H.R.1572 - Taxpayer Protection Act

To amend the Internal Revenue Code of 1986 to impose a 90 percent tax on bonuses paid by business that receive TARP assistance. view all titles (2)

All Bill Titles

  • Short: Taxpayer Protection Act as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to impose a 90 percent tax on bonuses paid by business that receive TARP assistance. as introduced.

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  • UniqName 03/19/2009 11:48am

    This is ridiculous. I am no defender of AIG. What they have done is deplorable. But passing legislation to punish business for doing something you earlier gave them approval to do is chilling to business and innovation. All this leads to is the injection of government, which is full of career politicians, the vast majority of which have never run any type of business in their life, into positions where they are effectually determining what are and are not good business decisions. This will lead to most private business either moving overseas to escape crushing taxation or being absorbed by the state which will have a controlling interest (see AIG’s 70% ownership by the federal government for example) in it’s operations if not outright ownership. This by a government which has proven it can’t handle their current (seized?) responsibilities without blatant mismanagement and corruption, regardless of which party is in control.

  • SignOfTheDollar 07/02/2009 9:55am

    What hypocrisy to call this bill the “Taxpayer Protection Act”. If congress really wanted to protect taxpayers, they would not have started this bailout BS to begin with.


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