House Passes Bill Taxing AIG Bonuses at 90%
Submitted by Michael Nystrom on Thu, 03/19/2009 - 14:02
WASHINGTON (AP) — Acting with lightning speed, the Democratic-led House has approved a bill to slap punishing taxes on big employee bonuses from firms bailed out by taxpayers.
The vote was 328-93.
Said House Speaker Nancy Pelosi: "We want our money back and we want our money back now for the taxpayers."
And we don't care if we have to break the law to do it! Because we're mad! And we're scared of getting voted out of office! And we need to do this to divert attention from the real issues!
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Does this mean Obama will be
Does this mean Obama will be taxed 90% of the $101,000 bonus AIG gave him?
Awesome
so the Federal Reserve, just gets their money back anyway because they get the income tax. The sheeple are happy because they have been punished, and the Federal Reserve is happy because they got 90% instead of the 35-50% they would have gotten by the end of the year.
Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine
The R3volution requires action, not observation!!!!
Is THIS bisquit adequate?
And are you ready to quietly turn in your weapons?
Truth exists, and it deserves to be cherished.
Change we can feel.
Those useless bottom feeders will do absolutely anything to stay away from the right thing. They aspire to make themselves look good. They love taking bows [for their stupidity] while robotic imbeciles cheer.
But I guess a congressional puppet has no way of knowing he's a puppet.
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How does one join a class-action lawsuit against the government?
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"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore
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"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore
this is an absolute joke...
this is an absolute joke... the people who should be getting taxed 90% is members of the CONgress and the SINate..
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Pick a shell.
Any shell...
AIG is a distraction
Explained here: http://www.youtube.com/watch?v=Y6lFCU_WvxU
Why this is stupid
If you are a successful insurance salesman, then you can sell ice to Eskimos. These are a rare group of people. They can work anywhere they want. If the US Gov is now the majority owner of AIG and if they want the company to have any sort of shot at being a going operation then they need to roll out the red carpet for the successful sales reps. By violating the Constitution and deliberately screwing these people out of the compensation they're contracted to receive, the gov't is dooming AIG to failure. So this is a lose-lose situation for all concerned. Does every person at AIG "deserve" their bonus pay? I have no idea. But if they screw everyone in senior management at AIG, then they'll be screwing the US citizens (yet again). This is just a grimly depressing piece of garbage situation.
This "law" is
This "law" is unconstitutional and is a bill of attander. The Constitution also forbids the congress from interfering with the obligations of contracts.
A vote for Ron Paul is a vote for James Madison.
Dude
The CONstitution never restrained them, no matter what you have been lead to believe. How could it? It gave them the power to tax and they create all the laws. It's no different than telling your neighbor " I need you to take care of me, here's my checkbook, key's to my house, car, do anything you want to me, you CONTROL me now, I trust you. You hope/think your neighbor is decent, but what if he isn't? What if he secretly desires everything you have? They played the oldest trick in the book and we fell for it, they stroked our egos. They told us we were in "control." This is why they don't listen to us! They KNOW who is in control. THEM. Heck, they didn't even let the people of the day vote on it! We didn't sign it. It doesn't matter who you vote in or what affiliation, they work for the system. You will still be in servitude. You will be still be forced to pay your extortion money. They will continue to take your rights as long as YOU LET THEM. The only thing that gives you rights, is the WILL to fight for them. You can't reform the system. Abolish it.. Stop participating in the system of your enslavement.
Vote records
Does anyone have a list of who voted Yeah or Nay for this bill?
voting record
I googled "house vote hr 1586" to get:
http://www.govtrack.us/congress/vote.xpd?vote=h2009-143
Quick! Look over there! *runs off*
The camel's nose is under the tent now...
Once the Senate (along with McCain) also vote for it, then the camel will be all the way IN the tent.
And the founders are spinning.
"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul
Watch the unintended consequences
There will probably be mass resignations and talent will leave this country. Yes, some that screwed up earlier, but many who are simply disgusted with our socialist government and can make a better living elsewhere. Congress is uncontrolled madness. What will be tomorrow's crisis?
This is classic fascism, not socialism.
“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams
Vote for Liberty...Buy Silver Eagles.
