N-400 to the bottom of the pile

This is outrageous.

The House overwhelmingly approved on Thursday a near total tax on bonuses paid this year to employees of the American International Group and other firms that have accepted large amounts of federal bailout funds, rattling Wall Street as lawmakers rushed to respond to populist anger.

It won’t pass the senate. It can’t. But if it does, I might go join the others in Galt’s Gulch.

Published by

Ragged Clown

Based in San Jose, California

11 thoughts on “N-400 to the bottom of the pile”

  1. It’s clearly a misuse of government power. What’s to stop them passing a punitive tax on fat, ex-addict talk radio hosts?

    The public anger at the Masters of the Universe gives Congress an unprecedented opportunity to radically simplify the tax system while making it fairer and more progressive. Instead, they seem to be doing their best to live down to a stereotype.

    If the senate passes the bill (which I doubt), Obama should veto is and propose a new tax bill that introduces a new tax bracket with higher rates.

  2. >What’s to stop them passing a punitive tax on fat, ex-addict talk radio hosts?

    Ones that have been given massive infusions of taxpayer money?

  3. Are you saying that there is nothing stopping them?

    There are a whole bunch of ways to fix bad legislation and contracts – punitive taxes are usually not the first tool of choice.

  4. Clearly the AIG bonuses are a sideshow, but the nature of the electorate makes them dangerous. The fact that you see them — side show that they are — as something to bury your N-400 over is good evidence of that.

    Yes, the bill is stupid and wrong-headed. Just the thing you’d imagine would come out of the House of Representatives. And yet for all that it still doesn’t rise above the level of sideshow.

    I think grading the administration should be based on more serious matters.

  5. The rolling stone article makes it all the more essential that Obama finds a constructive way to harness the anger instead of frittering it away on constitutionally questionable, populist nonsense.

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