Photo

Reuters Photojournalism

Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography.  See more | Photo caption 

Photo

Rage in Brazil

Mass protests erupt in the biggest cities of Brazil.  Slideshow 

Photo

The Afghan Army

The many faces of the Afghan National Army, which has taken over security of the country from NATO.  Slideshow 

Sponsored Links

Sen. Schumer threatens huge tax on AIG bonuses

Related Topics

WASHINGTON | Tue Mar 17, 2009 12:31pm EDT

WASHINGTON (Reuters) - A senior U.S. senator on Tuesday warned American International Group Inc. employees to return bonuses they are receiving or face being slapped with a major tax on those payments.

"They should voluntarily return them (the bonuses). If they don't we plan to tax virtually all of it," Senator Charles Schumer, a member of the Democratic leadership, said in a speech on the Senate floor.

Schumer noted that AIG lost nearly $100 billion last year and is now being propped up by U.S. taxpayer funds. Providing performance bonuses to employees "Defines Alice in wonderland business practices ... it boggles the mind."

(Reporting by Richard Cowan)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.