John Hinderaker is shocked to discover that America is not what it seems to be:
I’m stupefied to find that some people are defending the constitutionality of Nancy Pelosi’s discriminatory, confiscatory and retroactive tax on people who receive bonus income from companies that got TARP money. I would have considered it a bright line rule that the government can’t identify a class of unpopular people and impose a special tax on them. What’s next? A 100% income tax on registered Republicans, retroactive to last year? If Pelosi’s bill passes muster, why not?
One theory, presumably, is that since the government is contributing TARP money it can put whatever strings it wants on that money. (Including, I guess, strings imposed after the fact that would deprive employees of agreed-upon consideration for work they’ve already performed.) But that theory has been rejected in a variety of contexts. The government cannot condition its spending on a relinquishment of constitutional rights. Here’s a thought experiment: how about putting a condition (retroactively, of course) on TARP money that says no employee of any bank that receives such money (or his spouse) can get an abortion? Would Nancy Pelosi think that’s constitutional?
Wells Fargo didn’t want any TARP money, but the government forced it to take more than $5 billion worth, so Wells Fargo employees who receive bonuses would be subject to Pelosi’s proposed tax. Say you’re a teller at a Wells Fargo branch in Minnesota and you’re married to a lawyer who makes $250,000 this year. You get a $10,000 bonus for your good work during 2008. The government steals it all (90 percent federal plus 8.5 percent state plus, unless it’s included in the 90 percent, 3 percent Medicare). That is simply insane.
Welcome to the new real world John! This is what happens when Conservatives, Libertarians and those pesky independents falls for the nice speeches and sweet swagger of a man, who in all honesty has zero business being President.
Luckily for us, there some Republicans who have some brains up on the hill. The AP Reports:
Senate Republicans are drawing out a flap that has made the Obama administration squirm, applying the brakes to Democratic attempts to quickly tax away most of the bonuses at troubled insurance giant AIG and other bailed-out companies.
Sen. Jon Kyl, the Republicans’ vote counter, blocked Democratic efforts Thursday evening to bring up the Senate version of the tax bill to recoup most of the $165 million paid out by AIG last weekend and other bonuses in 2009. The House had swiftly approved its version of the bill earlier in the day.
By rushing, Kyl said, Democrats were letting populist outrage trump informed decision making in the Senate, which is supposed to be insulated from the pressures of public passion.
“I don’t believe that Congress should rush to pass yet another piece of hastily crafted legislation in this very toxic atmosphere, at least without understanding the facts and the potential unintended consequences,” Kyl said on the Senate floor. “Frankly, I think that’s how we got into the current mess.”
Senate Democrats said they will try again next week to take up the tax bill and hope to complete it before April 4, when Congress leaves for a two-week spring break. Combining the disparate House and Senate versions of the bill might have to wait until after the recess.
If the Democrats want to fix the problem, they should try turning to the moron that they put in the White House and his treasury secretary. Both of their resignations would be nice right about now. We need some real leadership, and not that idiot Harlem Globetrotter nonsense, that we have been getting since Barry took office. In other words, it’s time for “Teleprompter Boy” to hit the damned road.
Others:
- Kim Priestap / Wizbang: An Adult Steps up and Takes Control
- Peter Robinson / The Corner: Commandante Obama — Are we becoming a banana republic?