Yesterday, in an act that was every bit as terrifying as it was appalling, the House voted by a margin of 328-93 to tax contractually obligated retention bonuses received by executives of companies that received at least 5 Billion in federal welfare bailout money. The driving motivation behind this- AIG’s payment of 165 Million in retention bonuses…or, for those of you who like to deal in hard numbers, 1/13 of 1% of the money they received.
even more disturbing is the Senate version of this bill, which would reduce the cutoff at 100 MILLION…
Part of the Democrat agenda that went ignored through TARP last fall and the “stimulus” bill in February was the concept of limiting executive compensation. Knowing that they couldn’t do it openly and brazenly, these devious miscreants have taken to loudly beating the drum of class warfare to gin up animosity against these “theiving bastards” and pave the way towards recapturing this money through unConstitutional targeted, punitive taxation.
Article 1, section 9 of the Constitution which reads in part,
“No bill of attainder or ex post facto Law shall be passed.”
…and what exactly IS a bill of attainder…?
“A bill of attainder was a legislative act that singled out one or more persons and imposed punishment on them, without benefit of trial. Such actions were regarded as odious by the framers of the Constitution because it was the traditional role of a court, judging an individual case, to impose punishment.”
So, what we have here, in effect, is Congress overstepping their boundries and taking the first step to determining what fair compensation is. Today, they’ve decided that these executives have been overpayed. Tomorrow, they may decide that YOU’RE being overpayed.
People, if you ever needed a more clear example of how completely out of touch with reality our elected officials have become, this is it. They are openly and defiantly trampling the Constitution. They know that they’re playing to the lowest common denominator of our society and they know that most of you are too cowed or ignorant to act on it or even know any better. They count on you being too lazy and too unconcerned with how this will play against your daily life to stand up to them and say “ENOUGH!” This is the Obama agenda people, right there in plain sight. This goes hand-in-hand with his whole “spread the wealth” line of bullshit. The idea isn’t to make all of us equally successful, it’s to make us all equally miserable and equally dependent on government.
People…listen to me…THIS IS WRONG!!! You have to stand up to this, you have have to fight this. If you rollover and allow this to happen, you just further empower them to continue down this path. This time, they slide something less open and obvious by you…what’s next?