US272 - 90% Tax on Banker Bonuses
I prefer overall compensation limits for bank executives. When we bailed out the auto companies, the government negotiated limits on union compensation. We should do the same for financial sector compensation to ensure that the public is protected against the tendency of bankers to greedily and dangerously push the envelope in search of short-term windfall profits and compensation. A 90% tax on bonuses will simply shift compensation toward salary. That might be a good thing, but it won't raise revenue or keep bankers from making millions through behavior that puts the financial system at risk.
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