Some Real Outrage (The most overused word of the Obama Years, along with Smart and Crisis)
I'm not a lawyer and I'm sure my lawyer friends will point out precedent and court cases that will negate my opinions here, but that's okay, that's America. But what's not American (or shouldn't be) is currently being churned up in Congress as I type this. Members of both parties, hopped up on populist roofies, are starting to build cages for freedom.
Why? Because of $165 Million in bonuses to AIG. (Doesn't everyone hate those letters already?) The House has passed a bill to tax up to 90% of all bonuses from companies that received more that $5 billion in federal bailout cash. Now if this was only for future bonuses then they could do it, I wouldn't agree, but it is in their legal right. But what about contracts that have already been written!? Violation of contracts by anyone, including the monolithic federal government, would be the real outrage. What a terrible signal that sends to the citizens of this republic and the world! The USA cannot justify changing and altering contracts they don't like. This is something that fascists and Hugo Chavez do. Do we really understand the ramifications of such a terrible action? The protection of contracts between individuals and companies is one of the key pillars of our freedom.
The other detestable potential action of Congress is the ex post facto odor of this retro-active bill. This is a weapon Congress should never use. "The power to tax is the power to destroy," to quote Chief Justice John Marshall. This tax is doing just that. They are destorying something they don't like that was legal at the time. Do these fools know history on any level? Do they really want to be apart of such an odious abuse of power? I know the populist outcry is LOUD, but really. They should tell the hoi polloi to shove it. I don't like the bonuses but civilizations are not run on what we like. They are run on respect for the rule of law. We have founding principles for a reason that have weathered 232 years of unparalleled success. You stick to them, especially when the issue is not critical.
We also have a $3.6 TRILLION budget on the table and our Congress is worried about this pittance of a bonus? Gain some freakin' perspective already. President Obama should veto any bill that reeks of this tyranny. And if he doesn't have the sense the Supreme Court should come out and crush this, just as I'm pretty sure Justice Marshall would do.
Here's to real hope that reason and justice come out on top, not blind emotionalism and rage-soaked rash action.
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