Another Way Regarding the Bankers

For the sake of argument let's assume that it would be unconstitutional to execute the nation's bankers by guillotine just because they earned it and it would be fun. If Dick Cheney were still Vice-President we wouldn't be quibbling over constitutional niceties when there is gratuitous pain and suffering to commit. But, we're supposed to be better than that. (How boring.) So, is there some alternative that doesn't include thumbscrews and pouring tap water up people's noses?

Jerome a Paris at DailyKos suggests taxing bonuses, in all their forms, at a higher rate than salaried income. Salary and wages, standard income, is taxed at one level. Non-standard employee income would be taxes at a significantly higher rate. If the highest marginal tax rate is 35%, the tax on non-standard income would be, say, 50%. This higher tax would not just be for bonuses but for scooting around on vacation by corporate jet, free taxi service by corporate limo, and stock options - the difference between the purchase price of the stock and the market price at the time of purchase would be taxed as income at 50%. Of course, we know that Republicans will try to make this tax apply to salaried workers making overtime so we need to exclude hourly wages.

And, if that doesn't work, it's not hard to build the national razor. Instructions plans are available.