why-a-tax-on-bonuses-is-stupid-and-dangerous

Why a tax on bonuses is stupid and dangerous

Whipping up moral outrage isn't a solution, it simply panders to the lowest common denominator.

Ok, I admit it, last Wednesday I was glued to the television watching BBC's broadcast of American International Group CEO Edward Liddy's testimony before the US House Financial Services subcommittee about the $165 million in bonuses paid to executives of his bailed-out company. I held my breath, hoping that the BBC wouldn't cut away to news about Austrian murderer and rapist Josef Fritzl or a fire in central London. I wanted them to stick to the story that mattered to the world. I wanted to watch every twitch on Liddy's face, and I couldn't wait for what I knew would be and was a scrumptiously amusing cross-examination from Barney Frank, the ever colourful Massachusetts...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222