Reid: Special tax on AIG bonuses coming soon

At an unrelated hearing Tuesday at which IRS Commissioner Douglas Shulman was testifying, Baucus asked the nation’s top tax official, “What’s the highest excise tax we can impose that’s sustainable in court?”

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Shulman did not respond directly, but Sen. Bill Nelson, D-Florida, chimed in to suggest the tax could be as high as “90 percent.”

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