Citigroup, Morgan Stanley, Chase, Goldman Sachs, and Bank of America–will pay out $90 billion in bonuses.

Good for You Petey Welch!

Admist reports this week that indicate a handful of the largest firms receiving TARP funds–Citigroup, Morgan Stanley, Chase, Goldman Sachs, and Bank of America–will pay out $90 billion in bonuses.
Petey will introduce legislation that would impose a 50% tax on excessive bonuses at firms that received bailout funds….which I do like as its nice for the money to come back, however are they going to stop the fee increase that is surely going to happen for them to ‘reclaim’ money and show a profit so they can pay bonuses “fair and square”?

The “Wall Street Bonus Tax Act” would apply only to bonuses over $50,000, and would use the tax revenue to support loans to small businesses.
I like it!

He says:
“As most Americans struggle to endure a long and wrenching recession, the same Wall Street bankers who came to the American taxpayer with hat in hand are now preparing to pocket record-breaking bonuses,” said Welch. “Financial firms that received taxpayer assistance must remember that they owe their return to profitability to hardworking Americans.”

You got my vote there Mr Welch! Now lets hop eyou have the attention of Reid, Pelosi and O-man

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Published in: on January 13, 2010 at 9:49 am  Comments (1)  
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If it’s not a Tax Increase, what is it? Because by definition it is a tax

On one of his many media blitz’s over the weekend, Obama was asked if requiring health insurance, does that mean its a tax increase and in a very curt answer he says:

“For us to say you have to take responsibility to get health insurance is absolutely not a tax increase,” Obama said in response to persistent questioning, later adding: “Nobody considers that a tax increase.”

Those unable to afford health insurance should get government help, Obama said, but others who can afford coverage but choose not to get it should face coverage requirements similar to those for auto insurance.

Does health insurance being compared to auto insurance just sound strange?? perhaps its me?

What it’s saying is … that we’re not going to have other people carrying your burdens for you any more than the fact that right now everybody in America, just about, has to get auto insurance,” he said. “Nobody considers that a tax increase. People say to themselves, that is a fair way to make sure that, if you hit my car, that I’m not covering all the costs.”

But the fact is, there are many people out there, illegal and legal that dont have auto insurance, and some counties will then impound the car or perhaps just a ticket, how is this going to be policed?

I still have many more questions, and many that seem to never be asked?

Obama said about Republicans “are just not going to support anything.”

I’m not too sure Obama it is just Republicans, there are many people that voted for you that have many questions and perhaps its being misread as not supporting it.

I think after being burnt with the bail out, there are just a lot more questions and a lack of trust in the current congress.

You and your party owe it to the taxpayers to spell this thing out with every check and balance shown to them.

O-man also got very snarky with another reporter who brings up a very good point and this is a ABC news reporter

Under this mandate, the government is forcing people to spend money, fining you if you don’t. How is that not a tax?” the host asked.

Obama responded: ” No, but — but, George, you — you can’t just make up that language and decide that that’s called a tax increase.”

Stephanopoulos then offered the dictionary definition.

“I don’t think I’m making it up. Merriam-Webster’s dictionary: ‘Tax, a charge, usually of money, imposed by authority on persons or property for public purposes,'” he said.

“No. That — that’s not true, George. The — for us to say that you’ve got to take a responsibility to get health insurance is absolutely not a tax increase,” Obama said

O-man sounds like you need to read the dictionary, Georgey S just OWNED you!

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Published in: on September 21, 2009 at 7:02 am  Comments (2)  
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