More Bonus Bill Stuff
... just thought of ANOTHER reason that the House's new bonus bill is a bad idea:
It's not even AIG-centric. It applies to the WHOLE FINANCIAL INDUSTRY, and all who work in it, so long as their companies accepted any bailout funds (as most have). If you have a total household income of $250,000 (oh, don't I wish) and you get a bonus, well, forget it Skippy: 90 percent go bye-bye.
Let's say you work at an investment firm--you're a low-level investment banker or broker. And--happy day!--you met your wife at work; she's in the PR department of the firm. And let's say you each pull down about $125,000 a year (and you live in Manhattan, so that doesn't make you rich). It's been a good year for you; unlike almost everyone else, you've done very well for the clients you handled; they got a eight percent return on average, where most people lost money this year. So you have a nice bonus coming your way; one you earned honestly.
Kiss it goodbye; you only get ten percent, so that nice bonus is now not very nice at all.
That's just not fair, and it's just not right.
It's not even AIG-centric. It applies to the WHOLE FINANCIAL INDUSTRY, and all who work in it, so long as their companies accepted any bailout funds (as most have). If you have a total household income of $250,000 (oh, don't I wish) and you get a bonus, well, forget it Skippy: 90 percent go bye-bye.
Let's say you work at an investment firm--you're a low-level investment banker or broker. And--happy day!--you met your wife at work; she's in the PR department of the firm. And let's say you each pull down about $125,000 a year (and you live in Manhattan, so that doesn't make you rich). It's been a good year for you; unlike almost everyone else, you've done very well for the clients you handled; they got a eight percent return on average, where most people lost money this year. So you have a nice bonus coming your way; one you earned honestly.
Kiss it goodbye; you only get ten percent, so that nice bonus is now not very nice at all.
That's just not fair, and it's just not right.