"Sen. Chris Dodd wants to tax AIG retention bonuses at 90%, but Dodd added 'an exception for contractually obligated bonuses' into the stimulus bill! Once again, we have the real architects of this disaster acting like innocent bystanders who had no idea this was coming. We're being played for suckers with this populist assault to distract from Obama's poll numbers."
While sitting in the hospital this morning I must have heard that AIG story five times with various sanctimonious congressmen telling the Fox News folks how outraged they were at the bonuses and how they were going to introduce legislation to tax the money back.
Folks, that ought to scare all of us to death, the thought that Congress would pass a special tax law targeting a few selected private citizens for tax punishment because they don't like how they earned their money. I highly doubt such a tax would be Constitutional, but the idea it could even be considered is scary.
What if you work in an industry that falls into disfavor with some member of Congress? Would you think it appropriate that your industry was targeted and your wages taxed at confiscatory rates just because your profession is now politically incorrect?
This is all very troubling.
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