July 23, 2014 at 2:10 p.m.
House action flies in face of Constitution (03/28/2009)
Letters to the Editor
To the editor:
What precedent is the House of Representatives is trying to set?
The House recently passed a bill allowing for the AIG bonuses to be taxed at a 90 percent tax rate. The action will all but ensure (minus any lawsuits) that government recoups its losses, and all the while looks like the heroes and saviors of the day.
That is, if you allow yourself to be uninformed, and think only with your emotions.
The reality isn't that government is the hero, but the villain.
From making ill-conceived decisions that led to this mess, to the shredding up the Constitution with every "yea" vote cast, government is proving just how inept it is.
I would not dare attempt to understand the business structure of AIG. I do know the bonuses being paid were retention bonuses, in hopes of keeping key people within the organization (not an uncommon practice). These were not merit-based, but only to keep personnel from leaving AIG for potentially greener pastures.
It is not my, nor anyone but the AIG management's, position to decide whether the employees deserved bonuses. Our only involvement, as taxpayers, is what government decides for us.
When we see these executives, who irresponsibly ran the company, receive bonuses, we are quickly upset at AIG.
Many of us have been affected in some way by the recession. Why shouldn't these people feel the same effect? Here is the point at which personal emotion has overpowered our ability to think logically.
We must remember who decided this company should stay afloat, and that these people should keep their bonus. Under the normal operations of capitalism, AIG would have closed its doors or filed for bankruptcy. However, the majority of our Congress, and the president decided to save AIG from failure at the taxpayer's expense. Not only did government "save" AIG, but it did so in true government fashion, ineffectively!
The members of Congress who continue to vote in favor of providing money to AIG are those who should be held responsible, not AIG management.
Government's "bailout" essentially granted AIG permission to continue fostering incompetence instead of allowing capitalism to decide AIG's fate. Since government chose not to do its job, we must look further into the big picture.
Officials knew back in November about the bonuses. Instead of working to resolve the issue, Senator Chris Dodd created an amendment to the stimulus bill allowing these bonuses to remain unaffected.
This recently became public knowledge, and he quickly pinned the blame on the Obama administration for pressuring him to insert the legislation, and so the blame game began.
Those in Congress who did vote for TARP I, TARP II, the stimulus bill, and Omnibus spending bill do not want the public to see their mistakes.
The reckless spending is beginning to upset constituents, and so the AIG bonuses have become nothing more than a distraction from reality and truth. Instead of being the villains, government has "come to the rescue" by raising outrage over a sum of money that equates to around $1 in every $1,000 they gave to AIG alone.
What is the most upsetting about the recently passed House bill is the way in which it infringes on our Constitutional rights. Section I, Article 9 of the Constitution reads, "No bill of attainder or ex post facto law shall be passed".
A bill of attainder is a bill or act of legislation that singles out a person or group for punishment without a trial. An ex post facto law is a law that retroactively punishes a previously legal act.
The 90 percent tax on the AIG bonuses is essentially singling out a group of people, and punishing them for taking their bonuses.
This action is a direct violation of our Constitution, and a deliberate attack on the personal freedoms guaranteed to us by it. If the principles of our Constitution no longer mean anything, I wonder what's coming next? When we clear our minds and look past the smoke and mirrors, the reality of our situation is clear.
Our frustration is not AIG and the millions being paid in bonuses.
Our frustration lies with a government who willingly ignores the Constitution, and who strips us of our rights as citizens of the United States of America.
FYI, our representative, Mike Pence, voted "nay" on taxing the AIG bonuses at 90 percent.
Thank you, Mr. Pence, for standing up for the Constitution, and our personal freedoms.
Matt Minnich
Portland
[[In-content Ad]]
What precedent is the House of Representatives is trying to set?
The House recently passed a bill allowing for the AIG bonuses to be taxed at a 90 percent tax rate. The action will all but ensure (minus any lawsuits) that government recoups its losses, and all the while looks like the heroes and saviors of the day.
That is, if you allow yourself to be uninformed, and think only with your emotions.
The reality isn't that government is the hero, but the villain.
From making ill-conceived decisions that led to this mess, to the shredding up the Constitution with every "yea" vote cast, government is proving just how inept it is.
I would not dare attempt to understand the business structure of AIG. I do know the bonuses being paid were retention bonuses, in hopes of keeping key people within the organization (not an uncommon practice). These were not merit-based, but only to keep personnel from leaving AIG for potentially greener pastures.
It is not my, nor anyone but the AIG management's, position to decide whether the employees deserved bonuses. Our only involvement, as taxpayers, is what government decides for us.
When we see these executives, who irresponsibly ran the company, receive bonuses, we are quickly upset at AIG.
Many of us have been affected in some way by the recession. Why shouldn't these people feel the same effect? Here is the point at which personal emotion has overpowered our ability to think logically.
We must remember who decided this company should stay afloat, and that these people should keep their bonus. Under the normal operations of capitalism, AIG would have closed its doors or filed for bankruptcy. However, the majority of our Congress, and the president decided to save AIG from failure at the taxpayer's expense. Not only did government "save" AIG, but it did so in true government fashion, ineffectively!
The members of Congress who continue to vote in favor of providing money to AIG are those who should be held responsible, not AIG management.
Government's "bailout" essentially granted AIG permission to continue fostering incompetence instead of allowing capitalism to decide AIG's fate. Since government chose not to do its job, we must look further into the big picture.
Officials knew back in November about the bonuses. Instead of working to resolve the issue, Senator Chris Dodd created an amendment to the stimulus bill allowing these bonuses to remain unaffected.
This recently became public knowledge, and he quickly pinned the blame on the Obama administration for pressuring him to insert the legislation, and so the blame game began.
Those in Congress who did vote for TARP I, TARP II, the stimulus bill, and Omnibus spending bill do not want the public to see their mistakes.
The reckless spending is beginning to upset constituents, and so the AIG bonuses have become nothing more than a distraction from reality and truth. Instead of being the villains, government has "come to the rescue" by raising outrage over a sum of money that equates to around $1 in every $1,000 they gave to AIG alone.
What is the most upsetting about the recently passed House bill is the way in which it infringes on our Constitutional rights. Section I, Article 9 of the Constitution reads, "No bill of attainder or ex post facto law shall be passed".
A bill of attainder is a bill or act of legislation that singles out a person or group for punishment without a trial. An ex post facto law is a law that retroactively punishes a previously legal act.
The 90 percent tax on the AIG bonuses is essentially singling out a group of people, and punishing them for taking their bonuses.
This action is a direct violation of our Constitution, and a deliberate attack on the personal freedoms guaranteed to us by it. If the principles of our Constitution no longer mean anything, I wonder what's coming next? When we clear our minds and look past the smoke and mirrors, the reality of our situation is clear.
Our frustration is not AIG and the millions being paid in bonuses.
Our frustration lies with a government who willingly ignores the Constitution, and who strips us of our rights as citizens of the United States of America.
FYI, our representative, Mike Pence, voted "nay" on taxing the AIG bonuses at 90 percent.
Thank you, Mr. Pence, for standing up for the Constitution, and our personal freedoms.
Matt Minnich
Portland
[[In-content Ad]]
Top Stories
9/11 NEVER FORGET Mobile Exhibit
Chartwells marketing
September 17, 2024 7:36 a.m.
Events
250 X 250 AD