End Tax Break for AIG

Target: United States Congress

Goal: End special tax break for American International Group

In 2008, American International Group (AIG) received a bailout from the United Sates government so it could continue its business of insuring other large companies. While AIG has repaid this bailout, the company continues to receive a special tax break from the government, which is worth billions of dollars. AIG is no longer in need of this tax break, which is currently benefiting the executives and shareholders of the company more than clients and taxpayers. This tax break is no longer required to bail out AIG and needs to be ended.

Recently, AIG threatened to join a lawsuit against the United States government for damages from the federal bailout. This threat has spurred public outrage over AIG’s lack of gratitude to the government as the company continues to receive billions of dollars in profit because of the granted special tax break. While AIG has not joined the lawsuit, the outage remains. The company continues to seek money from the government while the tax break continues to provide profit for the executives and shareholders.

Massachusetts Senator Elizabeth Warren has been one of the leaders in this discussion of AIG’s finances. In a statement about the company, she wrote, “Enough is enough…These special tax giveaways give AIG a competitive advantage over its competitors—all the while inflating AIG’s profit numbers and compensation for executives.” AIG is no longer in need of the tax break. The company should not be asking for more money than the government has already given, when the current tax break is providing profit for executives and shareholders instead of helping the company. Demand Congress end AIG’s special tax break today.

PETITION LETTER:

Dear United States Congress,

Recently, AIG threatened to join a lawsuit against the United States government for damages from the federal bailout received in 2008. However, AIG currently receives a special tax break that amounts to billions of dollars of profit per year. Although AIG did not join this lawsuit, it has caused public outrage and drawn attention to this tax break. The tax break was intended as part of AIG’s bailout, but it instead provides profit for executives and shareholders.

I ask you to end the special tax break for AIG. The company has paid back the original bailout, and is clearly no longer in need of government assistance to continue its business. The tax break is only profiting the executives and shareholders of AIG. End the tax break and allow those billions of dollars to be put to the benefit of taxpayers, instead of one company.

Sincerely,

[Your Name Here]

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2 Comments

  1. Big business will take whatever they can get, and this must stop. Meanwhile, the needy are blamed for entitlements and social security, which is honestly financed by tax payers.

  2. Robert Ortiz says:

    Companies don’t need so many tax breaks or such huge ones, it’s the people that need them in order to survive and in all honesty without the patronage of the people, these companies wouldn’t exist at all.

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