Poll: Americans Want The Bonuses Back

Most Say Bailed-Out Companies Shouldn't Be Giving Bonuses At All, CBS News Poll Shows

(CBS)  Americans find it unacceptable for companies receiving federal bailout money to pay their employees bonuses, according to a new CBS News poll, and a majority say the government should try to recover the $165 million in bonus money recently paid to employees of insurance company AIG.

The public doesn't agree with the argument made by some in the financial services industry that bonuses are necessary to attract and retain the best employees.

Sixty-five percent of the people polled said companies receiving federal bailout money should award absolutely no bonuses. About a quarter (26 percent) said it was acceptable to give bonuses only to mid and low level employees, while only 6 percent said companies on federal life support should be able to hand out bonuses to whomever they chose.

Partisanship did not affect people's views on this issue - most Democrats and Republicans agreed bonuses in such cases were unacceptable. Those with lower education and income levels were a little more apt to find bonuses for rank-and-file employees acceptable, but most still deemed it unacceptable for these companies to give employees bonuses at all.

AIG Bonuses:

Just over a week ago it was announced that the American Insurance Group, Inc. (AIG), the ailing insurance company that has received over $170 billion in loans from the federal government, recently paid bonuses to employees. Seventy-seven percent of Americans think the government should try to recover the bonus money paid by AIG.

Democrats are most likely to support trying to recover the money (85 percent), but most Republicans (68 percent) and independents (74 percent) concur.



Moreover, 76 percent of the Americans polled didn't think the government should provide any additional money to AIG to prevent the insurance giant from going into bankruptcy. Just 15 percent said AIG should be given more government money if needed.

The Need For Bonuses:

Some executives in the financial industry have defended paying bonuses, arguing that they must do so in order to attract and retain employees. Americans do not share that view: just 23 percent of those polled agreed that banks and financial institutions need to pay some employees large bonuses. Seventy-one percent disagreed.

We're Watching:

Many Americans said they were closely following the story, with 57 percent saying they had heard or read a lot about corporate bonuses, and another 29 percent saying they had heard or read some. Just 14 percent of those asked said they had heard not much or nothing at all about it.



Those paying attention to the story were more likely to have said the bonuses are unacceptable, and that the government should try to recover the bonus money already paid to AIG employees.

Despite weeks of "outrage" from lawmakers and testimony last week by AIG's CEO on Capitol Hill, 35 percent of Americans said Congress has still spent too little time on the issue. Just 26 percent said lawmakers had spent too much time on it, while about the same percentage said the right amount of time had been devoted.

More - but still less than half of those polled - said President Obama has devoted about the right amount of his attention to the AIG bonuses.

Click here to read the complete poll. (PDF)

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This poll was conducted among a random sample of 949 adults nationwide, interviewed by telephone March 20-22, 2009. Phone numbers were dialed from RDD samples of both standard land-lines and cell phones. The error due to sampling for results based on the entire sample could be plus or minus three percentage points. The error for subgroups is higher.

This poll release conforms to the Standards of Disclosure of the National Council on Public Polls.

[elstarko]

I laugh at one CEO who got millions in bonuses and wants to give it to "a 'charitable organization." Ho, ho! That's just another way to control that money and probably end up with his favorite "charitable organization" that he will profit from, himself. These guys claim to be "conservative"... but very "liberal" when it comes to stuffing their (and their friends) pockets with our money.


WAKE THE TOWN AND TELL THE PEOPLE TO HOLD THEIR FEET TO THE FIRE !.

[poeticaintit]

I wonder if a poll was taken how many people would like congress to give back its' compensation or at least the raise
Posted by pumpminer

How about insisting Congress give back all the donation money Wall Street...the unions...the banking systems...AIG...Hollywood has given them in the last 18 months? Notice they never mention the money these industries GAVE TO THEM...just the bonus money they gave to their employees. Have Congress give back all the money to the very people they are tapping with punitive taxes....maybe they wouldn't need all that BAIL OUT money afterall. Congress is sick...perverted...insane. Every word they've used to describe business ahould first be applied to them.

[poeticaintit]

If we've learned ANY THING from all of this it is that 90% of Congress is NOT LISTENING TO THE PEOPLE because 70% have been yelling at the top of their lungs to STOP THE FREAKIN BALE OUTS since they decided to save every loser begging for money. Pelosi, Reid, Frank, and Dodd couldn't care less what THE PEOPLE want...they have their own agendas...complete with lies and excuses...to get what they've wanted for the last 3 years. They are out of control....period. Now they have set their sights on salary caps for anyone they 'determine' to be paid too much. It won't stop there...when taxes are used to openly punish...it's just the beginning. But because 40% don't feel threatened...nothing will stop them. By the time that 40% realizes any one can be tagged...the damage will have been done.

[dsr57]

I'm just as mad as everyone else about these bonuses but how can you pass a bill after the fact to tax them??

That just isn't right. And if congress does in fact do it then it's going to lead us down a path that we don't want to go...Who's to say they wont decide regular Americans haven't paid enough taxes for the past five years and say that you owe back taxes payable NOW

[pumpminer]

I wonder if a poll was taken how many people would like congress to give back its' compensation or at least the raise

[swin5]

Forget the bonuses - I want the bailout money back.

