The Scathing Truth about the AIG Bonuses
What is all this sound and fury over the AIG bonuses? It's the same kind of sound and fury that came with the AIG bailouts--Liberal Democrat and RINO Socialist nonsense. But scary nonsense, for this is a prime example of the war against your rights. Not just your rights--the very foundation of your free (or semi-free) existence in the United States.
As we know by now at the time of this writing, a lot of AIG bonus money has been returned to the bloody hands of the Congress--whose members, of course, lie in your face and say that they returned it to "you, the taxpayer". A previously scheduled $165 million of the AIG bailout money was paid out in executive bonuses recently--and Congress screamed for blood, and whipped many in the American populace into a blood-lust, demanding that that money be given back--or else.
The Congress has decided to levy a 90% tax on all of that money which is not voluntarily returned. As AIG is a multinational corporation, some estimates at the time of this writing indicate that only about $80 million can be expected to be recovered. How is the U.S. Congress going to collect a 90% income tax from employees in foreign nations?
Furthermore, this bonus tax--which at least one bone-headed Congresswoman said should be "1,000 percent"--is utterly un-Constitutional. Why? Because, first of all, it targets specific individuals, rather than specific groups, income brackets, or industries. But far more importantly, it is an after-the-fact tax--which is an utter violation of our Constitution (and which Emperor Dumbo rightly perceived would be perceived by too many Americans who could then threaten his power, which is why he "denounced" the 90% tax scheme, but then said that in spite of that the bonus payouts are a major problem and he is outraged by them).
Let's say that the genius Socialist Democrats in Congress (along with their cowardly, disgusting RINO backers) get away with raising the capital gains tax back up to some obscene amount. And then, let's say that they decide that anyone with investments who has had capital gains taxed at the lower amount for the previous five years, and who dutifully paid those taxes, now is going to be forced to pay the difference--that is, they now owe back taxes based on the new tax rate. Needless to say, that is 100% illegal for them to do.
Furthermore, let's say that these same geniuses decide that this illegal retro-taxation is only going to be implemented against certain individuals--just because they happen to be mad at them. Let's say that anyone who lives in a predominantly Republican or Conservative county in the U.S. and has capital gains is going to have to pay the illegal retro-tax; but people like, say, George Soros, don't have to pay it at all.
Does all of this sound crazy? It is--and yet, in principle, that is EXACTLY what the AIG bonus tax threat is all about. It's exactly the same thing as the clearly illegal actions described above. And our illustrious Congress, with a nod and a wink from Emperor Dumbo, is getting away with it.
But wait...there is even more to this drama of perversity. Those AIG bonus payouts were explicitly protected in the new legislation that granted the AIG bailout funds of $180 billion. Now, many of us would agree that at least some of those employees who were scheduled to get them probably did not deserve one thin dime out of them--but, that is absolutely not the point here. And to bring it up is to obfuscate and to deceive. We don't know which employees do deserve that money and which ones don't--and in this particular case, it is totally irrelevant, because the law that was passed stated that those were protected bonuses. Democratic Senator Christopher Dodd made sure of it, and Barack Obama signed it.
Now, suddenly, nobody wants to take the responsibility. Nobody in Congress now wants to live up to the most important legal and financial concept that we have ever had in the United States of America: the inviolable binding contract. It is explicitly made clear in the U.S. Constitution that the government is powerless to interfere with any binding contract once it is signed on to by the participating parties. A huge part of the government's job, in fact, is to see to it that binding contracts never get violated.
Now...the government has just been allowed to violate a binding contract that it entered into and was charged with protecting. By the government's buying up stakes in AIG, this part of those contracted bonuses became part of a contract that the government is party to.
This AIG bonus fiasco, ladies and gentlemen, is de facto Socialism. When the government can break any contract at any time, we have Socialism--the death of America, the death of liberty, the death of the American dream that says you can grow as wealthy as you want to provided you figure out how to do so and do so honestly.
This AIG bonus fiasco, along with the AIG bailout in the first place, proves that it is time to do what Americans should have done long ago: throw out the Democrats; throw out the RINOs; and put Conservative Republicans (wherever they can be found) back into power. This is our only solution in these desperate times. We call for the impeachment of all Liberal Democrats, including the Emperor, in our federal government. We demand that they give up all of their pay, all of their compensation...and all of their power. For they are totally incompetent.
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