On The Bright Side, Maybe This Means Reservations At Per Se Will Be Easier To Come By
Then again, most of Manhattan may shutter before that happens:
Posted: March 20th, 2009 | Filed under: Follow The Money, Grandstanding, Well, What Did You Expect?Congress’ planned 90 percent tax on bonuses paid by bailed-out companies will snatch $12 billion at the very least from employees of firms that are based in New York City or have big operations here, experts said.
And that would have a dire effect on the city’s economy, impacting everyone from top luxury retailers to taxi drivers to tax collectors.
The crushing tax passed in the House yesterday would affect workers who make over a quarter-million dollars a year at companies that took more than $5 billion in rescue funds from the taxpayers.
Several executive-compensation experts said that under those standards, at least half of all of the windfalls granted by bailed-out firms would be affected.
“And that’s a conservative estimate,” said Chuck Collins, a compensation expert at the Institute for Policy Studies.
For example, he said, at least 50 percent of the $2.6 billion that Goldman Sachs gave its employees in bonuses would likely be hit with the tax.


