AIG employees - Why you should donate your bonuses instead of returning it
Lately many top AIG employees who were targeted by Congress in the $165 million "Bonusgate" incident have returned their bonuses. Some people are still holding out, and in my opinion, they would be better off if they simply donated their bonuses instead of returning it to AIG. Here is an open letter to these employees and others who may be targeted and threatened with confiscatory taxes.
Dear targeted bonus-receiving employees,
If I were in your shoes, I would be furious at the congress critters who have no idea what merit pay means. After all, they have the power to vote for their own pay raises even though their approval rating were in the single digits. Right now you are simply a tool for some political smoke and mirrors to distract the citizens from the trillions of dollars the government is throwing around carelessly. I think many of you know that already, and it sucks to be the scapegoat.
Many of you already promised to give your bonuses back, but why would you return the money to an institution that we all know is failing? If you do not need the money, I think it would be much better to give the money to a local food bank, homeless shelter, or whatever charity you support. Many of these private nonprofit organizations are much more efficient than the government in helping those in need. Right now many charities are in need because less people are donating, and the millions you have will definitely help.
If you do donate your bonus, the government cannot tax it 90% because the money is gone. I also highly doubt that they will go after a charity for the money because that would just be plain tacky. You would actually get significant tax deductions for the money you donate and in a way say "screw you" to those who are trying to single you out for their own political gain.
If any of you do decide to donate your bonus and it is a significant amount, I suggest making a ruckus about it and tell the media. This way you will get some good PR. Seriously, why give the money back to a financial black hole when you could get your name on a building and help the homeless?