The House has just passed a bill taxing Bonuses of employees (and consultants I hope) who earn over $ 250,000/year of TARP recipients at a rate of 90%. I think this is an excellent bill. My reasoning is simple. If I were to ignore incentive effects, I would support a 90% tax on income over […]
Lawrence Wilkerson tells the truth and shames the Devil: Many detainees locked up at Guantanamo were innocent men swept up by U.S. forces unable to distinguish enemies from noncombatants, a former Bush administration official said Thursday. “There are still innocent people there,” Lawrence B. Wilkerson, a Republican who was chief of staff to then-Secretary of […]
by Bruce Webb In a post at his site Andrew Biggs points us to a NewMajority.com piece by him Survey: Half of workers would opt out of Social Security if they could which in turn points to a survey sponsored by Sun Life Financial Results show that almost half (48%) would prefer to stop paying […]
Looking at Population Change data derived from version 6.2 of the Penn World Tables. It appears that the population of Kuwait declined by 55.46% in 1991, only to increase 48.64% in the following year. I’m inclined to think of this as measurement error, not a mass exodus following by a mass return after the invasion. […]
By Spencer The details within the leading index provided some very interesting details. Within the current index real manufacturing and trade sales were: ……………………….(million 2000 $)Dec 08…………………..893,617Jan 09…………………..895,824Feb 09…………………..896,837 An uptick in real manufacturing and sales is generally a concurrent indicator of the end of a recession. Of Course this depends on the assumption that […]
By Spencer Yesterday’s bond market reaction to the Fed’s policy announcement was interesting.
Robert Waldmann I think this excellent article by Binyamin Appelbaum and Brady Dennis buries the lede. Appelbaum and Dennis argue that there is no need now and there was no need when the bonus contracts were written to retain the AIGFP scum crooks employees, because AIGs most risky contracts have been unwound. I consider the […]
George Will, guest-posting chez Berube: But hope is not a financial plan, and rewards come only to those who work for them. It is time for the Democrats to grow up, learn the lessons of adulthood, and begin dismantling a tax system which creates so many disincentives to wealth creation. Justice demands that bonuses must […]
by cactus The AIG Bonuses… A Letter to Our Leaders Back when the TARP was being passed, I noted among other things that a) it wouldn’t work, b) it would be gamed, and c) it would just serve to further enrich the same clowns who got us into this. I further suggested the obvious solution […]
rdan Limiting executive pay after bailouts is an Angry Bear post from last November. Seems to be relevant to the AIG and future Wall Street pay raises.