Skip to comments.AIG... What's the Big Deal?
Posted on 03/20/2009 3:54:21 AM PDT by LarryBrown
When was the last time you saw so many members of Congress so upset over $165 Million in spending? Are these not the same people who a few weeks ago said that the FEW BILLIONS OF DOLLARS of earmark spending in the Omnibus Spending Bill was "an insignificant amount of money?" Indeed, they are! So, I ask again, what's the big deal?
Simple! It's a smoke screen, a diversion and another attempt to shred the Constitution. They want to distract us from the fact that language was placed into the Stimulus Bill at the last minute which required these bonus payments by AIG. They want to distract us from the fact that the Bill was rushed through Congress so fast that none of the members had a chance to read the Bill. And, in their mob action in the House, they voted to violate the Constitution by targeting a specific, limited segment of the population with an additional taxation requirement and invalidate a legally binding contract between an employer and its employees. That's the BIG DEAL!
If they are allowed to get away with this, none of us will be safe from the same types of penalty. Congress will be able to say, "We think you made too much money so your tax rates will be double what everyone else is required to pay." Even your union contract won't be worth the pages it's written on. We better wake up America and let our members of Congress know immediately that we will not stand for this! Let the politicians' heads roll in Washington for what they specifically required AIG to do and leave our Constitution intact.
Larry Brown, Founder www.RevoltWithYourVote.com
And its not just about AIG, it applies to Morgan, Citi, etc...Why did they let the other banks pay bonuses in the first place? Answer: Because if they didn’t then they wouldn’t be able to take the money.
The bonuses they take from Morgan and Citi will dwarf the AIG bonuses, its billions.
Future revenue problems solved...
Can you imagine every bank that was FORCED to accept TARP funds and now their CEO’s are looking at a 90% tax on their bonuses even if they were solvent before?
I can’t help but feel so out of control. I am watching a coup on my government and most of my fellow citizens are asleep.
It means that capitalism is a better way than statism.
It is a big deal because Joe sixpack understands the bonus deal. It matters not that it is significant and a relative trifle compared to the trillions being squandered, it matters that Joe sixpack gets it and now he can hear, "the emperor has no clothes" and look and see that which he was heretofore incapable of seeing or hearing.
This issue must be exploited to the very hilt. It is a major opening through the armor of the Obama mythology. It attacks the very premise of his administration which is that business is too greedy to be left unregulated by a benign government which is on your side.
The weasels already are working on alternative ways to gorge themselves on the windfall of taxpayer money.
Christy Pollak, a Morgan Stanley spokeswoman, said each award is "not a bonus," but is a nine-year "forgivable loan" that must be paid back if a broker leaves sooner.
People who feel guilty about what they’ve done often lash out in anger upon being confronted.
Did anyone ever confront someone who stole something or did some sin, only to see that person get red-faced indignent with denial.
That is exactly what’s happening here. The $165 million is not much relatively, but it speaks volumes about the total depravity of the Democrat Congress, (and GOP to a certain extent), and thus they are going spaztic.
If they are allowed to get away with this, none of us will be safe from the same types of penalty. Congress will be able to say, "We think you made too much money so your tax rates will be double what everyone else is required to pay."
Isn't it in the constitution...Chapter 11 or Chapter 13? /heavy sarcasm.
What a scam, eh? You think that's a scam...watch them extract/alter/inflate/deflate/devalue the "legal tender" acting as Federal Reserve Notes in your wallet or electronic entries in your 401k or bank account.
Criminals/thugs/gangs/collectivists/progressives/socialists...the root cause of all man-made problems.
As an aside and much ado about nothing, (and as a student to the law) I was always under the impression that any law passed could NOT be made retroactive (Ex Post Facto)
Therefore, I just a little curious on how this law taxing the bonuses (after the fact) could stand up in court?
If it were I who received one of the bonuses--and did not want to return it--I think I would consider exploring this "rule of law!"
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.