Turbotax

Congress' passage of the Bonus Tax Bill has incited as much blogging rage as the AIG bonuses did. OK, maybe not quite as much, but there are still more than a few hot pistols discharging out there.

Henry Blodget on Clusterstock says it's going to ding a lot of people who really don't deserve to be dinged. He calls it the Populist Rage Tax:

If the "TARP bonus" bill the House passed today becomes law, any of the hundreds of thousands of people who work for Citigroup, Bank of America, AIG, and nine other major US corporations will have to fork over 90 cents of every bonus dollar that puts their household income over $250,000.

About the author

Paddy Hirsch is a Senior Editor at Marketplace and the creator and host of the Marketplace Whiteboard. Follow Paddy on Twitter @paddyhirsch and on Facebook at www.facebook.com/paddyhirsch101

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