Skip to comments.House to vote on 90 percent tax for AIG bonuses
Posted on 03/19/2009 6:57:28 AM PDT by EBHEdited on 03/19/2009 7:34:42 AM PDT by Admin Moderator. [history]
WASHINGTON – The House is scheduled to vote today on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money.
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This is government using TAXES as punishment!
BURN IN HELL RANGEL!
How about congress returning their salaries to the taxpayers! ...both parties!
Yes, but I’m glad to see at least they were including Fannie and Freddie in the punishment. I figured they would have protected them.
How is that not a bill of attainder or post-facto law or some such which were all expressly forbidden in the constitution and bill of rights??
How about we start charging them for using "our" microphones?
I have major problems but they are directed at CONGRESS FOR CREATING THIS SITUATION TO BEGIN WITH!
People are being duped and misdirected with this issue altogether. It's extremely dangerous.
Isn’t there something in the Constitution about ex post facto laws and bills of attainer?
It is wrong.
By what Constitutional authority do they do this?
These people broke no laws, if they did...take them to court and not the congressional mock trial we saw yesterday.
Never under-estimate Barney Frank....
Watch the AIG BONUSES! LOOK, they are 165 MILLION!!!!!
And please pay no attention to the 170 billion in taxes that Obama is channeling to foreigners through AIG.
THE BONUSES,,THATS ALL THAT MATTERS!!!!!!
Since when do State taxes take only 20%. It looks to me like anyone taking a bonus will be in the hole.
opps... spelled that wrong... anyway - any constitutional experts out there?
What party is in power doing this>
Fannie and Freddie aren’t totally included because the bill only applies to bonuses paid after 12/31/08 and they received part of their bonus last year.
Today, its AIG, tomorrow its all of us, this is just the start!
Wrong on so many levels. Extortion by the U.S. government.
I cannot believe people are screaming about 165 million when the govt. is shafting us for trillions of dollars.
God, I wish I was as ignorant as the rest of the american public.
This is a bill of attainder. The very idea that they are attempting this is outragous.
Our govt has absolutely turned into the enemy.
Have ANY of these Bozos ever heard of the phrase “Bill of Attainder”?
well, just how detailed is this bill. ARe their loopholes for those ppl who received the millions to avoid being counted? e.g leave the company
Ex post facto ?
“We figured that the local and state governments would take care of the other 10 percent,” said Rep. Charles Rangel of New York, chairman of the tax-writing House Ways and Means Committee.
Pay your own taxes you asshat.
Ohhhh,,they clearly are, but that was written by old white men. The communist Obama is not bound to it. Didn’t he even say something about how we get to examine what is wrong with it for the modern times?
Its a fine nuance, but they don’t see the Constitution as a wonderful blueprint, they see it as mostly a nusiance that impedes their designs for us.
There is no other conclusion that can be made from this. Our national legislature is intentionally acting in an unconstitutional manner.
They are violating their oaths of office, and as such are traitors.
Of course there is and any that want to challenge this quietly in court will be able to get their funds back, perhaps with damages, but the law isn't really meant to deny them what the Feds originally allowed them to be contracted for on compensation.
The legislation is so the Senate and House can be made to look like they are doing something to protect taxpayers from their stupidity in electing them.
These bonuses paid to the guys in the Finacial Group that caused the Credit Swap mess was because few but they could untangle the mess of detail that would make it possible for the TARP money to be used to protect EU bankers. It was for them to stay around from their previously poisonous operation so the government could use our money to help bail out EU and Asian bankers that Dodd and Barney wanted protected.
They are just playing the shell game.
Anyone with any talent at all would be a fool to work for a company that took bailout money.
Unbelieveable. These sons of bitches like Rangel really think they’re bullet-proof!
Lord, deliver us from this socialist nightmare!
Let me get this straight. The Treasury, Administration and Senate Democrats create the loophole for AIG bonuses, then the House votes to tax said bonuses at 90%.
Truly a WTF moment if there ever was one.
The sheer hypocrisy of Rangel doing this is astonishing.
The arrogance and hubris of Congress knows no bounds.
Rand would call them the looters that they are.
With this administration at the helm, they will be looking for money anywhere they can get it, and then we will ALL be affected.
This should scare the pants off every single so called conservative out there.
Meanwhile back at the ranch. The Fed is down to its last bullet and surrounded by a mob of Chief Obamas cannibals. They are saving the last bullet for themselves after firing everything they had at the failed economy. Buy gold food and oil. Inflation is here to stay.
