AIG BONUS TAX OUTRAGE: "GIVE THE MONEY BACK OR TAX 'EM"
By Synthia Esther
March 17, 2009
Senate Democrats have given AIG executives the "real deal" warning after recently receiving $165 million in bonuses. The Democrats bottom line real deal? "Give the money back or we'll take it away." Senator Chuck Schumer said in a speech on the Senate Floor, "Let the recipients of these large and unseemly bonuses be warned - if you don't return it on your own, we'll do it for you."
A new idea has surfaced, "Tax 'em." The idea first went by Senate Banking Chairman Chris Dodd (D-CT), is to impose a massive confiscatory tax narrowly targeted the $165 million dollars in bonuses recently doled out by AIG. Speaking on the Senate Floor, Senator Schumer said the AIG executives who received the bonuses should voluntarily return them.
Americans are outraged, as well they should be.
GENERAL ELECTRIC - ANOTHER BAILOUT OUT OF CONTROL?
By Synthia Esther
March 27, 2009
While the AIG bailout funds have reached an astonishing $182.5 billion running a close second is the bailout for General Electric costing $139 billion in bailouts in November. Phil Kerpen (Ploicy Director - Americans for Prosperity), as posted on the Fox News website asked and I agree, "Where is the GE outrage?" Kerpen states, "In a wild rant on MSNBC, owned by General Electric - Keith Olbermann denounced Cititgroup CEO Bikram Pandit's salary, AIG, Northern Trust, and other bailouts recipients, which he call 'vast engorged gluttonous multinational corporations whose sneezes can be fatal to our jobs, whose mistakes can turn us into the homeless, whose accounting errors can be so panoramic that they can make our economy tremble and force us to hand them billions after billions in a blackmail scheme that has come to be know as bailout.'"
As many Americans voice their opinions about such enormous bailouts, there are others who should weigh in. Who is on the list to shout out concerning General Electric? Jeff Immelt - who did forego his 2008 bonus, which the board granted to him even though he missed his performance measures. Then there is Chief Financial Officer Keith Sherin and Vice Chairman Michael Neal who were given in 2008, $5.2 million and $5.8 million, of which half was returned. News reports in November, when GE was in crisis and two days before its $139 billion bailout deal was reported, Olbermann signed a new contract with a raise from $4 million a year up to $7.5 million a year. What about MSNBC's Chris Matthews? He vowed to help President Obama succeed in his plans, bashing the AIG bonuses almost nightly. Matthews new contract amount? $5 million per year.
Where does that leave us, the average American who depends on the capitalist system of democracy? We are left with a poor economy, bailing out American political agendas of illogical spending sprees in order to save certain companies and people from bankruptcy. Who will be paying our debts? Our future generations. I was raised by parents who grew up during the depression. As such, I have learned by example how to manage my money. I have paid my bills and stayed within my budget. Yet I, and other Americans like me...and our children, are left bailing out those who didn't?
An important fact to remember for all those who spend without thought to the future, be it the American citizen or our government officals in Washington - including President Obama?
"Any goverment that can supply all you need, can take away all you have!"
Copyright - 2009-2010, Synthia Esther. All Rights Reserved.