Tax TARP Recipients

I am outraged, too! What was Congress thinking... or at least the idiots who wrote TARP?!

Now I really like your style, Senator McCaskill, but you are singing to the choir out here. So roll up your sleeves & go to work fast to amend the tax code if you want to recoup most of that money.

Beginning with TY2008:

1. Apply a 70% tax rate to total salaries over $500,000 received from a TARP recipient, including stock options valued as of January 1, 2008.
2. Apply an 80% tax rate to the total value of bonuses received by anyone earning more than $250,000 from a TARP recipient.
3. Disallow any personal deductions up to the total amount of salaries and bonuses received from a TARP recipient.
4. Eliminate deductions for entertainment and marketing expenses claimed by a TARP recipient or by any employee of a TARP recipient.

If you can get this passed, you will be forever America's HERO!!!