Thursday, March 19, 2009

The AIG Bonus Distraction

The President and his cohorts in Congress have created quite a stir with respect to the payout of $165 million in bonuses by AIG. Don't be fooled my fellow taxpayers. While $165 million is certainly a lot of money, it pales in comparison to the trillions already spent by Obama and his tax cheating Cabinet, with trillions more to come.

This bogus bonus debacle is nothing more than a distraction that the Administration is using to divert attention away from itself and its miserable failures. The President is once again employing the strategy set forth in " Rules For Radicals", and is merely using the bonus story to attack capitalism. The problem here is that AIG is contractually bound to pay these bonuses and Congress, including Frank and Dodd, voted to allow AIG executives to keep these bonuses. Now they want to pass an ex post facto law to specifically target and tax these bonuses at 90%. There's only one silly problem with that, Chris and Barney, it's called the Constitution. You know, that trivial little document that the Democratic Party disdains. Can you say Bill of Attainder? Better yet can you two thieves say " I resign". Short of that,I'd even settle for a simple "I'm sorry " to the American people. But I won't hold my breath, since class is not your forte.

Hey Mr. President, let me let you in on a little secret. It's your bailout plan that caused the entire problem.If you had done the right thing and let AIG go Chapter 11, these executives would have never gotten these bonuses in the first place. AIG would then have gone under or reorganized and other insurance carriers would have filled any void left in the marketplace. It's called Capitalism, and it's the best economic system in the history of civilization. What don't you try it. You just might like it.

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