Sunday, March 22, 2009
Unintended consequences . . .
Will lift operators and food service employees at Stowe ski resort (a subsidiary of AIG) have to pay the 90% penalty tax on their Christmas bonuses? Not every employee of AIG is a monster earning millions per year. Most of them are average Joes, worried about keeping their jobs. If we don't think low level employees should be penalized for their bosses' mistakes, we should remember that. Let's hope Congress doesn't punish the average workers getting two week bonuses in its haste to cover up the lack of forethought and oversight in the various bailout packages.