Bill to Tax Bonuses Unconstitutional, Dr. Paul on House Floor 3/18/09Submitted by PA4Liberty on Thu, 03/19/2009 - 21:31
Published: Thursday March 19, 2009
Paul: Bill to tax bonuses an 'outrage' and unconstitutional
David Edwards and Rachel Oswald
Rep. Ron Paul (R-TX) yet again went against the grain in Congress when he stood up in the House and argued against a proposal that would tax 90 percent of AIG executive bonuses, saying that it was a "disgrace," a "distraction" and an "outrage" that undermined the Constitution.
"I rise in opposition to this rule and the bill because of the problem -- because of the lack of need for this and the disgrace that this has brought upon us," Paul said. "Yesterday, for instance, the Federal Reserve met and they came out and they announced that they would create new money to the tune of $1.25 trillion."
Paul, a dark horse Republican candidate for president in 2008 who still enjoys considerable popularity with a base of hardcore supporters, noted that the value of the dollar went down significantly after that announcement by the Fed.