact that there is outrage now from Congress is really absurd since they enabled it in the first place.. The even sadder part is.. if they would have just built this into their salary for the majority of them, nobody would have noticed, but they were too stupid for that.

And Chris Dodd... either make a stand next time, or man up and own your decision to change the wording... this flip-flopping, finger pointing @#$)@#$ has got to stop.

[denem]

6. The bonuses were a secret - the Fed approved them at a Dec AIG board meeting

then failed to inform Treasury and the White House till the last minute.

[stklurker]

7. Huh??

Are you saying the Treasury and Chris Dodd didnt know about the provision..??

http://money.cnn.com/2009/03/19/news/economy/geithner_interview/index.htm

[stillcool]

10. but Congress passed the bail-out bill...

that included these bonus contracts. I don't know why we heard nothing about it at the time, but we didn't hear a whole lot about anything that was in that bill.

[Phx_Dem]

9. Excellent.

:fistbump:

[denem]

4. I prefer a 90% tax rate on the books that half the GOP voted for.

An IRS audit is business as usual. The GOP splitting on income tax hikes is something else again, and far more significant.

[FailureToCommunicate]

11. Hear Hear! Bring back taxes on 1 million and above and see how the long slide

and rip off of the middle class starts to correct. Audits also! The IRS began years ago concentrating on the small fry taxpayer and manpower restraints
mean they just didn't have folks to audit the higher income earners.

[Touchdown]

13. Actually, we own AIG now. So let's play the stock market game with it.

Pump and Dump it. Manipulate the stock like they do with good companies, until it shutters it's doors. The tax payers will make out like bandits.

[stillcool]

15. yup..have a fire-sale..

sell all its assets at rock-bottom prices, and let the Carlyle Group come around and scoop up all the assets!! Win, win.