Posted on 03/19/2009 12:10:57 PM PDT by ConservativeMind
Acting with lightning speed, the Democratic-led House has approved a bill to slap punishing taxes on big employee bonuses from firms bailed out by taxpayers.
The vote was 328-93.
(Excerpt) Read more at breitbart.com ...
They are covering the other blunders as well, like the billions given overseas. They are mum on that, hoping we don't notice. This is setting a precedent to go in and break private contracts, no matter if it's a corporation or an individual, like you and me.
Why not? The politicians are already using AIG to launder bail-out money (taxpayer provided) which is then funneled to foreign banks. Yes, we are bailing out the world.
I believe the "outrage" the politicians are expressing is due, in no small part, to them wanting to keep the American public from learning that we are sending taxpayer dollars to bail out foreign banks.
Or just any amount over $250,000 per year?
And that won’t be the end, either.
“How long before that 90% tax gets applied to ANY bonus the Obama-bots deem to “large”?”
Or salary? Or inheritance? Or gift?
boy, this has got to be the best reason for hiding your assets
Next DC idea by libs?
“Tax Rush Limbaugh for the windfall of lies he tells about our new loved president. How dare he want P Obama to fail? How about a 90% tax of radio talk show hosts that make over a certain $$$ and have over so many stations. He is profiting on Obama’s misfortunes”
This is clearly within the enumerated powers in the Constitution, where? This is only the first of the enemy’s lists. Back in the USSA
Liberals vote in lock step. Conservatives split their votes because we haven’t had areal conservative run in a w3hile. Notice I didn’t use the word “repoblican”. That’s completely different from “conservative”.
I don’t think they do.
They came after the jews and I did nothing. They came after the Blacks and I did nothing. They came after and there was no one left to protect me.
+++ ++++++++ +++++ ++++++ ++++
Nailed it.
This is unconstitutional. I’m not a fan of bail out companies giving bonuses but we MUST MUST MUST defend our consititution.
I’m not sure, but I definitely have heard from multiple sources that they were part of the problem. It doesn’t make sense to me, but I do suppose it’s possible.
It doesn't require a crime ...
"Bills of attainder, ex post facto laws, and laws impairing the obligations of contracts, are contrary to the first principles of the social compact, and to every principle of sound legislation. ... The sober people of America are weary of the fluctuating policy which has directed the public councils. They have seen with regret and indignation that sudden changes and legislative interferences, in cases affecting personal rights, become jobs in the hands of enterprising and influential speculators, and snares to the more-industrious and less-informed part of the community." James Madison, Federalist Number 44, 1788.
You hit it right on the head, this is VERY dangerous. Targeting individuals for specific tax rates is further proof of the insanity of this congress and administration.
I’m sure this will be challenged in the courts. It’ll be interesting to watch how this plays out.
I agree this was true until the 16th amendment came along. I think they are using that as the umbrella.
The law which the 16th amendment is based on was found unconstitutional several times before it was made explicitly part of the constitution.
The fact that Barney Frank is still in charge of his committee is an outrage. He was the primary mover and shaker for all the bad loans to begin with.
I have often told people who doubt the bias of the media, that the worst bias is not the obvious stuff that they write (which is bad), but the stuff that they (the all knowing, all seeing editors) decide NOT to tell you.
That Barney Frank's role in Fannie & Freddie's problems in the housing/financial market has not received the scrutiny it deserves, is proof positive of this.
“This is very wrong. They are targeting specific individuals, after the fact, for something lawfully given.”
I disagree... Tax laws are almost always retroactive. Just because something is lawfully given doesn’t mean it cant be lawfully taxed. People who effectively bankrupted the company should not be compensated for it at the taxpayer’s expense.
Ping
The damage being done to "contract law" by this and the "cram-down" bill, that would allow judges to change the terms of a mortgage contract; is going to make everyone sorry. The rule of law in the form of contracts is a strong and necessary piece of doing business in America. I don't think anyone has really thought about what this is doing to contract law.
Applies only to criminal, not civil. Aren’t smokers targeted along with other groups with taxes?
If there is anything left of respect for the Constitution, this will be thrown out of court.
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