The House of Representatives just passed a tax on Bonuses received by AIG executives at 90-100%. Yeah or nay?
This is locking the barn door after the horse is out. We are not a monarchy. Taxing AIG Bonuses after the fact is unconscionable. We cannot change the rules after we play the game. Don't applaud this folks. My initial reaction was good, but then, realize, what if they change the rules on you. What if we decide a parking ticket is now a $100,000 or some other arbitrary figure. Ridiculous? No less ridiculous than this. This will result in lawsuits all over.
The government was wrong to give these bailouts in the first place, now as the game progresses they are changing the rules. If you took the money then . . .
Some banks are trying to give back the money. Folks, you wanted change? I'm afraid we got it!
Our founding fathers must be rolling in their graves. "Taxation without Representation" was the cry, and will be again.
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Comments: 19
I had the same initial reaction, but it sounds more like a monarchy move than a republic. If the tax rules changed on you or me like this, we'd be screaming foul.
The government must think we are stupid.
Mooch
I agree 100%
Mooch
It is not that they think we are stupid, they just are just feeling empowered. One of the most dangerous things we can do is to let our government believe it has the power to do what we don't want them to do. Sadly we have done this for so long that Congress believes it is the ultimate power of the USA.
We the people are just those who foot the bill. Their actions in relation to our outrage proves this over and over. We really need to remove a great majority or our Congress in the next elections both Dems and Reps because they no longer care about what we want, just what is good for them.
Then again, the constitution has never really mattered much to congress.