Does anyone understand we are being held hostage by our government? When tax code is written to punish a small and specific group of individuals, things are out of hand.
Lawmakers voted decisively Thursday to impose a 90 percent tax on millions of dollars in employee bonuses paid by troubled insurance giant AIG and other bailed-out companies. They have effectively said we are seizing your personal property. This folks didn't steal thing money, it was promised (and some would argue earned).
I get why people are pissed off but let's not start a witch hunt here. Football player make a bunch of money. We should use that cash to pay for some things. Why not tax them at 90% for signing bonuses? Or lottery winners, and people who inherit money, or anyone making over $250,000 a year.
The window of the Bush blame game has closed. Treasury Secretary Timothy Geithner said he takes responsibility for knowing the stimulus legislation had a loophole that would allow bailed-out insurance giant American International Group to keep its bonuses. Obama's boy, who could not even pay his own taxes, admitted he KNEW about this. I posted this week that the shock and outrage for elected officials is FAKE! They knew and they voted for it. Time after time, the Bush administration, the Obama administration and Congress had an opportunity to attach limits on executive pay to legislation authorizing bailout money. And time after time, they refused.
Inventing new tax code is a horrifying prospect that shreds the constitution and every American who give a rip about liberty should call it what it is. UNACCEPTABLE. Maybe the pitchfork crowd should head to Washington instead of AIG.