Topic: Bonus Tax

The U.S. House of Representatives passed a bill to tax bonuses at bailed-out institutions at a 90% rate for those earning over $250,000. The hosts compare this targeting of a specific occupation to historical precedents of state-sponsored discrimination, warning that the IRS is being used as a punitive weapon against citizens.

The 90% bonus tax is characterized as a "red herring" designed to appease public anger while being legally unenforceable. Senator Chris Dodd is identified as the figure who originally protected these bonuses, which are described as a redefinition of salary to bypass TARP caps.