Tuesday, February 3, 2009

"The Height of Irresponsibility"

"That is the height of irresponsibility. It is shameful." - President Barack Obama, January 29, 2009.

This quote refers not to his now third administration appointment having tax problems, but to the bonuses awarded in 2008 on Wall Street (18.4 Billion).

First, I do think that CEO bonuses have gotten extravagant, but essentially they are chosen by the market.

Second, they are not illegal (yet).

Third, I'm pretty sure these CEOs at least paid taxes on those very bonuses.

By my account, we have tax problems with:
Treasury Secretary Timothy Geithner
Tom Daschle, "Health Care Czar"
Nancy Killefer "Performance Czar"

Not to mention Bill Richardson's withdrawn nomination for Commerce following allegations over a pay-for-play scheme.

Good to hear that we're tackling corruption in Washington. More change please! Just don't expect me to pay taxes on it!