[quote=davelj]I’m not happy with the taxpayers bailing out the “uber-capitalists” either. I would have no problem with the govt. trying to recapture past payments to execs but for one slippery issue: the rule of law. Don’t get me wrong, I’d love to take a couple of hundred million dollars from each and every one of these banking clowns, but the laws are fairly unambiguous where these things are concerned and I don’t know how you get around them (or change them) without creating a lot of havok.[/quote]
A couple things:
(1) It may be that folks like John Thain, etc committed fraud by talking up their companies when they knew otherwise. That’s one way to go after them.
(2) The laws can be changed. It’s time for a wealth tax in this country. There’s no way that 1% of the population should hold 90% of the wealth. Especially when a large portion of that 1% has now been bailed out by taxpayers.
The wealth tax should only target the top 1% and maybe have it expire in 8 years. Something like 5% a year for 8 years ought to start evening things out.
