House Approves 90% Tax on AIG Bonuses

Posted: Mar 19, 2009 3:01 PM
By 328-93 vote, the House has approved a 90% tax on the controversial AIG bonuses amidst confusion about the contractual obligations of the company. The Senate may not be far behind, with the Senate Finance Committee considering legislation possibly this week, according to The Politico. The Justice and Treasury departments are also looking into ways to tax the money after Obama turned up the heat on the AIG chief executive Edward M. Liddy.

In other news, Grandmothers United and Dogcatchers of America are also planning on joining together to seize all or part of the AIG bonuses, meaning those who have already accepted the money may have to pay back the difference several times over. And then defeat an angry mob of cane-wielding grandmothers and stray animals, all while beating back the Obama administration with their spreadsheet folders and number machines.