[taxed2debt]

I was waiting for AIG's Liddy to tell that blow-hard, gas-bag Barney Frank that he wouldn't release the names until the Congressmen himself confessed to all his wrong-doings that caused this whole mess!!
I'd like the AIG employees that rec'd a bonus to TAKE A STAND and tell the Congress to 'go pound salt - you're not getting the money back!' (I'd give it to charity and make certain I took my tax deduction!)
Not only is the idea of a 90% tax on these people unconstitutional, but all Federal Income taxes are unconstitutional! I'll be happy to pay my Federal Income taxes when ANYONE CAN SHOW ME THE LAW!

[quapawsix]

AAAh the sweet smell of world wide Socialism :)

[whitemale08]

Where has our American spirit and intelligence gone? This country has gone insane!
Posted by megawhy at 9:36 AM : Mar 23, 2009 --

The reason why citizens are looking to government like in Venezueal is because Wall Street has failed us and so has the so-called 'private-sector'.

If you think we are just going to sit here and starve to death while the politicians we elected to 'do something' 'do nothing' then you're crazy..

Go back to England, you British Fascists!

[megawhy]

If I were any company in this country I would never take money from the Government. Once their hands are in the company it will fail. Most Americans have no clue how to run a company and are operating on a Democratic Mob mentality. Americans are becoming like the Venezuelans and are beginning to look to the Government for their needs.

Where has our American spirit and intelligence gone? This country has gone insane!

[aheadace]

Rowdy it was Bernanke and Paulson

[whitemale08]

The bonuses are just 'pennies',

WE WANT ALL OF THE 100's OF BILLIONS BACK FROM THE COUNTER-PARTIES IN LONDON WHO SWINDLED THE AMERICAN PEOPLE WITH THIS WORTHLESS DERIVATIVES AND CREDIT-DEFAULT SWAP CRAP!!!

[trillion1]

This is why I don't vote for incumbents. They stopped representing me years ago.

[olyboy]

AIG is a special case because of the government ownership. However, if we want to see some level of sanity in executive pay, we need to require that board memeber be NOMINATED and elected by shareholders, rather than having the board or CEO pick their cronies. I would argue that no executive that doesn't have significant personal ownership, and therefore risk related to the company net worth (rather than his own), cannot possibly provide value worth eight figures in salary and bonus. I also think that stock options have created similarly unbalanced compensation at lower levels, and have created motivations that are not in the interests of long-term shareholders.

[credibility2]

Mob mentality and mimicry. Doesn't take much intelligence for either. The media, the Congress and the president have fomented this type of disdain and bitterness with their sanctimonious and hypocritical rhetoric.

[hankvreeland]

Hey guys! Congress passed the bonus bill without reading it. The AIG bonuses were spelled out in it yet the House approved it overwhelmingly. If anyone should have ninety per cent of their money taken back its these people whose salary we pay and who are so occupied with throwing up smoke screens that they don't do their jobs. Both sides of the aisle have failed us. Again

[cmc1227]

Bernanke and Geithner marching to congress the week of 9/11/2008 in secret informing them there was a $550 billion dollar raid on US money market accounts....in less than two hours...and their big claim that if we didn't pour billions of dollars into banks the WORLD economy would crash in 24 hours.

Then they put a cap on withdrawals of $250,000 so Americans couldn't get their money out when they heard about the big manufactured crisis....that BERNANKE AND GEITHNER orchestrated.

Nice Geithner payback by Obama, wasn't it, for manufacturing such a good crisis right before the 2008 election wasn't it. Just put Geithner in charge of the whole stealing operation!!!!! And continue to strip Americans of all their pubic money

Ask Geithner and Bernanke whose name is on all the foreign bank accounts where TARP reciipients put all those BILLIONS? Nine will get you 10 that it's NOT foreign governments...and I'd be willing to bet it's only a select few that only Obama, Geithner, Bernanke know exactly who they are.

Ask them how many pennies will be left on OUR dollar after they print up several trillion dollars, and the rate of inflation expands all the way to kingdom come?

Posted by Rowdy100

SOURCE PLEASE!!!!!!!!

[pensacola8-2009]

Legislating out of anger is not best for this country or any other. I would expect such things from Iran or some place where clerics seem to influence the public with their anger or rhetoric, but I wouldn't expect something like that from the USA or England.

I would like to see a reversal of the house bill with reference to the previous agreement.

I would like to see a substitute bill passed that states, "No Industry or firm that recieves bail out loans or grants from the federal government shall continue to engage in lobbying at federal, state, county or city levels of government until all their funds are repayed."

[truthseeker60]

Bible thumpers, this is what you asked for
Posted by anti-zionist_007 at 6:22 AM : Mar 23, 2009

You Mean Tora Thumpers...

[quickly101]

When I was teaching, we use to tell our administration and the board of education they should grant raises to teachers who perform well inorder to keep good teachers. The administration and board ALWAYS responded; "Go ahead and quit, we have a stack of applications on file from people who we can hire to take your place" Too bad corporate America does not have that attitude.