This has to be the ultimate "two wrongs dont make a right" scenario! Did I say "Two Wrongs"? I've lost track to how many wrongs it's taken to get here!
In an attempt to withhold the $165 Million in bonuses for AIG, Congress has decided to pass legislation allowing them to TAX those bonuses at a rate of 90%! What?!? Ok, maybe you have an ethical issue with AIG...fine. But there is a more SERIOUS ethical issue with rushing legislation against one particular group of people and doing and end run around the constitution for one reason...we're mad.
I dont like the bonuses. Hell, I dont like the bailouts. But this is actually kind of scary, and an egregious abuse of power.
It's almost hard to remember how we got to this point, but this is NOT the answer. Those AIG employees who got taxed will end up in court in a heartbeat. And although no one wants to see them get paid, its overall in every ones best interests to see the courts rule in their favor.
This is NO way to win this fight.