Skip to comments.AIG Bonuses Renew Call for Congress to Read Bills
Posted on 03/27/2009 2:41:13 AM PDT by An.American.Expatriate
The fine print in the stimulus bill authorizing the AIG bonuses, which was rushed through the U.S. Congress at lightning speed, has led to a renewed call for politicians to read legislation before they vote on it.
(Excerpt) Read more at cbsnews.com ...
Yeah. Make 'em read the bills TWICE.
Some of those “bonuses” were really just their pay. They didn’t get payed otherwise.
Is there some tax reason to take all your income as a “bonus” instead of as normal compensation?
The situation is seriously screwed up.
>Is there some tax reason to take all your income as a bonus instead of as normal compensation?
Oh yes. Many. Talk to a CPA.
The only thing you could avoid is medicare tax isn’t it.
Social security is capped.
While making them read the bills before the vote would be a definate improvement ....
It would be far better if:
1. The bills introduced were comprehensible, and
2. Our legislators actually UNTERSTAND what they read!
Take for example, this excerpt from the “GIVE” Act:
SEC. 1101. PURPOSES; SENSE OF CONGRESS.
(a) Purposes- Section 2(b) (42 U.S.C. 12501(b)) is amended—
(1) in paragraph (2), by striking `community throughout’ and inserting `community and service throughout the varied and diverse communities of’;
(2) in paragraph (4), by inserting after `income,’ the following: `geographic location,’;
(3) in paragraph (6), by inserting after `existing’ the following: `national’;
(4) in paragraph (7)—
(A) by striking `programs and agencies’ and inserting `programs, agencies, and communities’; and
(B) by striking `and’ at the end;
(5) in paragraph (8), by striking the period and inserting a semicolon; and
(6) by adding at the end the following:
`(9) recognize and increase the impact of social entrepreneurs and other nonprofit community organizations in addressing national and local challenges;
`(10) increase public and private investment in nonprofit community organizations that are effectively addressing national and local challenges and to encourage such organizations to replicate and expand successful initiatives;
`(11) leverage Federal investments to increase State, local, business, and philanthropic resources to address national and local challenges;
`(12) encourage national service efforts to address pressing national challenges, such as improving education for low-income students, increasing energy conservation, and improving the health, well-being, and economic opportunities of the neediest individuals in the Nation;
`(13) expand and strengthen service-learning programs through year-round opportunities, including during the summer months, to improve the education of children and youth and to maximize the benefits of national and community service, in order to renew the ethic of civic responsibility and the spirit of community to children and youth throughout the United States;
`(14) assist in coordinating and strengthening Federal and other service opportunities, including opportunities for participation in emergency and disaster preparedness, relief, and recovery;
`(15) increase service opportunities for our Nation’s retiring professionals, including such opportunities for those retiring from the science, technical, engineering, and mathematics professions to improve the education of our Nation’s youth and keep America competitive in the global knowledge economy, and to further utilize the experience, knowledge, and skills of older Americans;
`(16) encourage the continued service of the alumni of the national service programs, including service in times of national need;
`(17) support institutions of higher education that engage students in community service activities, provide service-learning courses, and encourage or assist graduates to pursue careers in public service in the nonprofit or government sector; and
`(18) encourage members of the Baby Boom generation to partake in service opportunities.’.
Without actually geting a copy of 42 U.S.C. 12501(b) and checking each and every change - NOBODY can really say what this bill is actually allowing!
Considering that these types of changes are myriad throughout the bill - it is no small effort to actually KNOW what the bill is allowing/disallowing, etc...
Add to that, that almost every bill introduced contains these type of changes, it is nigh IMPOSSIBLE to know what our representatives are planing!
Better yet make them summit a report on it which is required to be posted on their website till the next election.
Better yet make them summit a report on it which is required to be posted on their website till the next election.As I posted in an earlier thread:
Companies can't write off "salaries" over 1 Million , Hence Bonuses.
If I recall,
someone in the House did make the request to read it...
...it wasn’t granted ...
It’s not like bonus’ are something new.
For every law passed, 100 pages of the IRS code needs to be eliminated.
Actually a lot of this business of lack of knowledge about what is in the bill...could be virtually eliminated if we disallowed pork insertions.
If the liar in chief had actually posted this bill online for five days before signing this and other sneaky provisions would have been exposed.
Yes! Read twice and submit an outline showing they know the major points!
We need a simple constitutional amendment: Any law based on socialism, communism, fascism or Marxism is illegal.
Nazi Nancy won’t allow congress to Reid the bill. Imagine if Bush was this closed and secretive? The Establishment press corpse would be having a cow.
Pray for America and Our Troops
Is it too much to ask that our congresscritters take their jobs seriously? There should be repercussions for not following through on their fiduciary duties. For voting ‘present’ or being MIA. I guess I'm just to accustomed to accountability in my professional life...
At some point, one would probably think, if no one has read it, then who in the hell wrote it?