Friday, March 20, 2009

How Did They Know...?

"A fondness for power is implanted, in most men, and it is natural to abuse it, when acquired." --Alexander Hamilton, The Farmer Refuted, 23 February 1775

House passes bill taxing fat AIG and other bonuses
House passes bill to tax employee bonuses at AIG, other companies with big bailouts Tom Raum, Associated Press Writer
WASHINGTON (AP) -- Denouncing a "squandering of the people's money," lawmakers voted decisively Thursday to impose a 90 percent tax on millions of dollars in employee bonuses paid by troubled insurance giant AIG and other bailed-out companies.

In some cases the bonuses might be taxed 100 percent leaving the recipients with nothing.....

Komrade Pelosi and company have been touting this class warfare their entire political career. Now that they have complete power, they can put it into action.

Let me be perfectly clear:
1) The employees of AIG who received these bonuses EARNED these bonuses legally. They have done nothing wrong. It may have the appearance of impropriety, but these are legal binding contracts.

2) Congress (i.e., Chris Dodd) had the opportunity to limit bonuses when they wrote this legislation.

3) According to Chris "Friends of Angelo" Dodd and "Chuck You" Schumer , the Obama administration insisted the language allowing these bonuses be included in the bailout package.

4) On one hand "San Fran Nan" wants to ignore the immigrations laws, while in the other hand, pass excessively narrow and likely unconstitutional laws to confiscate legally earned money in the name of "fairness".

So I go back to, "How did they know...?"

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