Moving with the speed of the Flash the House passed a bill today that would heavily tax bonuses given to employees in companies that have received bailout funds. The bill if it passes will impose a 90% tax on bonuses given to employees with family incomes greater than 250,000 dollars. Clearly this bill is an arrow pointed at AIG executives who just cashed their collective 165 million dollar retention bonus checks this week. Nancy Pelosi was quoted saying “We want our money back now for the tax payers!”
I should be happy right? I mean anyone who has read this blog in the past few months knows the outrage I have felt over AIG and their shenanigans. Finally they are getting hit with a sock full of nickels right in the mouth. This is what we wanted, the money back, right? I should be happy!
But you know what, I ain’t! This is wrong! Maybe not as wrong as AIG wrong (Cause they are REALLY wrong) but this is still a little wrong. And two wrongs don’t make it right.
The bill passed in the house today with a vote of 328-93. 243 democrats and 85 Republicans voting yes and 6 Democrats and 87 Republicans no. I really need for this to get voted down in the Senate.
I get it, we are all upset and yes we want the money back, but this whole taxing one group of folks specifically screams abuse of power to me. And while I love my country I am always honest about her. We are a young country; we are teenagers with daddy’s car keys and a learner’s permit. There is nothing I can point to in our history and say with any confidence that this step we are about to take is one we can handle with any real responsible.
I welcome any debate that anyone has. Prove me wrong, talk me down. I don’t really have an answer as to what we should do, but I know what we should not…..