In the House, Reps. Steve Israel, D-N.Y., and Tim Ryan, D-Ohio, introduced a bill that would that would tax at 100 percent bonuses above $100,000 paid by companies that have received federal bailout money.
Not that the AIG'ers deserve the money, but true or false, the last 24 hours have turned into a game of elected officials attempting to one up each other with submissions for how, if we can't stop the bonuses, we can make things as uncomfortable as possible for those on the receiving end. In which case, it's pretty obvious that we gather everyone up, head out to a cattle ranch in Montana and throw their bonuses out the window of a corporate jet (from a TARP-taking bank) in one and five dollar denominations. They'll still get it, but it'll be hard, and you know at least a handful of individuals will deem it not worth the effort. Or there's always this route. The first Congressman or Lady to seriously suggest receives a cheesesteak, on us.
Congress threatens to tax AIG executives' bonuses [AP]