The House passed a bill on Thursday to impose taxes on bonuses for companies like AIG.
Wired PR News – The House passed legislation Wednesday that would impose taxes for bonuses paid to employees of companies like AIG. As reported by the Associated Press (AP), lawmakers in the House voted 328-93 for the passing of a bill that would impose a 90 percent tax on the millions of dollars AIG paid to executives in bonuses, as well as those paid by other companies who have received government bailout funds.
President Barack Obama is quoted in the report as stating of the introduction of such a measure, “I look forward to receiving a final product that will serve as a strong signal to the executives who run these firms that such compensation will not be tolerated.”
Obama is further quoted as remarking in a statement issued by the White House on Thursday, “In the end, this is a symptom of a larger problem — a bubble-and-bust economy that valued reckless speculation over responsibility and hard work…That is what we must ultimately repair to build a lasting and widespread prosperity.”