Outrageous Bonuses for Executives

President Obama has the right idea by capping the bonuses for the executives of the companies receiving bailout funds. $500,000 is a good limit. Enforcing it may be an issue but there are simple ways to ensure compliance. One would be "special performance bonus taxes" on bonuses over $500,000 for both the company and the employee.

The employee would have to pay 50% on every dollar over the $500,000 limit. This tax would be separate from income tax and non-refundable. The tax rate for the business would be 100% for each dollar over the limit and also non-refundable. Income generated from this tax would go directly to paying off the national debt.

Let's use a $6,000,000 bonus to a CEO for an example. A bonus of that size would generate $8,250,000 payment towards the national debt; $5,500,000 from the business and $2,750,000 from the CEO. Looking at past outrageous bonuses given by businesses applying for bailout funds, the national debt could be paid off in just a couple of years.

If the company can only afford a total of $6,000,000 in bonuses for that employee then they need to pay the employee $3,250,000 and a tax of $2,750,000. The employee would pay $1,375,000. This would still generate $4,125,000 for the national debt. It is simple, if a business firmly believes that someone has performed well enough to get an obscene bonus, then national debt should also benefit from this stellar performer.
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US Chief Performance Officer

I would like to throw my hat in the ring for this position. I have never had household employees so there are no issues with their pay. I have never made over $50,000 a year so there is no way I could have an unpaid tax bill for hundreds of thousands of dollars.

I do have a BS in Management / IT Management and I have successfully managed a business. I more qualified than many other for this position. I have had to live with failure of many government departments not performing their jobs. All government agencies should always do everything for the American citizens as if they were shareholders in the company. Technically speaking they are but this fact is forgotten amidst all the brown nosing and political games being played by the old boy network. Their "What's in it for me?", "Who will get me what?" and "Give me more" attitudes have gotten us where we are today.

It is time for red-blooded, hard working Americans to take control of their government and hold them accountable. I am willing to use my gray matter for this purpose. President Obama give me the chance to help build America into a country we can be proud of again.
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