Archive for the ‘bonuses’ Category
Congress Leads the Charge for Class Warfare
Much of the AIG bonuses will go towards family expenses like cars for their children to get to school.
The American dream is in jeopardy. Imagine what it is like to work long days and longer weeks in the hopes of getting a bonus to help get you by in lean economic times. Now imagine that congress uses the power to tax in order to take all that money away from you simply because they resent your success. The power to tax is the power to destroy and the Democrats in congress have no trouble wielding this power. It is enough to make successful people simply “go Galt” and refuse to work. Afterall, they won’t see the fruits of their own labor. Such is the plight for dozens of employees of AIG.
American, a country which used to aspire to the success of its elite, now resents it. Let me tell you about these bonuses. Companies like AIG have to pay these large bonuses in order to get the top people to work for them. Without a million dollar bonus or retention payment or whatever you want to call it, many of these guys would just go into social work or teaching. Companies pay these bonuses because that is the cost of doing business requires it. Its just unfortunate that since the taxpayers are paying that cost, we have to pay the bonuses. These bonuses will help stimulate the economy though. They represent a potential $165,000,000 in sports cars, caviar, private planes, and luxury yachts.
And how does congress react? Well according to Senator Charles Schumer (D-NY), “My colleagues and I are sending a letter to [AIG CEO Edward] Liddy informing him that he can go right ahead and tell the employees that are scheduled to get bonuses that they should voluntarily return them,” Sen. Charles Schumer said on the Senate floor. “Because if they don’t, we plan to tax virtually all of [the money] … so it is returned to its rightful owners, the taxpayers.”
His fellow Democrat Bill Nelson of Florida chimed in by calling for a 90% excise tax on the bonuses, but it isn’t just the Democrats who seem to have problems with successful hard working men and women. Senator Chuck Grassley (R-IA) took an even more extreme position, “But I would suggest the first thing that would make me feel a little bit better toward them if they’d follow the Japanese example and come before the American people and take that deep bow and say, I’m sorry, and then either do one of two things: resign or go commit suicide.”
The AIG executives will get their hard earned bonuses and they will spend them, but I can promise you they won’t enjoy it. Caviar and champagne just aren’t the same when somebody has killed your appetite.
