Just Asking

Sunday, March 22, 2009

Unpopular Opinion?

I'll bet I am out of step with most in this country, but I think that the idea of Congress crafting a bill to tax the AIG bonuses after the fact was just plain MEAN!

AIG approved the bonus program a long time ago, and the managers worked hard to earn those bonuses (not all AIG managers got them, only those who met their goals).

Thanks to Chris Dodd, Congress and the President approved the bonus program when they passed the $787 billion (pork-laden) bailout bill. Now, after they earned their bonuses, Congress wants to change the rules and tax those bonuses at a 90% rate? That is MEAN to use the power of Congress to attack a very small number of individuals. It is unconstitutional in my mind, and it might well be worthy of a court battle that goes to the Supreme Court.

2 Comments:

At 5:20 PM, Blogger Diane L said...

In fact, I believe there is already talk of it being unconstitutional. Bad precedent in any case. Congress is just reacting to public outrage on this issue.

 
At 2:27 PM, Blogger Pedicularis said...

The editors at Investor's Business Daily think it would be unconstitutional for Congress to retroactively apply a tax as well.

http://www.ibdeditorials.com/IBDArticles.aspx?id=322441589611857

 

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