Quote:
Originally Posted by sperbonzo
So if you work for a company, and you have a contract to be paid a certain amount. Now all of the sudden the government decides to give the company money, and now they come and tell you that you are going to be taxed at 90% for the income that you are owed by contract when you took the job.
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Or the govt could have let them fail and they would have gotten nothing anyways, right? I like that plan better (not now unfortunately $150+ billion later). I don't see what's wrong with this law though - the government saves your company from collapse with gobs of TAXPAYER money - you should be thankful to still have a f'in high executive position that we allowed you to still have. Enough executives in other companies are perfectly happy to take pay cuts in this time to ensure their company's success, why not these bozos? Oh yea, they want to be able to pay for their luscious retreats, I forgot.
My only concern with this law is the possibility of a slippery slope starting from this, but I'm not at all feeling bad for those executives. I mean you KNOW people in general aren't going to like your getting bonuses after being bailed, those people including many INVESTORS in your company, why take them? IMO helps to show the issues with how things have been run in that company.