100% tax on AIG bonuses?

It’s probably the understatement of the decade to say that I’m no fan of bailouts, but the proposal to tax 100% of the bonuses at AIG because they’re using our money is ridiculous.

Even though Bush trampled all over it, we have this document called the Constitution which limits what the government is allowed to do.  The Constitution allows amendments, and one of them is the 14th Amendment.  In part it says:

No state shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States; nor shall any state deprive any person of life, liberty, or property, without due process of law; nor deny to any person within its jurisdiction the equal protection of the laws.

In other words, what’s good for the goose is good for the gander.  Laws need to apply equally to everyone or they’re invalid.  At least that’s the theory….

We’ve seen hundreds of examples where that’s been ignored – farm bills, auto regulations, welfare, tax breaks etc. – but that doesn’t make it right.  Passing a law that applies to AIG (or any other subset of citizens) to tax certain wages at 100% is blatantly unconstitutional.

That won’t stop it from passing, but it should.  That should tell you just how much our elected Representatives, Senators, and the President know about the constitution.  And it should show you why we need to vote them out.  All of them.

Go back to a citizen legislature and we’d all be better off.

gk

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