Punchinello’s Chronicles

March 19, 2009

Shoot the Wal-Mart Greeters?

Filed under: Butterfly Wings — Punchinello @ 2:46 pm
Tags: , , ,

As stunning as it may seem, we have people demanding that AIG bonus recipients should be lined up against a wall and shot! There are enough people wanting to kill these men and women that we’re hearing about it in sound bytes all over the media.

And these aren’t crazed lunatics! They’re ordinary folks, and of course, some members of congress.

The rationale is that because a company is taking government money, therefore we should take over the company. We should stop paying anyone for the work they did to cause the need for bailout money.

In many ways, that’s like government regulations demanding airline mechanics stop immediately wasting money on de-icing planes in winter. Then when planes start crashing, firing the mechanics for failure to perform. That’s what happened with government regulations being a large part of why AIG got into trouble.

So now we find out that Wal-Mart hourly workers will be receiving approximately $2-billion in bonuses this year. Bloomberg financial news has the story.

At the same time, congress has just voted on and passed “legislation” that taxes away 90% of any bonus money made in the financial industry. Forget that these people typically receive no salary, and a “bonus” is their income. Shouldn’t we also assign a 90% tax rate to tips received by waiters and waitresses?

Assuming we’re going to be consistent, which isn’t going to happen anymore, shouldn’t we first take away 90% of the Wal-Mart employee bonuses? Then, secondly, line up these employees and shoot them?

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