Would a British citizen even file US Income Taxes? :shrug:
Here's the Bloomberg Story:
U.S. House Set to Vote on 90% Tax Targeted at Executive Bonuses
March 19 (Bloomberg) -- U.S. House Democratic leaders have set a vote for today on a proposed 90 percent tax on executive bonus payments by companies receiving more than $5 billion in federal bailout funds.
The bill is a response to the national furor that erupted this week when it was learned that American International Group Inc. paid $165 million in bonuses to 4,600 employees, including many in the financial products unit whose investments brought the company to the brink of bankruptcy.
“I expect it to pass in overwhelmingly bipartisan fashion,” House Majority Leader Steny Hoyer, a Maryland Democrat, told reporters yesterday in Washington. House Speaker Nancy Pelosi, a California Democrat, said, “The American people are very upset about what they’ve heard about bonuses.”
Companies covered by the legislation have received 75 percent of federal bailout funds, according to the House Ways and Means Committee.
“We go far beyond AIG, Citibank, Freddie Mac, Fannie Mae and others,” said committee Chairman Charles Rangel, a New York Democrat. “This is not going to happen again, the light is flashing and letting them know that America won’t take it.”
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http://www.bloomberg.com/apps/news?pid=20601087&sid=aqT1gxZQmVh4&refer=home
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