Britain Unveils Whopping Tax On Bank Bonuses; U.S. Windfall Tax Proposal Going Nowhere

[laughingliberal]

British bankers are going bonkers today after the UK government announced that it wouldn't stand idly by as they showered themselves with obscene bonuses made possible by last year's massive infusion of government money.

Alistair Darling, the U.K.'s Chancellor of the Exchequer -- sort of like a Treasury Secretary, but with more pluck -- announced today that he will impose an immediate, one-time 50-percent tax on bonuses of more than 25,000 pounds (about $40,800). That's on top of regular income taxes. <snip>

<snip> Across the pond, however -- where the Wall Street titans whose companies were saved from dissolution by an infusion of hundreds of billions of taxpayer dollars are about to reward themselves with a good chunk of that money in the form of year-end bonuses -- no such action is in the offing.

Our bankers apparently have nothing to fear from their government -- despite the fact that an unlikely collection of commentators and industry insiders from the left and right has made a compelling case that American taxpayers could and should reclaim some of the industry's profits, by effectively treating them like lottery winnings and subjecting them to a windfall profits tax.

http://www.huffingtonpost.com/2009/12/09/britain-unveils-whopping_n_383103.html

Why does America hate us?

[ShortnFiery]

1. Those Brits KNOW how to hold their legislative representatives' feet to the fire.

Go Brits! :woohoo: :thumbsup: :-)

[rockymountaindem]

7. Not really. If they did, they wouldn't have had that massive corruption scandal

One good move doesn't make the British government any better than ours. Unless you love being videotaped everywhere you go.

[Vinnie From Indy]

2. Jolly Good Show!

It is becoming more evident everyday that Americans are getting screwed royally by our corporate overlords. Whether the issue is healthcare, internet access, cable tv, credit card usury or completely unrestrained looting by wall street bankers, the stranglehold of corporate interests on our government is getting too pervasive to deny with a straight face.

[laughingliberal]

3. It's disappointing I have not heard the words "windfall profit tax' from Barack Obama

since the campaign. In addition to the banksters and their outrageous bonuses, I would think the private insurance cartels would just be begging for it. And it would be another tool to force some affordability out of them on their premiums.

[Waiting For Everyman]

4. An up or down vote on the windfall tax would be great.

I'd like to see who would dare to filibuster or vote against it. So would most voters (of both/all parties), I bet. That could get interesting. Even if it was defeated, it would be worth the effort.

[mod mom]

5. Sounds like a way to help pay off the deficit. I'm sure the GOP will jump on this as they are so

concerning w our mounting debt! :sarcasm:

[Fumesucker]

6. Lawd above! wicked job . , innit.

I'm having a real bubble bath at this..

http://www.cockneyrhymingslang.co.uk/slang/bubble_bath_1

Charlie Nash on those banksters.

http://www.cockneyrhymingslang.co.uk/slang/charlie_nash