OT Confiscatory taxation
The following was sent to the newspaper and several Senators.
I could not believe that the Senate was even going to consider the
confiscatory taxation bill that pelosi's house passed today. Anytime
that the Government of the United States singles out a specific group of
people and taxes their income at a 90% tax rate, it is wrong. These
bonuses were given with the full approval of the Senate, House, and
obama. Now that the company is doing what the Democrats gave them
permission to do, the US government is singling them out for
confiscatory taxes. If anyone would read the Constitution they would
find that singling out a group of people for this type of legislation is
also unconstitutional.
Retention bonuses have been given by companies for centuries to maintain
their staff when the company faces uncertain economic futures. They
have also been given to contract workers as incentive to stay in the
position until the contract is completed. There is nothing wrong with
retention bonuses and they were needed by AIG to keep their staff from
going to other companies. Because the company did not want to be
stripped of its staff, the government is going to penalize those
employees for staying and helping AIG return to a healthy company.
Apparently the president and people in leadership positions in the
senate and house have no concept of what to do about the economic
problems the country is facing today and are using every minor excuse to
divert the public's attention from their failures.
All of these actions by the government are based on the whims of the
people. If the polls said that the people who received those bonuses
should be hanged, would the congress pass laws to implement those
hangings? This is what the government is doing to the American people
with the 90% taxation of the bonuses. This is a republic where people
with the knowledge and Common Sense to govern the country are elected to
write and approve legislation for the common good. We are not a
democracy where the people in the government rule by summarizing the
polls of their constituents.
Those people in congress who are there to promote the common good of the
people of America must band together and sponsor legislation that will
remove the tax burden from the American people and revise the rules and
regulations that are restricting the American economy. They are not
there to single out groups for destructive legislation.
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