Tax or not tax banker bonuses?

Economics Economics Questions
1

Should banker bonuses have been taxed and have the money returned to the people?

I noticed that Ron Paul opposed it for some reason: http://clerk.house.gov/evs/2009/roll143.xml

Thoughts?

2

No. The money doesn’t belong “to the people”, but to those who generated that money in the first place.

Of course he did the right thing. The reason being he is against big government taxing the rich productive members of society and I support him totally for that.

3

I think I understand your point.

Considering that taxpayer money was used to bail the banks out and some of that money was being granted to bankers as bonuses, should any of the bonus money be returned?

4

If the government wishes to give taxpayers their money back why don’t they simply cut their spending and cut taxes in the first place…?

This banker bonus stuff is just a storm in a teacup. It’s a propaganda move by opportunistic politicians to appeal to populism. It makes about as much economic sense as the bailouts themselves: none.

5

I’m opposed to this on principle. It’s a trojan horse to grant government control over wage rates in both directions, be it of crony capitalist slime like the Goldman executives or ordinary decent folk. It’s also a distraction from the real issue, which is the government’s monetary and legislative enabling of these banks and their expansionary policies.

EDIT: Damn, Hard Rain beat me to it. Took the words right out of my mouth.

6

I see it a bit differently from the other posters.

These people are now govt employees, since the govt is footing the bills. So they should get the standard govt wage, whatever clerks or whatever in other govt offices get. Certainly no bonuses.

I do agree that the bailout should not have happened, of course. And that of course the govt will try to control everyones wages sooner or later, and that this is but one step toward that.

But despite all that, I stand by my intial reasoning.

7

I’d rather have wealthy greedy bankers take this looted money and waste it on hookers and alcoholic beverages, then to have it spent by politicians for their own political gain.