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  • House Republicans Show the Search for Principles Goes On

    In Thursday’s outraged House debate on the AIG bonuses, House Republicans rallied around a different approach. Members of both parties in the House and Senate have taken the tack of proposing to tax these bonuses through targeted, retroactive taxation. This is the substance of the bill that passed the House Thursday by a wide margin. This kind of oppressive use of government power to thieve private property is so unprincipled as to make the past behavior of Wall Street tycoons seem saintly in comparison.

    The House Republicans, including minority leader John Boehner and minority whip Eric Cantor took a different approach. Rather than exercising the power to tax as the means of destroying the meaning of contracts and private property, they intend to go straight to government expropriation. Their approach directed Treasury to implement a plan within two weeks to recoup the bonus monies, apparently by whatever means necessary.

    Since Treasury’s lawyers have already concluded the AIG bonuses were contractual obligations and therefore had to be paid, the House Republican language is either completely vacuous, or it calls on Treasury to do the patently illegal. This was an empty gesture, a frivolous, emotion-charged talking point signifying nothing.

    These are serious times. The global financial system and global economy are in crisis. Yet the House Republicans continue to strain at seriousness. After the thrashing of the past two elections, Republicans have sung the mantra of rediscovering their principles and presenting serious policy alternatives to the American people. It would appear they still have a very long way to go.

    Posted in First Principles [slideshow_deploy]

    17 Responses to House Republicans Show the Search for Principles Goes On

    1. Tim Keen, Solomons, says:

      Where is the ACLU when we want to hear from them?

      Who is going to file a case before the Supreme Court to deal with this abridgment of the Constitution?

      Can the Supreme Court initiate any action, do they have to wait for a case to decide on?

    2. Spiritof76, New Hamp says:

      The ACLU is a pro-communist organization founded by Roger Baldwin, a declared communist in 1930s. They don't care about the US Constitution only to the extent to pervert it to their collective agenda.

      I am disappointed with the Republicans. They have no courage, no unwavering commitment to its core principles aligned with the founding principles and no PR skills. What the Congress did is simply unconstitutional. There have been death threats to the kids of the employees of the AIG. I hope nothing serious happens. The US Congress and Obama are responsible for the AIG mess. They used AIG to divert funds to foreign banks, a sort of money laundering agent. All those toxic fumes emanating form the Congress is missed in the smoke screen of the AIG bonus.

    3. Lynn B. DeSpain says:

      Sound familiar? If it can be done to some, it can be done to all! Be sure to send your 'Tea Bags" to 1600 Pennsyvania Ave., Washington, D.C., 20500 April 1st.

      This will ensurure their arrival "protest" to , "Taxation without Representqion".

      What AIG did with giving out the bonuses was wrong. What really scares me is Congress being able to single out which individuals 'They' wish to Tax and which ones they do not.


    4. Duke, Ohio says:

      Our Republican leadership is like a blind man in a round room looking for a penny in the corner. Wake up people, this is a war for the future of our country. You need to be willing to lose your job in fighting the good fight.

      "All that is required for evil to prevail is for good men to do nothing." Edmund Burke

    5. Jerome Zacny says:

      Given, the payment of bonuses to executives of "bailout" companies was, and is, wrong.

      That said, the payment of these bonuses was made with the knowledge of Mr. Giethner and the Treasury Dept and Senator Dodd. If the rest of the Senate and House didn't bother to read the legislation they proposed, and Mr. Obama didn't bother to read the legislation he signed into law, that is their collective responsibility.

      Maybe the amount of campaign and other contributions paid by AIG to Messrs. Dodd and Obama had nothing to do with their passage of a stimulous package that included these bonuses. What do you think?

      In this author's opinion, a takeaway of these contractual bonus payments, no matter how ill conceived, would be unconstitutional. The proposal to do so coming from the very people who authored the legislation enabling this and executing it into law defies credibility.

