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Name: Johnny 65
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The House passes punitive tax on bonus receipients

Posted by Johnny 65 on Friday, March 20, 2009 3:27:02 PM
Who are these guys kidding? First and foremost: this will never stand up to a challenge in the courts. You cannot introduce a retroactive tax! Especially with the sole purpose of singling out one group to punish them.

This is just one more example of how the democrats are trying to point fingers and feign outrage over something they screwed up. They are right now hurriedly trying to deflect attention from their blatantly bad policies and futile efforts to correct markets they in fact destroyed from the beginning.

However, let me throw this little thought out. If indeed this punitive tax stands up. And if this is supposed to be leveled because the AIG employees received these bonuses and shouldn't have as the result of receiving tax payer monies in a time of great fiscal crisis, then shouldn't congress itself be subject to the same scrutiny and punitive tax? Congress did just vote itself a pay raise during this same great financial crisis. Money that comes from tax payers. 

I will be anyone they wouldn't ever dream of being subject to the same standards they set for others.
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AIG Indignation?

Posted by Johnny 65 on Tuesday, March 17, 2009 4:43:46 PM
Apparently Obama's people are now "outraged" over the realization AIG has paid out bonuses to employees they were contractually obligated to pay. Wow! They are just now aware of this? Really? I find this hard to believe after the democrats wrote the bailout language in the bill.

When Sen. Dodd added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009”.

Oh, did the democrats ever consider the cost of breech of contract litigation? I think not!

It is quite obvious this latest outrage is more about the realization they know nothing about what they are doing in this administration and more importantly how they can turn this to their advantage.  

It will not surprise me in the least when democrats use this latest self made debacle to hasten efforts to rationalize seizing control of Americas business interests in new insidious ways. Consider for a moment their response today. In an effort to get back this money, and please do remember these bonuses were contractual obligations, the democrats are actively seeking ways to rule these contracts as being invalid. This will set a dangerous precedent for contract law in business further compounding the financial crisis in this country.  One largely engineered by their socialistic meddling. No one will be willing to invest money when they are unsure they can provide contractual safeguards.

While there is some backlash from the general public on this matter there are further reaching implications here as to just how far the government is willing to intrude into the free market system of this country. You can't suddenly cry foul when you've structured the content of the legislation to favor your interests. Case in point: 

Sen. Dodd being AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org. 

Obama and his "it was an honest mistake" tax evading cronies are looking to be more and more desperately hanging onto the economic tiger's tail. With each effort of the market to correct itself, they grasp at whatever perceived opportunity to insinuate themselves into the everyday lives of Americans. 

Watch them closely and critically! This is only the beginning. 
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