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    Bailouts, Not Bonuses, are the Problem

    After over a year of the Bush-Obama Bailout Parade, there were some encouraging statements coming from the Senate last week. Sen. Jim Inhofe (R-OK): Should we be mad at the executives who are involved in this and who ran a once-great company into the ground? Yes. But that’s not where … More

    Morning Bell: Would You Do Business with this Government?

    This Saturday a bus filled with about 40 people pulled into a cul-de-sac in Fairfield County, Connecticut where a pastor and a steelworker disembarked and made their way to the front door of one of the large homes in the neighborhood. The protestors did not make it to the door … More

    The AIG (And Everyone Else) Bill: Counterproductive and Unconstitutional

    Whom It Really Targets The Hit List: H.R. 1586 retroactively taxes AIG employees who are due deferred compensation and would tax that compensation at a 90% rate. A Much Broader Sweep: Going forward, the bill also imposes a 90% federal tax rate on anyone employed by a company receiving $5 … More

    Countrywide, Fannie Mae, Freddie Mac, AIG Who?

    [youtube]http://www.youtube.com/watch?v=1GoK0539Gl4[/youtube]As Congress builds its target list with any wage earner who makes over $250,000 and is even slightly tied to a company recieving TARP funds, let’s not forget who modified the $800 billion stimulus bill to formally recognize these bonuses in the first place. And this from Larry Kudlow: What … More

    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 … More

    Morning Bell: Bonus Outrage You Can Believe In

    Speaking to a crowd of 1,500 supporters in Costa Mesa, California, about the bonuses given to employees of 80% taxpayer owned AIG, President Barack Obama said: “I know a lot of you are outraged about this. I’m outraged, too.” We’ll leave for others to decide the level of Obama’s outrage, especially considering … More

    There is Still Time, Senator: Fix the Stimulus

    According to Politico, CNN’s Dana Bash and Ted Barrett reported yesterday on how the $800 billion Stimulus bill managed to not only protect AIG’s bonuses; but a provision that would’ve prevented the executive bonuses was stripped. The obvious question is why these protections were put in place by Congress for … More

    Morning Bell: Government, Inc.

    “If you don’t return it on your own, we will do it for you.” So warned Sen. Chuck Schumer (D-NY) referring to the $165 million in bonuses paid to employees of the 80% taxpayer owned insurance company AIG. And how did Schumer plan to force those employees to give their … More

    The Government Can't Sell Cars

    As President Obama and Congress are starting to learn, it isn’t easy running American businesses from Washington. This week AIG threw bonuses in the faces of their new CEO’s on Capitol Hill, after Senator Chris Dodd (D-CT) specifically legislated that they could do just that. Senator Dodd is apparently wishing … More