House passes controversial, possibly unconstitutional, but full-of-lulz bill that gives two middle fingers to AIG, Fannie, Freddie and your other favorite TARP recipients:
Democrats rushed a bill to the House floor on Thursday to levy a 90% tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money.
The Senate bill is much broader than the House version — taxing bonuses at any company that received federal assistance, not just the largest ones. It would tax bonuses at 70%, split evenly between the company paying the bonus and the employee receiving it.
Nothing makes for better theatrics than a good old-fashioned bill of attainder! It’s really unfortunate that no one thought to make these kinds of provisions BEFORE giving these companies billions of dollars, instead of AFTER, but maybe I am just being all highfalutin with my 20/20 hindsight over here. But really, is a Constitutional solution to this problem too much to ask?
Jason // Mar 19, 2009 at 2:14 pm
I support the 28th Amendment, if that’s what it takes.
alyx // Mar 19, 2009 at 2:35 pm
Oh cool, if we’re gonna start adding stuff on I can probably come up with a decent list. How about flogging? You think flogging would pass muster?
Jason // Mar 19, 2009 at 2:48 pm
Now? I think we could bring back gaol and the stocks, if we wanted to.
Mark Dowling // Mar 19, 2009 at 2:49 pm
“These people are getting away with murder,” Ways and Means Chairman Charles Rangel (D., N.Y.) said Thursday during debate on the House floor. “They’re getting paid for the destruction they’ve caused to our communities.”
This from the guy with the multiple rent stabilised apartments and the offshored rent money? STFU dude. Just STFU.
alyx // Mar 19, 2009 at 2:54 pm
Yeah, when Congressmen start talking about largesse, the potential for hypocrisy is massive.
At least a few of them are giving back their campaign contributions from AIG employees: http://cnsnews.com/public/content/article.aspx?RsrcID=45262
RobT // Mar 19, 2009 at 2:56 pm
We haven’t worried about the constitution for 8 years, why start now? Especially in this meltdown.
Besides, we can’t stop and worry about these things right now; this irrational rage won’t burn down mansions by itself!
Tony // Mar 19, 2009 at 3:16 pm
Mark, here’s the thing… yes, it’s hypocritical for Rangel to go after these guys… but we should let him do it anyway. We should cheer him on and make him think that all voters want in the world is to see some righteous indignation! Then, once he and others like him have disposed of our little CEO infestation, come election time we will take care of our little congresscritter infestation as well.
alyx // Mar 19, 2009 at 3:18 pm
Bullish on THE BOOT:
Fartles // Mar 19, 2009 at 8:31 pm
Is that your well-worn leather kicking implement, alyx?
alyx // Mar 19, 2009 at 10:02 pm
Haha, no. That’s merely the finest that Google had to offer.
The Reformed Broker // Mar 20, 2009 at 10:30 am
yay!
now the bonmus money will go back to where it belongs, in gov’t spending programs to build figure skating hall of fame and the museum of pubic wigs
alyx // Mar 20, 2009 at 10:37 am
HAHHAHAH A MERKIN MUSEUM
TonyS // Mar 20, 2009 at 11:07 am
Does anyone else think we should follow Lewis Black’s advice and have them bild a great big… thing somewhere? Doesn’t matter what it is, as long as it’s big, and it’s a thing.
Jason // Mar 20, 2009 at 11:31 am
Such a project would indeed be shovel-ready. So yes.
DailyConstitutional // Mar 20, 2009 at 12:13 pm
Forget about Bills of Attainder. Time to practice eminent domain on some of these companies. The US govt is the majority stakeholder, right?
Fartles // Mar 20, 2009 at 1:30 pm
DailyConstitutional: Severe, yet beautiful.
wild // Mar 20, 2009 at 1:37 pm
aksully I spelLz it BONE US
wild;)