100% Tax?

[saden1]

Originally Posted by 70Chip

On a side note, the top rate in Britain was 95% for many years. Hence the line from Taxman - "There's one for you, nineteen for me..."

What I want to know is how much of this bailout money is winding up overseas? Obviously, all this bailout money goes to AIG and then goes right back out again to cover claims by entities that got swamped by the Securities meltdown. If it's the Chinese (or the English or Libyans or Whoever), I say "Tough Shit. Next time dig some wells or something. Build a school or a road with your trade-imbalance lucre. In fact the same goes for hedge funds, union pension funds, grandmas life savings - screw you. You gambled, you lost. Next time give the money to the poor like you're supossed to.

LOL...you learn something new every day.

I don't mind the money going overseas because our economic strength is partly predicated on the confidence of foreign investors to invest here. Plus those foreign guys bought legitimate insurance service and are entitled to receive compensation. What I do mind is letting AIG leverage 11 to 1. That's 9.5 trillion to 860 billion.


p.s. Forgive me Lord SS for providing links without pre-aproval.