Britain to Hit Banker Bonuses with a Huge Tax. Fair?
EmailIt’s that time of year…bonus season. America’s big banks are now, despite it all, turning bigger profits and the bonuses are expected to be huge. The ‘despite it all’ reference of course has to do with the dire straits the banks found themselves in a year ago, requiring the massive bail out. And ‘despite it all’ the banks – having paid those taxpayer loans back and are free to hand out whatever perks they see fit.
But in Britain it is going to work a little differently this year. The British government says they will hit banker’s bonuses with a whopping 50% tax. It’s a one-time only charge, but one that is being watched closely. The move certainly has political aspects to it. Gordon Brown’s party is not doing faring well right now in opinion polls. But while this will surely be popular – the British banks were bailed out by taxpayers too — is it fair?
A government official remarked, “There are some banks who still believe their priority is to pay substantial bonuses to some already high paid staff…their priority should be to rebuild their financial strength and to increase their lending.”
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Let’s just say, that when people refuse to behave responsibly, we shouldn’t care what’s “fair”, we should only care about putting the breaks on irresponsible behaviors.
Tax them to death!!!
Posted by: Rick McDaniel | December 9, 2009, 1:51 pm 1:51 pm
If there was no bailout, there would be no bank and no bonus.
Yes. It’s fair. We should do the same.
Posted by: ddg | December 9, 2009, 2:05 pm 2:05 pm
Tax ‘em until they squeal!
Posted by: Doppelganger | December 9, 2009, 2:13 pm 2:13 pm
While a large amount of people lives in unemployment difficulties and struggle to put fold on the table, I can’t believe those guy who run a single busness can make more then the US president! It’s not “fair”. We should put a cap on how much they can make by increasing tax to 100% above the cap amount!!!
Posted by: Ben | December 9, 2009, 2:59 pm 2:59 pm
If you earn a lot you should be taxed a lot. Most of these re-invest not in what they claim would be trickle-down but more in what works to trickle-up or over to each other. It is time that these tycoons understand that the standards that they demand from their works and investors in regards to patriotism and sacrifice is just as important with them too. The present attitude is a double-standard and unless “society” holds them to these standards, they will not do it for for the nation or others. The flat earth policy and philosophy is destroying all that represented what American was all about. The middle class made America what is was and is no longer that anymore because the tycoons, neo-cons and power hungery controllers have done all they can to empower and enrich themselves at the expense of American and Americans like you and me. The rich are not there for you. They are there for themselves and no one else, not matter how hard they try to convince you otherwise. Their words DO NOT refect their actions. Corporatism is destroying America and Americans. Corportists have no Love for America, only more riches and power for themselves. Enough is enough.
Posted by: dlboggan | December 9, 2009, 4:07 pm 4:07 pm
I’m not envious of the highly paid, but these companies that received TARP funds should invest back into the depositors that made those banks what they are today by reducing interest rates, more lending and mortgage modifications etc.
Posted by: Gerald | December 9, 2009, 5:27 pm 5:27 pm
Why is everybody reacting to this as if it’s American bankers getting taxed? Didn’t you read the article? It’s the Brit’s who want to tax THEIR bankers.
But, if the British banks like to nickle and dime their customers to death like American bankers do then hell yes. Tax ‘em til it burns and then tax ‘em some more.
Posted by: George | December 9, 2009, 6:09 pm 6:09 pm
Can we “import” this law to America?
Posted by: john copeland | December 9, 2009, 6:12 pm 6:12 pm
Greed begets greed. Capitalism at its best. I love it. Good job Mr. Brown!
Posted by: moby | December 9, 2009, 7:39 pm 7:39 pm
Look, so a few people lost their homes, whats the big deal? Don’t worry,all we got was the equity. Can I help it if people are too stupid not to over extend themslves? Hey, only a few thousand people have been killed in Afganistan! The important thing is that the Opium fields are back in business and that money is coming through the banks. Saddam was going to sell his oil for Euros instead of dollars, he had to go. Don’t worry, they’ll stop klling each other some day. We made good choices, got some good wars started, and we deserve bonus’. Geez, quit sniveling just because you’re poor. Like it’s our fault.
Posted by: rick raimondi | December 9, 2009, 7:45 pm 7:45 pm
Like most other Britons, I personally think these creatures should be forced to pay an even higher rate of tax, and their precious bonuses should go to repay some of the people who were left destitute by their clawing greed. Also strip them of every last one of their personal assets, and deport them, if there’s any takers. Lets see how they like starting again from scratch, like some people I know had to.
Posted by: Nelsonsglasseye. | December 9, 2009, 8:15 pm 8:15 pm
wow, you brits sure like being socialists. all you jealous people. like a monty python skit. burn her! burn her! you see where your socialisms got you. now you’re a country of losers. sadly our idiots are jealous and want to be losers too. now we can all sit around and whine when someone else makes more money. waaaaaaahhhh
Posted by: Mike | December 10, 2009, 4:22 am 4:22 am
Excellent idea, no wonder their currency is strong and people happy…their politicians aren’t afraid or bought by the banks and financials like our sad sacks are!
Posted by: Hege1321 | December 10, 2009, 5:25 am 5:25 am