Britain Slaps 50 Percent Tax on Bonuses

If they can do it over there, why can’t we here? Britain announced on Wednesday a one-time tax that will take 50 percent of all bonuses above $40,800. It will be imposed on the pool of bonuses and paid by the banks, not by the individual recipients of bonuses. It affects all banks, regardless of whether or not they took government assistance. The New York Times calls it “the most direct attack on bank bonuses anywhere in the world.”