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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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