A modest proposal

note: I'm becoming something of a class-warrior.
It just happened. I'm not proud of it.

Here's a modest proposal regarding disbursement of TARP funds:

No company shall receive future TARP funds if...

... 1. It received TARP funds in 2008
... 2. It paid employee/executive bonuses in 2008
AND
... 3. More than 5% of these bonuses exceeded $200,000.

Why $200,000?

95% of American households make less than $177,000.

I'm figuring a bonus that exceeds by $23,000 the income of 95% of households is the limit of fair compensation in the current environment.

Why 5%?

I don't want to punish the 'poor' worker bees who have come to depend on bonuses to supplement their salaries.
BUT: if more than 5% of the folks are getting excessive bonuses when their institutions are failing, that's a 'corporate governance' problem!

I'll be sending SecTreas Geithner this modest proposal shortly.
(I'll also copy my Rep & Senators.)