The Start Of Nothing Good
House Democrats (with the collaboration of a large number of turncoat Republicans) have passed a bill that will impose up to a 100 percent tax on the bonuses paid out by AIG and other bailed-out companies.
Lawmakers denounced this “squandering of the people’s money”, seemingly oblivious to the real problem, which was their decision to pour our money into the banks in the first place.
The thing about laws – and you’d never guess this – is that they form a precedence.
Advocates of Kosovan independence can issue the disclaimer that it didn’t start a precedent all they like, but the truth of the matter is that there now exists firm grounds for any minority anywhere to agitate violently for secession and their own nation-state. And to gain recognition for doing so (it was nice knowing you, Britain, France, Spain, Canada, etc).
And the same holds true here. If you are the regular recipient of nice, large bonuses, enjoy ‘em while you can.
on
March 20th, 2009 at 06:49
Interesting article, thank you.