This is unconstitutional!!!!
I cannot stand it that the AIG bonuses (1/10 of 1%, as Rush says) are front and foremost focus of this latest hysteria. I was chilled to the bone to hear the CEO yesterday read some of the threats his employees have gotten — “You should all be killed with piano wire (to paraphrase extremely loosely).” “We know where you live, we know where your kids go to school, and we are coming to get you.”
It sounded like the French Revolution to me.
I think Congress and the media should be VERY careful with this. It could backfire big-time. Or perhaps it is EXACTLY their plan.
Evil to the core.
Too convenient that everyone is stirred up over this "bonus issue" but no one seems to worry about the BILLIONS being handed out like candy to entities that have nothing to do with improving our economic situation
And now you have the Gub'mint, coming in and taking away income/benefits from families that make over 250k$/year.
Now they have their precedent. Maybe they'll start making comrades out of the leftist elite first?
bump for later, after the vote
In effect, AIG execs will STILL get their bonuses, and their campaign payments to Dodd and Obama are STILL paying off.
This is all about the Democrats protecting a valued donor. It used to be called bribery in the old days.
I have no love for the Wall Street banksters who had a hand in our economic ruin, but what the government is doing right now is orders of magnitude more obscene. What Congress did to the new CEO of AIG yesterday was terrifying in its implications.
This is literally a witch-hunt, with mob rage being actively directed by the government to this handful of bonus recipients - who had legitimate contracts for same - over a piddly amount of money, in order to distract attention away from their multi-trillion-dollar money-laundering scam and outright taxpayer theft.
This must stop.
When will we ever have an AIG man, an auto executive, or some similar person in one of those star chamber hearings speak the truth?
When will one refuse the gavel and openly reveal what Barney Frank, Dodd, and others of the congress have done to cause this? Who will have the backbone and guts to stand up to them like Howard Hughes did when he revealed his congressional tormenters corrupt relationships with his competitors? Some businessman, somewhere, must still be a patriot. Who will endanger his career to save his nation?
What executive will be questioned about his bizjet and respond by rattling off a list of the private jet use by the star chamber before him? And keep reading it no matter what the chairman says or does? When questioned about bonuses, what man will reveal the personal extortion of the banks by Dodd, Pelosi, and Frank? That man will be a national hero. I hope he is out there.
They initially proposed doing this to ALL companies, whether they received Federal money or not. Barney had to back off on it, but the usual way this is done is to float a trial balloon, let it get shot down, and then bring it back some other way once people have adjusted to the idea.
In other words, we will soon have confiscatory taxes on anybody who earns anything over the government-permitted maximum. However, there’s one group that maximum will never apply to: those in government.
This is despicable. Using Congress to levy taxes because someone did what they were allowed even though excessive speaks volumes about the mentality of the RATs in the Congress.
Now can we set aside any inner-party wrangling in the GOP because everyone is not getting their way, and whip these guy’s in the 2010 elections and return some sense of ethics and common sense to the House. Get sick and tired of some people on here picking apart everything the GOP House members do when they have stood up this time with not enough votes to matter and keep getting it shoved at them. Makes me wonder just who the people are that are trying to split the Party. They sure don’t have the taxpayers best interest at part. We should be working together to throw the RATs out of power.
How about congress returning their salaries to the taxpayers! ...both parties!................................ Great idea! Now how do we get all those Lawyers (63%of Congress) to agree on it???? They only agree on their “raises”, cut backs? Ha, never happen!
James Madison, Federalist Number 44, 1788.
The good thing is that it is the Dims who are self-destructing on this. Even the MSM cannot fully cover this up although they are giving it their best shot. Still I am feeling good about the potential demise of Sen.Dodd, but my big fear would be him bowing out early for a more acceptable Democrat.
Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.
- Mark Twain, a Biography
It could probably be shown by facts and figures that there is no distinctly native American criminal class except Congress.
- Pudd'nhead Wilson's New Calendar (Mark Twain)
Its more than that. Its an attempt to retroactively tax someone based upon moral outrage of the public; in other words, its basically mob rule.
I couldn’t care less what happens to AIG, mind you, but it sets a terrible precedent. Plus, I’m pretty sure that selectively targeting specific individuals for taxation is ILLEGAL. Unfortunately, none of this surprises me given the current occupant of the WH.