US lawmakers vote for bonus tax

  peter99co 20:31 19 Mar 2009
Locked

US lawmakers in the House of Representatives have voted in favour of a bill to levy a 90% tax on big bonuses from firms bailed out by taxpayers.

click here

  Jim Thing 20:55 19 Mar 2009

Is there any reason (European perhaps?) why we shouldn't do the same?

  tammer 21:52 19 Mar 2009

The reason is the difference in culture.

In the US, being successful is rewarded and supported. And if you do it by trampling on others, you get severely punished (note: there are some exceptions).

In the UK (and parts of mainland Europe), if you're successful then the press is out to get you. If you trample on others, then what the hell, we'll huff and puff and do very little.

  Charence 21:55 19 Mar 2009

huh?

bonuses get paid here in the UK too...

  Charence 21:57 19 Mar 2009

:( FE.. help please?

  sunnystaines 22:40 19 Mar 2009

sounds good idea but i suspect people in each others pockets for it to happen here and would brown have the bottle to impose it.

  laurie53 07:19 20 Mar 2009

Of course it won't happen here.

As I've said before, too many of our parliamentarians are hoping for some nice lucrative directorships to supplement their meagre pensions when they are compulsorily retired (which may be quite soon for some of them!).

  interzone55 08:40 20 Mar 2009

And what makes you think the US is any different?

Except perhaps the Senators are already working for the big corporations whilst still in office.

In many ways the US administration is the most corrupt on earth, and Barak Obama will have a big job on his hands trying to sort it out...

  Cymro. 11:34 20 Mar 2009

I think it a very good thing and rather surprising for a country that is suppose to be such a bastion of capitalist culture. I have always considered the Americans to have more get up and go about them than we do. So lets hope they have the guts to go all out for these so very greedy people.

As for any such thing happening in this country, well I would like to see it come about but doubt if it will ever happen. It is not considered fair play to go for retrospective taxation in the U.K. It is seen as alright to screw every penny you can out of the company but it must at least be thought to be just about aboveboard.

  laurie53 15:17 20 Mar 2009

"And what makes you think the US is any different?"

I think the US is different because they've actually passed the law and we haven't.

Nor am I confident that we ever will. By the time a bill has gone through first and second readings, committee stages, back and forth to the Lords etc. the subject funds will long have been salted away in some obscure trust.

Cynical? Probably.

  peter99co 20:21 21 Mar 2009

Resolved? We will have to wait and see.

This thread is now locked and can not be replied to.

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