US Congress Follows My Recommendation

Incredible: It seems that some US lawmakers have read my blog! Or did they develop the idea of using tax law to re-claim undeserved bonuses all on their own? Anyway, they House of Representatives passed a bill that imposes a 90 % tax on bonuses paid by government backed companies such as AIG. Revolutionary indeed.

This move is in line with the ideas I have proposed before in this blog (here and here). However, in my opinion it should be expanded dramatically to inlcude all kinds of excessive salaries all over the world. This would be a real step forward, but I doubt it will ever be achieved...