    6. Steve, Michigan says:

      Robert Mugabe, V.I. Lenin, move over. How long before we are a third rate power with nothing to show the world except how efficiently we can grab other people's money? The Supreme Court will likely look for ways to dodge deciding this, just as much as they will likely dodge deciding the Obama eligibility issues. Where are the men and women of principle? They seem to be fading away with the WWII heroes.

    7. steve NH says:

      So is this how it starts. Will the historians point to this day as the day The United States of America started to unravel. When mob rule became a revolution. By going along with this obvious trashing of the constitution I fear we are not far from removing the 23rd admendment and many others.

    8. Cooper says:

      If the GOP does not get serious and oppose these Democrat Facists; we are preparing for another defeat in 2010. We have to join together and oppose the Dems on all issues in lock step.

    9. Ken, California says:

      Last week, with the news of the House vote on the bonus tax bill flashing in my inbox, I sent an email to many business associates and friends — including those who have yet to come into the light. The subject: "ex post facto."

      The message contained three paragraphs. The first a paste of the headline from WSJ online. The second a paste of Section 9 of the U.S. Constitution. The third a paste of my computer's dictionary definition of "ex post facto" followed by my observation that only 93 of the 421 members who voted, recalled with that action the text of what they had sworn to protect. I ended with a prayer for our liberty.

      An engineer in his late forties replied, "I did not know what ex post facto meant."

      His kids will be voting age in another year or so.

    10. Ryan Hays, Dallas says:

      How can congress just ignore the Constitution like this and nobody seems to care? We will lose the midterm elections again if the "republicans" just go along with all these bills and don't propose well thought out alternatives. Does nobody realize that these bonuses they paid out were only .9% of the bailout money, while they gave other banks like Goldman billions of dollars?

    11. Beverly Allison, Mi says:

      Can you please publish a list of the Republicans voting for issues that are not conservative, so that we can work for their defeat by making contributions to a conservative candidate.

    12. Ken St Louis says:

      Sometimes, Insurance companies pay bonus's to sales people who are not direct employees of the company, just contracted with them. If they reach certain threholds in production #s they can earn bonuse,s. I'm not saying that this is the case in this instance, just that it might be. However, if this is the case you'd think that someone at AIG would point this out.

    13. Al, The Villages, Fl says:

      The republicans seem to never learn. Principles over the heat of the moment please. The congress blew it, along with the administration in not addressing this last year. It is unconstitutional to try to break a contract between private parties and unconstitutional to use the tax code as a weapon. The dems blew it so live with it. The republicans should stand up for the constitution, admit the congress/admin blew it, AIG's bonus situation was legal, and get on with fixing the economy. This misuse of the tax code is another good reason to go to the Fair Tax. Instead of adult supervision, we get emotional juvenile reaction.

    14. Tri Chau says:

      We need to direct outrage elsewhere, not at AIG. The bonuses were perfectly legal, contractual agreements. We may not like it but it is LEGAL. We should be outraged at what Congress is trying to do to unconstitutionally seize these bonuses. We should be outraged at the gross wasted amount of money spent by Congress, passing these bills that will put our children and grandchildren into debt!

    15. Marshall Hill MI. says:

      The Republicans have much to think about in their

      quest to come back to Power! And the biggest hurdle is taking the stand to not give in to the LIBS!

    16. Ross, Bradenton, Fla says:

      It may be time for the Republican Party to do a little more…no, alot more studying of history of the United States, reread the Constitution of the United States, the Federalist Papers,etc. Then start using commonsense the Lord gave the majority of us. It may be time for them to read and understand Karl Marx's Communist Manifesto…it could be a revelation to them as to what the Socialist Democrats are doing to our beloved country. Also I would suggest they look at what socialism has done to Europe where there are two classes, the have and the have nots(who never will have). It is a sober view. This should give them a direction that they can't fear for what Republican are.

    17. Pingback: Be a More Educated Angry Mob. « Mans Inc.

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