They already did
They broke the law when they gave them the money in the first place. Of course they do not care if they break it again.
The TARP muddies the water a bit ...
but I think the EX POST FACTO clause will bring this down.
I hope the Fed. govt. will be responsible for lawyer fees and they rack it up.
Only hire high priced ones. $500/hour and higher.
If this passes the SENATE, I officially declare this a bananna republic.
Here is why the TARP aspect is moot. They only capture companies that received over $5 billion in TARP and they only go after families that report over $250,000 in income.
WAHOR!!
http://www.dailypaul.com/node/48994
WAHOR!!
http://www.dailypaul.com/node/48994
The Ex Post Facto prohibition may or may not bring down the
legislation. The SCOTUS repeatedly has upheld retroactive tax legislation. See: United States v. Carlton (92-1941), 512 U.S. 26 (1994). Of course, it's entirely wrong and not supported by any plain reading of the U.S. Constitution, but then that fact doesn't seem to offer much of a hurdle for court members to overcome.
There is however one characteristic in past judicial pronouncements that may indeed doom the legislation. Some SCOTUS decisions have stated that the validity of a retroactive tax provision under the Due Process clause depends upon whether "retroactive application is so harsh and oppressive as to transgress the constitutional limitation." Welch v. Henry, 305 U. S., @ pg. 147. If the tax is imposed at a 90% rate, then one has to wonder how that could *not* be judged as being "harsh and oppressive".
I don't see much chance of success in attempting to claim that the attempted imposition of a tax on received income, by itself, violates an impairment of a contractual obligation on the part of AIG to pay over this or that amount of bonus or other compensation. The imposition of the tax doesn't prevent the transfer of monies between the parties to a contract; it only comes into play based upon the receipt of those monies by those parties who are paid as a result of the execution of contractual terms. As someone has already mentioned, the whole exercise is intended to misdirect the attention of the public.
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"An economy built on fiat money is a society on its way to ashes."
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"An economy built on fiat money is a society on its way to ashes."
It's difficult to be upset
It's difficult to be upset at this, but I realize that what they are doing is unconstitutional. Our Congress is a mess.
...
That's basically what it is
That's basically what it is a diversion.
It's unconstitutional and will be litigated in a court that actually recognizes the constitution.
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"I love the Union and the Constitution, but I would rather leave the Union with the Constitution than remain in the Union without it." - Jefferson Davis
"A government of reason is better than one of force." --Thomas Jefferson to Richard Rush, 1820
"It's unconstitutional and
"It's unconstitutional and will be litigated in a court that actually recognizes the constitution."
Ha, ha,ha which court would that be? Certainly, not the US Supreme Court.
And you're right it is a diversion, they want the sheeple to look at the right hand , while they keep doling money with the other.
It's all an illusion created for dumbed down masses.
And you want to know something most of them will fall for.
If you don't think I'm right, just strike up a conversation with a stranger at the market. Ask them what they think of the job Obama is doing? Every one has said,...I think he's going to fix the mess Bush left him or words to that effect.
Peoples court? I can't say
Peoples court?
I can't say exactly but if they hire attorneys that have "connections" to judges,I'm sure eventually it would be in their favor,might have to grease some palms first.
Theres the other problem with the majority of people,they think the president can do whatever he desires,and has king like powers.He must have a cooperative congress.
If RP was president he could stop a lot of the unconstitutional acts,but to roll things back he would need congress to agree.
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"I love the Union and the Constitution, but I would rather leave the Union with the Constitution than remain in the Union without it." - Jefferson Davis
"A government of reason is better than one of force." --Thomas Jefferson to Richard Rush, 1820
Lucky for
for Obama he has a cooperative Congress. Just like his predecessor...Bush.
However, it's very unlucky for the American people.
As far as King Powers the Executive is working on it. Maybe Obama will succeed with the power grab Bush started?
Here's another Unconstitutional bill
http://www.govtrack.us/congress/bill.xpd?bill=h111-1575
H.R. 1575:
111th Congress
This is a bill in the U.S. Congress originating in the House of Representatives ("H.R."). A bill must be passed by both the House and Senate and then be signed by the President before it becomes law.
Bill numbers restart from 1 every two years. Each two-year cycle is called a session of Congress. This bill was created in the 111th Congress, in 2009-2010.
