Friday, March 20, 2009

The Law of Unintended Consequences, a continuing series

I have no idea what number we're up to now. I think the basic rule of this Law is, if you do something in haste, in an emotional state, you are 100% more likely to do something that has (multiple) negative unintended consequences.
That said, here's this week's installment.
If the "TARP bonus" bill the House passed today becomes law, any of the hundreds of thousands of people who work for Citigroup, Bank of America, AIG, and nine other major US corporations will have to fork over 90 cents of every bonus dollar that puts their household income over $250,000.

That's household income, not individual income.* If you're married and filing singly, you'll have to surrender anything over $125,000. Indefinitely.

(h/t MR)

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