{"id":189872,"date":"2010-02-04T23:17:00","date_gmt":"2010-02-05T04:17:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/02\/04\/a-%c2%bd-step\/"},"modified":"2010-02-04T23:17:00","modified_gmt":"2010-02-05T04:17:00","slug":"a-%c2%bd-step","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/02\/04\/a-%c2%bd-step\/","title":{"rendered":"A \u00bd Step"},"content":{"rendered":"<p>It looks like there is increased momentum in the Senate for <a href=\"http:\/\/www.reuters.com\/article\/idUSTRE6134CO20100204\">raising the tax rate on big bonuses for bailed out firms<\/a><\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>Senators Barbara Boxer and Jim Webb proposed a 50 percent tax on 2009 bonuses above $400,000 at any firm that has received more than $5 billion in government assistance.<\/p>\n<p>The senators said they had not yet gathered broad support for the proposal, and neither sits on the tax-writing Senate Finance Committee, which would likely have to take up the bill. A 35 percent tax on bonuses at bailed-out companies was proposed last year by the leaders of the Finance Committee, Democrat Max Baucus and Republican Charles Grassley, but it has not been acted on.<\/p><\/blockquote>\n<p>I call it a half step, because in order to fix this, it needs to apply to a lot more people than that, and to apply to all income.<\/p>\n<p>The marginal tax rate for people earning more than about $5 million a year should be north of 75%.<\/p>\n<p>I don&#8217;t care if it&#8217;s Lloyd Blankfein, A-Rod, or Lady Gaga, let&#8217;s raise their taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It looks like there is increased momentum in the Senate for raising the tax rate on big bonuses for bailed out firms Senators Barbara Boxer and Jim Webb proposed a 50 percent tax on 2009 bonuses above $400,000 at any firm that has received more than $5 billion in government assistance. The senators said they &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[998,1020,983],"tags":[],"class_list":["post-189872","post","type-post","status-publish","format-standard","hentry","category-congress","category-legislation","category-taxes"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189872"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189872"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189872\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}