The titles of bills are written by the bill's sponsor and are a part of the legislation itself. GovTrack does not editorialize bill summaries.
2009-2010
End Government Reimbursement of Excessive Executive Disbursements (End GREED) Act
To authorize the Attorney General to limit or recover excessive compensation paid or payable by entities that have received Federal financial assistance on or after September 1, 2008.
This bill was considered in committee which has recommended it be considered by the House as a whole. Although it has been placed on a calendar of business, the order in which bills are considered and voted on is determined by the majority party leadership. Keep in mind that sometimes the text of one bill is incorporated into another bill, and in those cases the original bill, as it would appear here, would seem to be abandoned. [Last Updated: Mar 19, 2009 12:08PM]
Last Action:
Mar 18, 2009: Ordered to be Reported by Voice Vote.
Rep. John Conyers [D-MI]hide cosponsors
Cosponsors [as of 2009-03-19]
Rep. William Delahunt [D-MA]
Rep. Steve Cohen [D-TN]
Rep. Joe Baca [D-CA]
Rep. Paul Tonko [D-NY]
Rep. Sheila Jackson-Lee [D-TX]
Rep. Marcia Fudge [D-OH]
Res.Com. Pedro Pierluisi [D-PR]
Rep. Jerrold Nadler [D-NY]
Rep. Debbie Wasserman Schultz [D-FL]
Rep. Henry Johnson [D-GA]
Rep. Leonard Boswell [D-IA]
there !! that'll learn'm
~Mikael / Peace, love, Light and unity ~
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Stop the NWO....It's just illumi..Naughty !
Sponsors and co sponsors of the bonus tax bill
Rep. Charles Rangel [D-NY]
Cosponsors [as of 2009-03-19]
Rep. Ben Luján [D-NM]
Rep. John Lewis [D-GA]
Rep. Fortney Stark [D-CA]
Rep. Yvette Clarke [D-NY]
Rep. Keith Ellison [D-MN]
Rep. Bob Etheridge [D-NC]
Rep. Shelley Berkley [D-NV]
Rep. John Hall [D-NY]
Rep. Sander Levin [D-MI]
Rep. Phil Hare [D-IL]
Rep. Christopher Van Hollen [D-MD]
Rep. Steve Cohen [D-TN]
Rep. Linda Sánchez [D-CA]
Rep. Steve Israel [D-NY]
Rep. Carolyn Maloney [D-NY]
Rep. Christopher Carney [D-PA]
Rep. Albio Sires [D-NJ]
Rep. Danny Davis [D-IL]
Rep. Marcia Fudge [D-OH]
Rep. Charles Wilson [D-OH]
Rep. Thomas Perriello [D-VA]
Rep. David Loebsack [D-IA]
Rep. David Wu [D-OR]
Rep. Michael Thompson [D-CA]
Rep. Baron Hill [D-IN]
Rep. John Larson [D-CT]
Rep. Ron Klein [D-FL]
Rep. Janice Schakowsky [D-IL]
Rep. Daniel Maffei [D-NY]
Rep. Earl Pomeroy [D-ND]
Rep. Peter Welch [D-VT]
Rep. Gerald Connolly [D-VA]
Rep. William Pascrell [D-NJ]
Rep. Brian Higgins [D-NY]
Rep. John Tanner [D-TN]
Rep. John Dingell [D-MI]
Rep. Kathy Castor [D-FL]
Rep. John Yarmuth [D-KY]
Rep. Gary Peters [D-MI]
Rep. Kendrick Meek [D-FL]
Rep. Artur Davis [D-AL]
Rep. Earl Blumenauer [D-OR]
Holy Smokes
Anyone have visions of the Roman Senate, during the final days?
What a circus.
The distractions just keep on coming....
Cheese and rice!
bump...
Berwick, Columbia County, Pennsylvania
Ron Paul 2012 - The People's Choice
rEVOLution SuperPAC: http://www.revolutionpac.com/
WTP Federal Lawsuit to BAN ALL ELECTRONIC VOTING
http://www.wethepeoplefoundation.org/UPDATE/Update2011-07-26...
or, Bailouts and iPods
The modern equivalent of "Bread and Circuses".
~jaq
~jaq