If the Americans can do it, why can’t we?
The American’s House of Representatives has overwhelmingly voted for a Bill to impose a 90% tax rate on excessive bonuses paid to executives of companies that receive Government bail out money.
If the Bill passes through the Senate, the new tax will apply to executives paid more than $250,000 working for any company that received at least $5 billion from the US Government.
The Speaker of the House said, “We want our money back and we want our money back for the taxpayer”.
Despite all the criticism in the UK of excessive bonuses paid to employees at the banks bailed out by the UK taxpayer (and we are sure some insurance companies and car manufacturers will follow), we haven’t heard of one constructive action to do something concrete about it. After all these companies would have gone to the wall without multi-multi millions from us, the UK taxpayer. And if the companies had gone bust the employees would have had to whistle for their bonuses. Puff, blown into thin air!
So Gordon Brown, what are you going to do to recover those obscene bonuses that are an affront to the UK’s man in the street?
Hello Gordon, ……. hello ……….. hello …….. is anyone there?
