Posted on 03/19/2009 12:10:57 PM PDT by ConservativeMind
If you’re the Perp, but you can get the Mob turned against the town banker, while the mob is hanging him, you can more easily break into the bank and make off with the entire wealth of the town. The mob won’t know what hit them until after they’ve lost their jobs, homes, and ranches because the bank failed. That’s in addition to the chilling effects ‘Congress’ is having on Contract Law!
Congress has turned into a mob, more like a pack of wild mongrel dogs attacking everything in their path. Nobody is safe...nobody. But there are many who think they are part of the pack...and they aren’t.
This is unconstitutional in every way I can think of. More, it is purely deceitful...They, congress and ZERO signed this into law and now they are making it the fault of someone else. Self righteous indignation is all this amounts to.
This is another dose of TERRIBLE news for the Dying AMERICA.
Our Constitution has been trampled just as though congress and ZERO went to the National Archive, tore it from the vault and burned it on the National Mall.
I am sick to my stomach.
There were no contracts entered into by the taxpayers. Dodd's action, on behalf of the WH was a condition, not a contract, and that bogus condition is being corrected now.
There are a few things that are the bedrock of the capitalist system. One is the employment contract. It often includes things like salary, bonus, commission, benefits, etc.
In the porkulus bill they passed and signed into law they said they would uphold the bonus structure. That, whether I like it or not, was agreed too on behalf of the American taxpayer.
Turning around today and retroactively taxing 90% of it back?
Maybe I’m wrong, but doesn’t the legal concept of keeping to a contract pre-date even something as old and established as habeus corpus?
Damn right it's wrong. It's called a Bill of Attainder with the punishment set as punative taxation.
The 10th Amendment resolutions are nice, but nothing will get better until the states take a stand against this nonsense.
An interesting twist to this. The original TARP required bailout money recovered to be used to pay down the national debt. These taxes bonuses will go to the general fund and be wasted on liberal entitlements.
Add to Tea Party List...needs sign!
I think you may have numbers for a different vote.
Index of House Roll Call Votes here:
http://clerk.house.gov/evs/2009/index.asp
Vote Number 143, relating to HR 1586 here:
http://clerk.house.gov/evs/2009/roll143.xml
Vote Number 144, relating to some silly statement [note the vote on the bill] is here, and this is the vote you reference:
http://clerk.house.gov/evs/2009/roll144.xml
Yes, you're correct. But (there's always a butt), if that contract causes the business to go under, the shareholder loses it's stake in the company. The reason the US didn't take full ownership is because the FED didn't want to show AIG's liabilities (estimates exceed $3 trillion) on it's balance sheet.
Anyways, a shareholder can't invalidate a contract just because they find the contract terms untenable. They invested in the company and as such, were also entered as a de facto party to the original contract. So, while you're correct in asserting that the US taxpayer isn't on the hook in a "legal" sense, for all practical purposes, they most certainly are.
AIG failed! Did you miss that? The morons I noted that were recieving bonuses with taxpayer money held titles of CEO and general counsel. I'm sure the rest of the morons that caused the failure were recieving bonuses also.
The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary [of the Treasury] or the designee of the Secretary.
The amendment as modified by the conference committee was included in the final recovery bill passed by Congress and signed by President Obama.
Ah thanks!!! I got mine from here
http://www.house.gov/daily/hpg.htm
Roll Date Issue Question Result Title/Description
144 19-Mar H CON RES 76 On Motion to Suspend the Rules and Agree F Expressing the sense of the Congress regarding executive and employee bonuses paid by AIG and other companies assisted with taxpayer funds provided under the Troubled Assets Relief Program of the Secretary of the Treasury.
143 19-Mar H R 1586 On Motion to Suspend the Rules and Pass P To impose an additional tax on bonuses received from certain TARP recipients
Corrected link and bill for roll call vote
Spunkets, are you trying to set a record for how many times you can be wrong on one thread?
The stimulus bill is now a federal law, and so are all of its contents.
That’s not a condition or a correction.
It is law. The contracts are protected by the AIG bailout paperwork with the Treasury from Sept. 2008, State of Connecticut State Law, The Stimulus Bill,US Contract law and the US Constitution.
The only people as wrong as you is the Congress, one house of which just passed an unconstitutional bill of attainder against private citizens.
>>How long before that 90% tax gets applied to ANY bonus the Obama-bots deem to ?large??<<
About five minutes.
With all your emotional knee-jerking, I'm surprised your nose isn't broken...or is it?
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