H.R. 1586, according to the Speaker's Press release, will tax, at 90 %, bonuses of households (with more than $250,000 in household income) from any employee of any company that recieved more than $5 billion in TARP money.
LINK: HR 1586 Press Release
Now that they are going to tax "bonuses" every company will merely make these "bonuses" part of the employees base salary. This will avoid any 90% tax.
The solution is to tax all income, above $250,000, at 90%!
Is it OK to make $1 million in salary, but wrong to receive $100,000 in base salary and $900,000 in bonus from the same failing company?
Whether income above $250,000 is a bonus or salary it must be taxed at a much higher rate!